replay of saved inputs · positions from the TWS snapshot (22s old) · roll-by = expiry minus 30 days (pending your answer on the roll lead)
Main:1299 · 14 fortress(es) · 5 actionable · IC $1,234,550
| Fortress | Contracts | LC / SP / HP (CSV) | Spot | Hedge held | State | Roll by | Hedge carry/yr | Max Loss | If hedge lapses |
|---|
| BMNR (Main) | 75 | 23 / 18 / 25 | $23.10 | 75x 25P Jan 21 | OVER-HEDGED | - | $23,952 owned | $211,950 | - |
| GLD | 10 | 320 / 450 / 330 | $377.89 | 10x 330P Nov 20 | DUE | Oct 21 | $11,852 | $256,000 | $586,000 (+330,000) |
| MU (Main) | 5 | 880 / 1010 / 340 | $910.56 | 5x 340P Nov 20 | DUE | Oct 21 | $3,599 | $409,300 | $579,300 (+170,000) |
| IREN (Main) | 20 | 25 / 47 / 35 | $27.04 | 20x 35P Jan 15 | PAID OUT | Dec 16 | $21,609 | $56,000 | $126,000 (+70,000) |
| COIN (Main) | 25 | 500 / 330 / 300 | $172.21 | 25x 300P Dec 17 | PAID OUT | - | $29,316 owned | $232,500 | - |
|
| COIN (Main) | 8 | 165 / 240 / 90 | $172.21 | 8x 90P Dec 18 | QUIET | Nov 18 | $2,787 | $133,440 | $205,440 (+72,000) |
| AMD | 2 | 410 / 550 / 470 | $540.99 | 2x 470P Jan 15 | QUIET | Dec 16 | $19,886 | $63,840 | $157,840 (+94,000) |
| DELL | 3 | 310 / 400 / 320 | $464.14 | 3x 320P Jan 15 | QUIET | Dec 16 | $12,821 | $99,750 | $195,750 (+96,000) |
| BMNR (Main) | 50 | 25 / 0 / 0 | $23.10 | - | QUIET | - | - | $204,150 | - |
| GLXY | 125 | 37.5 / 37.5 / 17.5 | $16.07 | 125x 17.5P Jan 21 | QUIET | - | $33,708 owned | $277,625 | - |
| HIMS | 15 | 10 / 20 / 5 | $29.78 | 15x 5P Jan 21 | QUIET | - | $240 owned | $29,895 | - |
| IGV | 12 | 70 / 0 / 0 | $106.99 | - | QUIET | - | - | $31,800 | - |
| MARA (Main) | 400 | 13 / 0 / 0 | $7.73 | - | QUIET | - | - | $150,000 | - |
| NVDA | 10 | 215 / 225 / 200 | $216.92 | 10x 200P Jun 16 | QUIET | - | $12,480 owned | $74,800 | - |
BMNR (Main) OVER-HEDGED
75 contracts, CSV row 28 | hedge 75x 25P Jan 21 (458d, owned), mark $7.90 | Max Loss $211,950
Harvest it down below the short put?
- Convexity hold: no covered-call income assumed. Exit plan $70.
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| KEEP | 25P Jan 21 '28 | $0 | $0 | $0 | $0 | $0 | $0 | - | $22,569 | $0 | +0 | - | - |
| HARVEST | 15P Jan 15 '27 | +$55,051 | +$14,250 | +$41,213 | -$411 | -$19,949 | -$132,449 | $17,669 | $16,362 | -$55,292 | +1,955 | 34c per $1 | Roll in TWS tab |
| RESTRIKE | 15P Jan 21 '28 | +$39,151 | +$14,250 | +$25,200 | -$299 | -$35,849 | -$35,849 | - | $14,509 | -$53,214 | +1,317 | - | - |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
Why: Convexity hold: your thesis decides, nothing highlighted.
GLD DUE · roll by Oct 21
10 contracts, CSV row 5 | hedge 10x 330P Nov 20 (31d), mark $0.38 | Max Loss $256,000
Roll now: which replacement?
- If it lapses: the account floor loses $330,000; Max Loss $586,000 (+$330,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 330P Dec 31 '26 | -$1,060 | $0 | -$930 | -$130 | -$1,060 | -$1,060 | $9,947 | $9,212 | $0 | -40 | - | Roll in TWS tab |
| CHEAPER | 325P Dec 31 '26 | -$760 | $0 | -$660 | -$100 | -$5,760 | -$760 | $8,083 | $7,485 | -$3,274 | -26 | 40c per $1 | Roll in TWS tab |
| SAFER | 331P Jan 15 '27 | -$1,390 | $0 | -$1,360 | -$30 | -$390 | -$1,390 | $10,145 | $9,394 | +$817 | -55 | 29c per $1 | Roll in TWS tab |
| OWN (est) | 330P Jan 21 '28 est ($13.45 to $13.63 a share) | -$13,502 | $0 | -$13,088 | -$413 | -$13,502 | +$316,498 | - | $10,417 | -$1,206 | -173 | - | Display only |
| OWN (est) | 375P Jan 21 '28 est | -$28,600 | $0 | -$27,415 | -$1,185 | +$16,400 | +$346,400 | - | $12,789 | +$39,313 | -330 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
MU (Main) DUE · roll by Oct 21
5 contracts, CSV row 17 | hedge 5x 340P Nov 20 (31d), mark $0.16 | Max Loss $409,300
Roll now: which replacement?
- If it lapses: the account floor loses $170,000; Max Loss $579,300 (+$170,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 340P Jan 15 '27 | -$495 | $0 | -$438 | -$57 | -$495 | -$495 | $3,051 | $2,826 | $0 | -2 | - | Roll in TWS tab |
| SAFER | 390P Jan 15 '27 | -$725 | $0 | -$665 | -$60 | +$24,275 | -$725 | $4,497 | $4,165 | +$23,656 | -4 | 6c per $1 | Roll in TWS tab |
| OWN (est) | 340P Jan 21 '28 est | -$4,640 | $0 | -$4,322 | -$317 | -$4,640 | +$165,360 | - | $4,469 | -$2,164 | -13 | - | Display only |
| OWN (est) | 910P Jan 21 '28 est | -$90,540 | $0 | -$89,872 | -$667 | +$194,460 | +$364,460 | - | $43,024 | +$243,582 | -182 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
IREN (Main) PAID OUT · roll by Dec 16
20 contracts, CSV row 3 | hedge 20x 35P Jan 15 (87d), mark $10.38 | Max Loss $56,000
Harvest it, and how far down?
- IREN reports Nov 05, before the roll-by date; the current put covers it.
- in the money by $7.96/share
- If it lapses: the account floor loses $70,000; Max Loss $126,000 (+$70,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | KEEP | 35P Jan 15 '27 | $0 | $0 | $0 | $0 | $0 | $0 | $21,224 | $19,654 | $0 | +0 | - | - |
| HARVEST | 27P Jan 15 '27 | +$10,080 | +$15,920 | -$5,520 | -$320 | -$5,920 | +$10,080 | $26,269 | $24,326 | -$5,371 | +429 | 85c per $1 | Roll in TWS tab |
| HARVEST | 25P Jan 15 '27 | +$12,380 | +$15,920 | -$3,420 | -$120 | -$7,620 | +$12,380 | $25,099 | $23,243 | -$7,888 | +551 | 51c per $1 | Roll in TWS tab |
| OWN (est) | 25P Jan 21 '28 est | +$2,880 | +$15,920 | -$12,470 | -$570 | -$17,120 | +$52,880 | - | $8,386 | +$6,069 | +692 | - | Display only |
| OWN (est) | 35P Jan 21 '28 est | -$10,820 | $0 | -$10,100 | -$720 | -$10,820 | +$59,180 | - | $9,276 | +$8,959 | +432 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so keep this hedge: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
COIN (Main) PAID OUT
25 contracts, CSV row 30 | hedge 25x 300P Dec 17 (423d, owned), mark $138.39 | Max Loss $232,500
Harvest it, and how far down?
- in the money by $127.79/share
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | KEEP | 300P Dec 17 '27 | $0 | $0 | $0 | $0 | $0 | $0 | - | $22,434 | $0 | +0 | - | - |
| HARVEST | 170P Jan 15 '27 | +$288,975 | +$319,475 | -$29,100 | -$1,400 | -$36,025 | -$461,025 | $134,696 | $111,816 | -$97,682 | +573 | 299c per $1 | Roll in TWS tab |
| HARVEST | 150P Jan 15 '27 | +$312,600 | +$319,475 | -$6,412 | -$462 | -$62,400 | -$437,400 | $105,303 | $87,416 | -$121,406 | +940 | 125c per $1 | Roll in TWS tab |
| RESTRIKE | 290P Dec 17 '27 | +$11,350 | +$25,000 | -$9,750 | -$3,900 | -$13,650 | -$13,650 | - | $25,875 | -$11,216 | -81 | - | - |
| RESTRIKE | 220P Dec 17 '27 | +$151,350 | +$200,000 | -$46,062 | -$2,587 | -$48,650 | -$48,650 | - | $41,866 | -$24,582 | +369 | - | - |
| RESTRIKE | 175P Dec 17 '27 | +$226,100 | +$312,500 | -$82,875 | -$3,525 | -$86,400 | -$86,400 | - | $43,866 | -$28,457 | +715 | - | - |
| RESTRIKE | 145P Dec 17 '27 | +$266,600 | +$319,475 | -$50,350 | -$2,525 | -$120,900 | -$120,900 | - | $40,160 | -$90,776 | +959 | - | - |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
Why: The account is below the bar, so keep this hedge: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
Joint:1782 · 8 fortress(es) · 3 actionable · IC $354,904
| Fortress | Contracts | LC / SP / HP (CSV) | Spot | Hedge held | State | Roll by | Hedge carry/yr | Max Loss | If hedge lapses |
|---|
| BMNR (Joint) | 82 | 23 / 18 / 25 | $23.10 | 82x 25P Jan 21 | OVER-HEDGED | - | $26,184 owned | $93,644 | - |
| AMZN | 5 | 200 / 250 / 215 | $263.25 | 5x 215P Nov 20 | EXPIRING | Oct 30 | $13,829 | $51,460 | $158,960 (+107,500) |
| IREN (Joint) | 20 | 25 / 47 / 35 | $27.04 | 20x 35P Jan 15 | PAID OUT | Dec 16 | $21,609 | $56,000 | $126,000 (+70,000) |
|
| HOOD | 10 | 65 / 95 / 80 | $98.94 | 10x 80P Jan 15 | QUIET | Dec 16 | $17,776 | $64,950 | $144,950 (+80,000) |
| COPX | 20 | 65 / 90 / 68 | $79.72 | 20x 68P Jan 21 | QUIET | - | $11,304 owned | $100,800 | - |
| GOOG (Joint) | 5 | 310 / 0 / 0 | $337.43 | - | QUIET | - | - | $41,250 | - |
| IBIT | 50 | 75 / 0 / 0 | $46.82 | - | QUIET | - | - | -$22,100 | - |
| MSTR (Joint) | 10 | 180 / 0 / 0 | $145.03 | - | QUIET | - | - | $53,000 | - |
BMNR (Joint) OVER-HEDGED
82 contracts, CSV row 29 | hedge 82x 25P Jan 21 (458d, owned), mark $7.90 | Max Loss $93,644
Harvest it down below the short put?
- Convexity hold: no covered-call income assumed. Exit plan $70.
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| KEEP | 25P Jan 21 '28 | $0 | $0 | $0 | $0 | $0 | $0 | - | $24,675 | $0 | +0 | - | - |
| HARVEST | 15P Jan 15 '27 | +$60,189 | +$15,580 | +$45,059 | -$450 | -$21,811 | -$144,811 | $19,318 | $17,889 | -$60,453 | +2,137 | 34c per $1 | Roll in TWS tab |
| RESTRIKE | 15P Jan 21 '28 | +$42,805 | +$15,580 | +$27,552 | -$327 | -$39,195 | -$39,195 | - | $15,863 | -$58,180 | +1,440 | - | - |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
Why: Convexity hold: your thesis decides, nothing highlighted.
AMZN EXPIRING · roll by Oct 30
5 contracts, CSV row 34 | hedge 5x 215P Nov 20 (31d), mark $0.89 | Max Loss $51,460
Which replacement?
- AMZN reports Oct 29: roll the day after the print (Oct 30).
- If it lapses: the account floor loses $107,500; Max Loss $158,960 (+$107,500).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 215P Jan 15 '27 | -$890 | $0 | -$857 | -$32 | -$890 | -$890 | $7,436 | $6,886 | $0 | -25 | - | Roll in TWS tab |
| CHEAPER | 210P Jan 15 '27 | -$635 | $0 | -$618 | -$17 | -$3,135 | -$635 | $6,229 | $5,768 | -$1,382 | -16 | 54c per $1 | Roll in TWS tab |
| SAFER | 220P Jan 15 '27 | -$1,215 | $0 | -$1,172 | -$42 | +$1,285 | -$1,215 | $8,889 | $8,231 | +$1,135 | -36 | 67c per $1 | Roll in TWS tab |
| OWN (est) | 240P Jan 21 '28 est | -$11,840 | $0 | -$11,710 | -$130 | +$660 | +$108,160 | - | $7,684 | +$11,508 | -122 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
IREN (Joint) PAID OUT · roll by Dec 16
20 contracts, CSV row 4 | hedge 20x 35P Jan 15 (87d), mark $10.38 | Max Loss $56,000
Harvest it, and how far down?
- IREN reports Nov 05, before the roll-by date; the current put covers it.
- in the money by $7.96/share
- If it lapses: the account floor loses $70,000; Max Loss $126,000 (+$70,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | KEEP | 35P Jan 15 '27 | $0 | $0 | $0 | $0 | $0 | $0 | $21,224 | $19,654 | $0 | +0 | - | - |
| HARVEST | 27P Jan 15 '27 | +$10,080 | +$15,920 | -$5,520 | -$320 | -$5,920 | +$10,080 | $26,269 | $24,326 | -$5,371 | +429 | 85c per $1 | Roll in TWS tab |
| HARVEST | 25P Jan 15 '27 | +$12,380 | +$15,920 | -$3,420 | -$120 | -$7,620 | +$12,380 | $25,099 | $23,243 | -$7,888 | +551 | 51c per $1 | Roll in TWS tab |
| OWN (est) | 25P Jan 21 '28 est | +$2,880 | +$15,920 | -$12,470 | -$570 | -$17,120 | +$52,880 | - | $8,386 | +$6,069 | +692 | - | Display only |
| OWN (est) | 35P Jan 21 '28 est | -$10,820 | $0 | -$10,100 | -$720 | -$10,820 | +$59,180 | - | $9,476 | +$8,759 | +432 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so keep this hedge: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
Neville:0865 · 10 fortress(es) · 5 actionable · IC $441,025
| Fortress | Contracts | LC / SP / HP (CSV) | Spot | Hedge held | State | Roll by | Hedge carry/yr | Max Loss | If hedge lapses |
|---|
| CRWV | 5 | 105 / 120 / 40 | $62.82 | 5x 40P Nov 20 | DUE | Oct 21 | $8,862 | $50,225 | $70,225 (+20,000) |
| IREN (Neville) | 20 | 45 / 65 / 21 | $27.04 | 20x 21P Nov 20 | DUE | Oct 21 | $35,573 | $94,000 | $136,000 (+42,000) |
| MU (Neville) | 2 | 970 / 1110 / 390 | $910.56 | 2x 390P Nov 20 | DUE | Oct 21 | $2,168 | $194,000 | $272,000 (+78,000) |
| SNDK | 1 | 1200 / 1380 / 810 | $1,382.80 | 1x 810P Nov 20 | EXPIRING | Oct 30 | $6,933 | $99,000 | $180,000 (+81,000) |
| GOOG (Neville) | 5 | 340 / 405 / 360 | $337.43 | 5x 360P Jun 17 | PAID OUT | - | $11,772 owned | $48,000 | - |
|
| INTC | 5 | 85 / 100 / 35 | $93.09 | 5x 35P Dec 18 | QUIET | Nov 18 | $289 | $47,000 | $64,500 (+17,500) |
| CRCL | 5 | 45 / 65 / 40 | $86.23 | 5x 40P Jan 15 | QUIET | Dec 16 | $869 | $33,500 | $53,500 (+20,000) |
| GOOG (Neville) | 15 | 300 / 345 / 310 | $337.43 | 15x 310P Jan 21 | QUIET | - | $28,584 owned | $162,000 | - |
| SPCX | 5 | 150 / 195 / 135 | $147.65 | 5x 135P Mar 19 | QUIET | - | $14,472 owned | $43,500 | - |
| SPY | 12 | 640 / 0 / 0 | $769.23 | - | QUIET | - | - | $148,800 | - |
CRWV DUE · roll by Oct 21
5 contracts, CSV row 14 | hedge 5x 40P Nov 20 (31d), mark $0.67 | Max Loss $50,225
Roll now: which replacement?
- CRWV reports Nov 11, too close to expiry to wait: rolling before the print pays its event vol in the new put.
- If it lapses: the account floor loses $20,000; Max Loss $70,225 (+$20,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 40P Jan 15 '27 | -$700 | $0 | -$663 | -$37 | -$700 | -$700 | $5,435 | $5,033 | $0 | -24 | - | Roll in TWS tab |
| CHEAPER | 32.5P Jan 15 '27 | -$185 | $0 | -$150 | -$35 | -$3,935 | -$185 | $2,866 | $2,654 | -$1,371 | +4 | 79c per $1 | Roll in TWS tab |
| SAFER | 62.5P Jan 15 '27 | -$4,755 | $0 | -$4,675 | -$80 | +$6,495 | -$4,755 | $13,135 | $12,163 | +$4,035 | -170 | 107c per $1 | Roll in TWS tab |
| OWN (est) | 40P Jan 21 '28 est | -$4,280 | $0 | -$4,175 | -$105 | -$4,280 | +$15,720 | - | $3,421 | +$1,477 | -48 | - | Display only |
| OWN (est) | 62.5P Jan 21 '28 est | -$10,805 | $0 | -$10,212 | -$592 | +$445 | +$20,445 | - | $5,343 | +$9,830 | -123 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
IREN (Neville) DUE · roll by Oct 21
20 contracts, CSV row 7 | hedge 20x 21P Nov 20 (31d), mark $1.05 | Max Loss $94,000
Roll now: which replacement?
- IREN reports Nov 05, too close to expiry to wait: rolling before the print pays its event vol in the new put.
- If it lapses: the account floor loses $42,000; Max Loss $136,000 (+$42,000).
- No usable 21P quote at the replacement tenors; the roll line uses the nearest real strike below it.
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 20P Jan 15 '27 | -$1,940 | $0 | -$1,870 | -$70 | -$3,940 | -$1,940 | $17,930 | $16,604 | $0 | -34 | - | Roll in TWS tab |
| CHEAPER | 17P Jan 15 '27 | -$380 | $0 | -$230 | -$150 | -$8,380 | -$380 | $12,154 | $11,255 | -$2,811 | +106 | 130c per $1 | Roll in TWS tab |
| SAFER | 27P Jan 15 '27 | -$8,360 | $0 | -$8,040 | -$320 | +$3,640 | -$8,360 | $26,269 | $24,326 | +$3,778 | -441 | 110c per $1 | Roll in TWS tab |
| OWN (est) | 25P Jan 21 '28 est | -$15,560 | $0 | -$14,990 | -$570 | -$7,560 | +$34,440 | - | $8,889 | +$14,714 | -178 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
MU (Neville) DUE · roll by Oct 21
2 contracts, CSV row 21 | hedge 2x 390P Nov 20 (31d), mark $0.27 | Max Loss $194,000
Roll now: which replacement?
- If it lapses: the account floor loses $78,000; Max Loss $272,000 (+$78,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 390P Jan 15 '27 | -$268 | $0 | -$244 | -$24 | -$268 | -$268 | $1,799 | $1,666 | $0 | -1 | - | Roll in TWS tab |
| CHEAPER | 340P Jan 15 '27 | -$176 | $0 | -$153 | -$23 | -$10,176 | -$176 | $1,220 | $1,130 | -$9,464 | -1 | 6c per $1 | Roll in TWS tab |
| SAFER | 460P Jan 15 '27 | -$452 | $0 | -$424 | -$28 | +$13,548 | -$452 | $2,934 | $2,717 | +$12,941 | -3 | 8c per $1 | Roll in TWS tab |
| OWN (est) | 390P Jan 21 '28 est | -$2,614 | $0 | -$2,522 | -$92 | -$2,614 | +$75,386 | - | $2,591 | -$1,061 | -8 | - | Display only |
| OWN (est) | 910P Jan 21 '28 est | -$36,194 | $0 | -$35,927 | -$267 | +$67,806 | +$145,806 | - | $17,209 | +$87,971 | -72 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
SNDK EXPIRING · roll by Oct 30
1 contracts, CSV row 35 | hedge 1x 810P Nov 20 (31d), mark $2.21 | Max Loss $99,000
Which replacement?
- SNDK reports Oct 29: roll the day after the print (Oct 30).
- If it lapses: the account floor loses $81,000; Max Loss $180,000 (+$81,000).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 810P Jan 15 '27 | -$1,031 | $0 | -$850 | -$181 | -$1,031 | -$1,031 | $6,544 | $6,060 | $0 | -3 | - | Roll in TWS tab |
| CHEAPER | 780P Jan 15 '27 | -$701 | $0 | -$645 | -$56 | -$3,701 | -$701 | $5,326 | $4,932 | -$1,872 | -2 | 46c per $1 | Roll in TWS tab |
| SAFER | 820P Jan 15 '27 | -$961 | $0 | -$895 | -$66 | +$39 | -$961 | $6,806 | $6,303 | +$757 | -3 | 24c per $1 | Roll in TWS tab |
| OWN (est) | 810P Jan 21 '28 est | -$9,831 | $0 | -$9,165 | -$666 | -$9,831 | +$71,169 | - | $8,285 | -$3,195 | -11 | - | Display only |
| OWN (est) | 1370P Jan 21 '28 est | -$35,541 | $0 | -$34,885 | -$656 | +$20,459 | +$101,459 | - | $17,089 | +$44,021 | -31 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
GOOG (Neville) PAID OUT
5 contracts, CSV row 23 | hedge 5x 360P Jun 17 (240d, owned), mark $44.97 | Max Loss $48,000
Harvest it, and how far down?
- in the money by $22.57/share
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | KEEP | 360P Jun 17 '27 | $0 | $0 | $0 | $0 | $0 | $0 | - | $3,924 | $0 | +0 | - | - |
| HARVEST | 335P Jan 15 '27 | +$12,995 | +$11,285 | +$1,828 | -$117 | +$495 | -$167,005 | $23,885 | $7,853 | -$5,374 | +33 | 2414c per $1 | Roll in TWS tab |
| RESTRIKE | 355P Jun 17 '27 | +$1,120 | +$2,500 | -$1,138 | -$242 | -$1,380 | -$1,380 | - | $3,719 | -$275 | -1 | - | - |
| RESTRIKE | 305P Jun 17 '27 | +$12,445 | +$11,285 | +$1,378 | -$217 | -$15,055 | -$15,055 | - | $3,943 | -$16,664 | +109 | - | - |
| RESTRIKE | 255P Jun 17 '27 | +$18,870 | +$11,285 | +$7,653 | -$67 | -$33,630 | -$33,630 | - | $2,119 | -$39,540 | +190 | - | - |
| RESTRIKE | 205P Jun 17 '27 | +$21,295 | +$11,285 | +$10,030 | -$20 | -$56,205 | -$56,205 | - | $714 | -$63,040 | +231 | - | - |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
Why: The account is below the bar, so keep this hedge: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
RetireInc:7291 · 9 fortress(es) · 3 actionable · IC $180,200
| Fortress | Contracts | LC / SP / HP (CSV) | Spot | Hedge held | State | Roll by | Hedge carry/yr | Max Loss | If hedge lapses |
|---|
| IREN (RetireInc) | 20 | 50 / 70 / 23 | $27.04 | 20x 23P Nov 20 | DUE | Oct 21 | $39,496 | $107,700 | $153,700 (+46,000) |
| AAPL | 5 | 240 / 330 / 285 | $340.68 | 5x 285P Nov 20 | EXPIRING | Nov 03 | $8,814 | $69,820 | $212,320 (+142,500) |
| APP | 1 | 460 / 540 / 185 | $274.73 | 1x 185P Nov 20 | EXPIRING | Nov 05 | $4,098 | $48,300 | $66,800 (+18,500) |
|
| ENPH | 10 | 45 / 60 / 20 | $32.20 | 10x 20P Dec 18 | QUIET | Nov 18 | $1,908 | $47,300 | $67,300 (+20,000) |
| MSTR (RetireInc) | 4 | 125 / 185 / 55 | $145.03 | 4x 55P Dec 18 | QUIET | Nov 18 | $957 | $56,800 | $78,800 (+22,000) |
| QCOM | 5 | 190 / 210 / 100 | $174.86 | 5x 100P Dec 18 | QUIET | Nov 18 | $795 | $72,000 | $122,000 (+50,000) |
| RKLB | 6 | 115 / 135 / 45 | $51.45 | 6x 45P Dec 18 | QUIET | Nov 18 | $10,104 | $69,930 | $96,930 (+27,000) |
| CLSK | 25 | 17 / 17 / 10 | $8.66 | 25x 10P Jan 21 | QUIET | - | $3,456 owned | $26,850 | - |
| MARA (RetireInc) | 500 | 40 / 0 / 0 | $7.73 | - | QUIET | - | - | $52,000 | - |
IREN (RetireInc) DUE · roll by Oct 21
20 contracts, CSV row 13 | hedge 20x 23P Nov 20 (31d), mark $1.64 | Max Loss $107,700
Roll now: which replacement?
- IREN reports Nov 05, too close to expiry to wait: rolling before the print pays its event vol in the new put.
- If it lapses: the account floor loses $46,000; Max Loss $153,700 (+$46,000).
- No usable 23P quote at the replacement tenors; the roll line uses the nearest real strike below it.
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 22P Jan 15 '27 | -$2,300 | $0 | -$2,150 | -$150 | -$4,300 | -$2,300 | $21,637 | $20,036 | $0 | +9 | - | Roll in TWS tab |
| CHEAPER | 20P Jan 15 '27 | -$760 | $0 | -$690 | -$70 | -$6,760 | -$760 | $17,930 | $16,604 | -$2,568 | +118 | 151c per $1 | Roll in TWS tab |
| SAFER | 27P Jan 15 '27 | -$7,180 | $0 | -$6,860 | -$320 | +$820 | -$7,180 | $26,269 | $24,326 | +$3,370 | -289 | 90c per $1 | Roll in TWS tab |
| OWN (est) | 23P Jan 21 '28 est | -$11,980 | $0 | -$11,610 | -$370 | -$11,980 | +$34,020 | - | $8,503 | +$11,093 | +29 | - | Display only |
| OWN (est) | 25P Jan 21 '28 est | -$14,380 | $0 | -$13,810 | -$570 | -$10,380 | +$35,620 | - | $8,851 | +$14,345 | -26 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
AAPL EXPIRING · roll by Nov 03
5 contracts, CSV row 39 | hedge 5x 285P Nov 20 (31d), mark $0.60 | Max Loss $69,820
Which replacement?
- AAPL reports Nov 02: roll the day after the print (Nov 03).
- If it lapses: the account floor loses $142,500; Max Loss $212,320 (+$142,500).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 285P Jan 15 '27 | -$775 | $0 | -$752 | -$22 | -$775 | -$775 | $6,154 | $11,837 | $0 | -24 | - | Roll in TWS tab |
| CHEAPER | 280P Jan 15 '27 | -$600 | $0 | -$572 | -$27 | -$3,100 | -$600 | $5,189 | $9,981 | -$654 | -17 | 42c per $1 | Roll in TWS tab |
| SAFER | 290P Jan 15 '27 | -$1,030 | $0 | -$975 | -$55 | +$1,470 | -$1,030 | $7,293 | $14,027 | +$244 | -32 | 51c per $1 | Roll in TWS tab |
| OWN (est) | 320P Jan 19 '29 est | -$16,515 | $0 | -$16,160 | -$355 | +$985 | +$143,485 | - | $12,107 | +$16,565 | -135 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).
APP EXPIRING · roll by Nov 05
1 contracts, CSV row 11 | hedge 1x 185P Nov 20 (31d), mark $1.33 | Max Loss $48,300
Which replacement?
- APP reports Nov 04: roll the day after the print (Nov 05).
- If it lapses: the account floor loses $18,500; Max Loss $66,800 (+$18,500).
| Line | Contract | Cash now | Banked | Time value | Friction | Floor change | Owned-only floor | Carry/yr | Cost to handoff | Floor at handoff | Upside (sh) | Price | Order |
|---|
| ▶ | ROLL SAME STRIKE | 185P Jan 15 '27 | -$336 | $0 | -$305 | -$31 | -$336 | -$336 | $2,401 | $2,223 | $0 | -4 | - | Roll in TWS tab |
| CHEAPER | 175P Jan 15 '27 | -$226 | $0 | -$200 | -$26 | -$1,226 | -$226 | $1,842 | $1,705 | -$482 | -2 | 63c per $1 | Roll in TWS tab |
| SAFER | 190P Jan 15 '27 | -$416 | $0 | -$365 | -$51 | +$84 | -$416 | $2,697 | $2,497 | +$186 | -5 | 70c per $1 | Roll in TWS tab |
| OWN (est) | 185P Jan 21 '28 est | -$2,836 | $0 | -$2,695 | -$141 | -$2,836 | +$15,664 | - | $2,217 | -$214 | -13 | - | Display only |
| OWN (est) | 270P Jan 21 '28 est | -$6,866 | $0 | -$6,510 | -$356 | +$1,634 | +$20,134 | - | $3,134 | +$6,939 | -29 | - | Display only |
Carry already includes the time value paid in Cash now; do not add the two. Floors count every stock at $0.
OWN = buy one put lasting to the short put's expiry instead of renting short ones. Cost to handoff compares both paths over the same days (to 120 days before the short put expires, when Rolls takes over); Floor at handoff is how much better (+) or worse (-) the account floor ends up than the picked line. OWN prices are estimates (no market quote for that expiry yet), priced off your long legs' volatility from TWS marks, so they move with it: the range in brackets uses the LC's and the SP's vols. They are never picked until you decide on owned hedges (D1).
Why: The account is below the bar, so roll the same strike: no line raises the floor cheaply enough, and rented floor never meets the ironclad test (owning or de-levering does).