| If stock is | Price | Structure value | P&L (value − IC) |
|---|---|---|---|
| +0% vs spot | $10.09 | $7,916 | $-12,034 |
| +99% vs spot | $20.04 | $51,661 | $+31,711 |
| +148% vs spot | $25.02 | $75,413 | $+55,462 |
| TARGET | $30.00 | $99,493 | $+79,543 |
| +247% vs spot | $34.98 | $123,722 | $+103,771 |
Each row: what CIFR Dec '28 is worth on the target date (197d / 6.6mo of life still left) if the stock lands at that price. Mid-life Black-Scholes marks (leg IV: LC 88%, SP 85%, HP 84%, implied from each leg’s own quote when the feed gave iv=0), so time value / roll-room is retained — not expiry intrinsic. P&L = value minus what you paid to open (IC $19,950).
Ranked #1 of 176 valid structures by value at target per dollar of max loss (size-invariant). Score = value-at-target / ml × roll-room shaping.
| # | Structure | Expiry | Ct | Max Loss | BE | Value @ Target | ROI | Roll-room | Min OI | Score |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | +$8C −$10P +$8P | Dec-28 (791d) | 44 | $29,394 | $13 | $97,476 | 262% | 6.6mo | 46 | 3.316 |
| 3 | +$10C −$5P +$3P | Dec-28 (791d) | 48 | $29,678 | $14 | $97,929 | 262% | 6.6mo | 20 | 3.300 |
| 4 | +$8C −$5P +$3P | Dec-28 (791d) | 44 | $29,885 | $13 | $97,906 | 257% | 6.6mo | 20 | 3.276 |
| 5 | +$13C −$10P +$8P | Dec-28 (791d) | 55 | $29,870 | $16 | $97,211 | 262% | 6.6mo | 46 | 3.254 |
| 6 | +$13C −$5P +$3P | Dec-28 (791d) | 54 | $29,930 | $17 | $95,970 | 257% | 6.6mo | 20 | 3.207 |