The Play

🪙 Why we hold the warrants: acquired via share ownership at distribution — we held the shares at the time, so the warrants were distributed to shareholders (held shares → received warrants).

Instead of a hand-typed multiplier, the model computes equiv shares from each leg. Every assumption is an adjustable input — tune them. Estimate (assumptions stated), not a guarantee.

Operator's dialed-in method: shares 7,499 + warrants 4,202 = 11,701 hard base, + options ~800 GME-equiv, + GMEU 2× ~897 (2,691 units priced ~$8 vs GME ~$22) → ≈ 13,398. AMC is a cushion (upside buffer), not in the count. Inputs adjustable; options is the soft leg — tighten it with per-contract delta + expirations (table below).

Each option lot + its expiration plugs into the model. Options expirations feed the equivalent-share + timeline model. ⏳ Track each option's expiration — the nearest expiration drives timing (we'll fill exact dates when you give them). Fill each lot:

Warrants 4,202 by account: TSRH 2,644 ($8,223 · $3.11 · val $7,430 · P/L −$793) · TOS 1,444 ($4,159 · $2.88 · val $4,058 · P/L −$101) · BSRH 88 ($189) · JSRH 15 · NSRH ~11 ($0).

GMEU: TSRH 1,334 @ $9.77 (of 2,691 total). Account values (codes only): TSRH $105,006 · TOS $90,084 · BSRH $44,613 · JSRH $22,329 · WeBull $10,399 · NSRH $7,253 · MSRH $2,401 · Bank $2,631 · RH Cash $2,510 · Cash $31,547 · Metals $96,225 · Pi $195.

Cost basis lives on the MEME tab — what we paid, fixed. Live price = market. P/L = the gap. Today: −$78,977 (1×) / −$83,631 (2× leveraged).

Ownership (separate from custody / which account holds it — no names): Partner A 54.7% · Partner B 23.4% · Partner C 21.9%.

1. Options — out first (most leverage; short-term tax — book deliberately).
2. Warrants — early; exercise to manage tax (hard clock 10/30/26).
3. GMEU — leveraged units.
4. Common — last; the long-term core, sold into the scenarios above.

A partner is building a long-term high-dividend portfolio. As the play realizes, proceeds cycle into those long-term dividend holdings — turning a volatile play into durable income over time.

Separate lane from the main play — where other holdings + new plays get a target and a research note (what to do with them). Clean framework, fill as we go.

1. What we hold — common (the core), GMEU (leveraged units), warrants (cheap upside, expiry), options (most leverage). Reconciled to the MEME tab.
2. Deleverage first / early — options & warrants out before common. They decay + expire; bank them first.
3. Tax — leverage/warrants are short-term (bigger tax). Sell the leverage + exercise warrants early to handle it; common is the long-term leg.
4. Exit by account — TSRH first (active, has LT lots), TOS next (most-traded, LT TBD); hold the rest (BSRH/JSRH/NSRH/MSRH/WeBull) as long as possible.
5. 369 scenarios — scale the exit at S3 $277.75 (≈13×), S2 $555.50 (≈25×), S1 $1,111 (≈50×).
6. Buyback rungs — re-enter on the $26 → $636 ladder.
7. Floor 111 — never sell below 111 common; that core never leaves.
8. Cycle — proceeds flow into the long-term dividend lane (Partner B).

Public figures behind the playbook mindset: