$25M ALLOCATION PLAN · FIVE SLEEVES · ~$152k/MO OF INCOME · NO FORCED-LIQUIDATION PATH

Five sleeves, each with one job. The two option books are each funded to their full max loss (the no-liquidation rule), the convexity sleeve is calls only (the premium is the whole risk), and the ETFs and property carry no leverage. So no market move can force a sale; the worst cases below are paper losses the plan rides.

A rough 12-month P&L per sleeve under three market paths, income included. The bad year is a 2022 replay (equities down a quarter to a third, crypto down hard, gold flat). The option sleeves are marked with Black-Scholes at each leg's own implied vol, one year closer to expiry; the Income Book uses its own tab's −30% shock row and earns 60% of its normal income in the bad year (fewer calls get written in a drawdown).

The Income Book tab as it stands, scaled from its $2.95M account to $3.50M (about 1.19x the contracts, same 0.93x max-loss-to-cash). Its income is already priced at what your calls have actually earned, not model premium, so this is the most battle-tested number on the page. Every contract is written, so a rally only adds about one cycle of upside; that is the job of sleeves 2 and 5.

Calls only, per the moonshot rule: no short puts, so the premium is the entire risk and nothing can be liquidated. Jan-2029 expiry (listing now) with strikes near 3x spot, split evenly between MARA and BMNR. Illustrative pricing: Black-Scholes at the implied vol backed out of the latest real far-OTM quotes (MARA Dec-27 35C at $1.99 on 09-23, BMNR Jan-28 70C at $2.75 on 08-23), which reflects the call skew. Re-derive strikes live with leap_builder --forecast --structure pure before buying. This sleeve pays nothing and probably expires near zero unless crypto re-rates; when it does, it is the plan's biggest single winner.

No data source behind this sleeve yet, so it carries placeholder assumptions: unlevered, a 3.0% net yield after costs, 3.0%/yr appreciation. It is the largest sleeve (a third of the plan), so these two inputs move the headline income more than anything else on the page: every 0.5% of net yield is $3,333/mo. Replace them with the actual properties' numbers when chosen.

The suggested split is picked for how these four behave inside this plan, not in isolation. The rest of the plan is already long tech (the upside fortresses own GOOG, AMZN, META, MU, AMD, DELL, PLTR) and long crypto (sleeve 2). QQQ moves with that tech basket almost one-for-one (+0.90) and IBIT moves with MARA (+0.70), so large weights in either just repeat bets the plan already makes. GLD is barely correlated with anything else here, so it gets a big weight. SPY is the anchor.

Checked against history, rebalanced quarterly. The recommended mix has the best risk-adjusted return (Sharpe) in both windows, the shallowest drawdown since IBIT launched, and about the same volatility as holding SPY alone while returning far more. More IBIT or equal weights raised return a little in this bull run but bought more volatility and drawdown than they paid for; 5 years (with Bitcoin standing in for IBIT, so 2022 is included) shows the same ranking.

Seven leap_builder fortresses (long LEAPS call, financed by a short put, floored by an owned hedge put, all on the Dec-28/Jan-29 chain), each sized so its max loss equals its budget: GOOG $1.0M, AMZN $0.8M, META $0.8M, MU $0.7M, AMD $0.6M, DELL $0.6M, PLTR $0.5M. No calls are written, so the upside is uncapped. The names are deliberate: AMZN, META and MU are capped inside the Income Book, so this sleeve gives back their upside; GOOG, AMD, DELL and PLTR realize too little call income to earn an Income Book seat but are strong growth exposure. $2.81M is invested; the other $2.19M sits as the cash that backs the max loss and earns $6,161/mo.

The honest trade-off versus simply buying $5.00M of the same shares: the fortresses need the names to rise to pay. Flat by expiry, the time value and hedge puts cost about $1.30M; a broad −30% loses the full max loss. The break-even against shares is about +14% by expiry; a normal +10%/yr drift is about +24% over the 2.25 years, and from there the 1.9x exposure pulls clearly ahead.