| FORTRESS | STOCK | LC | SP | HP | SC | BE‑SS | CC‑SS | GAP | RM | HP OTM% | STATUS | CTRS | IC | NOTIONAL | URGENCY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Main (...1299) | |||||||||||||||
| GLD → +320C −450P +330P −409C |
$384.09 | 320 | 450 | 330 | 409 | $456.00 | $469.84 | 120 | 1.88x | 14.1% | SAFE | 10 | $136,000 | $384,090 | ROLL NOW (42d) |
| MU (Main) → +880C −1010P +340P −1150C |
$1039.82 | 880 | 1010 | 340 | 1150 | $1028.60 | $1041.16 | 670 | 5.51x | 67.3% | SAFE | 5 | $74,300 | $519,908 | ROLL NOW (42d) |
| BMNR (Main) → +25C −18P +45P |
$24.00 | 25 | 18 | 45 | 0 | $65.83 | $60.41 | 0 | 1.00x | -87.5% | ITM | 50 | $204,150 | $119,975 | REPAIR PLAN (98d) |
| IREN (Main) → +25C −47P +35P −49C |
$35.18 | 25 | 47 | 35 | 49 | $44.00 | $48.10 | 12 | 1.75x | 0.5% | TIGHT | 20 | $32,000 | $70,360 | REPAIR PLAN (98d) |
| IGV +70C −115C |
$110.82 | 70 | 0 | 0 | 115 | $96.50 | $87.69 | 0 | 1.00x | 0.0% | N/A | 12 | $31,800 | $132,984 | LEAPS-ONLY |
| MARA (Main) +13C |
$9.64 | 13 | 0 | 0 | 0 | $16.75 | $11.47 | 0 | 1.00x | 0.0% | N/A | 400 | $150,000 | $385,600 | LEAPS-ONLY |
| AMD +410C −550P +470P |
$613.88 | 410 | 550 | 470 | 0 | $649.20 | $660.03 | 80 | 1.33x | 23.4% | SAFE | 2 | $47,840 | $122,776 | OK |
| BMNR (Main) +23C −18P +25P |
$24.00 | 23 | 18 | 25 | 0 | $53.26 | $47.48 | 0 | 1.00x | -4.2% | ITM | 75 | $226,950 | $179,962 | OK |
| COIN (Main) +165C −240P +90P −200C |
$173.59 | 165 | 240 | 90 | 200 | $210.90 | $216.01 | 150 | 9.93x | 48.2% | SAFE | 8 | $13,440 | $138,869 | OK |
| COIN (Main) +500C −330P +300P −200C |
$173.59 | 500 | 330 | 300 | 200 | $563.00 | $382.02 | 30 | 1.48x | -72.8% | ITM | 25 | $157,500 | $433,965 | OK |
| DELL +310C −400P +320P −650C |
$576.71 | 310 | 400 | 320 | 650 | $562.50 | $571.43 | 80 | 1.32x | 44.5% | SAFE | 3 | $75,750 | $173,013 | OK |
| GLXY +38C −38P +18P |
$20.06 | 38 | 38 | 18 | 0 | $39.71 | $35.16 | 20 | 10.05x | 12.8% | SAFE | 125 | $27,625 | $250,750 | OK |
| HIMS +10C −20P +5P −32C |
$29.10 | 10 | 20 | 5 | 32 | $17.47 | $19.03 | 15 | 4.04x | 82.8% | SAFE | 15 | $7,395 | $43,650 | OK |
| NVDA +215C −225P +200P −250C |
$231.69 | 215 | 225 | 200 | 250 | $264.80 | $230.63 | 25 | 1.50x | 13.7% | SAFE | 10 | $49,800 | $231,685 | OK |
| Neville (...0865) | |||||||||||||||
| CRWV → +105C −120P +40P −100C |
$82.15 | 105 | 120 | 40 | 100 | $125.45 | $127.84 | 80 | 4.91x | 51.3% | SAFE | 5 | $10,225 | $41,075 | ROLL NOW (42d) |
| IREN (Neville) → +45C −65P +21P −49C |
$35.18 | 45 | 65 | 21 | 49 | $56.50 | $57.65 | 44 | 15.67x | 40.3% | SAFE | 20 | $6,000 | $70,360 | ROLL NOW (42d) |
| MU (Neville) → +970C −1110P +390P −1150C |
$1039.82 | 970 | 1110 | 390 | 1150 | $1220.00 | $1229.96 | 720 | 3.88x | 62.5% | SAFE | 2 | $50,000 | $207,963 | ROLL NOW (42d) |
| SNDK → +1200C −1380P +810P |
$1620.32 | 1200 | 1380 | 810 | 0 | $1620.00 | $1626.08 | 570 | 2.36x | 50.0% | SAFE | 1 | $42,000 | $162,032 | ROLL NOW (42d) |
| SPY +640C −785C |
$775.74 | 640 | 0 | 0 | 785 | $764.00 | $703.58 | 0 | 1.00x | 0.0% | N/A | 12 | $148,800 | $930,882 | LEAPS-ONLY |
| CRCL +45C −65P +40P |
$81.79 | 45 | 65 | 40 | 0 | $87.00 | $92.23 | 25 | 1.60x | 51.1% | SAFE | 5 | $21,000 | $40,895 | OK |
| GOOG (Neville) +300C −345P +310P −360C |
$349.03 | 300 | 345 | 310 | 360 | $373.00 | $347.16 | 35 | 1.48x | 11.2% | SAFE | 15 | $109,500 | $523,545 | OK |
| GOOG (Neville) +340C −405P +360P −360C |
$349.03 | 340 | 405 | 360 | 360 | $398.00 | $386.93 | 45 | 1.88x | -3.1% | ITM | 5 | $25,500 | $174,515 | OK |
| INTC +85C −100P +35P −114C |
$105.74 | 85 | 100 | 35 | 114 | $114.00 | $114.76 | 65 | 3.24x | 66.9% | SAFE | 5 | $14,500 | $52,870 | OK |
| SPCX +150C −195P +135P −195C |
$163.63 | 150 | 195 | 135 | 195 | $186.00 | $189.78 | 60 | 3.22x | 17.5% | SAFE | 5 | $13,500 | $81,815 | OK |
| Joint (...1782) | |||||||||||||||
| AMZN → +200C −250P +215P −262C |
$257.81 | 200 | 250 | 215 | 262 | $267.92 | $270.89 | 35 | 1.52x | 16.6% | SAFE | 5 | $33,960 | $128,905 | ROLL NOW (42d) |
| HOOD → +65C −95P +80P −120C |
$107.50 | 65 | 95 | 80 | 120 | $114.95 | $119.47 | 15 | 1.30x | 25.6% | SAFE | 10 | $49,950 | $107,495 | REPAIR PLAN (98d) |
| IREN (Joint) → +25C −47P +35P −49C |
$35.18 | 25 | 47 | 35 | 49 | $44.00 | $48.10 | 12 | 1.75x | 0.5% | TIGHT | 20 | $32,000 | $70,360 | REPAIR PLAN (98d) |
| GOOG (Joint) +310C −355C |
$349.03 | 310 | 0 | 0 | 355 | $392.50 | $350.69 | 0 | 1.00x | 0.0% | N/A | 5 | $41,250 | $174,515 | LEAPS-ONLY |
| IBIT +75C |
$46.76 | 75 | 0 | 0 | 0 | $70.58 | $52.70 | 0 | 1.00x | 0.0% | N/A | 50 | $22,328 | $233,800 | LEAPS-ONLY |
| MSTR (Joint) +180C −200C |
$151.75 | 180 | 0 | 0 | 200 | $233.00 | $175.52 | 0 | 1.00x | 0.0% | N/A | 10 | $53,000 | $151,750 | LEAPS-ONLY |
| BMNR (Joint) +23C −18P +25P |
$24.00 | 23 | 18 | 25 | 0 | $36.42 | $25.07 | 0 | 1.00x | -4.2% | ITM | 150 | $201,300 | $359,925 | OK |
| COPX +65C −90P +68P |
$85.34 | 65 | 90 | 68 | 0 | $93.40 | $96.10 | 22 | 1.77x | 20.3% | SAFE | 20 | $56,800 | $170,680 | OK |
| RetireInc (...7291) | |||||||||||||||
| APP → +460C −540P +185P |
$280.95 | 460 | 540 | 185 | 0 | $588.00 | $613.43 | 355 | 3.77x | 34.2% | SAFE | 1 | $12,800 | $28,096 | ROLL NOW (42d) |
| IREN (RetireInc) → +50C −70P +23P −49C |
$35.18 | 50 | 70 | 23 | 49 | $63.43 | $66.35 | 47 | 7.86x | 34.6% | SAFE | 20 | $13,700 | $70,360 | ROLL NOW (42d) |
| AAPL → +240C −330P +285P −350C |
$332.17 | 240 | 330 | 285 | 350 | $334.64 | $337.95 | 45 | 1.48x | 14.2% | SAFE | 5 | $47,320 | $166,085 | REPAIR PLAN (42d) |
| MARA (RetireInc) +40C |
$9.64 | 40 | 0 | 0 | 0 | $41.04 | $11.70 | 0 | 1.00x | 0.0% | N/A | 500 | $52,000 | $482,000 | LEAPS-ONLY |
| CLSK +17C −17P +10P |
$10.41 | 17 | 17 | 10 | 0 | $20.74 | $18.51 | 7 | 2.87x | 3.9% | TIGHT | 25 | $9,350 | $26,025 | OK |
| ENPH +45C −60P +20P |
$32.45 | 45 | 60 | 20 | 0 | $56.15 | $58.54 | 40 | 6.48x | 38.4% | SAFE | 10 | $7,300 | $32,450 | OK |
| MSTR (RetireInc) +125C −185P +55P −170C |
$151.75 | 125 | 185 | 55 | 170 | $161.00 | $162.55 | 130 | 11.83x | 63.8% | SAFE | 4 | $4,800 | $60,700 | OK |
| QCOM +190C −210P +100P −220C |
$172.13 | 190 | 210 | 100 | 220 | $224.00 | $225.94 | 110 | 4.24x | 41.9% | SAFE | 5 | $17,000 | $86,068 | OK |
| RKLB +115C −135P +45P −90C |
$67.41 | 115 | 135 | 45 | 90 | $141.55 | $148.22 | 90 | 4.39x | 33.2% | SAFE | 6 | $15,930 | $40,446 | OK |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 330 CHEAP | Dec 18 | 70d | 14.1% | $1.10 | $1.19 | $6,205 | 25% | $256,000 | = | D $700 |
| 2 | 330 | Jan 15 | 98d | 14.1% | $1.76 | $1.84 | $6,853 | 28% | $256,000 | = | D $1,350 |
| 3 | 330 | Dec 31 | 83d | 14.1% | $1.39 | $1.56 | $6,860 | 28% | $256,000 | = | D $1,070 |
| 4 | 331 | Jan 15 | 98d | 13.8% | $1.83 | $1.91 | $7,114 | 29% | $255,000 | -$1,000 | D $1,420 |
| 5 | 332 | Jan 15 | 98d | 13.6% | $1.90 | $1.98 | $7,374 | 30% | $254,000 | -$2,000 | D $1,490 |
| 6 | 335 | Dec 18 | 70d | 12.8% | $1.37 | $1.43 | $7,456 | 30% | $251,000 | -$5,000 | D $940 |
| 7 | 333 | Jan 15 | 98d | 13.3% | $1.97 | $2.06 | $7,672 | 31% | $253,000 | -$3,000 | D $1,570 |
| 8 | 334 | Jan 15 | 98d | 13.0% | $2.05 | $2.14 | $7,970 | 32% | $252,000 | -$4,000 | D $1,650 |
| 9 | 335 | Dec 31 | 83d | 12.8% | $1.68 | $1.83 | $8,048 | 33% | $251,000 | -$5,000 | D $1,340 |
| 10 | 335 | Jan 15 | 98d | 12.8% | $2.13 | $2.22 | $8,268 | 34% | $251,000 | -$5,000 | D $1,730 |
| 11 | 336 | Jan 15 | 98d | 12.5% | $2.14 | $2.31 | $8,604 | 35% | $250,000 | -$6,000 | D $1,820 |
| 12 | 337 | Jan 15 | 98d | 12.3% | $2.24 | $2.40 | $8,939 | 36% | $249,000 | -$7,000 | D $1,910 |
| ▶ 13 | 345 PROT | Dec 18 | 70d | 10.2% | $2.13 | $2.22 | $11,576 | 47% | $241,000 | -$15,000 | D $1,730 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $470 — assignment locks a loss · $396, B $5.60 | $57,600/yr | $6,205/yr | SELF-FUNDING |
| CC at MID $396 0.5σ, B $5.60 | $57,600/yr | $6,205/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 400 CHEAP | Dec 18 | 70d | 61.5% | $0.34 | $0.55 | $1,434 | 0% | $379,300 | -$30,000 | D $265 |
| 2 | 370 | Jan 15 | 98d | 64.4% | $0.01 | $0.80 | $1,490 | 0% | $394,300 | -$15,000 | D $390 |
| 3 | 410 | Dec 18 | 70d | 60.6% | $0.13 | $0.59 | $1,538 | 0% | $374,300 | -$35,000 | D $285 |
| 4 | 360 | Dec 18 | 70d | 65.4% | $0.24 | $0.60 | $1,564 | 0% | $399,300 | -$10,000 | D $290 |
| 5 | 380 | Dec 18 | 70d | 63.5% | $0.18 | $0.60 | $1,564 | 0% | $389,300 | -$20,000 | D $290 |
| 6 | 420 | Dec 18 | 70d | 59.6% | $0.16 | $0.65 | $1,695 | 0% | $369,300 | -$40,000 | D $315 |
| 7 | 350 | Jan 15 | 98d | 66.3% | $0.30 | $0.99 | $1,844 | 0% | $404,300 | -$5,000 | D $485 |
| 8 | 340 | Jan 15 | 98d | 67.3% | $0.07 | $1.00 | $1,862 | 0% | $409,300 | = | D $490 |
| 9 | 430 | Dec 18 | 70d | 58.6% | $0.05 | $0.80 | $2,086 | 1% | $364,300 | -$45,000 | D $390 |
| 10 | 440 | Dec 18 | 70d | 57.7% | $0.01 | $0.84 | $2,190 | 1% | $359,300 | -$50,000 | D $410 |
| 11 | 360 | Jan 15 | 98d | 65.4% | $0.07 | $1.20 | $2,235 | 1% | $399,300 | -$10,000 | D $590 |
| 12 | 350 | Dec 18 | 70d | 66.3% | $0.26 | $0.90 | $2,346 | 1% | $404,300 | -$5,000 | D $440 |
| ▶ 13 | 940 PROT | Jan 15 | 98d | 9.6% | $50.60 | $53.20 | $99,071 | 25% | $109,300 | -$300,000 | D $26,590 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS $1045, B $56.95 | $292,886/yr | $1,434/yr | SELF-FUNDING |
| CC at MID $1115 0.5σ, B $31.20 | $160,457/yr | $1,434/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | ASK | ROLL CR/SH | ROLL TOTAL | HEDGE/YR | STRESS/YR | SAVED/YR | GAP | ML+ | PAYBACK | PB+INC | NEW RM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 21 | Jan 15 | 98d | 12.5% | $1.88 | $18.87 | $94,350 | $35,010 | $43,670 | $365,372 | -3 | $-15,000 | N/A | N/A | 0.93x | PASS |
| 2 | 20 | Jan 15 | 98d | 16.6% | $1.68 | $19.07 | $95,350 | $31,286 | $49,256 | $369,097 | -2 | $-10,000 | N/A | N/A | 0.95x | PASS |
| 3 | 19 | Jan 15 | 98d | 20.8% | $1.30 | $19.45 | $97,250 | $24,209 | $55,774 | $376,173 | -1 | $-5,000 | N/A | N/A | 0.98x | PASS |
| 4 | 18 | Jan 15 | 98d | 25.0% | $0.99 | $19.76 | $98,800 | $18,436 | $63,223 | $381,946 | 0 | $0 | N/A | N/A | 1.00x | PASS |
| 5 | 17 | Jan 15 | 98d | 29.2% | $0.73 | $20.02 | $100,100 | $13,594 | $49,536 | $386,788 | 1 | $5,000 | 0mo | 0mo | 1.02x | PASS |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $60 — assignment locks a loss · $35, B $0.06 | $3,086/yr | $35,010/yr | DEFICIT $2,660/mo |
| CC at MID $28 0.7σ, B $0.71 | $36,514/yr | $35,010/yr | SELF-FUNDING |
| AT 23% DRAWDOWN (stock $24.00 → $18.37, hedge $43,670/yr) | |||
| CC at SS income stress-adjusted | $3,086/yr | $43,670/yr | DEFICIT $3,382/mo |
| CC at MID income stress-adjusted | $3,086/yr | $43,670/yr | DEFICIT $3,382/mo |
| # | NEW HP | EXPIRY | DTE | OTM% | ASK | ROLL CR/SH | ROLL TOTAL | HEDGE/YR | STRESS/YR | SAVED/YR | GAP | ML+ | PAYBACK | PB+INC | NEW RM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 32 | Jan 15 | 98d | 9.0% | $3.90 | $1.30 | $2,600 | $29,051 | $20,336 | $11,173 | 15 | $6,000 | 6mo | 1mo | 1.94x | PASS |
| 2 | 30 | Jan 15 | 98d | 14.7% | $3.00 | $2.20 | $4,400 | $22,347 | $24,433 | $17,878 | 17 | $10,000 | 7mo | 2mo | 2.06x | PASS |
| 3 | 27 | Jan 15 | 98d | 23.3% | $1.90 | $3.30 | $6,600 | $14,153 | $34,638 | $26,071 | 20 | $16,000 | 7mo | 2mo | 2.25x | PASS |
| 4 | 25 | Jan 15 | 98d | 28.9% | $1.50 | $3.70 | $7,400 | $11,173 | $23,464 | $29,051 | 22 | $20,000 | 8mo | 3mo | 2.38x | PASS |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS $49, B $0.54 | $11,109/yr | $29,051/yr | DEFICIT $1,495/mo |
| CC at MID $41 0.7σ, B $1.49 | $30,651/yr | $29,051/yr | SELF-FUNDING |
| AT 22% DRAWDOWN (stock $35.18 → $27.33, hedge $20,336/yr) | |||
| CC at SS income stress-adjusted | $4,731/yr | $20,336/yr | DEFICIT $1,300/mo |
| CC at MID income stress-adjusted | $7,200/yr | $20,336/yr | DEFICIT $1,095/mo |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 40 CHEAP | Dec 18 | 70d | 51.3% | $0.10 | $0.20 | $521 | 2% | $50,225 | = | D $70 |
| 2 | 42 | Dec 18 | 70d | 48.3% | $0.17 | $0.30 | $782 | 3% | $48,975 | -$1,250 | D $120 |
| 3 | 40 | Jan 15 | 98d | 51.3% | $0.22 | $0.45 | $838 | 3% | $50,225 | = | D $195 |
| 4 | 45 | Dec 18 | 70d | 45.2% | $0.27 | $0.40 | $1,043 | 4% | $47,725 | -$2,500 | D $170 |
| 5 | 42 | Jan 15 | 98d | 48.3% | $0.33 | $0.64 | $1,192 | 4% | $48,975 | -$1,250 | D $290 |
| 6 | 48 | Dec 18 | 70d | 42.2% | $0.40 | $0.54 | $1,408 | 5% | $46,475 | -$3,750 | D $240 |
| 7 | 45 | Jan 15 | 98d | 45.2% | $0.47 | $0.80 | $1,490 | 5% | $47,725 | -$2,500 | D $370 |
| 8 | 50 | Dec 18 | 70d | 39.1% | $0.57 | $0.71 | $1,851 | 7% | $45,225 | -$5,000 | D $325 |
| 9 | 48 | Jan 15 | 98d | 42.2% | $0.65 | $1.03 | $1,918 | 7% | $46,475 | -$3,750 | D $485 |
| 10 | 50 | Jan 15 | 98d | 39.1% | $0.88 | $1.30 | $2,421 | 9% | $45,225 | -$5,000 | D $620 |
| 11 | 52 | Jan 15 | 98d | 36.1% | $1.17 | $1.62 | $3,017 | 11% | $43,975 | -$6,250 | D $780 |
| 12 | 55 | Dec 18 | 70d | 33.0% | $1.09 | $1.21 | $3,155 | 11% | $42,725 | -$7,500 | D $575 |
| ▶ 13 | 62 PROT | Jan 15 | 98d | 23.9% | $3.10 | $3.45 | $6,425 | 23% | $38,975 | -$11,250 | D $1,695 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $128 — assignment locks a loss · $100, B $2.52 | $12,960/yr | $521/yr | SELF-FUNDING |
| CC at MID $95 0.7σ, B $3.50 | $18,000/yr | $521/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 22 CHEAP | Dec 18 | 70d | 37.5% | $0.41 | $0.50 | $5,214 | 9% | $92,000 | -$2,000 | D $780 |
| 2 | 22 | Jan 15 | 98d | 37.5% | $0.53 | $0.81 | $6,034 | 10% | $92,000 | -$2,000 | D $1,400 |
| 3 | 25 | Dec 18 | 70d | 28.9% | $0.84 | $0.92 | $9,594 | 16% | $86,000 | -$8,000 | D $1,620 |
| 4 | 25 | Jan 15 | 98d | 28.9% | $1.28 | $1.50 | $11,173 | 19% | $86,000 | -$8,000 | D $2,780 |
| ▶ 5 | 27 PROT | Jan 15 | 98d | 23.3% | $1.75 | $1.90 | $14,153 | 23% | $82,000 | -$12,000 | D $3,580 |
| 6 | 27 | Dec 18 | 70d | 23.3% | $1.31 | $1.40 | $14,600 | 24% | $82,000 | -$12,000 | D $2,580 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $58 — assignment locks a loss · $55, B $0.23 | $4,731/yr | $5,214/yr | DEFICIT $40/mo |
| CC at MID $41 0.7σ, B $1.49 | $30,651/yr | $5,214/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 400 CHEAP | Dec 18 | 70d | 61.5% | $0.34 | $0.55 | $574 | 1% | $192,000 | -$2,000 | D $104 |
| 2 | 410 | Dec 18 | 70d | 60.6% | $0.13 | $0.59 | $615 | 1% | $190,000 | -$4,000 | D $112 |
| 3 | 420 | Dec 18 | 70d | 59.6% | $0.16 | $0.65 | $678 | 1% | $188,000 | -$6,000 | D $124 |
| 4 | 430 | Dec 18 | 70d | 58.6% | $0.05 | $0.80 | $834 | 1% | $186,000 | -$8,000 | D $154 |
| 5 | 440 | Dec 18 | 70d | 57.7% | $0.01 | $0.84 | $876 | 1% | $184,000 | -$10,000 | D $162 |
| 6 | 450 | Jan 15 | 98d | 56.7% | $0.93 | $1.29 | $961 | 1% | $182,000 | -$12,000 | D $252 |
| 7 | 490 | Dec 18 | 70d | 52.9% | $0.56 | $1.00 | $1,043 | 1% | $174,000 | -$20,000 | D $194 |
| 8 | 390 | Dec 18 | 70d | 62.5% | $0.13 | $1.05 | $1,095 | 1% | $194,000 | = | D $204 |
| 9 | 390 | Jan 15 | 98d | 62.5% | $0.48 | $1.50 | $1,117 | 1% | $194,000 | = | D $294 |
| 10 | 400 | Jan 15 | 98d | 61.5% | $0.50 | $1.50 | $1,117 | 1% | $192,000 | -$2,000 | D $294 |
| 11 | 410 | Jan 15 | 98d | 60.6% | $0.03 | $1.50 | $1,117 | 1% | $190,000 | -$4,000 | D $294 |
| 12 | 420 | Jan 15 | 98d | 59.6% | $0.47 | $1.50 | $1,117 | 1% | $188,000 | -$6,000 | D $294 |
| ▶ 13 | 850 PROT | Dec 18 | 70d | 18.3% | $16.35 | $17.90 | $18,667 | 23% | $102,000 | -$92,000 | D $3,574 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $1,230 — assignment locks a loss · $1115, B $31.20 | $64,183/yr | $574/yr | SELF-FUNDING |
| CC at MID $1115 0.5σ, B $31.20 | $64,183/yr | $574/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 840 CHEAP | Jan 15 | 98d | 48.2% | $2.50 | $6.00 | $2,235 | 1% | $96,000 | -$3,000 | D $600 |
| 2 | 850 | Jan 15 | 98d | 47.5% | $3.60 | $6.00 | $2,235 | 1% | $95,000 | -$4,000 | D $600 |
| 3 | 820 | Jan 15 | 98d | 49.4% | $1.00 | $6.50 | $2,421 | 1% | $98,000 | -$1,000 | D $650 |
| 4 | 820 | Dec 18 | 70d | 49.4% | $0.05 | $4.90 | $2,555 | 2% | $98,000 | -$1,000 | D $490 |
| 5 | 890 | Jan 15 | 98d | 45.1% | $4.90 | $6.90 | $2,570 | 2% | $91,000 | -$8,000 | D $690 |
| 6 | 810 | Jan 15 | 98d | 50.0% | $0.30 | $7.10 | $2,644 | 2% | $99,000 | = | D $710 |
| 7 | 860 | Dec 18 | 70d | 46.9% | $0.20 | $5.10 | $2,659 | 2% | $94,000 | -$5,000 | D $510 |
| 8 | 830 | Jan 15 | 98d | 48.8% | $1.60 | $7.20 | $2,682 | 2% | $97,000 | -$2,000 | D $720 |
| 9 | 900 | Jan 15 | 98d | 44.5% | $5.30 | $7.20 | $2,682 | 2% | $90,000 | -$9,000 | D $720 |
| 10 | 910 | Dec 18 | 70d | 43.8% | $2.35 | $5.20 | $2,711 | 2% | $89,000 | -$10,000 | D $520 |
| 11 | 810 | Dec 18 | 70d | 50.0% | $0.05 | $5.30 | $2,764 | 2% | $99,000 | = | D $530 |
| 12 | 850 | Dec 18 | 70d | 47.5% | $1.60 | $5.30 | $2,764 | 2% | $95,000 | -$4,000 | D $530 |
| ▶ 13 | 1380 PROT | Jan 15 | 98d | 14.8% | $81.60 | $86.20 | $32,105 | 19% | $42,000 | -$57,000 | D $8,620 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS $1630, B $121.60 | $125,074/yr | $2,235/yr | SELF-FUNDING |
| CC at MID $1685 0.2σ, B $98.60 | $101,417/yr | $2,235/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 215 CHEAP | Jan 15 | 98d | 16.6% | $3.20 | $3.40 | $6,332 | 31% | $51,460 | = | D $1,020 |
| 2 | 215 | Dec 18 | 70d | 16.6% | $2.21 | $2.47 | $6,440 | 32% | $51,460 | = | D $555 |
| 3 | 220 | Jan 15 | 98d | 14.7% | $3.95 | $4.25 | $7,915 | 39% | $48,960 | -$2,500 | D $1,445 |
| 4 | 220 | Dec 18 | 70d | 14.7% | $2.90 | $3.15 | $8,212 | 40% | $48,960 | -$2,500 | D $895 |
| ▶ 5 | 225 PROT | Jan 15 | 98d | 12.7% | $4.90 | $5.25 | $9,777 | 48% | $46,460 | -$5,000 | D $1,945 |
| 6 | 225 | Dec 18 | 70d | 12.7% | $3.70 | $3.90 | $10,168 | 50% | $46,460 | -$5,000 | D $1,270 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS $275, B $6.05 | $31,114/yr | $6,332/yr | SELF-FUNDING |
| CC at MID $280 0.7σ, B $4.60 | $23,657/yr | $6,332/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | ASK | ROLL CR/SH | ROLL TOTAL | HEDGE/YR | STRESS/YR | SAVED/YR | GAP | ML+ | PAYBACK | PB+INC | NEW RM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 32 | Jan 15 | 98d | 9.0% | $3.90 | $1.30 | $2,600 | $29,051 | $20,336 | $11,173 | 15 | $6,000 | 6mo | 1mo | 1.94x | PASS |
| 2 | 30 | Jan 15 | 98d | 14.7% | $3.00 | $2.20 | $4,400 | $22,347 | $24,433 | $17,878 | 17 | $10,000 | 7mo | 2mo | 2.06x | PASS |
| 3 | 27 | Jan 15 | 98d | 23.3% | $1.90 | $3.30 | $6,600 | $14,153 | $34,638 | $26,071 | 20 | $16,000 | 7mo | 2mo | 2.25x | PASS |
| 4 | 25 | Jan 15 | 98d | 28.9% | $1.50 | $3.70 | $7,400 | $11,173 | $23,464 | $29,051 | 22 | $20,000 | 8mo | 3mo | 2.38x | PASS |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS $49, B $0.54 | $11,109/yr | $29,051/yr | DEFICIT $1,495/mo |
| CC at MID $41 0.7σ, B $1.49 | $30,651/yr | $29,051/yr | SELF-FUNDING |
| AT 22% DRAWDOWN (stock $35.18 → $27.33, hedge $20,336/yr) | |||
| CC at SS income stress-adjusted | $4,731/yr | $20,336/yr | DEFICIT $1,300/mo |
| CC at MID income stress-adjusted | $7,200/yr | $20,336/yr | DEFICIT $1,095/mo |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 185 CHEAP | Dec 18 | 70d | 34.2% | $1.80 | $2.75 | $1,434 | 10% | $48,300 | = | D $205 |
| 2 | 190 | Dec 18 | 70d | 32.4% | $2.10 | $3.30 | $1,721 | 12% | $47,800 | -$500 | D $260 |
| 3 | 185 | Jan 15 | 98d | 34.2% | $3.50 | $4.80 | $1,788 | 13% | $48,300 | = | D $410 |
| 4 | 190 | Jan 15 | 98d | 32.4% | $4.20 | $5.00 | $1,862 | 13% | $47,800 | -$500 | D $430 |
| 5 | 195 | Jan 15 | 98d | 30.6% | $4.50 | $5.80 | $2,160 | 15% | $47,300 | -$1,000 | D $510 |
| 6 | 195 | Dec 18 | 70d | 30.6% | $2.60 | $4.60 | $2,399 | 17% | $47,300 | -$1,000 | D $390 |
| 7 | 200 | Jan 15 | 98d | 28.8% | $5.70 | $7.30 | $2,719 | 19% | $46,800 | -$1,500 | D $660 |
| 8 | 200 | Dec 18 | 70d | 28.8% | $3.90 | $5.30 | $2,764 | 20% | $46,800 | -$1,500 | D $460 |
| ▶ 9 | 210 PROT | Dec 18 | 70d | 25.3% | $5.30 | $6.30 | $3,285 | 23% | $45,800 | -$2,500 | D $560 |
| 10 | 210 | Jan 15 | 98d | 25.3% | $7.20 | $9.20 | $3,427 | 24% | $45,800 | -$2,500 | D $850 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $613 — assignment locks a loss · $375, B $2.15 | $2,211/yr | $1,434/yr | SELF-FUNDING |
| CC at MID $320 0.6σ, B $10.60 | $10,903/yr | $1,434/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | BID | ASK | HEDGE/YR | %CC | NEW ML | ΔML | ROLL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▶ 1 | 25 CHEAP | Dec 18 | 70d | 28.9% | $0.84 | $0.92 | $9,594 | 16% | $103,700 | -$4,000 | D $1,420 |
| 2 | 25 | Jan 15 | 98d | 28.9% | $1.28 | $1.50 | $11,173 | 19% | $103,700 | -$4,000 | D $2,580 |
| ▶ 3 | 27 PROT | Jan 15 | 98d | 23.3% | $1.75 | $1.90 | $14,153 | 23% | $99,700 | -$8,000 | D $3,380 |
| 4 | 27 | Dec 18 | 70d | 23.3% | $1.31 | $1.40 | $14,600 | 24% | $99,700 | -$8,000 | D $2,380 |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS BELOW SS $66 — assignment locks a loss · $55, B $0.23 | $4,731/yr | $9,594/yr | DEFICIT $405/mo |
| CC at MID $41 0.7σ, B $1.49 | $30,651/yr | $9,594/yr | SELF-FUNDING |
| # | NEW HP | EXPIRY | DTE | OTM% | ASK | ROLL CR/SH | ROLL TOTAL | HEDGE/YR | STRESS/YR | SAVED/YR | GAP | ML+ | PAYBACK | PB+INC | NEW RM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 270 | Jan 15 | 98d | 18.7% | $1.76 | $-0.75 | $-375 | $3,278 | $7,635 | $2,302 | 60 | $7,500 | 39mo | 2mo | 1.63x | PASS |
| 2 | 280 | Jan 15 | 98d | 15.7% | $2.59 | $-1.58 | $-790 | $4,823 | $11,453 | $756 | 50 | $2,500 | 40mo | 1mo | 1.53x | PASS |
| 3 | 275 | Jan 15 | 98d | 17.2% | $2.20 | $-1.19 | $-595 | $4,097 | $9,497 | $1,482 | 55 | $5,000 | 40mo | 1mo | 1.58x | PASS |
| 4 | 265 | Jan 15 | 98d | 20.2% | $1.54 | $-0.53 | $-265 | $2,868 | $6,145 | $2,711 | 65 | $10,000 | 44mo | 3mo | 1.69x | PASS |
| 5 | 260 | Jan 15 | 98d | 21.7% | $1.25 | $-0.24 | $-120 | $2,328 | $5,140 | $3,251 | 70 | $12,500 | 46mo | 4mo | 1.74x | PASS |
| 6 | 255 | Jan 15 | 98d | 23.2% | $1.05 | $-0.04 | $-20 | $1,955 | $3,985 | $3,624 | 75 | $15,000 | 50mo | 4mo | 1.79x | PASS |
| 7 | 250 | Jan 15 | 98d | 24.7% | $0.81 | $0.20 | $100 | $1,508 | $3,184 | $4,071 | 80 | $17,500 | 52mo | 5mo | 1.85x | PASS |
| 8 | 245 | Jan 15 | 98d | 26.2% | $0.74 | $0.27 | $135 | $1,378 | $2,048 | $4,201 | 85 | $20,000 | 57mo | 6mo | 1.90x | PASS |
| 9 | 235 | Jan 15 | 98d | 29.3% | $0.59 | $0.42 | $210 | $1,099 | $1,378 | $4,481 | 95 | $25,000 | 67mo | 7mo | 2.00x | FAIL |
| 10 | 240 | Jan 15 | 98d | 27.7% | $0.64 | $0.37 | $185 | $1,192 | $1,844 | $4,387 | 90 | $22,500 | 62mo | 6mo | 1.95x | FAIL |
| SCENARIO | CC INCOME | HEDGE COST | VERDICT |
|---|---|---|---|
| CC at SS $340, B $7.35 | $37,800/yr | $3,278/yr | SELF-FUNDING |
| CC at MID $350 0.7σ, B $4.10 | $21,086/yr | $3,278/yr | SELF-FUNDING |
| AT 10% DRAWDOWN (stock $332.17 → $298.95, hedge $7,635/yr) | |||
| CC at SS income stress-adjusted | $2,160/yr | $7,635/yr | DEFICIT $456/mo |
| CC at MID income stress-adjusted | $257/yr | $7,635/yr | DEFICIT $615/mo |
HP roll-downs do not change Safe Strike. SS = Max(LC+ND, (LC+SP+ND)/2). HP is not in the formula.
Monthly hedge cost prorated: (30/DTE) × (Ask × Shares). Payback = ML increase / Annual savings.
EST = ask price estimated as mid × 1.10 (10% safety buffer). Verify with live prices before executing.
Always prefer longest viable DTE for repair rolls (fewer rolls/yr = lower annual cost).