LEAPS Builder --all v6.0

MARA | 2026-06-04 01:17:41
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
MARA Stock replacement (1-2yr) NORMAL $10C/$15P/$10P × 80ct
Dec '28		 35,118 $17.40 (+25%) 1.9x $-20/d FORTRESS_PREFERRED
MARA Moderate-bull (1-2yr) NORMAL $15C/$15P/$10P × 97ct
Dec '28		 87,966 $20.25 (+46%) 2.6x $-31/d FORTRESS_PREFERRED
MARA Active 6mo+ directional BREAKOUT $10C/$15P/$10P × 80ct
Dec '28		 0.7628 $17.40 (+25%) 1.9x $-20/d STOCK_PREFERRED
MARA 3-4x thesis (2yr) YOLO $17C/$15P/$10P × 103ct
Dec '28		 350,979 $21.65 (+56%) 3.0x $-35/d FORTRESS_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.

MARA — All Modes

NORMAL — Stock replacement (Bucket A, deep ITM)

MARA @ $13.90

Sizing: $100,000 (ITM + OTM) | Chains: Jun 2027 (378d), Oct 2027 (498d), Nov 2027 (533d), Dec 2027 (561d), Jan 2028 (596d), Dec 2028 (925d)
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.  |  Anchored to Dec '28 (925d): all comparisons restricted to this chain. See Anchor Cost Analysis below.

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

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
Jun '27 (378d) ↳Fortress$10C/$15P/$8P92+0.593/sh (+5,457)$34,776$14.39 (+4%)$-33/d59,709
Oct '27 (498d) ↳Fortress$7C/$12P/$5P66+0.712/sh (+4,698)$53,064$15.04 (+8%)$-11/d42,439
Nov '27 (533d) ↳Fortress$10C/$15P/$5P74+0.565/sh (+4,179)$24,864$14.18 (+2%)$-16/d60,785
Dec '27 (561d) ↳Fortress$10C/$15P/$5P76+0.572/sh (+4,344)$23,864$14.07 (+1%)$-16/d66,120
◆Jan '28 (596d) ↳Fortress$10C/$15P/$5P76+0.584/sh (+4,437)$23,104$14.02 (+1%)$-15/d69,122
★Dec '28 (925d) ↳Fortress$10C/$15P/$10P80+0.755/sh (+6,038)$59,200$17.40 (+25%)$-20/d35,118
▲Dec '28 (925d) ↳Pure$10C100+0.843/sh (+8,427)$100,000$20.00 (+44%)$-29/d9,843

★ = 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).

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

Jun '27 (378d) Fortress 92ct $10C/$15P/$8P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Jun '27 Fortress 92ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score59,70935,118THIS (+70%)
Contracts9280THIS (+15%)
IC (capital)$34,776$59,200THIS (-41%)
Max Loss$99,176$99,200tie
Breakeven$14.39$17.40THIS (-17%)
Theta/day$-33$-20DEFAULT ★ (-68%)
Weighted P&L$58,673$22,060THIS (+166%)
ROIC (weighted)169%37%THIS (+353%)
DTE378d925dDEFAULT ★ (-59%)

Weighted P&L: THIS $+58,673  |  DEFAULT ★ $+22,060  |  diff $+36,613   → THIS pays $+36,613 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Oct '27 (498d) Fortress 66ct $7C/$12P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Oct '27 Fortress 66ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score42,43935,118THIS (+21%)
Contracts6680DEFAULT ★ (-18%)
IC (capital)$53,064$59,200THIS (-10%)
Max Loss$99,264$99,200tie
Breakeven$15.04$17.40THIS (-14%)
Theta/day$-11$-20THIS (+43%)
Weighted P&L$36,333$22,060THIS (+65%)
ROIC (weighted)68%37%THIS (+84%)
DTE498d925dDEFAULT ★ (-46%)

Weighted P&L: THIS $+36,333  |  DEFAULT ★ $+22,060  |  diff $+14,273   → THIS pays $+14,273 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Nov '27 (533d) Fortress 74ct $10C/$15P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Nov '27 Fortress 74ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score60,78535,118THIS (+73%)
Contracts7480DEFAULT ★ (-8%)
IC (capital)$24,864$59,200THIS (-58%)
Max Loss$98,864$99,200tie
Breakeven$14.18$17.40THIS (-19%)
Theta/day$-16$-20THIS (+20%)
Weighted P&L$50,302$22,060THIS (+128%)
ROIC (weighted)202%37%THIS (+443%)
DTE533d925dDEFAULT ★ (-42%)

Weighted P&L: THIS $+50,302  |  DEFAULT ★ $+22,060  |  diff $+28,242   → THIS pays $+28,242 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Dec '27 (561d) Fortress 76ct $10C/$15P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Dec '27 Fortress 76ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score66,12035,118THIS (+88%)
Contracts7680DEFAULT ★ (-5%)
IC (capital)$23,864$59,200THIS (-60%)
Max Loss$99,864$99,200DEFAULT ★ (+1%)
Breakeven$14.07$17.40THIS (-19%)
Theta/day$-16$-20THIS (+21%)
Weighted P&L$53,333$22,060THIS (+142%)
ROIC (weighted)223%37%THIS (+500%)
DTE561d925dDEFAULT ★ (-39%)

Weighted P&L: THIS $+53,333  |  DEFAULT ★ $+22,060  |  diff $+31,273   → THIS pays $+31,273 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 3. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Jan '28 (596d) Fortress 76ct $10C/$15P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Jan '28 Fortress 76ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score69,12235,118THIS (+97%)
Contracts7680DEFAULT ★ (-5%)
IC (capital)$23,104$59,200THIS (-61%)
Max Loss$99,104$99,200tie
Breakeven$14.02$17.40THIS (-19%)
Theta/day$-15$-20THIS (+24%)
Weighted P&L$54,093$22,060THIS (+145%)
ROIC (weighted)234%37%THIS (+528%)
DTE596d925dDEFAULT ★ (-36%)

Weighted P&L: THIS $+54,093  |  DEFAULT ★ $+22,060  |  diff $+32,033   → THIS pays $+32,033 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

★❖ (default winner + anchor)Dec '28 (925d) — This IS the default ★ pick: Fortress 80ct $10C/$15P/$10P
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.

Best Fortress: $10C / $15P / $10P (Dec '28, 925d)

LegActionStrikePriceDelta
LCBUY$10.0C$10.00+0.843
SPSELL$15.0P$6.70-0.255
HPBUY$10.0P$4.10+0.167
CtDeltaICMLBEThetaLevScoreROIC
80 +0.755/sh (+6,038) $59,200$99,200 $17.40 (+25%)$-20/d 1.9x35,118+141%

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$10C / $15P / $10P
80 contracts · Dec '28 (925d)		 $10C
100 contracts · Dec '28 (925d)
Score35,1189,843FORT (+257%)
Contracts80100PURE (-20%)
IC (capital)$59,200$100,000FORT (-41%)
Max Loss$99,200$100,000FORT (-1%)
Breakeven$17.40$20.00FORT (-13%)
Theta/day$-20$-29FORT (-32%)
ROIC (weighted)37%6%FORT (+503%)

Fortress scores +257% with similar max loss (-1%). Clear winner.

Anchor Cost Analysis (Dec '28, 925d)

What you trade by anchoring to Dec '28 (925d) instead of letting the score pick freely across all chains. ANCHOR wins each dimension where the anchored pick is better; free wins where the cross-chain best is better. The DTE row shows how much extra runway anchoring buys you.

Fortress
Dimension Anchored (Fortress) Free (Fortress) Δ Better
$10C / $15P / $10P × 80 contracts
Dec '28 (925d)		 $10C / $15P / $5P × 76 contracts
Jan '28 (596d)
Score35,11869,122-49.2%free
Contracts8076+5.3%ANCHOR
IC (capital)$59,200$23,104+36,096 (+156.2%)free
Max Loss$99,200$99,104+96tie
Breakeven$17.40$14.02+3.38 (+24.1%)free
Theta/day$-20$-15-5 (-31.2%)free
Weighted P&L$22,060$54,093-32,033 (-59.2%)free
ROIC (weighted)37%234%-84.1%free
DTE925d596d+329dANCHOR

Anchor expensive (~64% on score/P&L/ROIC). Anchor gives +329d runway. Wins: Contracts. Loses: Score, IC (capital), Breakeven.

Pure
Dimension Anchored (Pure) Free (Pure) Δ Better
Long Call $10 × 100 contracts
Dec '28 (925d)		 Long Call $10 × 140 contracts
Jun '27 (378d)
Score9,84350,126-80.4%free
Contracts100140-28.6%free
IC (capital)$100,000$99,400+600 (+0.6%)free
Max Loss$100,000$99,400+600 (+0.6%)free
Breakeven$20.00$17.10+2.90 (+17.0%)free
Theta/day$-29$-74+45 (+60.8%)ANCHOR
Weighted P&L$6,183$49,257-43,073 (-87.4%)free
ROIC (weighted)6%50%-87.5%free
DTE925d378d+547dANCHOR

Anchor expensive (~85% on score/P&L/ROIC). Anchor gives +547d runway. Wins: Theta/day. Loses: Score, Contracts, IC (capital).

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 80ctPure 100ctStock 7,194sh
-5%$13.21-$4,197-$5,857-$5,000
-10%$12.51-$8,393-$11,713-$10,000
-15%$11.81-$12,590-$17,570-$14,999
-20%$11.12-$16,787-$23,426-$19,999
-30%$9.73-$25,180-$35,140-$29,999

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 80ct Dec'28Pure 100ct Dec'28F-P DiffWinner
-19%$11$-81,280$-88,800$+7,520(Fort)
+0%$14$-36,800$-61,000$+24,200(Fort)
+25%$17$-200$-26,250$+26,050(Fort)
+50%$21$+27,600$+8,500$+19,100(Fort)
+75%$24$+55,400$+43,250$+12,150(Fort)
+100%$28$+83,200$+78,000$+5,200(Fort)
+200%$42$+194,400$+217,000$-22,600(Pure)
Weighted—$+22,060$+6,183$+15,877(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.

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

MARA @ $13.90

Sizing: $100,000 (ITM + OTM) | Chains: Jun 2027 (378d), Oct 2027 (498d), Nov 2027 (533d), Dec 2027 (561d), Jan 2028 (596d), Dec 2028 (925d)
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.  |  Anchored to Dec '28 (925d): all comparisons restricted to this chain. See Anchor Cost Analysis below.

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

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
◆Jun '27 (378d) ↳Fortress$13C/$15P/$13P149+0.655/sh (+9,767)$70,030$17.70 (+27%)$-88/d124,274
Oct '27 (498d) ↳Fortress$15C/$12P/$10P133+0.634/sh (+8,427)$73,150$20.50 (+47%)$-68/d87,270
Nov '27 (533d) ↳Fortress$15C/$15P/$10P117+0.563/sh (+6,582)$40,950$18.50 (+33%)$-53/d105,285
Dec '27 (561d) ↳Fortress$15C/$15P/$8P103+0.521/sh (+5,365)$27,810$17.70 (+27%)$-41/d105,305
Jan '28 (596d) ↳Fortress$15C/$15P/$8P106+0.537/sh (+5,696)$24,910$17.35 (+25%)$-41/d116,443
★Dec '28 (925d) ↳Fortress$15C/$15P/$10P97+0.677/sh (+6,569)$50,925$20.25 (+46%)$-31/d87,966
▲Dec '28 (925d) ↳Pure$15C127+0.765/sh (+9,716)$99,695$22.85 (+64%)$-46/d66,802

★ = 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).

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

Jun '27 (378d) Fortress 149ct $13C/$15P/$13P  vs  ★ DEFAULT Dec '28 (925d) Fortress 97ct $15C/$15P/$10P
Dimension THIS: Jun '27 Fortress 149ct DEFAULT ★: Dec '28 Fortress 97ct Better
Score124,27487,966THIS (+41%)
Contracts14997THIS (+54%)
IC (capital)$70,030$50,925DEFAULT ★ (+38%)
Max Loss$99,830$99,425tie
Breakeven$17.70$20.25THIS (-13%)
Theta/day$-88$-31DEFAULT ★ (-184%)
Weighted P&L$122,118$55,258THIS (+121%)
ROIC (weighted)174%109%THIS (+61%)
DTE378d925dDEFAULT ★ (-59%)

Weighted P&L: THIS $+122,118  |  DEFAULT ★ $+55,258  |  diff $+66,860   → THIS pays $+66,860 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.

Oct '27 (498d) Fortress 133ct $15C/$12P/$10P  vs  ★ DEFAULT Dec '28 (925d) Fortress 97ct $15C/$15P/$10P
Dimension THIS: Oct '27 Fortress 133ct DEFAULT ★: Dec '28 Fortress 97ct Better
Score87,27087,966DEFAULT ★ (-1%)
Contracts13397THIS (+37%)
IC (capital)$73,150$50,925DEFAULT ★ (+44%)
Max Loss$99,750$99,425tie
Breakeven$20.50$20.25DEFAULT ★ (+1%)
Theta/day$-68$-31DEFAULT ★ (-121%)
Weighted P&L$74,713$55,258THIS (+35%)
ROIC (weighted)102%109%DEFAULT ★ (-6%)
DTE498d925dDEFAULT ★ (-46%)

Weighted P&L: THIS $+74,713  |  DEFAULT ★ $+55,258  |  diff $+19,455   → THIS pays $+19,455 more under this mode's weights.

Dim-by-dim: THIS wins 2, DEFAULT wins 6. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Nov '27 (533d) Fortress 117ct $15C/$15P/$10P  vs  ★ DEFAULT Dec '28 (925d) Fortress 97ct $15C/$15P/$10P
Dimension THIS: Nov '27 Fortress 117ct DEFAULT ★: Dec '28 Fortress 97ct Better
Score105,28587,966THIS (+20%)
Contracts11797THIS (+21%)
IC (capital)$40,950$50,925THIS (-20%)
Max Loss$99,450$99,425tie
Breakeven$18.50$20.25THIS (-9%)
Theta/day$-53$-31DEFAULT ★ (-72%)
Weighted P&L$87,126$55,258THIS (+58%)
ROIC (weighted)213%109%THIS (+96%)
DTE533d925dDEFAULT ★ (-42%)

Weighted P&L: THIS $+87,126  |  DEFAULT ★ $+55,258  |  diff $+31,868   → THIS pays $+31,868 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Dec '27 (561d) Fortress 103ct $15C/$15P/$8P  vs  ★ DEFAULT Dec '28 (925d) Fortress 97ct $15C/$15P/$10P
Dimension THIS: Dec '27 Fortress 103ct DEFAULT ★: Dec '28 Fortress 97ct Better
Score105,30587,966THIS (+20%)
Contracts10397THIS (+6%)
IC (capital)$27,810$50,925THIS (-45%)
Max Loss$99,910$99,425tie
Breakeven$17.70$20.25THIS (-13%)
Theta/day$-41$-31DEFAULT ★ (-34%)
Weighted P&L$84,941$55,258THIS (+54%)
ROIC (weighted)305%109%THIS (+181%)
DTE561d925dDEFAULT ★ (-39%)

Weighted P&L: THIS $+84,941  |  DEFAULT ★ $+55,258  |  diff $+29,683   → THIS pays $+29,683 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Jan '28 (596d) Fortress 106ct $15C/$15P/$8P  vs  ★ DEFAULT Dec '28 (925d) Fortress 97ct $15C/$15P/$10P
Dimension THIS: Jan '28 Fortress 106ct DEFAULT ★: Dec '28 Fortress 97ct Better
Score116,44387,966THIS (+32%)
Contracts10697THIS (+9%)
IC (capital)$24,910$50,925THIS (-51%)
Max Loss$99,110$99,425tie
Breakeven$17.35$20.25THIS (-14%)
Theta/day$-41$-31DEFAULT ★ (-33%)
Weighted P&L$91,125$55,258THIS (+65%)
ROIC (weighted)366%109%THIS (+237%)
DTE596d925dDEFAULT ★ (-36%)

Weighted P&L: THIS $+91,125  |  DEFAULT ★ $+55,258  |  diff $+35,867   → THIS pays $+35,867 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

★❖ (default winner + anchor)Dec '28 (925d) — This IS the default ★ pick: Fortress 97ct $15C/$15P/$10P
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.

Best Fortress: $15C / $15P / $10P (Dec '28, 925d)

LegActionStrikePriceDelta
LCBUY$15.0C$7.85+0.765
SPSELL$15.0P$6.70-0.255
HPBUY$10.0P$4.10+0.167
CtDeltaICMLBEThetaLevScoreROIC
97 +0.677/sh (+6,569) $50,925$99,425 $20.25 (+46%)$-31/d 2.6x87,966+144%

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$15C / $15P / $10P
97 contracts · Dec '28 (925d)		 $15C
127 contracts · Dec '28 (925d)
Score87,96666,802FORT (+32%)
Contracts97127PURE (-24%)
IC (capital)$50,925$99,695FORT (-49%)
Max Loss$99,425$99,695TIE
Breakeven$20.25$22.85FORT (-11%)
Theta/day$-31$-46FORT (-33%)
ROIC (weighted)109%42%FORT (+158%)

Fortress scores +32% with similar max loss (-0%). Clear winner.

Anchor Cost Analysis (Dec '28, 925d)

What you trade by anchoring to Dec '28 (925d) instead of letting the score pick freely across all chains. ANCHOR wins each dimension where the anchored pick is better; free wins where the cross-chain best is better. The DTE row shows how much extra runway anchoring buys you.

Fortress
Dimension Anchored (Fortress) Free (Fortress) Δ Better
$15C / $15P / $10P × 97 contracts
Dec '28 (925d)		 $13C / $15P / $13P × 149 contracts
Jun '27 (378d)
Score87,966124,274-29.2%free
Contracts97149-34.9%free
IC (capital)$50,925$70,030-19,105 (-27.3%)ANCHOR
Max Loss$99,425$99,830-405tie
Breakeven$20.25$17.70+2.55 (+14.4%)free
Theta/day$-31$-88+57 (+64.7%)ANCHOR
Weighted P&L$55,258$122,118-66,860 (-54.8%)free
ROIC (weighted)109%174%-37.8%free
DTE925d378d+547dANCHOR

Anchor expensive (~41% on score/P&L/ROIC). Anchor gives +547d runway. Wins: IC (capital), Theta/day. Loses: Score, Contracts, Breakeven.

Pure
Dimension Anchored (Pure) Free (Pure) Δ Better
Long Call $15 × 127 contracts
Dec '28 (925d)		 Long Call $13 × 180 contracts
Jun '27 (378d)
Score66,802136,925-51.2%free
Contracts127180-29.4%free
IC (capital)$99,695$99,900-205tie
Max Loss$99,695$99,900-205tie
Breakeven$22.85$18.55+4.30 (+23.2%)free
Theta/day$-46$-110+64 (+58.4%)ANCHOR
Weighted P&L$41,963$134,550-92,587 (-68.8%)free
ROIC (weighted)42%135%-68.7%free
DTE925d378d+547dANCHOR

Anchor expensive (~63% on score/P&L/ROIC). Anchor gives +547d runway. Wins: Theta/day. Loses: Score, Contracts, Breakeven.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 97ctPure 127ctStock 7,194sh
-5%$13.21-$4,565-$6,753-$5,000
-10%$12.51-$9,130-$13,506-$10,000
-15%$11.81-$13,695-$20,258-$14,999
-20%$11.12-$18,261-$27,011-$19,999
-30%$9.73-$27,391-$40,517-$29,999

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 97ct Dec'28Pure 127ct Dec'28F-P DiffWinner
-19%$11$-88,561$-99,695$+11,134(Fort)
+0%$14$-61,595$-99,695$+38,100(Fort)
+25%$17$-27,888$-69,532$+41,645(Fort)
+50%$21$+5,820$-25,400$+31,220(Fort)
+75%$24$+39,528$+18,732$+20,795(Fort)
+100%$28$+73,235$+62,865$+10,370(Fort)
+200%$42$+208,065$+239,395$-31,330(Pure)
Weighted—$+55,258$+41,963$+13,295(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.

BREAKOUT — Active 6mo+ directional

MARA @ $13.90

Sizing: $100,000 (Deep ITM Only) | Chains: Aug 2026 (78d), Sep 2026 (106d), Dec 2026 (197d), Jan 2027 (225d), Jun 2027 (378d), Oct 2027 (498d), Nov 2027 (533d), Dec 2027 (561d), Jan 2028 (596d), Dec 2028 (925d)
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 (+31%, +63%, +94%, +125%, +188%; ATM IV 89%)) ÷ 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.  |  Anchored to Dec '28 (925d): all comparisons restricted to this chain. See Anchor Cost Analysis below.

Breakout Mode: 6-month horizon, sigma-targets: +31%, +63%, +94%, +125%, +188% (IV 89%) ($100,000 ML budget)

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
Aug '26 (78d) ↳Fortress$12C/$15P/$13P224+0.586/sh (+13,120)$54,880$14.72 (+6%)$-273/d1.02
Sep '26 (106d) ↳Fortress$12C/$13P/$11P202+0.927/sh (+18,728)$59,590$14.95 (+8%)$-65/d1.36
Dec '26 (197d) ↳Fortress$12C/$15P/$10P135+0.542/sh (+7,317)$32,130$14.69 (+6%)$-177/d1.32
◆Jan '27 (225d) ↳Fortress$11C/$14P/$9P122+0.339/sh (+4,137)$38,796$14.18 (+2%)$-75/d1.40
Jun '27 (378d) ↳Fortress$10C/$15P/$8P92+0.593/sh (+5,457)$34,776$14.39 (+4%)$-33/d1.17
Oct '27 (498d) ↳Fortress$7C/$12P/$5P66+0.712/sh (+4,698)$53,064$15.04 (+8%)$-11/d0.7921
Nov '27 (533d) ↳Fortress$10C/$15P/$5P74+0.565/sh (+4,179)$24,864$14.18 (+2%)$-16/d1.01
Dec '27 (561d) ↳Fortress$10C/$15P/$10P97+0.691/sh (+6,703)$50,925$15.25 (+10%)$-33/d1.10
Jan '28 (596d) ↳Fortress$10C/$15P/$8P89+0.651/sh (+5,795)$36,935$14.57 (+5%)$-26/d1.12
★Dec '28 (925d) ↳Fortress$10C/$15P/$10P80+0.755/sh (+6,038)$59,200$17.40 (+25%)$-20/d0.7628
▲Dec '28 (925d) ↳Pure$10C100+0.843/sh (+8,427)$100,000$20.00 (+44%)$-29/d0.6840
●NowStock7,194 sh @ $13.907,194+1.000/sh (+7,194)$99,997$13.90 (+0%)$0/d0.9565

★ = 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).

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

Aug '26 (78d) Fortress 224ct $12C/$15P/$13P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Aug '26 Fortress 224ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.020.7628THIS (+34%)
Contracts22480THIS (+180%)
IC (capital)$54,880$59,200THIS (-7%)
Max Loss$99,680$99,200tie
Breakeven$14.72$17.40THIS (-15%)
Theta/day$-273$-20DEFAULT ★ (-1291%)
Weighted P&L$285,508$78,367THIS (+264%)
ROIC (weighted)520%132%THIS (+293%)
DTE78d925dDEFAULT ★ (-92%)

Weighted P&L: THIS $+285,508  |  DEFAULT ★ $+78,367  |  diff $+207,141   → THIS pays $+207,141 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Sep '26 (106d) Fortress 202ct $12C/$13P/$11P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Sep '26 Fortress 202ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.360.7628THIS (+79%)
Contracts20280THIS (+152%)
IC (capital)$59,590$59,200DEFAULT ★ (+1%)
Max Loss$99,990$99,200DEFAULT ★ (+1%)
Breakeven$14.95$17.40THIS (-14%)
Theta/day$-65$-20DEFAULT ★ (-229%)
Weighted P&L$247,367$78,367THIS (+216%)
ROIC (weighted)415%132%THIS (+214%)
DTE106d925dDEFAULT ★ (-89%)

Weighted P&L: THIS $+247,367  |  DEFAULT ★ $+78,367  |  diff $+169,000   → THIS pays $+169,000 more under this mode's weights.

Dim-by-dim: THIS wins 5, DEFAULT wins 4. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Dec '26 (197d) Fortress 135ct $12C/$15P/$10P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Dec '26 Fortress 135ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.320.7628THIS (+73%)
Contracts13580THIS (+69%)
IC (capital)$32,130$59,200THIS (-46%)
Max Loss$99,630$99,200tie
Breakeven$14.69$17.40THIS (-16%)
Theta/day$-177$-20DEFAULT ★ (-800%)
Weighted P&L$173,015$78,367THIS (+121%)
ROIC (weighted)538%132%THIS (+307%)
DTE197d925dDEFAULT ★ (-79%)

Weighted P&L: THIS $+173,015  |  DEFAULT ★ $+78,367  |  diff $+94,647   → THIS pays $+94,647 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Jan '27 (225d) Fortress 122ct $11C/$14P/$9P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Jan '27 Fortress 122ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.400.7628THIS (+84%)
Contracts12280THIS (+52%)
IC (capital)$38,796$59,200THIS (-34%)
Max Loss$99,796$99,200DEFAULT ★ (+1%)
Breakeven$14.18$17.40THIS (-19%)
Theta/day$-75$-20DEFAULT ★ (-281%)
Weighted P&L$158,794$78,367THIS (+103%)
ROIC (weighted)409%132%THIS (+209%)
DTE225d925dDEFAULT ★ (-76%)

Weighted P&L: THIS $+158,794  |  DEFAULT ★ $+78,367  |  diff $+80,427   → THIS pays $+80,427 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 3. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Jun '27 (378d) Fortress 92ct $10C/$15P/$8P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Jun '27 Fortress 92ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.170.7628THIS (+54%)
Contracts9280THIS (+15%)
IC (capital)$34,776$59,200THIS (-41%)
Max Loss$99,176$99,200tie
Breakeven$14.39$17.40THIS (-17%)
Theta/day$-33$-20DEFAULT ★ (-68%)
Weighted P&L$123,426$78,367THIS (+57%)
ROIC (weighted)355%132%THIS (+168%)
DTE378d925dDEFAULT ★ (-59%)

Weighted P&L: THIS $+123,426  |  DEFAULT ★ $+78,367  |  diff $+45,059   → THIS pays $+45,059 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Oct '27 (498d) Fortress 66ct $7C/$12P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Oct '27 Fortress 66ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score0.79210.7628THIS (+4%)
Contracts6680DEFAULT ★ (-18%)
IC (capital)$53,064$59,200THIS (-10%)
Max Loss$99,264$99,200tie
Breakeven$15.04$17.40THIS (-14%)
Theta/day$-11$-20THIS (+43%)
Weighted P&L$80,229$78,367THIS (+2%)
ROIC (weighted)151%132%THIS (+14%)
DTE498d925dDEFAULT ★ (-46%)

Weighted P&L: THIS $+80,229  |  DEFAULT ★ $+78,367  |  diff $+1,862   → THIS pays $+1,862 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Nov '27 (533d) Fortress 74ct $10C/$15P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Nov '27 Fortress 74ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.010.7628THIS (+32%)
Contracts7480DEFAULT ★ (-8%)
IC (capital)$24,864$59,200THIS (-58%)
Max Loss$98,864$99,200tie
Breakeven$14.18$17.40THIS (-19%)
Theta/day$-16$-20THIS (+20%)
Weighted P&L$102,386$78,367THIS (+31%)
ROIC (weighted)412%132%THIS (+211%)
DTE533d925dDEFAULT ★ (-42%)

Weighted P&L: THIS $+102,386  |  DEFAULT ★ $+78,367  |  diff $+24,018   → THIS pays $+24,018 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Dec '27 (561d) Fortress 97ct $10C/$15P/$10P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Dec '27 Fortress 97ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.100.7628THIS (+44%)
Contracts9780THIS (+21%)
IC (capital)$50,925$59,200THIS (-14%)
Max Loss$99,425$99,200tie
Breakeven$15.25$17.40THIS (-12%)
Theta/day$-33$-20DEFAULT ★ (-67%)
Weighted P&L$115,875$78,367THIS (+48%)
ROIC (weighted)228%132%THIS (+72%)
DTE561d925dDEFAULT ★ (-39%)

Weighted P&L: THIS $+115,875  |  DEFAULT ★ $+78,367  |  diff $+37,508   → THIS pays $+37,508 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Jan '28 (596d) Fortress 89ct $10C/$15P/$8P  vs  ★ DEFAULT Dec '28 (925d) Fortress 80ct $10C/$15P/$10P
Dimension THIS: Jan '28 Fortress 89ct DEFAULT ★: Dec '28 Fortress 80ct Better
Score1.120.7628THIS (+47%)
Contracts8980THIS (+11%)
IC (capital)$36,935$59,200THIS (-38%)
Max Loss$99,235$99,200tie
Breakeven$14.57$17.40THIS (-16%)
Theta/day$-26$-20DEFAULT ★ (-31%)
Weighted P&L$116,108$78,367THIS (+48%)
ROIC (weighted)314%132%THIS (+137%)
DTE596d925dDEFAULT ★ (-36%)

Weighted P&L: THIS $+116,108  |  DEFAULT ★ $+78,367  |  diff $+37,741   → THIS pays $+37,741 more under this mode's weights.

Dim-by-dim: THIS wins 6, DEFAULT wins 2. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

★❖ (default winner + anchor)Dec '28 (925d) — This IS the default ★ pick: Fortress 80ct $10C/$15P/$10P
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.

Best Fortress: $10C / $15P / $10P (Dec '28, 925d)

LegActionStrikePriceDelta
LCBUY$10.0C$10.00+0.843
SPSELL$15.0P$6.70-0.255
HPBUY$10.0P$4.10+0.167
CtDeltaICMLBEThetaLevScoreROIC
80 +0.755/sh (+6,038) $59,200$99,200 $17.40 (+25%)$-20/d 1.9x0.7628+141%

Verdict: STOCK BASELINE PREFERRED

Dimension Fortress Pure Winner
$10C / $15P / $10P
80 contracts · Dec '28 (925d)		 $10C
100 contracts · Dec '28 (925d)
Score0.76280.6840FORT (+12%)
Contracts80100PURE (-20%)
IC (capital)$59,200$100,000FORT (-41%)
Max Loss$99,200$100,000FORT (-1%)
Breakeven$17.40$20.00FORT (-13%)
Theta/day$-20$-29FORT (-32%)
ROIC (weighted)132%72%FORT (+84%)

STOCK BASELINE WINS: scores 25% higher than the best LEAPS structure on breakout score (sigma-weighted (5 targets at 0.5-3sigma of expected move)). With a ?% stop, buying 7,194 shares of stock at $13.90 gives better reward per dollar at risk than any LEAPS structure here. Use LEAPS only if you need leverage / capital efficiency.

Anchor Cost Analysis (Dec '28, 925d)

What you trade by anchoring to Dec '28 (925d) instead of letting the score pick freely across all chains. ANCHOR wins each dimension where the anchored pick is better; free wins where the cross-chain best is better. The DTE row shows how much extra runway anchoring buys you.

Fortress
Dimension Anchored (Fortress) Free (Fortress) Δ Better
$10C / $15P / $10P × 80 contracts
Dec '28 (925d)		 $11C / $14P / $9P × 122 contracts
Jan '27 (225d)
Score0.76281.40-45.6%free
Contracts80122-34.4%free
IC (capital)$59,200$38,796+20,404 (+52.6%)free
Max Loss$99,200$99,796-596 (-0.6%)ANCHOR
Breakeven$17.40$14.18+3.22 (+22.7%)free
Theta/day$-20$-75+55 (+73.7%)ANCHOR
Weighted P&L$78,367$158,794-80,427 (-50.6%)free
ROIC (weighted)132%409%-67.7%free
DTE925d225d+700dANCHOR

Anchor expensive (~55% on score/P&L/ROIC). Anchor gives +700d runway. Wins: Max Loss, Theta/day. Loses: Score, Contracts, IC (capital).

Pure
Dimension Anchored (Pure) Free (Pure) Δ Better
Long Call $10 × 100 contracts
Dec '28 (925d)		 Long Call $11 × 181 contracts
Jan '27 (225d)
Score0.68401.56-56.2%free
Contracts100181-44.8%free
IC (capital)$100,000$99,550+450tie
Max Loss$100,000$99,550+450tie
Breakeven$20.00$16.50+3.50 (+21.2%)free
Theta/day$-29$-136+107 (+78.7%)ANCHOR
Weighted P&L$71,959$193,596-121,637 (-62.8%)free
ROIC (weighted)72%194%-63.0%free
DTE925d225d+700dANCHOR

Anchor expensive (~61% on score/P&L/ROIC). Anchor gives +700d runway. Wins: Theta/day. Loses: Score, Contracts, Breakeven.

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

sigmaMovePriceWeight Fortress 80ctPure 100ctStock 7,194shWinner
0.5sigma+31%$18.2615%$+6,874$-17,407$+31,361(Stock)
1sigma+63%$22.6220%$+41,749$+26,186$+62,722(Stock)
1.5sigma+94%$26.9830%$+76,623$+69,779$+94,083(Stock)
2sigma+125%$31.3425%$+111,498$+113,372$+125,443(Stock)
3sigma+188%$40.0610%$+181,247$+200,559$+188,165(Pure)
Weighted average P&L100% $+78,367 $+71,959 $+95,651 (Stock)

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 80ctPure 100ctStock 7,194sh
-5%$13.21-$4,197-$5,857-$5,000
-10%$12.51-$8,393-$11,713-$10,000
-15%$11.81-$12,590-$17,570-$14,999
-20%$11.12-$16,787-$23,426-$19,999
-30%$9.73-$25,180-$35,140-$29,999

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 80ct Dec'28Pure 100ct Dec'28Stock 7,194shF-P DiffWinner
-19%$11$-81,280$-88,800$-19,999$+7,520(Stock)
+0%$14$-36,800$-61,000$0$+24,200(Stock)
+25%$17$-200$-26,250$+24,999$+26,050(Stock)
+50%$21$+27,600$+8,500$+49,998$+19,100(Stock)
+75%$24$+55,400$+43,250$+74,997$+12,150(Stock)
+100%$28$+83,200$+78,000$+99,997$+5,200(Stock)
+200%$42$+194,400$+217,000$+199,993$-22,600(Pure)
Weighted—$+78,367$+71,959$+95,651$+6,408(Stock)

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)

MARA @ $13.90

Sizing: $100,000 (OTM Only) | Chains: Jun 2027 (378d), Oct 2027 (498d), Nov 2027 (533d), Dec 2027 (561d), Jan 2028 (596d), Dec 2028 (925d)
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.  |  Anchored to Dec '28 (925d): all comparisons restricted to this chain. See Anchor Cost Analysis below.

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

All Candidates

ChainTypeStructureCtDeltaICBEThetaScore
◆Jun '27 (378d) ↳Fortress$25C/$15P/$13P256+0.369/sh (+9,447)$48,640$26.90 (+94%)$-163/d443,840
Oct '27 (498d) ↳Fortress$17C/$12P/$10P142+0.589/sh (+8,362)$71,000$22.00 (+58%)$-77/d351,133
Nov '27 (533d) ↳Fortress$15C/$7P/$5P131+0.648/sh (+8,492)$73,753$20.63 (+48%)$-60/d355,273
Dec '27 (561d) ↳Fortress$20C/$10P/$8P159+0.543/sh (+8,627)$67,893$24.27 (+75%)$-82/d376,536
Jan '28 (596d) ↳Fortress$25C/$15P/$13P204+0.472/sh (+9,638)$59,160$27.90 (+101%)$-105/d418,045
★Dec '28 (925d) ↳Fortress$17C/$15P/$10P103+0.653/sh (+6,727)$47,895$21.65 (+56%)$-35/d350,979
▲Dec '28 (925d) ↳Pure$17C137+0.741/sh (+10,152)$99,325$24.25 (+74%)$-52/d413,122
●NowStock7,194 sh @ $13.907,194+1.000/sh (+7,194)$99,997$13.90 (+0%)$0/d293,373

★ = 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).

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

Jun '27 (378d) Fortress 256ct $25C/$15P/$13P  vs  ★ DEFAULT Dec '28 (925d) Fortress 103ct $17C/$15P/$10P
Dimension THIS: Jun '27 Fortress 256ct DEFAULT ★: Dec '28 Fortress 103ct Better
Score443,840350,979THIS (+26%)
Contracts256103THIS (+149%)
IC (capital)$48,640$47,895DEFAULT ★ (+2%)
Max Loss$99,840$99,395tie
Breakeven$26.90$21.65DEFAULT ★ (+24%)
Theta/day$-163$-35DEFAULT ★ (-366%)
Weighted P&L$436,141$220,474THIS (+98%)
ROIC (weighted)897%460%THIS (+95%)
DTE378d925dDEFAULT ★ (-59%)

Weighted P&L: THIS $+436,141  |  DEFAULT ★ $+220,474  |  diff $+215,667   → THIS pays $+215,667 more under this mode's weights.

Dim-by-dim: THIS wins 4, DEFAULT wins 4. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Oct '27 (498d) Fortress 142ct $17C/$12P/$10P  vs  ★ DEFAULT Dec '28 (925d) Fortress 103ct $17C/$15P/$10P
Dimension THIS: Oct '27 Fortress 142ct DEFAULT ★: Dec '28 Fortress 103ct Better
Score351,133350,979tie
Contracts142103THIS (+38%)
IC (capital)$71,000$47,895DEFAULT ★ (+48%)
Max Loss$99,400$99,395tie
Breakeven$22.00$21.65DEFAULT ★ (+2%)
Theta/day$-77$-35DEFAULT ★ (-120%)
Weighted P&L$300,610$220,474THIS (+36%)
ROIC (weighted)423%460%DEFAULT ★ (-8%)
DTE498d925dDEFAULT ★ (-46%)

Weighted P&L: THIS $+300,610  |  DEFAULT ★ $+220,474  |  diff $+80,137   → THIS pays $+80,137 more under this mode's weights.

Dim-by-dim: THIS wins 2, DEFAULT wins 5. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Nov '27 (533d) Fortress 131ct $15C/$7P/$5P  vs  ★ DEFAULT Dec '28 (925d) Fortress 103ct $17C/$15P/$10P
Dimension THIS: Nov '27 Fortress 131ct DEFAULT ★: Dec '28 Fortress 103ct Better
Score355,273350,979THIS (+1%)
Contracts131103THIS (+27%)
IC (capital)$73,753$47,895DEFAULT ★ (+54%)
Max Loss$99,953$99,395DEFAULT ★ (+1%)
Breakeven$20.63$21.65THIS (-5%)
Theta/day$-60$-35DEFAULT ★ (-71%)
Weighted P&L$293,999$220,474THIS (+33%)
ROIC (weighted)399%460%DEFAULT ★ (-13%)
DTE533d925dDEFAULT ★ (-42%)

Weighted P&L: THIS $+293,999  |  DEFAULT ★ $+220,474  |  diff $+73,525   → THIS pays $+73,525 more under this mode's weights.

Dim-by-dim: THIS wins 4, DEFAULT wins 5. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

Dec '27 (561d) Fortress 159ct $20C/$10P/$8P  vs  ★ DEFAULT Dec '28 (925d) Fortress 103ct $17C/$15P/$10P
Dimension THIS: Dec '27 Fortress 159ct DEFAULT ★: Dec '28 Fortress 103ct Better
Score376,536350,979THIS (+7%)
Contracts159103THIS (+54%)
IC (capital)$67,893$47,895DEFAULT ★ (+42%)
Max Loss$99,693$99,395tie
Breakeven$24.27$21.65DEFAULT ★ (+12%)
Theta/day$-82$-35DEFAULT ★ (-134%)
Weighted P&L$303,719$220,474THIS (+38%)
ROIC (weighted)447%460%DEFAULT ★ (-3%)
DTE561d925dDEFAULT ★ (-39%)

Weighted P&L: THIS $+303,719  |  DEFAULT ★ $+220,474  |  diff $+83,245   → THIS pays $+83,245 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.

Jan '28 (596d) Fortress 204ct $25C/$15P/$13P  vs  ★ DEFAULT Dec '28 (925d) Fortress 103ct $17C/$15P/$10P
Dimension THIS: Jan '28 Fortress 204ct DEFAULT ★: Dec '28 Fortress 103ct Better
Score418,045350,979THIS (+19%)
Contracts204103THIS (+98%)
IC (capital)$59,160$47,895DEFAULT ★ (+24%)
Max Loss$99,960$99,395DEFAULT ★ (+1%)
Breakeven$27.90$21.65DEFAULT ★ (+29%)
Theta/day$-105$-35DEFAULT ★ (-201%)
Weighted P&L$327,150$220,474THIS (+48%)
ROIC (weighted)553%460%THIS (+20%)
DTE596d925dDEFAULT ★ (-36%)

Weighted P&L: THIS $+327,150  |  DEFAULT ★ $+220,474  |  diff $+106,676   → THIS pays $+106,676 more under this mode's weights.

Dim-by-dim: THIS wins 4, DEFAULT wins 5. "THIS" pays more = anchor here instead. "DEFAULT" pays more = current pick stays best.

★❖ (default winner + anchor)Dec '28 (925d) — This IS the default ★ pick: Fortress 103ct $17C/$15P/$10P
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.

Best Fortress: $17C / $15P / $10P (Dec '28, 925d)

LegActionStrikePriceDelta
LCBUY$17.0C$7.25+0.741
SPSELL$15.0P$6.70-0.255
HPBUY$10.0P$4.10+0.167
CtDeltaICMLBEThetaLevScoreROIC
103 +0.653/sh (+6,727) $47,895$99,395 $21.65 (+56%)$-35/d 3.0x350,979+132%

Verdict: FORTRESS PREFERRED

Dimension Fortress Pure Winner
$17C / $15P / $10P
103 contracts · Dec '28 (925d)		 $17C
137 contracts · Dec '28 (925d)
Score350,979413,122PURE (-15%)
Contracts103137PURE (-25%)
IC (capital)$47,895$99,325FORT (-52%)
Max Loss$99,395$99,325TIE
Breakeven$21.65$24.25FORT (-11%)
Theta/day$-35$-52FORT (-33%)
ROIC (weighted)460%261%FORT (+76%)

Pure scores +15% on raw P&L from extra contracts. Fortress wins 4/4 efficiency dims (IC, BE, theta, ROIC). Trade 15% score for capital efficiency.

Anchor Cost Analysis (Dec '28, 925d)

What you trade by anchoring to Dec '28 (925d) instead of letting the score pick freely across all chains. ANCHOR wins each dimension where the anchored pick is better; free wins where the cross-chain best is better. The DTE row shows how much extra runway anchoring buys you.

Fortress
Dimension Anchored (Fortress) Free (Fortress) Δ Better
$17C / $15P / $10P × 103 contracts
Dec '28 (925d)		 $25C / $15P / $13P × 256 contracts
Jun '27 (378d)
Score350,979443,840-20.9%free
Contracts103256-59.8%free
IC (capital)$47,895$48,640-745 (-1.5%)ANCHOR
Max Loss$99,395$99,840-445tie
Breakeven$21.65$26.90-5.25 (-19.5%)ANCHOR
Theta/day$-35$-163+128 (+78.5%)ANCHOR
Weighted P&L$220,474$436,141-215,667 (-49.4%)free
ROIC (weighted)460%897%-48.7%free
DTE925d378d+547dANCHOR

Anchor expensive (~40% on score/P&L/ROIC). Anchor gives +547d runway. Wins: IC (capital), Breakeven, Theta/day. Loses: Score, Contracts, Weighted P&L.

Pure
Dimension Anchored (Pure) Free (Pure) Δ Better
Long Call $17 × 137 contracts
Dec '28 (925d)		 Long Call $25 × 363 contracts
Jun '27 (378d)
Score413,122601,235-31.3%free
Contracts137363-62.3%free
IC (capital)$99,325$99,825-500 (-0.5%)ANCHOR
Max Loss$99,325$99,825-500 (-0.5%)ANCHOR
Breakeven$24.25$27.75-3.50 (-12.6%)ANCHOR
Theta/day$-52$-240+188 (+78.2%)ANCHOR
Weighted P&L$259,510$590,806-331,296 (-56.1%)free
ROIC (weighted)261%592%-55.9%free
DTE925d378d+547dANCHOR

Anchor expensive (~48% on score/P&L/ROIC). Anchor gives +547d runway. Wins: IC (capital), Max Loss, Breakeven. Loses: Score, Contracts, Weighted P&L.

Stop Profile (MTM loss if stop hits)

StopStock at Fortress 103ctPure 137ctStock 7,194sh
-5%$13.21-$4,675-$7,055-$5,000
-10%$12.51-$9,350-$14,111-$10,000
-15%$11.81-$14,026-$21,166-$14,999
-20%$11.12-$18,701-$28,221-$19,999
-30%$9.73-$28,051-$42,332-$29,999

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 103ct Dec'28Pure 137ct Dec'28Stock 7,194shF-P DiffWinner
-19%$11$-87,859$-99,325$-19,999$+11,466(Stock)
+0%$14$-59,225$-99,325$0$+40,100(Stock)
+50%$21$-8,240$-46,580$+49,998$+38,340(Stock)
+100%$28$+63,345$+48,635$+99,997$+14,710(Stock)
+200%$42$+206,515$+239,065$+199,993$-32,550(Pure)
+300%$56$+349,685$+429,495$+299,990$-79,810(Pure)
+400%$70$+492,855$+619,925$+399,986$-127,070(Pure)
+700%$111$+922,365$+1,191,215$+699,976$-268,850(Pure)
+1000%$153$+1,351,875$+1,762,505$+999,966$-410,630(Pure)
Weighted—$+220,474$+259,510$+208,882$-39,036(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.