Educational resource. Not financial advice. Example parameters are illustrative. Options can lose money quickly, including total loss of premium paid or assignment into stock. Not affiliated with Robinhood Markets, Inc.

Options Map for Agentic Experiments

A plain map of what this desk can try on a Robinhood Agentic cash book via Trading MCP, what belongs in the Robinhood app instead, and how to choose between steady income and strong reward without pretending they are the same product.

This page is also where we document MCP learning: what the tool can place today, what we approximate with extra single-leg orders, and what we still leave to the app.

Desk notes: Wheel desk, Scalp desk, Evidence desk logs. Capital locks: Wheel capital.

Desk constraints (start here)

Constraint	What it means
Agentic cash book	No naked margin shorts; cash-secured puts need cash equal to strike × 100
Options Level 2	Long calls/puts, cash-secured puts, covered calls are in scope on the account
Trading MCP	Single-leg place/cancel only. True multi-leg tickets (spreads, condors) are not placeable on this MCP path yet
Starter rule	Prefer one open short put at a time; keep an equity scalp sleeve free

Multi-leg “defined risk” income with efficient collateral usually needs the RH app. Below we also cover a two-order MCP workaround and its costs.

Two jobs: steady earnings vs strong reward

Job	What you optimize for	Typical tools	Honest trade-off
Steady earnings	Small, repeatable credits; rules over drama	CSP, covered call, (app) credit spreads / condors	Capped win. Cash can lock. Stock ownership is possible
Strong reward	Asymmetric upside if the thesis is right	Long call / long put, debit spreads (app), equity	Many ideas expire worthless or stop out. Not a paycheck

Mixing the jobs in one ticket is how people get confused. A CSP is rent for downside risk, not a savings account and not a call on a moonshot.

Strategy map (experiments)

A. Live on this MCP desk today

Strategy	Job	Own stock?	Liquidity while open	Pros	Cons
Cash-secured put (CSP)	Steady	Only if assigned	Locks strike × 100	Clear rules; theta can help; assignment is planned	Capped credit; crash loss ≫ premium; cash locked
CSP, manage early	Steady, cash-first	Avoid if you BTC before assign	Same lock until BTC	Keeps the Wheel optional; frees cash on ~50% / ≤21 DTE	Pin / ITM risk still exists near expiry
CSP + long lower put (two tickets)	Steady, capped crash	Less likely as the default	Often still locks short-strike cash plus long-put debit	Caps economic downside vs naked CSP	Leg risk; usually worse capital than an app spread
Covered call (CC)	Steady	Yes (need 100 shares)	Capital sits in stock	Income on shares you already hold	Upside capped; overnight stock risk
Long call	Strong reward	No	Debit only (premium paid)	Upside without buying 100 shares	Can lose 100% of debit; timing matters
Long put	Strong reward / hedge	No	Debit only	Pays if the stock falls hard	Often decays; not “income”
Equity scalp	Tactical	Briefly	Flexible	Full stock P&L; no CSP lock	Different playbook; hard flat clocks

Field notes: Equity scalp playbook, Wheel desk.

B. App / higher-level track (not MCP place yet)

Strategy	Job	Own stock?	Why people use it	Watch-outs
Put credit spread	Steady	Usually no	Defined risk; collateral ≈ width, not full strike	Smaller credit than naked CSP; still can lose the width
Call credit spread	Steady / mild bear	No	Collect premium with a ceiling	Needs a real thesis; not free money
Iron condor	Steady “range”	No	Profit if price stays quiet	Loses on big moves either way
Debit call / put spread	Strong reward, cheaper	No	Caps loss vs naked long option	Caps win too

Document experiments here when the desk actually runs them. Until then, this table is a menu, not a live session log.

MCP learning: fake multi-leg with separate orders

Trading MCP places one leg per order. Robinhood’s own MCP notes say multi-leg structures belong in the apps, and stock+option “combo” orders are not supported on this path.

That still leaves a useful experiment: place two (or more) single-leg orders that together look like a spread.

Synthetic put credit spread (short put + long put)

Step	Order	Role
1	Sell cash-secured put at strike A	Collect credit; willing to buy shares at A
2	Buy put at lower strike B (same expiry, same size)	Cap how bad a crash can get

Illustrative shape: short $22 put, long $20 put. Width is $2. Rough economic max loss on the package is on the order of width minus net credit (about $200 per package before fees), not “stock to zero on full short-strike cash.”

	True app put credit spread	Two MCP single-leg orders
Ticket	One multi-leg order	Two separate orders
Fill risk	Legs usually fill together	Leg risk: one fills, the other misses or slips
Crash cap	Yes (defined width)	Yes if both legs are on
Cash on Agentic	Often collateral ≈ width	Cash CSP may still lock strike A × 100, and you also pay for the long put
Desk fit	Best when you want defined risk and free capital	Experiment when you accept worse liquidity for a hedge

Do not confuse: selling a put and separately selling a call is not this hedge. It is a different risk book.

Downside controls that do not need a second leg

These are the default Agentic Wheel controls today. They shrink the largest loss by exiting, not by hedging:

Profit BTC near ~50% of credit (free collateral early)
Time BTC by ≤21 DTE (avoid expiry-week pin theater)
Defense BTC if the put mark blows out as the stock cracks toward the strike (take a small loss vs sit into a hole)
Size and strike (one contract; OTM delta band; skip earnings)
Resting buy-to-close after fill (limit near half credit) so manage is mechanical

For crash risk and efficient capital, prefer a real put credit spread in the RH app. For crash risk on MCP today, the two-order synthetic is the honest workaround, with leg risk and possible full CSP lock documented up front.

Experiment status (desk)

Idea	Status on this desk
Naked CSP + 50% / 21 DTE manage	Live (see Wheel desk, 2026-07-24 log)
Defense BTC / resting BTC as rules	Playbook-compatible; publish when a session uses them
Synthetic short+long put via two MCP orders	Documented menu; not yet a published live experiment
App multi-leg put credit spread	Future track (better capital for defined risk)

When we run a synthetic or app-spread session, it lands in Evidence that day and gets a headline on the Wheel desk index.

If you want cash liquidity (and do not want stock)

Assignment is the middle of a classic Wheel. It is not failure in that playbook. It is a problem if your real goal is “keep buying power in cash.”

Practical ladder:

Do not sell puts you refuse to own. Willing-to-own is the first gate.
CSP with hard manage: buy to close near ~50% of credit or by ≤21 DTE. Do not milk into expiry week if shares are unacceptable.
Defense BTC if the short put mark blows out before assignment week.
Prefer defined-risk put credit spreads in the app when you want income without full strike collateral and without assignment as the default path.
Optional MCP experiment: add a long lower put (two tickets) knowing cash may still stay locked on the short strike.
Use long options (or debit spreads) when the idea is directional: you risk premium, not “become a shareholder by force.”
Skip covered calls if you are trying to stay in cash. They start from stock.

Pin risk remains near expiry if a short put finishes ITM. Cash-first still means watching the clock, not ignoring it.

Failure mode vs favorable path (CSP example)

Costs money: stock gaps or trends well below the short strike. You get assigned into a drawdown that can dwarf the credit you collected. Premium was rent for that risk, not a free upgrade to idle cash.

Turns favorable: stock holds or rises, volatility calms, put mark falls toward ~half credit. You buy to close, keep most of the credit, and unlock collateral. A rip far above the strike is great for the put seller, but you still only keep the credit. You do not own the moonshot.

With a long lower put on: the crash path is capped near the width, but you paid for that insurance and may still have short-strike cash locked until the short put is closed.

More capital timing detail: Wheel capital & timelines. First live CSP framing: Desk log 2026-07-24.

How we publish experiments

Surface	What goes there
Evidence desk logs	Day narrative: scanners, gates, sits, fills, lessons (sanitized)
Wheel desk, Scalp desk	Newest-first headlines
This page	Strategy map, MCP limits, synthetic multi-leg learning, cash-first choices
Wheel capital	What locks, for how long, assignment path
Robinhood Trading MCP	What the tool is for, review → place guardrails

Skip and sit remain publishable outcomes. See Sitting on your hands and When the desk should sit.

FAQ

Is this a signal list?
No. It is an educational map of structures the Agentic experiments may use. Nothing here is a recommendation to buy or sell any security.

Why not automate spreads tomorrow?
Trading MCP on this desk is single-leg today. True multi-leg tickets belong in the app track until that changes.

Can we fake a multi-leg on MCP anyway?
Yes: two single-leg orders (for example short put + long lower put). That can cap crash risk. It does not remove leg risk, and on a cash CSP book it often does not free the full short-strike collateral the way an app spread can.

What is the simplest control without a second leg?
Manage and defense buy-to-close rules, plus size and earnings gates. Exit early beats hoping the hole fills.

Can I do “strong reward” and “steady earnings” on the same small book?
Yes as separate sleeves with separate rules. No as one confused ticket that wants paycheck income and lottery upside at once.

Disclaimer

Educational only. Not an offer to buy or sell securities. Past patterns are not future results. You are responsible for every order placed in your accounts. This site is not a broker-dealer and is not affiliated with Robinhood. See /disclaimer.