Every chain's best Fortress sized to the SAME contract count for apples-to-apples capital / max-loss / margin comparison. Change the dropdown to resize. Tick up to 2 chains in the ☑ column to compare them side by side. Structure: + = bought (long), − = sold (short). Click any BE & CC-Safe cell to open that chain's CC-Safe Strike card.
★ Score = (Weighted P&L ÷ Max Loss) × horizon-fit. Weighted P&L = expected expiry dollars across a weighted scenario basket. Moderate-bull basket (Bucket A weights): +25% carries the biggest weight, then +50% / +75%; flat and -20% count (they penalize high breakevens); +100% / +200% taper off — rewards stock-replacement structures that pay across the likely-bull range. ÷ Max Loss turns it into return-per-dollar-at-risk (capital efficiency, so a deeper/longer structure is not rewarded just for costing more). × horizon-fit peaks in the 1-2yr window (365-730 DTE) and tapers outside it, keeping the pick inside the thesis horizon. All three terms are size-invariant, so the ★ does not move when you change the contract count.
| ☑ | Chain | Structure | Ct | Delta | Sh Eqv | IC | ML | Margin | Theta | BE & CC-Safe | PnL @ +100% |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar '27 (280d) | +$215C −$250P +$225P | 17 | +0.845/sh | +1,436 | $56,695 | $99,195 | $66,834 | $-104/d | BE $249.18 (+5%) CC-Safe ▾ | $+385,611 | |
| Jun '27 (370d) ★ | +$210C −$260P +$235P | 17 | +0.820/sh | +1,395 | $70,210 | $112,710 ▲ | $69,817 | $-126/d | BE $255.65 (+8%) CC-Safe ▾ | $+380,596 | |
| Jul '27 (399d) | +$215C −$260P +$230P | 17 | +0.852/sh | +1,448 | $62,305 | $113,305 ▲ | $70,490 | $-95/d | BE $255.82 (+8%) CC-Safe ▾ | $+380,001 | |
| Dec '27 (553d) | +$220C −$260P +$235P | 17 | +0.801/sh | +1,361 | $77,605 | $120,105 ▲ | $70,143 | $-83/d | BE $265.65 (+12%) CC-Safe ▾ | $+356,201 | |
| Jan '28 (588d) | +$220C −$240P +$210P | 17 | +0.821/sh | +1,396 | $79,305 | $130,305 ▲ | $69,890 | $-80/d | BE $266.65 (+12%) CC-Safe ▾ | $+354,501 | |
| Jun '28 (735d) | +$210C −$260P +$230P | 17 | +0.843/sh | +1,434 | $102,340 | $153,340 ▲ | $75,967 | $-71/d | BE $270.20 (+14%) CC-Safe ▾ | $+348,466 | |
| Dec '28 (917d) | +$170C −$260P +$220P | 17 | +0.973/sh | +1,655 | $143,480 | $211,480 ▲ | $80,091 | $-55/d | BE $257.20 (+8%) CC-Safe ▾ | $+375,326 |
Margin = real IBKR portfolio (TIMS) maintenance margin from a whatIf order on the 3-leg open combo (BUY LC / SELL SP / BUY HP), the same engine TWS shows. This is the ongoing capital held; the one-time initial requirement to open is higher. Stored at the analyzed contract count and rescaled linearly by the dropdown (TIMS has mild concentration non-linearity, so verify the exact figure in TWS before sizing). For net-long Bucket A synthetics this runs well above the old Reg-T put-spread width, which ignored the long call's directional risk.
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-99,195 | -175% |
| -25% | $178.19 | $-99,195 | -175% |
| +0% | $237.59 | $-39,389 | -69% |
| +25% | $296.99 | $+82,684 | +146% |
| +50% | $356.38 | $+183,660 | +324% |
| +75% | $415.78 | $+284,635 | +502% |
| +100% | $475.18 | $+385,611 | +680% |
| +125% | $534.58 | $+486,587 | +858% |
| +150% | $593.98 | $+587,562 | +1036% |
| +175% | $653.37 | $+688,538 | +1214% |
| +200% | $712.77 | $+789,514 | +1393% |
| +225% | $772.17 | $+890,490 | +1571% |
| +250% | $831.57 | $+991,466 | +1749% |
| +275% | $890.96 | $+1,092,441 | +1927% |
| +300% | $950.36 | $+1,193,417 | +2105% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-112,710 | -161% |
| -25% | $178.19 | $-112,710 | -161% |
| +0% | $237.59 | $-61,404 | -87% |
| +25% | $296.99 | $+77,669 | +111% |
| +50% | $356.38 | $+178,644 | +254% |
| +75% | $415.78 | $+279,620 | +398% |
| +100% | $475.18 | $+380,596 | +542% |
| +125% | $534.58 | $+481,572 | +686% |
| +150% | $593.98 | $+582,548 | +830% |
| +175% | $653.37 | $+683,523 | +974% |
| +200% | $712.77 | $+784,499 | +1117% |
| +225% | $772.17 | $+885,475 | +1261% |
| +250% | $831.57 | $+986,451 | +1405% |
| +275% | $890.96 | $+1,087,426 | +1549% |
| +300% | $950.36 | $+1,188,402 | +1693% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-113,305 | -182% |
| -25% | $178.19 | $-113,305 | -182% |
| +0% | $237.59 | $-61,999 | -100% |
| +25% | $296.99 | $+77,074 | +124% |
| +50% | $356.38 | $+178,050 | +286% |
| +75% | $415.78 | $+279,025 | +448% |
| +100% | $475.18 | $+380,001 | +610% |
| +125% | $534.58 | $+480,977 | +772% |
| +150% | $593.98 | $+581,952 | +934% |
| +175% | $653.37 | $+682,928 | +1096% |
| +200% | $712.77 | $+783,904 | +1258% |
| +225% | $772.17 | $+884,880 | +1420% |
| +250% | $831.57 | $+985,856 | +1582% |
| +275% | $890.96 | $+1,086,831 | +1744% |
| +300% | $950.36 | $+1,187,807 | +1906% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-120,105 | -155% |
| -25% | $178.19 | $-120,105 | -155% |
| +0% | $237.59 | $-85,799 | -111% |
| +25% | $296.99 | $+53,274 | +69% |
| +50% | $356.38 | $+154,250 | +199% |
| +75% | $415.78 | $+255,225 | +329% |
| +100% | $475.18 | $+356,201 | +459% |
| +125% | $534.58 | $+457,177 | +589% |
| +150% | $593.98 | $+558,152 | +719% |
| +175% | $653.37 | $+659,128 | +849% |
| +200% | $712.77 | $+760,104 | +979% |
| +225% | $772.17 | $+861,080 | +1110% |
| +250% | $831.57 | $+962,056 | +1240% |
| +275% | $890.96 | $+1,063,031 | +1370% |
| +300% | $950.36 | $+1,164,007 | +1500% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-130,305 | -164% |
| -25% | $178.19 | $-130,305 | -164% |
| +0% | $237.59 | $-53,499 | -67% |
| +25% | $296.99 | $+51,574 | +65% |
| +50% | $356.38 | $+152,550 | +192% |
| +75% | $415.78 | $+253,525 | +320% |
| +100% | $475.18 | $+354,501 | +447% |
| +125% | $534.58 | $+455,477 | +574% |
| +150% | $593.98 | $+556,452 | +702% |
| +175% | $653.37 | $+657,428 | +829% |
| +200% | $712.77 | $+758,404 | +956% |
| +225% | $772.17 | $+859,380 | +1084% |
| +250% | $831.57 | $+960,356 | +1211% |
| +275% | $890.96 | $+1,061,331 | +1338% |
| +300% | $950.36 | $+1,162,307 | +1466% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-153,340 | -150% |
| -25% | $178.19 | $-153,340 | -150% |
| +0% | $237.59 | $-93,534 | -91% |
| +25% | $296.99 | $+45,539 | +44% |
| +50% | $356.38 | $+146,514 | +143% |
| +75% | $415.78 | $+247,490 | +242% |
| +100% | $475.18 | $+348,466 | +340% |
| +125% | $534.58 | $+449,442 | +439% |
| +150% | $593.98 | $+550,418 | +538% |
| +175% | $653.37 | $+651,393 | +636% |
| +200% | $712.77 | $+752,369 | +735% |
| +225% | $772.17 | $+853,345 | +834% |
| +250% | $831.57 | $+954,321 | +933% |
| +275% | $890.96 | $+1,055,296 | +1031% |
| +300% | $950.36 | $+1,156,272 | +1130% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-211,480 | -147% |
| -25% | $178.19 | $-197,553 | -138% |
| +0% | $237.59 | $-66,674 | -46% |
| +25% | $296.99 | $+72,399 | +50% |
| +50% | $356.38 | $+173,374 | +121% |
| +75% | $415.78 | $+274,350 | +191% |
| +100% | $475.18 | $+375,326 | +262% |
| +125% | $534.58 | $+476,302 | +332% |
| +150% | $593.98 | $+577,278 | +402% |
| +175% | $653.37 | $+678,253 | +473% |
| +200% | $712.77 | $+779,229 | +543% |
| +225% | $772.17 | $+880,205 | +613% |
| +250% | $831.57 | $+981,180 | +684% |
| +275% | $890.96 | $+1,082,156 | +754% |
| +300% | $950.36 | $+1,183,132 | +825% |
Every chain's best Fortress sized to the SAME contract count for apples-to-apples capital / max-loss / margin comparison. Change the dropdown to resize. Tick up to 2 chains in the ☑ column to compare them side by side. Structure: + = bought (long), − = sold (short). Click any BE & CC-Safe cell to open that chain's CC-Safe Strike card.
★ Score = (Weighted P&L ÷ Max Loss) × horizon-fit. Weighted P&L = expected expiry dollars across a weighted scenario basket. Convexity basket (Bucket B weights): +75% and +100% carry the biggest weight, +200% tail counted, downside (-20% / flat) lightly weighted — rewards OTM structures that pay big on a strong move. ÷ Max Loss turns it into return-per-dollar-at-risk (capital efficiency, so a deeper/longer structure is not rewarded just for costing more). × horizon-fit peaks in the 1-2yr window (365-730 DTE) and tapers outside it, keeping the pick inside the thesis horizon. All three terms are size-invariant, so the ★ does not move when you change the contract count.
| ☑ | Chain | Structure | Ct | Delta | Sh Eqv | IC | ML | Margin | Theta | BE & CC-Safe | PnL @ +100% |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar '27 (280d) | +$340C −$265P +$240P | 54 | +0.332/sh | +1,793 | $-36,180 | $98,820 | $84,637 | $-254/d | BE $333.30 (+40%) CC-Safe ▾ | $+766,152 | |
| Jun '27 (370d) ★ | +$340C −$270P +$245P | 54 | +0.373/sh | +2,017 | $-12,420 | $122,580 ▲ | $101,931 | $-258/d | BE $337.70 (+42%) CC-Safe ▾ | $+742,392 | |
| Jul '27 (399d) | +$345C −$270P +$245P | 54 | +0.372/sh | +2,011 | $-12,690 | $122,310 ▲ | $103,134 | $-251/d | BE $342.65 (+44%) CC-Safe ▾ | $+715,662 | |
| Dec '27 (553d) | +$340C −$265P +$240P | 54 | +0.444/sh | +2,399 | $38,880 | $173,880 ▲ | $132,924 | $-240/d | BE $347.20 (+46%) CC-Safe ▾ | $+691,092 | |
| Jan '28 (588d) | +$310C −$270P +$240P | 54 | +0.547/sh | +2,956 | $62,640 | $224,640 ▲ | $166,198 | $-266/d | BE $321.60 (+35%) CC-Safe ▾ | $+829,332 | |
| Jun '28 (735d) | +$280C −$270P +$240P | 54 | +0.648/sh | +3,501 | $174,150 | $336,150 ▲ | $205,473 | $-247/d | BE $312.25 (+31%) CC-Safe ▾ | $+879,822 | |
| Dec '28 (917d) | +$290C −$270P +$240P | 54 | +0.656/sh | +3,543 | $195,480 | $357,480 ▲ | $213,797 | $-230/d | BE $326.20 (+37%) CC-Safe ▾ | $+804,492 |
Margin = real IBKR portfolio (TIMS) maintenance margin from a whatIf order on the 3-leg open combo (BUY LC / SELL SP / BUY HP), the same engine TWS shows. This is the ongoing capital held; the one-time initial requirement to open is higher. Stored at the analyzed contract count and rescaled linearly by the dropdown (TIMS has mild concentration non-linearity, so verify the exact figure in TWS before sizing). For net-long Bucket A synthetics this runs well above the old Reg-T put-spread width, which ignored the long call's directional risk.
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-98,820 | +0% |
| -25% | $178.19 | $-98,820 | +0% |
| +0% | $237.59 | $-98,820 | +0% |
| +25% | $296.99 | $+36,180 | +0% |
| +50% | $356.38 | $+124,659 | +0% |
| +75% | $415.78 | $+445,406 | +0% |
| +100% | $475.18 | $+766,152 | +0% |
| +125% | $534.58 | $+1,086,898 | +0% |
| +150% | $593.98 | $+1,407,645 | +0% |
| +175% | $653.37 | $+1,728,392 | +0% |
| +200% | $712.77 | $+2,049,138 | +0% |
| +225% | $772.17 | $+2,369,884 | +0% |
| +250% | $831.57 | $+2,690,631 | +0% |
| +275% | $890.96 | $+3,011,378 | +0% |
| +300% | $950.36 | $+3,332,124 | +0% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-122,580 | +0% |
| -25% | $178.19 | $-122,580 | +0% |
| +0% | $237.59 | $-122,580 | +0% |
| +25% | $296.99 | $+12,420 | +0% |
| +50% | $356.38 | $+100,899 | +0% |
| +75% | $415.78 | $+421,646 | +0% |
| +100% | $475.18 | $+742,392 | +0% |
| +125% | $534.58 | $+1,063,138 | +0% |
| +150% | $593.98 | $+1,383,885 | +0% |
| +175% | $653.37 | $+1,704,632 | +0% |
| +200% | $712.77 | $+2,025,378 | +0% |
| +225% | $772.17 | $+2,346,124 | +0% |
| +250% | $831.57 | $+2,666,871 | +0% |
| +275% | $890.96 | $+2,987,618 | +0% |
| +300% | $950.36 | $+3,308,364 | +0% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-122,310 | +0% |
| -25% | $178.19 | $-122,310 | +0% |
| +0% | $237.59 | $-122,310 | +0% |
| +25% | $296.99 | $+12,690 | +0% |
| +50% | $356.38 | $+74,169 | +0% |
| +75% | $415.78 | $+394,916 | +0% |
| +100% | $475.18 | $+715,662 | +0% |
| +125% | $534.58 | $+1,036,408 | +0% |
| +150% | $593.98 | $+1,357,155 | +0% |
| +175% | $653.37 | $+1,677,902 | +0% |
| +200% | $712.77 | $+1,998,648 | +0% |
| +225% | $772.17 | $+2,319,394 | +0% |
| +250% | $831.57 | $+2,640,141 | +0% |
| +275% | $890.96 | $+2,960,888 | +0% |
| +300% | $950.36 | $+3,281,634 | +0% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-173,880 | -447% |
| -25% | $178.19 | $-173,880 | -447% |
| +0% | $237.59 | $-173,880 | -447% |
| +25% | $296.99 | $-38,880 | -100% |
| +50% | $356.38 | $+49,599 | +128% |
| +75% | $415.78 | $+370,346 | +953% |
| +100% | $475.18 | $+691,092 | +1777% |
| +125% | $534.58 | $+1,011,838 | +2602% |
| +150% | $593.98 | $+1,332,585 | +3427% |
| +175% | $653.37 | $+1,653,332 | +4252% |
| +200% | $712.77 | $+1,974,078 | +5077% |
| +225% | $772.17 | $+2,294,824 | +5902% |
| +250% | $831.57 | $+2,615,571 | +6727% |
| +275% | $890.96 | $+2,936,318 | +7552% |
| +300% | $950.36 | $+3,257,064 | +8377% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-224,640 | -359% |
| -25% | $178.19 | $-224,640 | -359% |
| +0% | $237.59 | $-224,640 | -359% |
| +25% | $296.99 | $-62,640 | -100% |
| +50% | $356.38 | $+187,839 | +300% |
| +75% | $415.78 | $+508,586 | +812% |
| +100% | $475.18 | $+829,332 | +1324% |
| +125% | $534.58 | $+1,150,078 | +1836% |
| +150% | $593.98 | $+1,470,825 | +2348% |
| +175% | $653.37 | $+1,791,572 | +2860% |
| +200% | $712.77 | $+2,112,318 | +3372% |
| +225% | $772.17 | $+2,433,064 | +3884% |
| +250% | $831.57 | $+2,753,811 | +4396% |
| +275% | $890.96 | $+3,074,558 | +4908% |
| +300% | $950.36 | $+3,395,304 | +5420% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-336,150 | -193% |
| -25% | $178.19 | $-336,150 | -193% |
| +0% | $237.59 | $-336,150 | -193% |
| +25% | $296.99 | $-82,417 | -47% |
| +50% | $356.38 | $+238,329 | +137% |
| +75% | $415.78 | $+559,076 | +321% |
| +100% | $475.18 | $+879,822 | +505% |
| +125% | $534.58 | $+1,200,568 | +689% |
| +150% | $593.98 | $+1,521,315 | +874% |
| +175% | $653.37 | $+1,842,062 | +1058% |
| +200% | $712.77 | $+2,162,808 | +1242% |
| +225% | $772.17 | $+2,483,554 | +1426% |
| +250% | $831.57 | $+2,804,301 | +1610% |
| +275% | $890.96 | $+3,125,048 | +1794% |
| +300% | $950.36 | $+3,445,794 | +1979% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $118.80 | $-357,480 | -183% |
| -25% | $178.19 | $-357,480 | -183% |
| +0% | $237.59 | $-357,480 | -183% |
| +25% | $296.99 | $-157,747 | -81% |
| +50% | $356.38 | $+162,999 | +83% |
| +75% | $415.78 | $+483,746 | +247% |
| +100% | $475.18 | $+804,492 | +412% |
| +125% | $534.58 | $+1,125,238 | +576% |
| +150% | $593.98 | $+1,445,985 | +740% |
| +175% | $653.37 | $+1,766,732 | +904% |
| +200% | $712.77 | $+2,087,478 | +1068% |
| +225% | $772.17 | $+2,408,224 | +1232% |
| +250% | $831.57 | $+2,728,971 | +1396% |
| +275% | $890.96 | $+3,049,718 | +1560% |
| +300% | $950.36 | $+3,370,464 | +1724% |