Replacement Lab - Interactive (Week 37)

Underlying

Target equity exposure ($)

$50,000

Underlying 1-yr move (%)

+10.0%

T-bill yield (%)

4.30%

Implied vol (%)

19.0%

Dividend yield (%)

1.30%

Tip

Drag the move slider to see who wins on each path.

Strategy	Capital	Freed cash	T-bill earn	Breakeven	Move PnL	Max upside	Max downside	Net total

Each strategy is sized to control the same target equity exposure. Capital, breakeven, and PnL come from Black-Scholes pricing for the option rows; SSO is modeled as 2x daily-reset with sigma squared decay and 0.9% expense ratio. The chart on the bottom shows the 1-year PnL profile across underlying moves from -40% to +60%.