# The SaaS impairment trade after Kimi K3

**Verdict.** **NO BLANKET NAKED CALL SALES.** Test only remote ADBE 350/400 and CRM 250/300 December call spreads; defer TTD until Q2. Use the premium for QQQ and GOOGL upside protection plus IGV downside convexity.

Full published report: https://saas-ai-short-call-dossier.us-east-1.gists.org