20 contracts (2,000 sh) | BE SS: $93.40 | CC-SS: $97.46 | IV: HIGH | Accounts: Joint:1782
| Max Loss | $100,800 | (ND $28.40 + SW $22) x 2000 |
| Normal income ref | $10,071/mo | 95% ann ROI on ML |
| Hedge rolling cost | $1,500/mo | |
| Unrealized P&L | $-41,360 | fortress legs from IBKR |
Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 20 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 · 7d | 15 × $79 | 74% | $5,143 | $1,081 |
| Rung | Sell | Expiry | DTE | OTM | Survival | Touch odds | Per cycle | Income/mo | Δ vs pick | Cap give-up | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| ▸ | cover hedge | 18 × $83 | 17 Jul | 7d | 9.2% | 92% | 17% | $360 | $1,543 | -$3,600 | $25,670 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 18 × $83 9.2% OTM over spot $76.00 17 Jul 2026 (7d, $0.33 mid) = $360 credit for the 7d cycle → $1,543/mo projected Survival (stays ≤ $83) 92% Breach risk 8% POP (stays ≤ $83.33) 93% EV / mo +$726 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 3.0 mo [1.8-5.0] median, 0.2 mo SLOWER than no FIGHT (2.8 mo): roll costs eat the credits at this rung · 46% of paths whole by 9 mo (vs 40% without) · ~3.5 challenges expected · median CC cash $-2,556 🛡 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) 11% Flat exit net (mid-life) -$2,695 Free roll-up +$1/wk Safest escape (by 31 Jul 2026) $88 @ 76% POP 71% survival Roll menuyour doors if the call gets challenged; each row = buy back the 18 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.40/sh now → $1.70 mid-life (likely $1.45–$2.53) → ≈ $0 at expiry | you banked $0.20/sh, so a flat mid-life exit nets -$1.50/sh | roll rows are incremental, the banked premium stays yours 📊 Across 327 simulated challenges: the $83 strike is typically first touched on day 5 of 7, at $84 (overshoots $1.23). 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 +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). 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 ⚠ $83 is $14 below CC-SS $97.46: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.05/sh (~25% of the $0.20 collected) or spot ≥ $83.33 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $83)); NOT the premium you collected. Momentum override: two daily closes above $90.02 (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 $97.46, where you are whole again, by expiry) Starting unrealized P&L: $-41,360 + Fortress recovery (un-capped): +$38,630 − CC assignment net of premium (18 × $83): -$25,670 − Conservative CC assignment net of premium (2 × $92): -$1,082 Total Position P&L @ SS: $-29,482 (+$11,878 vs today) Do-nothing baseline at SS: $-13,552 (this trade vs do-nothing: $-15,930, the opportunity cost of earning $1,543/mo FIGHT income now) BB-reversion stress (→ $92.96 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$17,568, position total $-28,582 (+$12,778 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 33% normal | 16 × $80 | 17 Jul | 7d | 5.3% | 79% | 42% | $800 | $3,429 | -$1,714 | $27,138 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 16 × $80 5.3% OTM over spot $76.00 17 Jul 2026 (7d, $0.60 mid) = $800 credit for the 7d cycle → $3,429/mo projected Survival (stays ≤ $80) 79% Breach risk 21% POP (stays ≤ $80.60) 82% EV / mo +$565 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 3.3 mo [1.9-5.6] median · 45% of paths whole by 9 mo (vs 40% without) · ~9.5 challenges expected · median CC cash $1,541 🛡 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) 30% Flat exit net (mid-life) -$1,716 Free roll-up +$1/wk Safest escape (by 31 Jul 2026) $86 @ 78% POP 74% survival Roll menuyour doors if the call gets challenged; each row = buy back the 16 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.22/sh now → $1.57 mid-life (likely $1.54–$2.51) → ≈ $0 at expiry | you banked $0.50/sh, so a flat mid-life exit nets -$1.07/sh | roll rows are incremental, the banked premium stays yours 📊 Across 896 simulated challenges: the $80 strike is typically first touched on day 4 of 7, at $81 (overshoots $1.08). 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 +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). 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 ⚠ $80 is $17 below CC-SS $97.46: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.12/sh (~25% of the $0.50 collected) or spot ≥ $80.60 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $80)); NOT the premium you collected. Momentum override: two daily closes above $90.02 (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 $97.46, where you are whole again, by expiry) Starting unrealized P&L: $-41,360 + Fortress recovery (un-capped): +$38,630 − CC assignment net of premium (16 × $80): -$27,138 − Conservative CC assignment net of premium (4 × $92): -$2,165 Total Position P&L @ SS: $-32,032 (+$9,328 vs today) Do-nothing baseline at SS: $-13,552 (this trade vs do-nothing: $-18,480, the opportunity cost of earning $3,429/mo FIGHT income now) BB-reversion stress (→ $92.96 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$19,936, position total $-31,132 (+$10,228 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🎯 50% normal | 15 × $79 | 17 Jul | 7d | 3.9% | 74% | 41% | $1,200 | $5,143 | — | $26,492 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 15 × $79 3.9% OTM over spot $76.00 17 Jul 2026 (7d, $0.88 mid) = $1,200 credit for the 7d cycle → $5,143/mo projected Survival (stays ≤ $79) 74% Breach risk 26% POP (stays ≤ $79.88) 79% EV / mo +$1,241 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 3.1 mo [1.9-5.5] median, 0.3 mo SLOWER than no FIGHT (2.9 mo): roll costs eat the credits at this rung · 47% of paths whole by 9 mo (vs 36% without) · ~13.1 challenges expected · median CC cash $4,923 🛡 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) 41% Flat exit net (mid-life) -$1,099 Free roll-up +$1/wk Safest escape (by 31 Jul 2026) $86 @ 83% POP 80% survival Roll menuyour doors if the call gets challenged; each row = buy back the 15 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.17/sh now → $1.53 mid-life (likely $1.73–$2.57) → ≈ $0 at expiry | you banked $0.80/sh, so a flat mid-life exit nets -$0.73/sh | roll rows are incremental, the banked premium stays yours 📊 Across 1,237 simulated challenges: the $79 strike is typically first touched on day 3 of 7, at $80 (overshoots $1.10). 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 +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). 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 ⚠ $79 is $18 below CC-SS $97.46: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.20/sh (~25% of the $0.80 collected) or spot ≥ $79.88 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $79)); NOT the premium you collected. Momentum override: two daily closes above $90.02 (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 $97.46, where you are whole again, by expiry) Starting unrealized P&L: $-41,360 + Fortress recovery (un-capped): +$38,630 − CC assignment net of premium (15 × $79): -$26,492 − Conservative CC assignment net of premium (5 × $92): -$2,706 Total Position P&L @ SS: $-31,927 (+$9,433 vs today) Do-nothing baseline at SS: $-13,552 (this trade vs do-nothing: $-18,375, the opportunity cost of earning $5,143/mo FIGHT income now) BB-reversion stress (→ $92.96 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$19,740, position total $-31,027 (+$10,333 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 100% normal | 18 × $77 | 17 Jul | 7d | 1.3% | 59% | 83% | $2,430 | $10,414 | +$5,271 | $34,400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 18 × $77 1.3% OTM over spot $76.00 17 Jul 2026 (7d, $1.45 mid) = $2,430 credit for the 7d cycle → $10,414/mo projected Survival (stays ≤ $77) 59% Breach risk 41% POP (stays ≤ $78.45) 70% EV / mo +$1,013 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 3.1 mo [1.8-6.0] median, 0.3 mo faster than no FIGHT (3.4 mo) · 48% of paths whole by 9 mo (vs 34% without) · ~26.0 challenges expected · median CC cash $12,983 🛡 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) 66% Flat exit net (mid-life) -$186 Free roll-up +$1/wk Safest escape (by 24 Jul 2026) $86 @ 91% POP 91% survival Roll menuyour doors if the call gets challenged; each row = buy back the 18 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.05/sh now → $1.45 mid-life (likely $1.94–$2.77) → ≈ $0 at expiry | you banked $1.35/sh, so a flat mid-life exit nets -$0.10/sh | roll rows are incremental, the banked premium stays yours 📊 Across 1,979 simulated challenges: the $77 strike is typically first touched on day 2 of 7, at $78 (overshoots $1.19). 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 +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). 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 ⚠ $77 is $20 below CC-SS $97.46: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.34/sh (~25% of the $1.35 collected) or spot ≥ $78.45 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $77)); NOT the premium you collected. Momentum override: two daily closes above $90.02 (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 $97.46, where you are whole again, by expiry) Starting unrealized P&L: $-41,360 + Fortress recovery (un-capped): +$38,630 − CC assignment net of premium (18 × $77): -$34,400 − Conservative CC assignment net of premium (2 × $92): -$1,082 Total Position P&L @ SS: $-38,212 (+$3,148 vs today) Do-nothing baseline at SS: $-13,552 (this trade vs do-nothing: $-24,660, the opportunity cost of earning $10,414/mo FIGHT income now) BB-reversion stress (→ $92.96 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$26,298, position total $-37,312 (+$4,048 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Every eligible strike x expiry in the 4-45 DTE band (3 expiries scanned, 20 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: +$38,630 (un-capped fortress gain if stock rallies to SS) | Do-nothing @ SS: $-13,552
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $79 | 7d | 17 Jul 2026 | $0.80 | 15/20 | $5,143 | $3,679 | 74% | 79% | +$1,241 | -$26,492 | 46.6% | $-31,927 (vs do-nothing $-18,375) |
| $79 | 14d | 24 Jul 2026 | $1.30 | 19/20 | $5,293 | $3,800 | 68% | 75% | +$339 | -$32,607 | 57.4% | $-35,877 (vs do-nothing $-22,325) |
| $78 | 7d | 17 Jul 2026 | $0.90 | 14/20 | $5,400 | $3,943 | 67% | 74% | +$184 | -$25,986 | 45.7% | $-31,962 (vs do-nothing $-18,410) |
| $78.50 | 21d | 31 Jul 2026 | $1.95 | 19/20 | $5,293 | $3,800 | 63% | 72% | +$135 | -$32,322 | 56.9% | $-35,592 (vs do-nothing $-22,040) |
| $78 | 14d | 24 Jul 2026 | $1.60 | 15/20 | $5,143 | $3,679 | 63% | 72% | +$183 | -$26,792 | 47.2% | $-32,227 (vs do-nothing $-18,675) |
| $78 | 21d | 31 Jul 2026 | $2.10 | 17/20 | $5,100 | $3,621 | 61% | 71% | +$58 | -$29,514 | 52.0% | $-33,867 (vs do-nothing $-20,315) |
| $77 | 7d | 17 Jul 2026 | $1.35 | 9/20 | $5,207 | $3,786 | 59% | 70% | +$506 | -$17,200 | 30.3% | $-25,882 (vs do-nothing $-12,330) |
| $77.50 | 21d | 31 Jul 2026 | $2.40 | 15/20 | $5,143 | $3,679 | 59% | 70% | +$289 | -$26,342 | 46.4% | $-31,777 (vs do-nothing $-18,225) |
| $77 | 14d | 24 Jul 2026 | $1.95 | 13/20 | $5,432 | $3,982 | 57% | 69% | +$56 | -$24,065 | 42.4% | $-30,582 (vs do-nothing $-17,030) |
| $77 | 21d | 31 Jul 2026 | $2.55 | 14/20 | $5,100 | $3,643 | 57% | 68% | +$164 | -$25,076 | 44.1% | $-31,052 (vs do-nothing $-17,500) |
| $76.50 | 14d | 24 Jul 2026 | $2.15 | 11/20 | $5,068 | $3,632 | 55% | 67% | +$7 | -$20,693 | 36.4% | $-28,292 (vs do-nothing $-14,740) |
| $76.50 | 21d | 31 Jul 2026 | $2.80 | 13/20 | $5,200 | $3,750 | 55% | 67% | +$214 | -$23,610 | 41.6% | $-30,127 (vs do-nothing $-16,575) |
| $76 | 21d | 31 Jul 2026 | $2.90 | 13/20 | $5,386 | $3,936 | 52% | 67% | $-30 | -$24,130 | 42.5% | $-30,647 (vs do-nothing $-17,095) |
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $76 | 14d | 24 Jul 2026 | $2.35 | 10/20 | $5,036 | $3,607 | 52% | 66% | $-66 | -$19,111 | 33.6% | $-27,252 (vs do-nothing $-13,700) |
| $76 | 7d | 17 Jul 2026 | $1.65 | 8/20 | $5,657 | $4,243 | 51% | 66% | $-50 | -$15,849 | 27.9% | $-25,072 (vs do-nothing $-11,520) |
| $75.50 | 21d | 31 Jul 2026 | $3.20 | 12/20 | $5,486 | $4,043 | 50% | 66% | +$65 | -$22,514 | 39.6% | $-29,572 (vs do-nothing $-16,020) |
| $75 | 21d | 31 Jul 2026 | $3.50 | 11/20 | $5,500 | $4,064 | 48% | 65% | +$121 | -$20,858 | 36.7% | $-28,457 (vs do-nothing $-14,905) |
| $75 | 14d | 24 Jul 2026 | $2.90 | 9/20 | $5,593 | $4,171 | 46% | 64% | +$2 | -$17,605 | 31.0% | $-26,287 (vs do-nothing $-12,735) |
| $74.50 | 21d | 31 Jul 2026 | $3.60 | 10/20 | $5,143 | $3,714 | 45% | 63% | $-140 | -$19,361 | 34.1% | $-27,502 (vs do-nothing $-13,950) |
| $75 | 7d | 17 Jul 2026 | $2.15 | 6/20 | $5,529 | $4,129 | 43% | 62% | $-155 | -$12,187 | 21.5% | $-22,492 (vs do-nothing $-8,940) |
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 20 contracts at the conservative CC.