Every chain's best Fortress sized to the SAME contract count for apples-to-apples capital / max-loss / margin comparison. Change the dropdown to resize. Tick up to 2 chains in the ☑ column to compare them side by side. Structure: + = bought (long), − = sold (short). Click any BE & CC-Safe cell to open that chain's CC-Safe Strike card.
★ Score = (Weighted P&L ÷ Max Loss) × horizon-fit. Weighted P&L = expected expiry dollars across a weighted scenario basket. Moderate-bull basket (Bucket A weights): +25% carries the biggest weight, then +50% / +75%; flat and -20% count (they penalize high breakevens); +100% / +200% taper off — rewards stock-replacement structures that pay across the likely-bull range. ÷ Max Loss turns it into return-per-dollar-at-risk (capital efficiency, so a deeper/longer structure is not rewarded just for costing more). × horizon-fit peaks in the 1-2yr window (365-730 DTE) and tapers outside it, keeping the pick inside the thesis horizon. All three terms are size-invariant, so the ★ does not move when you change the contract count.
| ☑ | Chain | Structure | Ct | Delta | Sh Eqv | IC | ML | Margin | Theta | BE & CC-Safe | PnL @ +100% |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar '27 (276d) | +$190C −$230P +$205P | 18 | +0.832/sh | +1,497 | $54,000 | $99,000 | $68,972 | $-111/d | BE $225.00 (+7%) CC-Safe ▾ | $+358,272 | |
| Jun '27 (366d) ★ | +$190C −$215P +$190P | 18 | +0.816/sh | +1,470 | $67,320 | $112,320 ▲ | $70,038 | $-97/d | BE $227.40 (+9%) CC-Safe ▾ | $+344,952 | |
| Sep '27 (458d) | +$190C −$230P +$205P | 18 | +0.810/sh | +1,457 | $74,700 | $119,700 ▲ | $72,985 | $-90/d | BE $231.50 (+10%) CC-Safe ▾ | $+337,572 | |
| Dec '27 (549d) | +$190C −$225P +$200P | 18 | +0.805/sh | +1,449 | $83,340 | $128,340 ▲ | $74,631 | $-83/d | BE $236.30 (+13%) CC-Safe ▾ | $+328,932 | |
| Jan '28 (584d) | +$195C −$220P +$195P | 18 | +0.791/sh | +1,424 | $82,800 | $127,800 ▲ | $73,927 | $-82/d | BE $241.00 (+15%) CC-Safe ▾ | $+320,472 | |
| Jun '28 (731d) | +$175C −$230P +$195P | 18 | +0.879/sh | +1,582 | $100,440 | $163,440 ▲ | $83,419 | $-67/d | BE $230.80 (+10%) CC-Safe ▾ | $+338,832 | |
| Dec '28 (913d) | +$140C −$230P +$180P | 18 | +0.998/sh | +1,796 | $133,560 | $223,560 ▲ | $90,484 | $-49/d | BE $222.10 (+6%) CC-Safe ▾ | $+368,712 |
Margin = real IBKR portfolio (TIMS) maintenance margin from a whatIf order on the 3-leg open combo (BUY LC / SELL SP / BUY HP), the same engine TWS shows. This is the ongoing capital held; the one-time initial requirement to open is higher. Stored at the analyzed contract count and rescaled linearly by the dropdown (TIMS has mild concentration non-linearity, so verify the exact figure in TWS before sizing). For net-long Bucket A synthetics this runs well above the old Reg-T put-spread width, which ignored the long call's directional risk.
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-99,000 | -183% |
| -25% | $157.14 | $-99,000 | -183% |
| +0% | $209.52 | $-55,728 | -103% |
| +25% | $261.90 | $+75,420 | +140% |
| +50% | $314.28 | $+169,704 | +314% |
| +75% | $366.66 | $+263,988 | +489% |
| +100% | $419.04 | $+358,272 | +663% |
| +125% | $471.42 | $+452,556 | +838% |
| +150% | $523.80 | $+546,840 | +1013% |
| +175% | $576.18 | $+641,124 | +1187% |
| +200% | $628.56 | $+735,408 | +1362% |
| +225% | $680.94 | $+829,692 | +1536% |
| +250% | $733.32 | $+923,976 | +1711% |
| +275% | $785.70 | $+1,018,260 | +1886% |
| +300% | $838.08 | $+1,112,544 | +2060% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-112,320 | -167% |
| -25% | $157.14 | $-112,320 | -167% |
| +0% | $209.52 | $-42,048 | -62% |
| +25% | $261.90 | $+62,100 | +92% |
| +50% | $314.28 | $+156,384 | +232% |
| +75% | $366.66 | $+250,668 | +372% |
| +100% | $419.04 | $+344,952 | +512% |
| +125% | $471.42 | $+439,236 | +652% |
| +150% | $523.80 | $+533,520 | +793% |
| +175% | $576.18 | $+627,804 | +933% |
| +200% | $628.56 | $+722,088 | +1073% |
| +225% | $680.94 | $+816,372 | +1213% |
| +250% | $733.32 | $+910,656 | +1353% |
| +275% | $785.70 | $+1,004,940 | +1493% |
| +300% | $838.08 | $+1,099,224 | +1633% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-119,700 | -160% |
| -25% | $157.14 | $-119,700 | -160% |
| +0% | $209.52 | $-76,428 | -102% |
| +25% | $261.90 | $+54,720 | +73% |
| +50% | $314.28 | $+149,004 | +199% |
| +75% | $366.66 | $+243,288 | +326% |
| +100% | $419.04 | $+337,572 | +452% |
| +125% | $471.42 | $+431,856 | +578% |
| +150% | $523.80 | $+526,140 | +704% |
| +175% | $576.18 | $+620,424 | +831% |
| +200% | $628.56 | $+714,708 | +957% |
| +225% | $680.94 | $+808,992 | +1083% |
| +250% | $733.32 | $+903,276 | +1209% |
| +275% | $785.70 | $+997,560 | +1335% |
| +300% | $838.08 | $+1,091,844 | +1462% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-128,340 | -154% |
| -25% | $157.14 | $-128,340 | -154% |
| +0% | $209.52 | $-76,068 | -91% |
| +25% | $261.90 | $+46,080 | +55% |
| +50% | $314.28 | $+140,364 | +168% |
| +75% | $366.66 | $+234,648 | +282% |
| +100% | $419.04 | $+328,932 | +395% |
| +125% | $471.42 | $+423,216 | +508% |
| +150% | $523.80 | $+517,500 | +621% |
| +175% | $576.18 | $+611,784 | +734% |
| +200% | $628.56 | $+706,068 | +847% |
| +225% | $680.94 | $+800,352 | +960% |
| +250% | $733.32 | $+894,636 | +1073% |
| +275% | $785.70 | $+988,920 | +1187% |
| +300% | $838.08 | $+1,083,204 | +1300% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-127,800 | -154% |
| -25% | $157.14 | $-127,800 | -154% |
| +0% | $209.52 | $-75,528 | -91% |
| +25% | $261.90 | $+37,620 | +45% |
| +50% | $314.28 | $+131,904 | +159% |
| +75% | $366.66 | $+226,188 | +273% |
| +100% | $419.04 | $+320,472 | +387% |
| +125% | $471.42 | $+414,756 | +501% |
| +150% | $523.80 | $+509,040 | +615% |
| +175% | $576.18 | $+603,324 | +729% |
| +200% | $628.56 | $+697,608 | +843% |
| +225% | $680.94 | $+791,892 | +956% |
| +250% | $733.32 | $+886,176 | +1070% |
| +275% | $785.70 | $+980,460 | +1184% |
| +300% | $838.08 | $+1,074,744 | +1298% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-163,440 | -163% |
| -25% | $157.14 | $-163,440 | -163% |
| +0% | $209.52 | $-75,168 | -75% |
| +25% | $261.90 | $+55,980 | +56% |
| +50% | $314.28 | $+150,264 | +150% |
| +75% | $366.66 | $+244,548 | +243% |
| +100% | $419.04 | $+338,832 | +337% |
| +125% | $471.42 | $+433,116 | +431% |
| +150% | $523.80 | $+527,400 | +525% |
| +175% | $576.18 | $+621,684 | +619% |
| +200% | $628.56 | $+715,968 | +713% |
| +225% | $680.94 | $+810,252 | +807% |
| +250% | $733.32 | $+904,536 | +901% |
| +275% | $785.70 | $+998,820 | +994% |
| +300% | $838.08 | $+1,093,104 | +1088% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-223,560 | -167% |
| -25% | $157.14 | $-192,708 | -144% |
| +0% | $209.52 | $-45,288 | -34% |
| +25% | $261.90 | $+85,860 | +64% |
| +50% | $314.28 | $+180,144 | +135% |
| +75% | $366.66 | $+274,428 | +205% |
| +100% | $419.04 | $+368,712 | +276% |
| +125% | $471.42 | $+462,996 | +347% |
| +150% | $523.80 | $+557,280 | +417% |
| +175% | $576.18 | $+651,564 | +488% |
| +200% | $628.56 | $+745,848 | +558% |
| +225% | $680.94 | $+840,132 | +629% |
| +250% | $733.32 | $+934,416 | +700% |
| +275% | $785.70 | $+1,028,700 | +770% |
| +300% | $838.08 | $+1,122,984 | +841% |
Every chain's best Fortress sized to the SAME contract count for apples-to-apples capital / max-loss / margin comparison. Change the dropdown to resize. Tick up to 2 chains in the ☑ column to compare them side by side. Structure: + = bought (long), − = sold (short). Click any BE & CC-Safe cell to open that chain's CC-Safe Strike card.
★ Score = (Weighted P&L ÷ Max Loss) × horizon-fit. Weighted P&L = expected expiry dollars across a weighted scenario basket. Convexity basket (Bucket B weights): +75% and +100% carry the biggest weight, +200% tail counted, downside (-20% / flat) lightly weighted — rewards OTM structures that pay big on a strong move. ÷ Max Loss turns it into return-per-dollar-at-risk (capital efficiency, so a deeper/longer structure is not rewarded just for costing more). × horizon-fit peaks in the 1-2yr window (365-730 DTE) and tapers outside it, keeping the pick inside the thesis horizon. All three terms are size-invariant, so the ★ does not move when you change the contract count.
| ☑ | Chain | Structure | Ct | Delta | Sh Eqv | IC | ML | Margin | Theta | BE & CC-Safe | PnL @ +100% |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar '27 (276d) | +$305C −$240P +$215P | 51 | +0.366/sh | +1,867 | $-28,050 | $99,450 | $81,928 | $-272/d | BE $299.50 (+43%) CC-Safe ▾ | $+609,654 | |
| Jun '27 (366d) ★ | +$300C −$240P +$215P | 51 | +0.419/sh | +2,137 | $0 | $127,500 ▲ | $100,543 | $-264/d | BE $300.00 (+43%) CC-Safe ▾ | $+607,104 | |
| Sep '27 (458d) | +$280C −$240P +$215P | 51 | +0.506/sh | +2,580 | $47,940 | $175,440 ▲ | $129,464 | $-270/d | BE $289.40 (+38%) CC-Safe ▾ | $+661,164 | |
| Dec '27 (549d) | +$290C −$240P +$215P | 51 | +0.507/sh | +2,586 | $59,670 | $187,170 ▲ | $136,406 | $-254/d | BE $301.70 (+44%) CC-Safe ▾ | $+598,434 | |
| Jan '28 (584d) | +$290C −$240P +$215P | 51 | +0.518/sh | +2,640 | $68,340 | $195,840 ▲ | $141,058 | $-233/d | BE $303.40 (+45%) CC-Safe ▾ | $+589,764 | |
| Jun '28 (731d) | +$255C −$240P +$215P | 51 | +0.632/sh | +3,224 | $150,450 | $277,950 ▲ | $182,350 | $-227/d | BE $284.50 (+36%) CC-Safe ▾ | $+686,154 | |
| Dec '28 (913d) | +$200C −$240P +$210P | 51 | +0.801/sh | +4,088 | $271,830 | $424,830 ▲ | $231,217 | $-189/d | BE $253.30 (+21%) CC-Safe ▾ | $+845,274 |
Margin = real IBKR portfolio (TIMS) maintenance margin from a whatIf order on the 3-leg open combo (BUY LC / SELL SP / BUY HP), the same engine TWS shows. This is the ongoing capital held; the one-time initial requirement to open is higher. Stored at the analyzed contract count and rescaled linearly by the dropdown (TIMS has mild concentration non-linearity, so verify the exact figure in TWS before sizing). For net-long Bucket A synthetics this runs well above the old Reg-T put-spread width, which ignored the long call's directional risk.
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-99,450 | +0% |
| -25% | $157.14 | $-99,450 | +0% |
| +0% | $209.52 | $-99,450 | +0% |
| +25% | $261.90 | $+28,050 | +0% |
| +50% | $314.28 | $+75,378 | +0% |
| +75% | $366.66 | $+342,516 | +0% |
| +100% | $419.04 | $+609,654 | +0% |
| +125% | $471.42 | $+876,792 | +0% |
| +150% | $523.80 | $+1,143,930 | +0% |
| +175% | $576.18 | $+1,411,068 | +0% |
| +200% | $628.56 | $+1,678,206 | +0% |
| +225% | $680.94 | $+1,945,344 | +0% |
| +250% | $733.32 | $+2,212,482 | +0% |
| +275% | $785.70 | $+2,479,620 | +0% |
| +300% | $838.08 | $+2,746,758 | +0% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-127,500 | +0% |
| -25% | $157.14 | $-127,500 | +0% |
| +0% | $209.52 | $-127,500 | +0% |
| +25% | $261.90 | $+0 | +0% |
| +50% | $314.28 | $+72,828 | +0% |
| +75% | $366.66 | $+339,966 | +0% |
| +100% | $419.04 | $+607,104 | +0% |
| +125% | $471.42 | $+874,242 | +0% |
| +150% | $523.80 | $+1,141,380 | +0% |
| +175% | $576.18 | $+1,408,518 | +0% |
| +200% | $628.56 | $+1,675,656 | +0% |
| +225% | $680.94 | $+1,942,794 | +0% |
| +250% | $733.32 | $+2,209,932 | +0% |
| +275% | $785.70 | $+2,477,070 | +0% |
| +300% | $838.08 | $+2,744,208 | +0% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-175,440 | -366% |
| -25% | $157.14 | $-175,440 | -366% |
| +0% | $209.52 | $-175,440 | -366% |
| +25% | $261.90 | $-47,940 | -100% |
| +50% | $314.28 | $+126,888 | +265% |
| +75% | $366.66 | $+394,026 | +822% |
| +100% | $419.04 | $+661,164 | +1379% |
| +125% | $471.42 | $+928,302 | +1936% |
| +150% | $523.80 | $+1,195,440 | +2494% |
| +175% | $576.18 | $+1,462,578 | +3051% |
| +200% | $628.56 | $+1,729,716 | +3608% |
| +225% | $680.94 | $+1,996,854 | +4165% |
| +250% | $733.32 | $+2,263,992 | +4723% |
| +275% | $785.70 | $+2,531,130 | +5280% |
| +300% | $838.08 | $+2,798,268 | +5837% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-187,170 | -314% |
| -25% | $157.14 | $-187,170 | -314% |
| +0% | $209.52 | $-187,170 | -314% |
| +25% | $261.90 | $-59,670 | -100% |
| +50% | $314.28 | $+64,158 | +108% |
| +75% | $366.66 | $+331,296 | +555% |
| +100% | $419.04 | $+598,434 | +1003% |
| +125% | $471.42 | $+865,572 | +1451% |
| +150% | $523.80 | $+1,132,710 | +1898% |
| +175% | $576.18 | $+1,399,848 | +2346% |
| +200% | $628.56 | $+1,666,986 | +2794% |
| +225% | $680.94 | $+1,934,124 | +3241% |
| +250% | $733.32 | $+2,201,262 | +3689% |
| +275% | $785.70 | $+2,468,400 | +4137% |
| +300% | $838.08 | $+2,735,538 | +4584% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-195,840 | -287% |
| -25% | $157.14 | $-195,840 | -287% |
| +0% | $209.52 | $-195,840 | -287% |
| +25% | $261.90 | $-68,340 | -100% |
| +50% | $314.28 | $+55,488 | +81% |
| +75% | $366.66 | $+322,626 | +472% |
| +100% | $419.04 | $+589,764 | +863% |
| +125% | $471.42 | $+856,902 | +1254% |
| +150% | $523.80 | $+1,124,040 | +1645% |
| +175% | $576.18 | $+1,391,178 | +2036% |
| +200% | $628.56 | $+1,658,316 | +2427% |
| +225% | $680.94 | $+1,925,454 | +2817% |
| +250% | $733.32 | $+2,192,592 | +3208% |
| +275% | $785.70 | $+2,459,730 | +3599% |
| +300% | $838.08 | $+2,726,868 | +3990% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-277,950 | -185% |
| -25% | $157.14 | $-277,950 | -185% |
| +0% | $209.52 | $-277,950 | -185% |
| +25% | $261.90 | $-115,260 | -77% |
| +50% | $314.28 | $+151,878 | +101% |
| +75% | $366.66 | $+419,016 | +279% |
| +100% | $419.04 | $+686,154 | +456% |
| +125% | $471.42 | $+953,292 | +634% |
| +150% | $523.80 | $+1,220,430 | +811% |
| +175% | $576.18 | $+1,487,568 | +989% |
| +200% | $628.56 | $+1,754,706 | +1166% |
| +225% | $680.94 | $+2,021,844 | +1344% |
| +250% | $733.32 | $+2,288,982 | +1521% |
| +275% | $785.70 | $+2,556,120 | +1699% |
| +300% | $838.08 | $+2,823,258 | +1877% |
| Move | Stock at | P&L (expiry) | ROI on IC |
|---|---|---|---|
| -50% | $104.76 | $-424,830 | -156% |
| -25% | $157.14 | $-424,830 | -156% |
| +0% | $209.52 | $-376,278 | -138% |
| +25% | $261.90 | $+43,860 | +16% |
| +50% | $314.28 | $+310,998 | +114% |
| +75% | $366.66 | $+578,136 | +213% |
| +100% | $419.04 | $+845,274 | +311% |
| +125% | $471.42 | $+1,112,412 | +409% |
| +150% | $523.80 | $+1,379,550 | +508% |
| +175% | $576.18 | $+1,646,688 | +606% |
| +200% | $628.56 | $+1,913,826 | +704% |
| +225% | $680.94 | $+2,180,964 | +802% |
| +250% | $733.32 | $+2,448,102 | +901% |
| +275% | $785.70 | $+2,715,240 | +999% |
| +300% | $838.08 | $+2,982,378 | +1097% |