LEAPS Builder --all v6.0

COPX | 2026-05-13 22:10:44
All three modes (NORMAL + BREAKOUT + YOLO) on one page. Master Verdict summarizes; expand the per-mode sections below for full dashboards.

Master Verdict (--all)

Ticker Use Case Mode Best Pick Score Breakeven Lev Theta/day Verdict
COPX Stock replacement (1-2yr) NORMAL $65C/$90P/$68P × 19ct
Jan '28		 96,562 $95.10 (+4%) 3.0x $-41/d FORTRESS_PREFERRED
COPX Moderate-bull (1-2yr) NORMAL $95C/$90P/$80P × 31ct
Jan '28		 217,998 $117.20 (+28%) 4.1x $-67/d FORTRESS_PREFERRED
COPX Active 6mo+ directional BREAKOUT $80C/$97P/$87P × 37ct
Oct '26		 1.2989 $97.00 (+6%) 5.4x $-80/d PURE_PREFERRED
COPX 3-4x thesis (2yr) YOLO $145C/$90P/$80P × 48ct
Jan '28		 816,283 $155.70 (+70%) 8.5x $-103/d PURE_PREFERRED

Score scales differ by mode: NORMAL/YOLO use WSPL (large integer, mode-specific weights); BREAKOUT uses sigma-weighted reward/risk (decimal). Don't compare scores across modes — compare WITHIN each row's column. Click any row to expand its full dashboard panel below.

COPX — All Modes

NORMAL — Stock replacement (Bucket A, deep ITM)

COPX @ $91.39

Sizing: $100,000 (ITM + OTM) | Chains: Jan 2028 (618d)
NORMAL MODE — Bucket A (Deep ITM, LC 40-95% of stock, delta ≥ 0.70) for synthetic stock replacement; Bucket B (OTM/ATM, LC 90-200%) for max leverage / convexity. Score = WSPL × √(DTE/365); Bucket A weights peak at +25-75% (moderate-bull view), Bucket B peaks at +75-100% (convexity payoff). Designed for hold-to-expiry LEAPS positions.

Bucket A: Deep ITM Stock Replacement ($100,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
★Jan '28 (618d)Fortress$65C/$90P/$68P19+0.281/sh (+534)$57,184$95.10 (+4%)$-41/d96,562
▲Jan '28 (618d)Pure$73C29+0.771/sh (+2,235)$99,760$107.40 (+18%)$-54/d106,269

★ = recommended pick (per Verdict below; multi-dim winner across score, capital, BE, theta, ROIC). Score = WSPL x sqrt(DTE/365). Positive theta = you collect time decay daily (paid to wait). Negative theta = you pay time decay daily (cost of holding long options).

Best Fortress: $65C / $90P / $68P (Jan '28, 618d)

LegActionStrikePriceDelta
LCBUY$65.0C$38.70+0.821
SPSELL$90.0P$19.70-0.344
HPBUY$68.0P$11.10-0.197
CtDeltaICMLBEThetaLevScoreROIC
19 +0.281/sh (+534) $57,184$98,984 $95.10 (+4%)$-41/d 3.0x96,562+291%

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$65C / $90P / $68P
19 contracts · Jan '28 (618d)		 $73C
29 contracts · Jan '28 (618d)
Score96,562106,269PURE (-9%)
Contracts1929PURE (-34%)
IC (capital)$57,184$99,760FORT (-43%)
Max Loss$98,984$99,760FORT (-1%)
Breakeven$95.10$107.40FORT (-11%)
Theta/day$-41$-54FORT (-23%)
ROIC (weighted)130%82%FORT (+59%)

Score gap is small (9%). Fortress wins 4/4 efficiency dims. Build the fortress for capital efficiency.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 19ctPure 29ctStock 1,094sh
-5%$86.82-$2,440-$10,214-$4,999
-10%$82.25-$4,880-$20,428-$9,998
-15%$77.68-$7,320-$30,642-$14,997
-20%$73.11-$9,760-$40,856-$19,996
-30%$63.97-$14,641-$61,284-$29,994

Loss = |net_delta_total * stock_price * stop_pct|. Delta-only first-order estimate; ignores vega/theta. Conservative (LOW-end) — real MTM loss is typically 10-30% larger due to extrinsic compression on a fast move.

P&L Comparison

MovePriceFortress 19ct Jan'28Pure 29ct Jan'28F-P DiffWinner
-19%$73$-73,859$-99,435$+25,576(Fort)
+0%$91$-7,043$-46,429$+39,386(Fort)
+25%$114$+36,367$+19,829$+16,538(Fort)
+50%$137$+79,777$+86,087$-6,309(Pure)
+75%$160$+123,187$+152,344$-29,157(Pure)
+100%$183$+166,598$+218,602$-52,004(Pure)
+200%$274$+340,239$+483,633$-143,394(Pure)
Weighted—$+74,209$+81,669$-7,460(Pure)

How to read the Weighted row: your expected dollar P&L if all the scenarios above played out, with each weighted by how much it matters for this mode. Stock replacement view: small moves matter most. +25% gets the biggest weight, then +50% / +75%. -20% and flat both count (they hurt the score). The Score is this same number multiplied by √(DTE/365) so longer-dated chains get a small bonus.

CC Overlay

No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.

NORMAL — Moderate-bull (Bucket B, OTM/ATM)

COPX @ $91.39

Sizing: $100,000 (ITM + OTM) | Chains: Jan 2028 (618d)
NORMAL MODE — Bucket A (Deep ITM, LC 40-95% of stock, delta ≥ 0.70) for synthetic stock replacement; Bucket B (OTM/ATM, LC 90-200%) for max leverage / convexity. Score = WSPL × √(DTE/365); Bucket A weights peak at +25-75% (moderate-bull view), Bucket B peaks at +75-100% (convexity payoff). Designed for hold-to-expiry LEAPS positions.

Bucket B: OTM Max Leverage ($100,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
★Jan '28 (618d)Fortress$95C/$90P/$80P31+0.575/sh (+1,783)$68,811$117.20 (+28%)$-67/d217,998
▲Jan '28 (618d)Pure$95C40+0.637/sh (+2,548)$100,000$120.00 (+31%)$-89/d268,867

★ = recommended pick (per Verdict below; multi-dim winner across score, capital, BE, theta, ROIC). Score = WSPL x sqrt(DTE/365). Positive theta = you collect time decay daily (paid to wait). Negative theta = you pay time decay daily (cost of holding long options).

Best Fortress: $95C / $90P / $80P (Jan '28, 618d)

LegActionStrikePriceDelta
LCBUY$95.0C$25.00+0.637
SPSELL$90.0P$19.70-0.344
HPBUY$80.0P$16.90+0.282
CtDeltaICMLBEThetaLevScoreROIC
31 +0.575/sh (+1,783) $68,811$99,811 $117.20 (+28%)$-67/d 4.1x217,998+295%

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$95C / $90P / $80P
31 contracts · Jan '28 (618d)		 $95C
40 contracts · Jan '28 (618d)
Score217,998268,867PURE (-19%)
Contracts3140PURE (-22%)
IC (capital)$68,811$100,000FORT (-31%)
Max Loss$99,811$100,000TIE
Breakeven$117.20$120.00FORT (-2%)
Theta/day$-67$-89FORT (-25%)
ROIC (weighted)243%207%FORT (+18%)

Pure scores +19% on raw P&L from extra contracts. Fortress wins 4/4 efficiency dims (IC, BE, theta, ROIC). Trade 19% score for capital efficiency.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 31ctPure 40ctStock 1,094sh
-5%$86.82-$8,146-$11,644-$4,999
-10%$82.25-$16,291-$23,288-$9,998
-15%$77.68-$24,437-$34,932-$14,997
-20%$73.11-$32,582-$46,576-$19,996
-30%$63.97-$48,873-$69,865-$29,994

Loss = |net_delta_total * stock_price * stop_pct|. Delta-only first-order estimate; ignores vega/theta. Conservative (LOW-end) — real MTM loss is typically 10-30% larger due to extrinsic compression on a fast move.

P&L Comparison

MovePriceFortress 31ct Jan'28Pure 40ct Jan'28F-P DiffWinner
-19%$73$-99,811$-100,000$+189(Fort)
+0%$91$-68,811$-100,000$+31,189(Fort)
+25%$114$-9,174$-23,050$+13,876(Fort)
+50%$137$+61,653$+68,340$-6,687(Pure)
+75%$160$+132,480$+159,730$-27,250(Pure)
+100%$183$+203,307$+251,120$-47,813(Pure)
+200%$274$+486,616$+616,680$-130,064(Pure)
Weighted—$+167,535$+206,628$-39,094(Pure)

How to read the Weighted row: your expected dollar P&L if all the scenarios above played out, with each weighted by how much it matters for this mode. Convexity view: bigger moves matter most. +75% and +100% get the biggest weights. Tail at +200% counted; downside lightly weighted. The Score is this same number multiplied by √(DTE/365) so longer-dated chains get a small bonus.

BREAKOUT — Active 6mo+ directional

COPX @ $91.39

Sizing: $100,000 (Deep ITM Only) | Chains: Jul 2026 (65d), Sep 2026 (128d), Oct 2026 (156d), Jan 2027 (247d), Jan 2028 (618d)
BREAKOUT MODE — Bucket A only (deep ITM stock replacement) over a 6-month horizon. Score = (weighted P&L across sigma-scaled targets at 0.5/1.0/1.5/2.0/3.0σ of expected move (+18%, +37%, +55%, +73%, +110%; ATM IV 52%)) ÷ reward / max-loss + theta-cost, multiplied by time-fit. Stock baseline shown alongside Fortress and Pure for risk-budget comparison. Use for active directional trades; the Score Breakdown and Stop Profile cards below show per-target P&L and stop loss.

Breakout Mode: 6-month horizon, sigma-targets: +18%, +37%, +55%, +73%, +110% (IV 52%) ($100,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
Jul '26 (65d)Fortress$82C/$100P/$90P52+0.548/sh (+2,850)$47,840$95.60 (+5%)$-319/d0.7990
Sep '26 (128d)Fortress$80C/$97P/$87P39+0.590/sh (+2,300)$60,060$96.20 (+5%)$-158/d1.10
◆Oct '26 (156d)Fortress$80C/$97P/$87P37+1.635/sh (+6,048)$62,900$97.00 (+6%)$-80/d1.30
★Oct '26 (156d)Pure$80C51+0.725/sh (+3,696)$99,450$99.50 (+9%)$-191/d1.47
Jan '27 (247d)Fortress$80C/$100P/$90P34+0.618/sh (+2,103)$63,920$99.40 (+9%)$-101/d1.28
Jan '28 (618d)Fortress$65C/$90P/$70P19+0.695/sh (+1,321)$59,084$96.10 (+5%)$-28/d0.8629
●NowStock1,094 sh @ $91.391,094+1.000/sh (+1,094)$99,981$91.39 (+0%)$0/d0.5593

★ = top breakout score across Fortress, Pure, Stock. ◆ = best Fortress (when not winner). ▲ = best Pure (when not winner). ● = Stock baseline reference. Read in light of Score Breakdown + Stop Profile. Positive theta = you collect time decay daily (paid to wait). Negative theta = you pay time decay daily (cost of holding long options).

Best Fortress: $80C / $97P / $87P (Oct '26, 156d)

LegActionStrikePriceDelta
LCBUY$80.0C$19.50+0.725
SPSELL$97.0P$13.40+0.541
HPBUY$87.0P$10.90+0.369
CtDeltaICMLBEThetaLevScoreROIC
37 +1.635/sh (+6,048) $62,900$99,900 $97.00 (+6%)$-80/d 5.4x1.30+505%

Verdict: PURE PREFERRED

Dimension Fortress Pure Winner
$80C / $97P / $87P
37 contracts · Oct '26 (156d)		 $80C
51 contracts · Oct '26 (156d)
Score1.301.47PURE (-12%)
Contracts3751PURE (-27%)
IC (capital)$62,900$99,450FORT (-37%)
Max Loss$99,900$99,450TIE
Breakeven$97.00$99.50FORT (-3%)
Theta/day$-80$-191FORT (-58%)
ROIC (weighted)268%221%FORT (+21%)

Pure scores 12% higher on breakout score (sigma-weighted (5 targets at 0.5-3sigma of expected move), expiry P&L net of theta over 6-month hold). Fortress remains capital-efficient (see dimensions); see Score Breakdown below for per-target P&L.

Score Breakdown (sigma-weighted (5 targets at 0.5-3sigma))

sigmaMovePriceWeight Fortress 37ctPure 51ctStock 1,094shWinner
0.5sigma+18%$108.1515%$+41,254$+44,114$+18,335(Pure)
1sigma+37%$124.9120%$+103,265$+129,589$+36,670(Pure)
1.5sigma+55%$141.6730%$+165,277$+215,064$+55,006(Pure)
2sigma+73%$158.4325%$+227,288$+300,539$+73,341(Pure)
3sigma+110%$191.9510%$+351,310$+471,489$+110,011(Pure)
Weighted average P&L100% $+168,377 $+219,338 $+55,922 (Pure)

Each row is the at-expiry P&L if the stock lands at the target price. Score = (weighted-avg P&L) / (max-loss + theta-cost-over-hold) * time-fit. Read this table to override the score winner if your conviction favors a specific scenario row.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 37ctPure 51ctStock 1,094sh
-5%$86.82-$27,638-$16,887-$4,999
-10%$82.25-$55,276-$33,774-$9,998
-15%$77.68-$82,914-$50,661-$14,997
-20%$73.11-$110,552-$67,548-$19,996
-30%$63.97-$165,828-$101,322-$29,994

Loss = |net_delta_total * stock_price * stop_pct|. Delta-only first-order estimate; ignores vega/theta. Conservative (LOW-end) — real MTM loss is typically 10-30% larger due to extrinsic compression on a fast move.

P&L Comparison

MovePriceFortress 37ct Oct'26Pure 51ct Oct'26Stock 1,094shF-P DiffWinner
-19%$73$-99,900$-99,450$-19,996$-450(Stock)
+0%$91$-41,514$-41,361$0$-153(Stock)
+25%$114$+63,779$+75,161$+24,995$-11,383(Pure)
+50%$137$+148,315$+191,684$+49,990$-43,369(Pure)
+75%$160$+232,850$+308,206$+74,985$-75,356(Pure)
+100%$183$+317,386$+424,728$+99,981$-107,342(Pure)
+200%$274$+655,529$+890,817$+199,961$-235,288(Pure)
Weighted—$+168,377$+219,338$+55,922$-50,960(Pure)

How to read the Weighted row: your expected dollar P&L if all the scenarios above played out, with each weighted by how much it matters for this mode. Active directional view: targets at 0.5-3 sigma of expected move over the chosen horizon. 1.5-sigma carries the biggest weight (most likely breakout magnitude). The Score is this same number multiplied by √(DTE/365) so longer-dated chains get a small bonus.

YOLO — 3-4x thesis (2yr)

COPX @ $91.39

Sizing: $100,000 (OTM Only) | Chains: Jan 2028 (618d)
YOLO MODE — Bucket B widened to LC 95-300% and SP 30-130% of stock, tail-weighted scoring with peaks at +200% (3x) and +300% (4x). Bucket A is shown below as a context comparison; the YOLO play is the OTM section above. Use this only on names with strong directional conviction over a 2-year horizon.

YOLO Mode: Widened OTM (LC max 300% of stock, 3-4x thesis, 2yr horizon) ($100,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
◆Jan '28 (618d)Fortress$145C/$90P/$80P48+0.338/sh (+1,622)$51,346$155.70 (+70%)$-103/d816,283
★Jan '28 (618d)Pure$145C74+0.400/sh (+2,960)$99,900$158.50 (+73%)$-164/d1,233,915
●NowStock1,094 sh @ $91.391,094+1.000/sh (+1,094)$99,981$91.39 (+0%)$0/d293,326

★ = recommended pick (per Verdict below; multi-dim winner across score, capital, BE, theta, ROIC). ◆ = best Fortress (when not winner). ▲ = best Pure (when not winner). ● = Stock baseline reference. Score = WSPL x sqrt(DTE/365), tail-weighted for 3-4x thesis. Positive theta = you collect time decay daily (paid to wait). Negative theta = you pay time decay daily (cost of holding long options).

Best Fortress: $145C / $90P / $80P (Jan '28, 618d)

LegActionStrikePriceDelta
LCBUY$145.0C$13.50+0.400
SPSELL$90.0P$19.70-0.344
HPBUY$80.0P$16.90+0.282
CtDeltaICMLBEThetaLevScoreROIC
48 +0.338/sh (+1,622) $51,346$99,346 $155.70 (+70%)$-103/d 8.5x816,283+253%

Verdict: PURE PREFERRED

Dimension Fortress Pure Winner
$145C / $90P / $80P
48 contracts · Jan '28 (618d)		 $145C
74 contracts · Jan '28 (618d)
Score816,2831,233,915PURE (-34%)
Contracts4874PURE (-35%)
IC (capital)$51,346$99,900FORT (-49%)
Max Loss$99,346$99,900FORT (-1%)
Breakeven$155.70$158.50FORT (-2%)
Theta/day$-103$-164FORT (-37%)
ROIC (weighted)1222%949%FORT (+29%)

Pure scores +34% — too wide a gap to justify the 3-leg fortress complexity. Buy the pure call.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 48ctPure 74ctStock 1,094sh
-5%$86.82-$7,413-$13,526-$4,999
-10%$82.25-$14,827-$27,053-$9,998
-15%$77.68-$22,240-$40,579-$14,997
-20%$73.11-$29,653-$54,105-$19,996
-30%$63.97-$44,480-$81,158-$29,994

Loss = |net_delta_total * stock_price * stop_pct|. Delta-only first-order estimate; ignores vega/theta. Conservative (LOW-end) — real MTM loss is typically 10-30% larger due to extrinsic compression on a fast move.

P&L Comparison

MovePriceFortress 48ct Jan'28Pure 74ct Jan'28Stock 1,094shF-P DiffWinner
-19%$73$-99,346$-99,900$-19,996$+554(Stock)
+0%$91$-51,346$-99,900$0$+48,554(Stock)
+50%$137$-51,346$-99,900$+49,990$+48,554(Stock)
+100%$183$+129,998$+179,672$+99,981$-49,674(Pure)
+200%$274$+568,670$+855,958$+199,961$-287,288(Pure)
+300%$366$+1,007,342$+1,532,244$+299,942$-524,902(Pure)
+400%$457$+1,446,014$+2,208,530$+399,923$-762,516(Pure)
+700%$731$+2,762,030$+4,237,388$+699,865$-1,475,358(Pure)
+1000%$1,005$+4,078,046$+6,266,246$+999,807$-2,188,200(Pure)
Weighted—$+627,325$+948,282$+208,848$-320,956(Pure)

How to read the Weighted row: your expected dollar P&L if all the scenarios above played out, with each weighted by how much it matters for this mode. 3-4x thesis: huge moves matter most. +200% (3x) and +300% (4x) get the biggest weights. +400% counted as tail; +700% / +1000% rows shown above are eye candy and don't count. The Score is this same number multiplied by √(DTE/365) so longer-dated chains get a small bonus.

CC Overlay

No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.