WNTR led income-source signals — 2026-04-10

The W06 watchlist had three questions. ABNY answered one of them.
ABNY came in at net per share 0.494 this week — up from 0.390 last week, under comparable coverage. Two consecutive observations at this level is the threshold where a first read starts to look like a pattern in progress.
The other story this week is WNTR, which ranks first at 4.498. That number is extraction-valid and covered by five intraday files. It’s also the highest single-week net per share figure in this tracked set since CRCO posted 9.68 in W05. CRCO reset to 0.387 the following week. That context belongs in the read before anything else.

This week’s income-source pulse

Window: 2026-04-06 → 2026-04-10 (US Mon–Fri), frozen as-of 2026-04-10. This ranking covers Group-1, Group-2, and Target-12 tickers sorted by net per share descending. It is not a performance score. Three structural notes apply this week: WNTR’s net per share of 4.498 is a first observation with no prior week to compare against; PLTY carries the widest discount in this week’s ranked set at −8.23%; and AMZY is the only ticker in the top 10 trading at a premium, at +6.65%.

Anchor read: WNTR — first observation, high number, full coverage

WNTR ranks first at net per share 4.498, net $12.37M, PIN $13.69M, POUT $1.32M. Coverage: 5 intraday files, 13 holdings rows — full for this window. DQ level: ok.
The number is large by any comparison in this dataset. W06’s top-ranked ticker, ULTY, came in at 0.788. WNTR is 5.7× that figure. The coverage is clean, the calculation checks out, and there are no structural flags. None of that resolves the more basic question: whether this is the start of a repeatable pattern or a single-week spike.
The W05 precedent is worth holding in full. CRCO posted 9.68 under 4 intraday files — a high number under clean coverage. The following week, PIN collapsed from $15.7M to $1.49M and net per share reset to 0.387. WNTR’s structure is different in one way: POUT at $1.32M is proportionally lower relative to PIN $13.69M than CRCO’s split was. But that difference doesn’t change the interpretive principle. One week of high net per share under full coverage is a first observation. If WNTR appears again next week at comparable coverage, the read changes.

ABNY — W06 watchlist result

ABNY ranks eighth at net per share 0.494, net $326K, PIN $934K, POUT $608K. Coverage: 3 intraday files, 4 holdings rows. Underlier: ABNB.
The W06 watchlist asked whether ABNY’s 0.390 would repeat at comparable or better coverage. It did — 0.494 under the same intraday file count. Two consecutive observations above 0.35 under consistent coverage moves this from a first read toward a pattern in progress. Holdings rows remain at 4, which is a thin snapshot for a fund with 659,981 shares outstanding — the income figure is extraction-valid; the holdings context is limited. The condition to watch next week: does the figure hold above 0.35 under 3+ intraday files for a third consecutive week?

Why these moved (grounded notes)

One observable field, one stated limitation per ticker. The most common mistake is treating net per share rank as a quality ranking — it isn’t.

• WNTR (G1): net per share 4.498, net $12.37M — PIN $13.69M, POUT $1.32M, intra 5 files, holdings 13. Full coverage. First observation; no prior week to compare. Discount −0.31%.
• PLTY (G2, underlier PLTR): net per share 2.411, net $24.53M — PIN $30.65M, POUT $6.12M, intra 4 files, holdings 19. Largest absolute net this week. Discount −8.23%, widest in ranked set.
• AMZY (G2, underlier AMZN): net per share 1.339, net $26.37M — PIN $27.70M, POUT $1.33M, intra 3 files, holdings 7. Only ticker in top 10 at a premium: +6.65%. Mid-range coverage; holdings 7 is a thin snapshot.
• CONY (G2, underlier COIN): net per share 1.312, net $19.78M — PIN $26.76M, POUT $6.98M, intra 3 files, holdings 15. Mid-range coverage; no structural flags.
• HIYY (G1): net per share 0.585, net $1.23M — PIN $1.69M, POUT $464K, intra 4 files, holdings 6. Small fund (AUM $27.3M); per-share ratio reflects small float. Slight premium +0.78%.
• ULTY (G1): net per share 0.567, net $15.19M — PIN $23.28M, POUT $8.08M, intra 5 files, holdings 60. Thickest coverage in this week’s ranked set. W06 level was 0.788 — compressed this week under even fuller holdings capture.
• GMEY (G1): net per share 0.556, net $41.7K — PIN $67.2K, POUT $25.5K, intra 2 files, holdings 6. Thinnest intraday coverage in top 10. AUM $2.42M — smallest in ranked set. Small-float amplification likely; first observation.
• ABNY (G2, underlier ABNB): net per share 0.494, net $326K — PIN $934K, POUT $608K, intra 3 files, holdings 4. Second consecutive week above 0.35; see anchor read above. Discount −0.91%.
• HOOY (G1): net per share 0.447, net $1.53M — PIN $2.75M, POUT $1.22M, intra 4 files, holdings 12. Third consecutive week in the top 10. Discount −1.05%.
• RBLY (G2, underlier RBLX): net per share 0.378, net $28.3K — PIN $48.9K, POUT $20.6K, intra 3 files, holdings 4. Small float (shares out 75,000, AUM $1.29M). Second appearance after W05.

Weekly take (author commentary)

Two things are true about WNTR‘s 4.498 this week. The data is clean — five intraday files, DQ ok, calculation verified. And a single clean observation of a number that large isn’t enough to read it as durable. The W05 CRCO situation is the reference: 9.68 under full coverage, followed by a complete reset the following week. I’m logging WNTR’s figure as a first observation and watching whether it holds. That’s the only honest read available from one week of data.

ULTY‘s compression from 0.788 to 0.567 is worth noting in context. The W06 watchlist asked whether that level would hold or whether it was a spike. 0.567 is below 0.788, but this week’s coverage is thicker — 5 intraday files and 60 holdings rows. A lower number under comparable or better coverage is a more reliable observation than a higher number under thinner capture. The direction went down; the interpretive confidence went up slightly.

ABNY at 0.494 is this week’s clearest pattern in progress read. Two consecutive weeks above 0.35, same intraday file count, holdings consistently thin at 4 rows. The income figure is repeating; the data quality is stable. Whether 0.35 is the right threshold for confirmation is something the third week will resolve.

HOOY appears for the third consecutive week, this time at 0.447. W05: 0.396. W06: 0.365. W07: 0.447. The direction isn’t linear — it’s moved in both directions — but three weeks of presence with consistent intraday coverage of 4 files each week is worth logging as a stable pattern, not just a recurring name.

The premium/discount context returned this week after being absent in W06. PLTY at −8.23% is the widest discount in the ranked set; AMZY at +6.65% is the only positive-premium ticker in the top 10. Premium and income formation are separate layers — both are logged here without conflating them.

GMEY appears at 7th with net per share 0.556 — but under 2 intraday files and an AUM of $2.42M. That combination makes it the least interpretively reliable observation in this week’s top 10. The number isn’t wrong; the coverage just doesn’t support the same confidence level as the tickers above it in the table. Tracking whether it reappears next week under fuller capture is the right next step, not treating this week’s figure as settled.

A note on how to read this table: net per share rank and data reliability are not the same axis. WNTR sits at rank 1; ULTY sits at rank 6. ULTY has 60 holdings rows and 5 intraday files this week — the most complete observation in the dataset. WNTR has 13 holdings rows and 5 intraday files. Both have full intraday coverage; the holdings depth is different. That difference doesn’t change the ranking, but it does change how much structural context is available for each read.

This is not an ex-dividend-cycle model and not a performance score. Net per share is a weekly cashflow ratio derived from observed option trades — not a distribution forecast and not a total return measure. Income-source tracking and NAV movement are separate observations; both matter, and neither replaces the other.

Risk checklist (readable, not fine print)

WNTR: first observation at 4.498 under full coverage — no prior week available for comparison; treat as a single data point until confirmed in subsequent weeks.
GMEY: intra 2 files this week — thinnest coverage among top 10; net per share figure carries more uncertainty than same-ranked tickers with fuller capture.
AMZY: premium +6.65% — only positive-premium ticker in the ranked set; pricing context logged separately from income-source signal.
Coverage varies week to week; income-source signals are not total return — sustained weekly net per share can coexist with NAV movement in either direction over time.

Top 3 highlight cards

Coverage notes (intraday/holdings)

Top movers — full table

Target-12 reference

T12 group this week: SOXY (net per share 0.312, intra 4 files), BIGY (0.194, intra 4 files), RNTY (0.107, intra 2 files). NVIT skipped — no intraday files in the window. SOXY’s coverage improved significantly from last week’s single intraday file to four this week, making it the most complete T12 observation in recent weeks. RNTY at 2 files is the thinnest in the T12 set; net figure logged as reference only.

Next-week watchlist (monitoring prompts)

WNTR: Does net per share hold above 2.0 under 4+ intraday files? First observation this week at 4.498 — the W05 CRCO precedent makes this the primary question for next week.
ABNY: Does the figure hold above 0.35 under 3+ intraday files for a third consecutive week? Two consecutive observations already logged — a third would move this to confirmed pattern.

These are monitoring prompts, not recommendations.

Data scope & limits

This post tracks weekly options income-source signals using intraday + holdings data.
Missing/holiday days are skipped (no forced fills).
This is NOT an ex-dividend-cycle model.
WNTR’s net per share of 4.498 is a first observation — no prior week available for comparison in this tracked set; treat accordingly.

Ticker links open the latest view. Internal links: Guide · Glossary · Featured ticker (WNTR) · Net per Share explained · Why coverage matters · Yield vs income formation

Frozen snapshot for 2026-04-10. Corrections appear in subsequent weekly logs.

Reference-only (excluded from ranking)