10 contracts (1,000 sh) | BE SS: $256.25 | CC-SS: $235.11 | IV: MEDIUM | Accounts: Joint:1782
| Max Loss | $67,500 | (ND $37.50 + SW $30) x 1000 |
| Normal income ref | $13,615/mo | 75% ann ROI on ML |
| Hedge (static, never rolled) | $0/mo | HP expiry = SP LEAPS; decay ≈ $2,059/mo (info only, already in marks) |
| Unrealized P&L | $7,490 | fortress legs from IBKR |
Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 10 contracts). The master ranks the two by E[net]/mo to pick one grand pick; both are shown here so you can choose the tenor that fits your roll cadence.
| Track | Expiry | Sell | Survival | Income/mo | E[net]/mo |
|---|---|---|---|---|---|
| NEXT FRIDAY 🏆 | 17 Jul 2026 · 6d | 9 × $252.50 | 75% | $7,380 | $2,217 |
| Rung | Sell | Expiry | DTE | OTM | Survival | Touch odds | Per cycle | Income/mo | Δ vs pick | Cap give-up | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▸ | 🛡 safe yield | 10 × $262.50 | 17 Jul | 6d | 6.8% | 94% | 12% | $380 | $1,900 | -$5,480 | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 10 × $262.50 6.8% OTM over spot $245.70 17 Jul 2026 (6d, $0.39 mid) = $380 credit for the 6d cycle → $1,900/mo projected Survival (stays ≤ $262.50) 94% Breach risk 6% POP (stays ≤ $262.89) 94% EV / mo +$1,240 🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it) Challenge odds (touch by expiry) 6% Flat exit net (mid-life) -$2,812 Free roll-up none Safest escape (by 31 Jul 2026) $282 @ 83% POP 80% survival Roll menuyour doors if the call gets challenged; each row = buy back the 10 calls + sell the new ones, one order. Prices assume the central case (day 3 of 6); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $4.51/sh now → $3.19 mid-life (likely $2.69–$4.52) → ≈ $0 at expiry | you banked $0.38/sh, so a flat mid-life exit nets -$2.81/sh | roll rows are incremental, the banked premium stays yours 📊 Across 188 simulated challenges: the $262 strike is typically first touched on day 5 of 6, at $265 (overshoots $2.24). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike. POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP. Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened. More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stressIncome coverage
Downside budget ✓ $262.50 is at/above CC-SS $235.11: assignment is break-even or better.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.10/sh (~25% of the $0.38 collected) or spot ≥ $262.89 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $262)); NOT the premium you collected. Momentum override: two daily closes above $251.61 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.90 (fallback)
V-BOUNCE STRESS (stock → CC-SS $235.11, where you are whole again, by expiry) Starting unrealized P&L: $7,490 + Fortress recovery (un-capped): +$0 − CC assignment net of premium (10 × $262.50): -$0 Total Position P&L @ SS: $7,490 (+$0 vs today) Do-nothing baseline at SS: $8,750 (this trade vs do-nothing: $-1,260, the opportunity cost of earning $1,900/mo FIGHT income now) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 33% normal ← lean | 9 × $255 | 17 Jul | 6d | 3.8% | 82% | 36% | $1,008 | $5,040 | -$2,340 | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 9 × $255 3.8% OTM over spot $245.70 17 Jul 2026 (6d, $1.18 mid) = $1,008 credit for the 6d cycle → $5,040/mo projected Survival (stays ≤ $255) 82% Breach risk 18% POP (stays ≤ $256.18) 85% EV / mo +$2,126 🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it) Challenge odds (touch by expiry) 26% Flat exit net (mid-life) -$1,783 Free roll-up none Safest escape (by 31 Jul 2026) $279 @ 86% POP 84% survival Roll menuyour doors if the call gets challenged; each row = buy back the 9 calls + sell the new ones, one order. Prices assume the central case (day 3 of 6); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $4.39/sh now → $3.10 mid-life (likely $3.00–$4.92) → ≈ $0 at expiry | you banked $1.12/sh, so a flat mid-life exit nets -$1.98/sh | roll rows are incremental, the banked premium stays yours 📊 Across 795 simulated challenges: the $255 strike is typically first touched on day 4 of 6, at $257 (overshoots $2.34). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike. POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP. Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened. More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stressIncome coverage
Downside budget ✓ $255 is at/above CC-SS $235.11: assignment is break-even or better.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.28/sh (~25% of the $1.12 collected) or spot ≥ $256.18 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $255)); NOT the premium you collected. Momentum override: two daily closes above $251.61 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.90 (fallback)
V-BOUNCE STRESS (stock → CC-SS $235.11, where you are whole again, by expiry) Starting unrealized P&L: $7,490 + Fortress recovery (un-capped): +$0 − CC assignment net of premium (9 × $255): -$0 + Conservative CC premium (1 × $257.50): +$126 Total Position P&L @ SS: $7,616 (+$126 vs today) Do-nothing baseline at SS: $8,750 (this trade vs do-nothing: $-1,134, the opportunity cost of earning $5,040/mo FIGHT income now) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🎯 50% normal | 9 × $252.50 | 17 Jul | 6d | 2.8% | 75% | 37% | $1,476 | $7,380 | — | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 9 × $252.50 2.8% OTM over spot $245.70 17 Jul 2026 (6d, $1.70 mid) = $1,476 credit for the 6d cycle → $7,380/mo projected Survival (stays ≤ $252.50) 75% Breach risk 25% POP (stays ≤ $254.20) 80% EV / mo +$2,599 🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it) Challenge odds (touch by expiry) 37% Flat exit net (mid-life) -$1,287 Free roll-up none Safest escape (by 31 Jul 2026) $282 @ 90% POP 88% survival Roll menuyour doors if the call gets challenged; each row = buy back the 9 calls + sell the new ones, one order. Prices assume the central case (day 3 of 6); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $4.34/sh now → $3.07 mid-life (likely $3.32–$5.28) → ≈ $0 at expiry | you banked $1.64/sh, so a flat mid-life exit nets -$1.43/sh | roll rows are incremental, the banked premium stays yours 📊 Across 1,121 simulated challenges: the $252 strike is typically first touched on day 3 of 6, at $255 (overshoots $2.39). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike. POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP. Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened. More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stressIncome coverage
Downside budget ✓ $252.50 is at/above CC-SS $235.11: assignment is break-even or better.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.41/sh (~25% of the $1.64 collected) or spot ≥ $254.20 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $252)); NOT the premium you collected. Momentum override: two daily closes above $251.61 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.90 (fallback)
V-BOUNCE STRESS (stock → CC-SS $235.11, where you are whole again, by expiry) Starting unrealized P&L: $7,490 + Fortress recovery (un-capped): +$0 − CC assignment net of premium (9 × $252.50): -$0 + Conservative CC premium (1 × $257.50): +$126 Total Position P&L @ SS: $7,616 (+$126 vs today) Do-nothing baseline at SS: $8,750 (this trade vs do-nothing: $-1,134, the opportunity cost of earning $7,380/mo FIGHT income now) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 100% normal | 9 × $247.50 | 17 Jul | 6d | 0.7% | 58% | 85% | $2,970 | $14,850 | +$7,470 | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 9 × $247.50 0.7% OTM over spot $245.70 17 Jul 2026 (6d, $3.38 mid) = $2,970 credit for the 6d cycle → $14,850/mo projected Survival (stays ≤ $247.50) 58% Breach risk 42% POP (stays ≤ $250.88) 70% EV / mo +$3,288 🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it) Challenge odds (touch by expiry) 67% Flat exit net (mid-life) +$261 Free roll-up none Safest escape (by 31 Jul 2026) $282 @ 92% POP 91% survival Roll menuyour doors if the call gets challenged; each row = buy back the 9 calls + sell the new ones, one order. Prices assume the central case (day 3 of 6); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $4.26/sh now → $3.01 mid-life (likely $4.00–$5.92) → ≈ $0 at expiry | you banked $3.30/sh, so a flat mid-life exit nets +$0.29/sh | roll rows are incremental, the banked premium stays yours 📊 Across 2,006 simulated challenges: the $248 strike is typically first touched on day 2 of 6, at $250 (overshoots $2.62). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike. POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP. Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened. More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stressIncome coverage
Downside budget ✓ $247.50 is at/above CC-SS $235.11: assignment is break-even or better.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.82/sh (~25% of the $3.30 collected) or spot ≥ $250.88 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $248)); NOT the premium you collected. Momentum override: two daily closes above $251.61 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.90 (fallback)
V-BOUNCE STRESS (stock → CC-SS $235.11, where you are whole again, by expiry) Starting unrealized P&L: $7,490 + Fortress recovery (un-capped): +$0 − CC assignment net of premium (9 × $247.50): -$0 + Conservative CC premium (1 × $257.50): +$126 Total Position P&L @ SS: $7,616 (+$126 vs today) Do-nothing baseline at SS: $8,750 (this trade vs do-nothing: $-1,134, the opportunity cost of earning $14,850/mo FIGHT income now) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Every eligible strike x expiry in the 4-45 DTE band (6 expiries scanned, 28 clear the income floor), each sized to the minimum contracts that clear it. Sorted by survival (safest first): the primary 🎯 is the safest; rows below trade safety for income.
Fortress delta: 0.900 (fallback) | Recovery@SS: +$0 (un-capped fortress gain if stock rallies to SS) | Do-nothing @ SS: $8,750
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $252.50 | 4d | 15 Jul 2026 | $0.95 | 10/10 | $7,125 | $7,125 | 81% | 84% | +$3,015 | -$0 | 0.0% | $8,440 (vs do-nothing $-310) |
| $252.50 | 6d | 17 Jul 2026 | $1.64 | 9/10 | $7,380 | $7,724 | 75% | 80% | +$2,599 | -$0 | 0.0% | $9,092 (vs do-nothing +$342) |
| $252.50 | 9d | 20 Jul 2026 | $2.05 | 10/10 | $6,833 | $6,833 | 73% | 79% | +$2,160 | -$0 | 0.0% | $9,540 (vs do-nothing +$790) |
| $260 | 20d | 31 Jul 2026 | $5.10 | 9/10 | $6,885 | $7,229 | 72% | 78% | +$2,046 | -$0 | 0.0% | $12,206 (vs do-nothing +$3,456) |
| $250 | 4d | 15 Jul 2026 | $1.53 | 6/10 | $6,885 | $8,260 | 71% | 78% | +$2,254 | -$0 | 0.0% | $8,912 (vs do-nothing +$162) |
| $252.50 | 11d | 22 Jul 2026 | $2.56 | 10/10 | $6,982 | $6,982 | 70% | 77% | +$1,458 | -$0 | 0.0% | $10,050 (vs do-nothing +$1,300) |
| $252.50 | 13d | 24 Jul 2026 | $3.50 | 9/10 | $7,269 | $7,613 | 68% | 76% | +$1,892 | -$0 | 0.0% | $10,766 (vs do-nothing +$2,016) |
| $255 | 20d | 31 Jul 2026 | $6.65 | 7/10 | $6,983 | $8,013 | 66% | 75% | +$1,747 | -$0 | 0.0% | $12,523 (vs do-nothing +$3,773) |
| $250 | 9d | 20 Jul 2026 | $2.65 | 8/10 | $7,067 | $7,754 | 66% | 74% | +$1,458 | -$0 | 0.0% | $9,862 (vs do-nothing +$1,112) |
| $250 | 11d | 22 Jul 2026 | $3.35 | 8/10 | $7,309 | $7,996 | 63% | 73% | +$1,180 | -$0 | 0.0% | $10,422 (vs do-nothing +$1,672) |
| $250 | 13d | 24 Jul 2026 | $4.40 | 7/10 | $7,108 | $8,139 | 62% | 72% | +$1,602 | -$0 | 0.0% | $10,948 (vs do-nothing +$2,198) |
| $247.50 | 4d | 15 Jul 2026 | $2.37 | 4/10 | $7,110 | $9,172 | 60% | 71% | +$1,666 | -$0 | 0.0% | $9,194 (vs do-nothing +$444) |
| $250 | 20d | 31 Jul 2026 | $8.40 | 6/10 | $7,560 | $8,935 | 59% | 71% | +$1,444 | -$0 | 0.0% | $13,034 (vs do-nothing +$4,284) |
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $247.50 | 6d | 17 Jul 2026 | $3.30 | 5/10 | $8,250 | $9,968 | 58% | 70% | +$1,827 | -$0 | 0.0% | $9,770 (vs do-nothing +$1,020) |
| $247.50 | 9d | 20 Jul 2026 | $3.60 | 6/10 | $7,200 | $8,575 | 57% | 70% | +$1,100 | -$0 | 0.0% | $10,154 (vs do-nothing +$1,404) |
| $247.50 | 11d | 22 Jul 2026 | $4.15 | 7/10 | $7,923 | $8,954 | 56% | 69% | +$668 | -$0 | 0.0% | $10,773 (vs do-nothing +$2,023) |
| $247.50 | 13d | 24 Jul 2026 | $5.40 | 6/10 | $7,477 | $8,851 | 56% | 69% | +$1,372 | -$0 | 0.0% | $11,234 (vs do-nothing +$2,484) |
| $245 | 20d | 31 Jul 2026 | $10.80 | 5/10 | $8,100 | $9,818 | 51% | 67% | +$1,306 | -$0 | 0.0% | $13,520 (vs do-nothing +$4,770) |
| $245 | 13d | 24 Jul 2026 | $6.60 | 5/10 | $7,615 | $9,334 | 49% | 66% | +$1,150 | -$0 | 0.0% | $11,420 (vs do-nothing +$2,670) |
| $245 | 11d | 22 Jul 2026 | $5.75 | 5/10 | $7,841 | $9,559 | 49% | 66% | +$1,008 | -$0 | 0.0% | $10,995 (vs do-nothing +$2,245) |
| $245 | 9d | 20 Jul 2026 | $4.80 | 5/10 | $8,000 | $9,718 | 49% | 66% | +$894 | -$0 | 0.0% | $10,520 (vs do-nothing +$1,770) |
| $245 | 6d | 17 Jul 2026 | $4.45 | 4/10 | $8,900 | $10,962 | 48% | 66% | +$1,401 | -$0 | 0.0% | $10,026 (vs do-nothing +$1,276) |
| $245 | 4d | 15 Jul 2026 | $3.45 | 3/10 | $7,762 | $10,168 | 47% | 65% | +$1,067 | -$0 | 0.0% | $9,407 (vs do-nothing +$657) |
| $242.50 | 13d | 24 Jul 2026 | $8.00 | 4/10 | $7,385 | $9,446 | 43% | 64% | +$927 | -$0 | 0.0% | $11,446 (vs do-nothing +$2,696) |
| $242.50 | 11d | 22 Jul 2026 | $6.70 | 4/10 | $7,309 | $9,371 | 42% | 62% | +$280 | -$0 | 0.0% | $10,926 (vs do-nothing +$2,176) |
| $242.50 | 9d | 20 Jul 2026 | $6.00 | 4/10 | $8,000 | $10,062 | 40% | 61% | +$340 | -$0 | 0.0% | $10,646 (vs do-nothing +$1,896) |
| $242.50 | 6d | 17 Jul 2026 | $5.90 | 3/10 | $8,850 | $11,255 | 38% | 62% | +$1,004 | -$0 | 0.0% | $10,142 (vs do-nothing +$1,392) |
| $242.50 | 4d | 15 Jul 2026 | $4.80 | 2/10 | $7,200 | $9,949 | 35% | 60% | +$408 | -$0 | 0.0% | $9,458 (vs do-nothing +$708) |
Income/mo = FIGHT leg gross, DTE-prorated. Net/mo = FIGHT + conservative CC gross minus hedge cost. POP (mid) = probability stock closes at or below (strike + mid premium) at expiry, per-strike chain IV when available. Survival = CC expires fully worthless. EV/mo = premium minus expected buyback, monthly, with realized vol = IV x 85% (variance risk premium 15%). Cap give-up @ SS = recovery mortgaged on a V-bounce to SS, net of premium. Total P&L @ SS = absolute position P&L if the stock closes at SS; "vs do-nothing" = opportunity cost against holding all 10 contracts at the conservative CC.