Risk Manager

1 category is near limit — see tiles below

Trading capital

$40,000

Total exposure

$20638

Portfolio utilization

51.6%

Open categories

Directional

LEAPS (>6mo)

Longer-horizon directional, defined premium risk

$2394

of $3200

75% used$806 headroom

Multi-month thesis. Take 20% when reached. Cut at 35% loss if thesis degrades.

Max exposure: $3200TP: 20%SL: 35%

NVO×2Long Call233d

$1333 exp$-1335

SMCILong Call569d

$1061 exp$-1061

Stock replacement

Synthetic — investment

NEAR LIMIT

Stock-like exposure (long call + short put), ≥1yr horizon

$12600

of $14000

90% used$1400 headroom

≥270 DTE LEAPS; market cap >$5B, OI >1000 on both legs. Long 0.65Δ call + short 0.35Δ OTM put. Max 5% of portfolio per position. Manage by thesis — no rigid profit target on the investment sleeve. Remove short put leg if underlying drops 15–20% (put delta ≥0.60). Hard stop: underlying down 18% from entry or thesis breaks. Reduce if margin starts driving decisions.

Max exposure: $14000TP: 25%SL: 18%

NVO×2Synthetic Long569d

$5130 exp$-97

SMCI×3Synthetic Long569d

$7470 exp+$2414

Synthetic — trade

Stock-like exposure, tactical (<1yr)

$5644

of $8000

71% used$2356 headroom

Clear thesis + defined invalidation level required. Market cap >$5B, OI >1000. Max 5% of portfolio per position. 180–270 DTE, long 0.65Δ call + short 0.35Δ OTM put. Remove short put leg if underlying drops 10–12% (put delta approaches 0.60). Hard stop: underlying down 18% from entry or thesis breaks.

Max exposure: $8000TP: 15%SL: 18%

NUSynthetic Long233d

$1078 exp+$76

PATHSynthetic Long233d

$1201 exp$-100

TTDSynthetic Long233d

$1830 exp+$144

ZETASynthetic Long233d

$1535 exp$-297