LEAPS Builder v6.0

HIMS $50,000 [both] | 2026-07-13 15:52:38

HIMS @ $34.10

Sizing: $50,000 (ITM + OTM) | Chains: Dec 2027 (522d), Jan 2028 (557d)
OFF-RTH DATA — 100% of strikes have no live streaming quote. Bid/ask in this dashboard is synthesized from last/close. Structure analysis (delta, P&L curve, score) is reliable; specific execution prices are NOT. Re-verify quotes at the moment of trade entry. Run during US RTH (09:30-16:00 ET) for live spreads.
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 ($50,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
★Dec '27 (522d) ↳Fortress$15C/$37P/$17P15+1.383/sh (+2,075)$19,783$32.59 (-4%)$+9/d38,066
▲Dec '27 (522d) ↳Pure$15C20+0.965/sh (+1,931)$48,237$39.12 (+15%)$-19/d27,417
Jan '28 (557d) ↳Fortress$15C/$37P/$15P14+1.390/sh (+1,946)$18,694$32.68 (-4%)$+7/d36,416

★ = recommended pick (per Verdict below; multi-dim winner across score, capital, BE, theta, ROIC). ◆ = best Fortress by raw score (when not the ★). Shows what the scorer would pick without --anchor, so you can see the anchor trade-off in the table itself. ▲ = best Pure by raw score (when not the ★). 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).

Compare Across Chains (click any chain to see this-chain-pick vs default ★ winner)

★ (default winner)Dec '27 (522d) — This IS the default ★ pick: Fortress 15ct $15C/$37P/$17P
This panel represents the current ★ default pick — the same structure shown in the Best Fortress card and Verdict above. Use other chain panels to see how alternates compare.
Jan '28 (557d) Fortress 14ct $15C/$37P/$15P  vs  ★ DEFAULT Dec '27 (522d) Fortress 15ct $15C/$37P/$17P
Dimension THIS: Jan '28 Fortress 14ct DEFAULT ★: Dec '27 Fortress 15ct Better
Score36,41638,066DEFAULT ★ (-4%)
Contracts1415DEFAULT ★ (-7%)
IC (capital)$18,694$19,783THIS (-6%)
Max Loss$49,494$49,783THIS (-1%)
Breakeven$32.68$32.59tie
Theta/day$7$9DEFAULT ★ (-17%)
Weighted P&L$29,479$31,831DEFAULT ★ (-7%)
ROIC (weighted)158%161%DEFAULT ★ (-2%)
DTE557522THIS (+7%)

Weighted P&L: THIS $+29,479  |  DEFAULT ★ $+31,831  |  diff $-2,352   → DEFAULT ★ pays $+2,352 more under this mode's weights.

Dim-by-dim: THIS wins 3, DEFAULT wins 5. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Best Fortress: $15C / $37P / $17P (Dec '27, 522d)

LegActionStrikePriceDelta
LCBUY$15.0C$24.12+0.965
SPSELL$37.0P$14.27+0.471
HPBUY$17.0P$3.34-0.053
CtDeltaICMLBEThetaLevScoreROIC
15 +1.383/sh (+2,075) $19,783$49,783 $32.59 (-4%)$+9/d 2.6x38,066+303%

CC-Safe Strike

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$15C / $37P / $17P
15 contracts · Dec '27 (522d)		 $15C
20 contracts · Dec '27 (522d)
Score38,06627,417FORT (+39%)
Contracts1520PURE (-25%)
IC (capital)$19,783$48,237FORT (-59%)
Max Loss$49,783$48,237PURE (+3%)
Breakeven$32.59$39.12FORT (-17%)
Theta/day$9$-19FORT (-55%)
ROIC (weighted)161%48%FORT (+239%)

Fortress scores +39% with similar max loss (+3%). Clear winner.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 15ctPure 20ctStock 1,466sh
-5%$32.40-$3,537-$3,292-$2,500
-10%$30.69-$7,075-$6,583-$4,999
-15%$28.98-$10,612-$9,875-$7,499
-20%$27.28-$14,149-$13,167-$9,998
-30%$23.87-$21,224-$19,750-$14,997

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 15ct Dec'27Pure 20ct Dec'27F-P DiffWinner
-19%$27$-15,943$-23,677$+7,734(Fort)
+0%$34$+4,517$-10,037$+14,554(Fort)
+25%$43$+21,655$+7,013$+14,642(Fort)
+50%$51$+34,442$+24,063$+10,379(Fort)
+75%$60$+47,230$+41,113$+6,117(Fort)
+100%$68$+60,017$+58,163$+1,854(Fort)
+200%$102$+111,167$+126,363$-15,196(Pure)
Weighted—$+31,831$+22,926$+8,905(Fort)

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.

Bucket B: OTM Max Leverage ($50,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
★Dec '27 (522d) ↳Fortress$33C/$37P/$23P23+0.958/sh (+2,203)$17,558$40.63 (+19%)$-42/d62,525
Jan '28 (557d) ↳Fortress$33C/$37P/$17P19+1.039/sh (+1,974)$11,665$39.14 (+15%)$-27/d56,862
▲Jan '28 (557d) ↳Pure$33C30+0.630/sh (+1,890)$49,550$49.52 (+45%)$-83/d53,274

★ = recommended pick (per Verdict below; multi-dim winner across score, capital, BE, theta, ROIC). ◆ = best Fortress by raw score (when not the ★). Shows what the scorer would pick without --anchor, so you can see the anchor trade-off in the table itself. ▲ = best Pure by raw score (when not the ★). 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).

Compare Across Chains (click any chain to see this-chain-pick vs default ★ winner)

★ (default winner)Dec '27 (522d) — This IS the default ★ pick: Fortress 23ct $33C/$37P/$23P
This panel represents the current ★ default pick — the same structure shown in the Best Fortress card and Verdict above. Use other chain panels to see how alternates compare.
Jan '28 (557d) Fortress 19ct $33C/$37P/$17P  vs  ★ DEFAULT Dec '27 (522d) Fortress 23ct $33C/$37P/$23P
Dimension THIS: Jan '28 Fortress 19ct DEFAULT ★: Dec '27 Fortress 23ct Better
Score56,86262,525DEFAULT ★ (-9%)
Contracts1923DEFAULT ★ (-17%)
IC (capital)$11,665$17,558THIS (-34%)
Max Loss$49,665$49,758tie
Breakeven$39.14$40.63THIS (-4%)
Theta/day$-27$-42THIS (+35%)
Weighted P&L$46,030$52,283DEFAULT ★ (-12%)
ROIC (weighted)395%298%THIS (+33%)
DTE557522THIS (+7%)

Weighted P&L: THIS $+46,030  |  DEFAULT ★ $+52,283  |  diff $-6,253   → DEFAULT ★ pays $+6,253 more under this mode's weights.

Dim-by-dim: THIS wins 5, DEFAULT wins 3. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Best Fortress: $33C / $37P / $23P (Dec '27, 522d)

LegActionStrikePriceDelta
LCBUY$33.0C$16.23+0.628
SPSELL$37.0P$14.27+0.471
HPBUY$23.0P$5.67-0.141
CtDeltaICMLBEThetaLevScoreROIC
23 +0.958/sh (+2,203) $17,558$49,758 $40.63 (+19%)$-42/d 4.5x62,525+361%

CC-Safe Strike

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$33C / $37P / $23P
23 contracts · Dec '27 (522d)		 $33C
30 contracts · Jan '28 (557d)
Score62,52553,274FORT (+17%)
Contracts2330PURE (-23%)
IC (capital)$17,558$49,550FORT (-65%)
Max Loss$49,758$49,550TIE
Breakeven$40.63$49.52FORT (-18%)
Theta/day$-42$-83FORT (-50%)
ROIC (weighted)298%87%FORT (+242%)

Fortress scores +17% with similar max loss (+0%). Clear winner.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 23ctPure 30ctStock 1,466sh
-5%$32.40-$3,756-$3,223-$2,500
-10%$30.69-$7,511-$6,446-$4,999
-15%$28.98-$11,267-$9,669-$7,499
-20%$27.28-$15,022-$12,892-$9,998
-30%$23.87-$22,534-$19,338-$14,997

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 23ct Dec'27Pure 30ct Jan'28F-P DiffWinner
-19%$27$-39,914$-49,550$+9,635(Fort)
+0%$34$-21,698$-46,249$+24,551(Fort)
+25%$43$+4,579$-20,674$+25,254(Fort)
+50%$51$+24,187$+4,901$+19,286(Fort)
+75%$60$+43,794$+30,476$+13,319(Fort)
+100%$68$+63,402$+56,051$+7,351(Fort)
+200%$102$+141,832$+158,351$-16,519(Pure)
Weighted—$+52,283$+43,126$+9,158(Fort)

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.

LEAPS Builder v6.0 | 2026-07-13 15:52:38