Should I book, protect, or add?
Positions up 20% or more, with the trim-collar-hold decision worked through in full — including the case for doing nothing.
Open it after a run. A winner that has grown into an oversized share of the book is the single most common unmade decision in a retail portfolio, and it stays unmade because every option feels defensible.
For each runner: what carried the move, whether the multiple re-rated, and two or three concrete structures — with realized P&L, floor, cap and cost attached to each.
Every runner, flagged
All positions up 20%+ surfaced together, so you're deciding across the book rather than one name at a time. Ten of them on the sample book.
What actually carried the move
Erina separates a re-rating from real growth. A stock that doubled on multiple expansion is a different decision from one that doubled on earnings.
Structures with the numbers attached
Trim with realized P&L and remaining exposure. Collars with floor, cap and net cost. Protective puts with the premium as a share of position value.
Hold is a first-class option
Holding is presented with its own reasoning, not as the absence of a recommendation. Sometimes the right answer is that the thesis is intact and the multiple is beside the point.
What it actually says.
Lifted verbatim from this workspace running on the sample book — so you can judge the register of the reasoning before you sign up, not after.
GOOGL is up 35% since entry and search-monetization headwinds from AI disruption haven't materialized in results yet — Search revenue growth actually re-accelerated last quarter, and Cloud is finally hitting positive operating margin. The stock is trading at ~22× forward, which is only slightly above its 5-year average.
The risk isn't valuation, it's regulatory. DOJ remedies in the search case land later this year and could force structural changes (default-placement bans, ad-auction reform). Position sizing should reflect that binary.
Valuation isn't stretched, and the market has already priced in a meaningful negative outcome. If you're holding anything through a binary, this is the one.
Two contracts against 200 shares. Defines the loss floor through the ruling window — cheap insurance on a binary event.
Brings position size back to core weight and removes the tail-risk overhang from a chunk of the position.
Illustrative output on sample data — not a recommendation, and not investment advice. Choosing an option in the app saves it as a tracked recommendation; Erina never places an order.
The decisions next to this one.
What is this print actually pricing?
Every position reporting in the next two weeks — expectations set before the print, not after it.
Open workspace →What do I do with what I own?
Hold, trim, protect, harvest — every decision on the book you already have, in one place.
Open workspace →See it on a real book before you trust it with yours.
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