LEAPS Builder v5.8
CIFR $25,000 [otm] | 2026-05-04 12:55:44
THESIS GUIDE: which tool fits which trade?
| When you want | Use | Key trade-off |
|---|
| Capture explosive upside (high-conviction breakout) | leap_builder Bucket A (this tool, :itm) | Pay LC + HP premium upfront. No income. Max delta per dollar at risk. |
| Lottery ticket on a moonshot move | leap_builder Bucket B (this tool, :otm) | Smaller entry. High theta decay. Can lose 100% if move does not materialize in time. |
| Generate monthly income while moderately bullish | fortress_v26 (DIAMOND, PIONEER) | Caps upside via SC. HP rolls 6+ times over LC life. |
| Ride breakout, collect income kicker | leap_builder Bucket A with --cc-overlay | Caps near-term upside per cycle. Stop selling SC at breakout start. |
CIFR @ $18.60
Sizing: $25,000 (OTM Only) | Chains: Jan 2028 (636d), Jun 2028 (783d)
Bucket B: OTM Max Leverage ($25,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | IC | BE | Theta | Score |
|---|
| ★ | Jan '28 (636d) | Fortress | $17C/$20P/$10P | 16 | $8,720 | $22.45 (+21%) | $-7/d | 25,528 |
| Jan '28 (636d) | Pure | $17C | 24 | $24,960 | $27.40 (+47%) | $-14/d | 23,470 |
| Jun '28 (783d) | Fortress | $17C/$20P/$10P | 13 | $11,570 | $25.90 (+39%) | $-5/d | 16,445 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
Best Fortress: $17C / $20P / $10P (Jan '28, 636d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $17.0C | $10.40 | +0.772 |
| SP | SELL | $20.0P | $7.85 | -0.283 |
| HP | BUY | $10.0P | $2.90 | +0.123 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 16 | $8,720 | $24,720 |
$22.45 (+21%) | $-7/d |
3.4x | 25,528 | +271% |
Verdict: FORTRESS PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score (WSPL) | 25,528 | 23,470 | FORT (+9%) |
| Contracts | 16 | 24 | PURE (-33%) |
| IC (capital) | $8,720 | $24,960 | FORT (-65%) |
| Max Loss | $24,720 | $24,960 | FORT (-1%) |
| Breakeven | $22.45 | $27.40 | FORT (-18%) |
| Theta/day | $-7 | $-14 | FORT (-51%) |
| ROIC@+25% | 15% | -40% | FORT (+137%) |
Fortress scores +9% with similar max loss (-1%). Clear winner.
P&L Comparison
| Move | Price | Fortress 16ct Jan'28 | Pure 24ct Jan'28 | Diff | Winner |
|---|
| -19% | $15 | $-16,912 | $-24,960 | $+8,048 | (Fort) |
| +0% | $19 | $-8,400 | $-21,120 | $+12,720 | (Fort) |
| +25% | $23 | $+1,280 | $-9,960 | $+11,240 | (Fort) |
| +50% | $28 | $+8,720 | $+1,200 | $+7,520 | (Fort) |
| +75% | $33 | $+16,160 | $+12,360 | $+3,800 | (Fort) |
| +100% | $37 | $+23,600 | $+23,520 | $+80 | (Fort) |
| +200% | $56 | $+53,360 | $+68,160 | $-14,800 | (Pure) |
LEAPS Builder v5.8 | 2026-05-04 12:55:44