Instrument No. 001 · Caffeinated · Liquid

Positive
carry.

A performance-grade stimulant, structured as a daily position. 200 milligrams of clean focus, zero sugar, settled T+0 to your central nervous system.

CUSIP 0CARRY9 COUPON 200mg SUGAR 0.00g DURATION ~6h
200MG · 0G SUGAR CARRY PERFORMANCE-GRADE SERIES A · 12 FL OZ NO. 001 SETTLES T+0 · NON-TRANSFERABLE

The fact sheet

EX. A
0mg1
Caffeine coupon, per can
0g
Sugar. No carry cost.
0
Calories, fully expensed
0bps
Afternoon crash, realized2

Investment thesis

§ 01
Position summary
———
Asset class: stimulant
Strategy: long focus
Horizon: one workday
Conviction: high

The market for staying sharp is inefficient. The desk runs on burnt cold brew, a sugar position that gets margin-called at 2:30pm, and pre-workout that tastes like a compliance violation. CARRY is the cleaner trade.

Two hundred milligrams of caffeine, paired with L-theanine to flatten the volatility. No sugar, so no afternoon drawdown. The formulation is boring on purpose, the way good infrastructure is boring on purpose.

We priced it like an instrument because it behaves like one: predictable coupon, known duration, settles instantly. You are not buying a beverage. You are taking a position on your own output, and the carry is positive.

Term sheet

§ 02 · COMPARABLES
Metric CARRY Energy can Sugary cold brew Pre-workout
Caffeine (mg) 20080205320
Sugar (g) 027342
Crash risk NoneHighSevereMod.
Desk acceptability MD-gradeInternAnalystHR flag
Dignity retained 100%40%55%12%
All-in / unit $4.00$3.50$6.75$2.10

Comparables are illustrative and reflect a representative basket as observed on the trading floor. CARRY does not make a market in dignity. Past hydration is not indicative of future hydration.

Return profile

§ 03
R-01

Focus, annualized

Sustained attention from open to close, with theanine smoothing the curve so you don't spike and dump.

+340 bps
R-02

Time recovered

No 3pm coffee run, no line at the lobby cart, no small talk you have to expense in social capital.

~22 min/d
R-03

Optionality on the gym

Clean enough to take pre-lift, mild enough that 6am spin doesn't feel like a margin call.

Long vol
R-04

Status, repriced

A can that reads as taste, not as a vice. The label does the talking; you don't have to.

Accretive

Open a position

SUBSCRIPTION AGREEMENT
Spot $4.00 / can

A single position. Settles to your door T+2. For the uncommitted and the curious.

Buy one can
Recurring allocation · popular $3.20 / can

24 cans a month, dollar-cost averaged into your mornings. Skip, pause, or liquidate anytime. 20% off spot.

Start the allocation
The block trade $2.80 / can

The case of 72. For desks, war rooms, and anyone running a real book. Invoiced, naturally.

Request terms

Disclosures

SMALL PRINT, FULL CONVICTION

1. Caffeine coupon of 200mg is fixed at issuance and does not float. Individual sensitivity varies; size your position accordingly.

2. "Zero crash" reflects the absence of an added-sugar position and is not a guarantee against the consequences of a 19-hour day, which remain your own.

3. Past performance of caffeine is not indicative of future results. CARRY is a beverage, not a personality, though we understand the temptation.

4. Returns expressed in basis points are rhetorical. No actual yield, distribution, or carried interest is conferred by drinking this.

5. CARRY is not FDIC insured, not bank guaranteed, and may, in fact, be enjoyed. Consult a physician, not your PM, before exceeding two units daily.

6. Nothing herein constitutes investment advice. It constitutes an energy drink. The distinction is the entire joke and we are committed to it.