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I see HTZ started trading again and current stock price is around $0.70, so @mkingsley Jun19 1 strike are worth $0.45 now. Rather than going through assignment, probably best to sell the puts and enjoy a nice dinner compliments of HTZ. I'm sure it won't get close to zero by Jun19 expiration, as its range was $0.40 to $1.47 today

For the 'return matrix' heatmap, it's the option A. At the entry date, the exact options are selected (the expiries and strikes). I look at the price of those options at the entry day, and recheck the prices at the exit dates. So it's not like in the RV chart where each day the strikes reset. In the heatmap, when you look at a row, it's always the same option(s). You can check that by looking at the 'individual cycles', and hovering on a cell to see the expiry and strike selected.

I am thinking the answer is neither. Take into account we have 4 variables that we take into account over the period Entry to Exit: price of options change in option price based on historical returns change of stock price decline of RV The ratio is composed of 2 options - a short and a long position. By convention the ratio is calculated on a zero cost basis otherwise the return calculations get too complex due to variable remainder from the division. So the historic increase of each option short and long is factored in for every entry and exit date - this should include IV changes and stock price changes. We then deduct historic RV decline on the extrinsic values to ensure that we factor this component in as it affects our position in a negative sense. Start value=0 End value =((long option price+long option price increase) - RV decline on extrinsic value of long option)-((short option price+short option price increase) - RV decline on extrinsic value of short option)