LEAPS Builder v5.8
CIFR $25,000 [itm] | 2026-05-04 12:46:20
CIFR @ $18.60
Sizing: $25,000 (Deep ITM Only) | Chains: Jan 2028 (636d), Jun 2028 (783d)
Bucket A: Deep ITM Stock Replacement ($25,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | IC | BE | Theta | Score |
|---|
| ★ | Jan '28 (636d) | Fortress | $8C/$20P/$10P | 12 | $11,400 | $18.75 (+1%) | $-2/d | 15,030 |
| Jan '28 (636d) | Pure | $8C | 17 | $24,565 | $22.45 (+21%) | $-6/d | 11,534 |
| Jun '28 (783d) | Fortress | $8C/$20P/$8P | 10 | $12,250 | $20.25 (+9%) | $-1/d | 9,869 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
Best Fortress: $8C / $20P / $10P (Jan '28, 636d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $8.0C | $14.45 | +0.912 |
| SP | SELL | $20.0P | $7.85 | -0.283 |
| HP | BUY | $10.0P | $2.90 | +0.123 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 12 | $11,400 | $23,400 |
$18.75 (+1%) | $-2/d |
2.0x | 15,030 | +207% |
Verdict: FORTRESS PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score (WSPL) | 15,030 | 11,534 | FORT (+30%) |
| Contracts | 12 | 17 | PURE (-29%) |
| IC (capital) | $11,400 | $24,565 | FORT (-54%) |
| Max Loss | $23,400 | $24,565 | FORT (-5%) |
| Breakeven | $18.75 | $22.45 | FORT (-16%) |
| Theta/day | $-2 | $-6 | FORT (-64%) |
| ROIC@+25% | 61% | 6% | FORT (+993%) |
Fortress scores +30% with similar max loss (-5%). Clear winner.
P&L Comparison
| Move | Price | Fortress 12ct Jan'28 | Pure 17ct Jan'28 | Diff | Winner |
|---|
| -19% | $15 | $-9,288 | $-12,869 | $+3,581 | (Fort) |
| +0% | $19 | $-360 | $-6,545 | $+6,185 | (Fort) |
| +25% | $23 | $+6,900 | $+1,360 | $+5,540 | (Fort) |
| +50% | $28 | $+12,480 | $+9,265 | $+3,215 | (Fort) |
| +75% | $33 | $+18,060 | $+17,170 | $+890 | (Fort) |
| +100% | $37 | $+23,640 | $+25,075 | $-1,435 | (Pure) |
| +200% | $56 | $+45,960 | $+56,695 | $-10,735 | (Pure) |
CC Overlay
No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.
LEAPS Builder v5.8 | 2026-05-04 12:46:20