| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Jan '28 (644d) | Fortress | $285C/$770P/$145P | 10 | $346,030 | $700.51 (-0%) | $+5/d | 511,204 | |
| Jun '28 (791d) | Fortress | $285C/$770P/$145P | 10 | $345,430 | $700.22 (-0%) | $+5/d | 567,435 | |
| ★ | Dec '28 (973d) | Fortress | $290C/$770P/$150P | 10 | $339,680 | $699.84 (-0%) | $+5/d | 630,563 |
| Dec '28 (973d) | Pure | $290C | 10 | $434,730 | $724.73 (+3%) | $-23/d | 517,522 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $290.0C | $434.73 | +0.946 |
| SP | SELL | $770.0P | $96.31 | +0.422 |
| HP | BUY | $150.0P | $1.26 | -0.010 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 10 | $339,680 | $959,680 | $699.84 (-0%) | $+5/d | 2.1x | 630,563 | +228% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 630,563 | 517,522 | FORT (+22%) |
| Contracts | 10 | 10 | TIE |
| IC (capital) | $339,680 | $434,730 | FORT (-22%) |
| Max Loss | $959,680 | $434,730 | PURE (+121%) |
| Breakeven | $699.84 | $724.73 | FORT (-3%) |
| Theta/day | $5 | $-23 | FORT (-78%) |
| ROIC@+25% | 73% | 35% | FORT (+107%) |
Fortress scores +22% from IC saving ($95,050). BUT max loss is +121% higher than pure ($959,680 vs $434,730). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 10ct Dec'28 | Pure 10ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $562 | $-276,048 | $-162,914 | $-113,134 | (Pure) |
| +0% | $702 | $+4,860 | $-22,460 | $+27,320 | (Fort) |
| +25% | $878 | $+248,158 | $+153,108 | $+95,050 | (Fort) |
| +50% | $1,053 | $+423,725 | $+328,675 | $+95,050 | (Fort) |
| +75% | $1,229 | $+599,292 | $+504,242 | $+95,050 | (Fort) |
| +100% | $1,405 | $+774,860 | $+679,810 | $+95,050 | (Fort) |
| +200% | $2,107 | $+1,477,130 | $+1,382,080 | $+95,050 | (Fort) |
No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Jan '28 (644d) | Fortress | $635C/$805P/$145P | 10 | $31,720 | $735.86 (+5%) | $-104/d | 840,576 | |
| Jun '28 (791d) | Fortress | $635C/$805P/$145P | 10 | $41,450 | $740.73 (+5%) | $-97/d | 917,261 | |
| ★ | Dec '28 (973d) | Fortress | $635C/$805P/$150P | 10 | $48,850 | $744.42 (+6%) | $-87/d | 1,005,246 |
| Dec '28 (973d) | Pure | $635C | 10 | $163,500 | $798.50 (+14%) | $-99/d | 841,588 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $635.0C | $163.50 | +0.694 |
| SP | SELL | $805.0P | $115.91 | +0.450 |
| HP | BUY | $150.0P | $1.26 | -0.010 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 10 | $48,850 | $703,850 | $744.42 (+6%) | $-87/d | 14.4x | 1,005,246 | +1475% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 1,005,246 | 841,588 | FORT (+19%) |
| Contracts | 10 | 10 | TIE |
| IC (capital) | $48,850 | $163,500 | FORT (-70%) |
| Max Loss | $703,850 | $163,500 | PURE (+330%) |
| Breakeven | $744.42 | $798.50 | FORT (-7%) |
| Theta/day | $-87 | $-99 | FORT (-12%) |
| ROIC@+25% | 397% | 49% | FORT (+718%) |
Fortress scores +19% from IC saving ($114,650). BUT max loss is +330% higher than pure ($703,850 vs $163,500). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 10ct Dec'28 | Pure 10ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $562 | $-292,034 | $-163,500 | $-128,534 | (Pure) |
| +0% | $702 | $-84,310 | $-96,230 | $+11,920 | (Fort) |
| +25% | $878 | $+193,987 | $+79,337 | $+114,650 | (Fort) |
| +50% | $1,053 | $+369,555 | $+254,905 | $+114,650 | (Fort) |
| +75% | $1,229 | $+545,122 | $+430,472 | $+114,650 | (Fort) |
| +100% | $1,405 | $+720,690 | $+606,040 | $+114,650 | (Fort) |
| +200% | $2,107 | $+1,422,960 | $+1,308,310 | $+114,650 | (Fort) |
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Dec '27 (609d) | Fortress | $110C/$295P/$95P | 20 | $259,447 | $267.36 (-1%) | $+14/d | 392,477 | |
| Jan '28 (644d) | Fortress | $120C/$295P/$125P | 20 | $243,420 | $268.36 (-1%) | $+13/d | 398,320 | |
| ★ | Dec '28 (973d) | Fortress | $125C/$295P/$125P | 20 | $238,000 | $269.50 (-0%) | $+4/d | 482,127 |
| Dec '28 (973d) | Pure | $125C | 20 | $312,000 | $281.00 (+4%) | $-22/d | 392,689 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $125.0C | $156.00 | +0.929 |
| SP | SELL | $295.0P | $42.50 | +0.418 |
| HP | BUY | $125.0P | $5.50 | -0.071 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 20 | $238,000 | $578,000 | $269.50 (-0%) | $+4/d | 2.3x | 482,127 | +250% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 482,127 | 392,689 | FORT (+23%) |
| Contracts | 20 | 20 | TIE |
| IC (capital) | $238,000 | $312,000 | FORT (-24%) |
| Max Loss | $578,000 | $312,000 | PURE (+85%) |
| Breakeven | $269.50 | $281.00 | FORT (-4%) |
| Theta/day | $4 | $-22 | FORT (-81%) |
| ROIC@+25% | 79% | 37% | FORT (+116%) |
Fortress scores +23% from IC saving ($74,000). BUT max loss is +85% higher than pure ($578,000 vs $312,000). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 20ct Dec'28 | Pure 20ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $216 | $-212,368 | $-129,184 | $-83,184 | (Pure) |
| +0% | $271 | $+4,040 | $-20,980 | $+25,020 | (Fort) |
| +25% | $338 | $+188,275 | $+114,275 | $+74,000 | (Fort) |
| +50% | $406 | $+323,530 | $+249,530 | $+74,000 | (Fort) |
| +75% | $473 | $+458,785 | $+384,785 | $+74,000 | (Fort) |
| +100% | $541 | $+594,040 | $+520,040 | $+74,000 | (Fort) |
| +200% | $812 | $+1,135,060 | $+1,061,060 | $+74,000 | (Fort) |
No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Dec '27 (609d) | Fortress | $245C/$310P/$95P | 20 | $20,827 | $282.71 (+5%) | $-80/d | 633,411 | |
| Jan '28 (644d) | Fortress | $245C/$310P/$125P | 20 | $24,420 | $283.61 (+5%) | $-81/d | 646,586 | |
| ★ | Dec '28 (973d) | Fortress | $245C/$310P/$125P | 20 | $42,000 | $288.00 (+6%) | $-72/d | 766,063 |
| Dec '28 (973d) | Pure | $245C | 20 | $133,000 | $311.50 (+15%) | $-84/d | 635,594 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $245.0C | $66.50 | +0.693 |
| SP | SELL | $310.0P | $51.00 | +0.450 |
| HP | BUY | $125.0P | $5.50 | -0.071 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 20 | $42,000 | $412,000 | $288.00 (+6%) | $-72/d | 12.9x | 766,063 | +1310% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 766,063 | 635,594 | FORT (+21%) |
| Contracts | 20 | 20 | TIE |
| IC (capital) | $42,000 | $133,000 | FORT (-68%) |
| Max Loss | $412,000 | $133,000 | PURE (+210%) |
| Breakeven | $288.00 | $311.50 | FORT (-8%) |
| Theta/day | $-72 | $-84 | FORT (-15%) |
| ROIC@+25% | 344% | 40% | FORT (+758%) |
Fortress scores +21% from IC saving ($91,000). BUT max loss is +210% higher than pure ($412,000 vs $133,000). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 20ct Dec'28 | Pure 20ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $216 | $-229,184 | $-133,000 | $-96,184 | (Pure) |
| +0% | $271 | $-69,960 | $-81,980 | $+12,020 | (Fort) |
| +25% | $338 | $+144,275 | $+53,275 | $+91,000 | (Fort) |
| +50% | $406 | $+279,530 | $+188,530 | $+91,000 | (Fort) |
| +75% | $473 | $+414,785 | $+323,785 | $+91,000 | (Fort) |
| +100% | $541 | $+550,040 | $+459,040 | $+91,000 | (Fort) |
| +200% | $812 | $+1,091,060 | $+1,000,060 | $+91,000 | (Fort) |
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Dec '27 (609d) | Fortress | $25C/$60P/$20P | 50 | $140,315 | $56.53 (-0%) | $-23/d | 189,401 | |
| Jan '28 (644d) | Fortress | $25C/$60P/$22P | 50 | $140,850 | $56.59 (-0%) | $+1/d | 194,056 | |
| ★ | Dec '28 (973d) | Fortress | $25C/$60P/$25P | 50 | $130,650 | $55.56 (-2%) | $-55/d | 255,183 |
| Dec '28 (973d) | Pure | $25C | 50 | $170,000 | $59.00 (+4%) | $-56/d | 204,341 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $25.0C | $34.00 | +0.989 |
| SP | SELL | $60.0P | $8.80 | -0.469 |
| HP | BUY | $25.0P | $0.93 | +0.039 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 50 | $130,650 | $305,650 | $55.56 (-2%) | $-55/d | 2.2x | 255,183 | +238% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 255,183 | 204,341 | FORT (+25%) |
| Contracts | 50 | 50 | TIE |
| IC (capital) | $130,650 | $170,000 | FORT (-23%) |
| Max Loss | $305,650 | $170,000 | PURE (+80%) |
| Breakeven | $55.56 | $59.00 | FORT (-6%) |
| Theta/day | $-55 | $-56 | FORT (-2%) |
| ROIC@+25% | 75% | 35% | FORT (+117%) |
Fortress scores +25% from IC saving ($39,350). BUT max loss is +80% higher than pure ($305,650 vs $170,000). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 50ct Dec'28 | Pure 50ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $45 | $-102,450 | $-68,400 | $-34,050 | (Pure) |
| +0% | $57 | $+10,850 | $-11,750 | $+22,600 | (Fort) |
| +25% | $71 | $+98,412 | $+59,062 | $+39,350 | (Fort) |
| +50% | $85 | $+169,225 | $+129,875 | $+39,350 | (Fort) |
| +75% | $99 | $+240,038 | $+200,688 | $+39,350 | (Fort) |
| +100% | $113 | $+310,850 | $+271,500 | $+39,350 | (Fort) |
| +200% | $170 | $+594,100 | $+554,750 | $+39,350 | (Fort) |
No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Dec '27 (609d) | Fortress | $52C/$65P/$20P | 50 | $12,565 | $60.01 (+6%) | $-36/d | 322,053 | |
| Jan '28 (644d) | Fortress | $55C/$65P/$22P | 50 | $-150 | $59.98 (+6%) | $-40/d | 332,156 | |
| ★ | Dec '28 (973d) | Fortress | $51C/$65P/$25P | 50 | $18,150 | $59.81 (+6%) | $-37/d | 409,692 |
| Dec '28 (973d) | Pure | $51C | 50 | $63,500 | $63.70 (+12%) | $-34/d | 345,183 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $51.0C | $12.70 | +0.709 |
| SP | SELL | $65.0P | $10.00 | -0.566 |
| HP | BUY | $25.0P | $0.93 | +0.039 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 50 | $18,150 | $218,150 | $59.81 (+6%) | $-37/d | 15.6x | 409,692 | +1616% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 409,692 | 345,183 | FORT (+19%) |
| Contracts | 50 | 50 | TIE |
| IC (capital) | $18,150 | $63,500 | FORT (-71%) |
| Max Loss | $218,150 | $63,500 | PURE (+244%) |
| Breakeven | $59.81 | $63.70 | FORT (-6%) |
| Theta/day | $-37 | $-34 | PURE (+8%) |
| ROIC@+25% | 446% | 56% | FORT (+696%) |
Fortress scores +19% from IC saving ($45,350). BUT max loss is +244% higher than pure ($218,150 vs $63,500). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 50ct Dec'28 | Pure 50ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $45 | $-116,550 | $-63,500 | $-53,050 | (Pure) |
| +0% | $57 | $-31,650 | $-35,250 | $+3,600 | (Fort) |
| +25% | $71 | $+80,912 | $+35,562 | $+45,350 | (Fort) |
| +50% | $85 | $+151,725 | $+106,375 | $+45,350 | (Fort) |
| +75% | $99 | $+222,538 | $+177,188 | $+45,350 | (Fort) |
| +100% | $113 | $+293,350 | $+248,000 | $+45,350 | (Fort) |
| +200% | $170 | $+576,600 | $+531,250 | $+45,350 | (Fort) |
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Jan '27 (273d) | Fortress | $55C/$89P/$45P | 50 | $108,550 | $82.86 (+2%) | $-39/d | 179,072 | |
| Jun '27 (426d) | Fortress | $50C/$89P/$45P | 50 | $138,078 | $83.31 (+2%) | $-62/d | 218,801 | |
| ★ | Jan '28 (644d) | Fortress | $40C/$89P/$40P | 50 | $182,920 | $82.79 (+1%) | $-36/d | 275,872 |
| Jan '28 (644d) | Pure | $40C | 50 | $220,000 | $84.00 (+3%) | $-18/d | 245,903 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $40.0C | $44.00 | +0.976 |
| SP | SELL | $89.0P | $7.50 | -0.637 |
| HP | BUY | $40.0P | $0.08 | +0.041 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 50 | $182,920 | $427,920 | $82.79 (+1%) | $-36/d | 2.2x | 275,872 | +237% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 275,872 | 245,903 | FORT (+12%) |
| Contracts | 50 | 50 | TIE |
| IC (capital) | $182,920 | $220,000 | FORT (-17%) |
| Max Loss | $427,920 | $220,000 | PURE (+95%) |
| Breakeven | $82.79 | $84.00 | FORT (-1%) |
| Theta/day | $-36 | $-18 | PURE (+99%) |
| ROIC@+25% | 69% | 41% | FORT (+70%) |
Fortress scores +12% from IC saving ($37,080). BUT max loss is +95% higher than pure ($427,920 vs $220,000). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 50ct Jan'28 | Pure 50ct Jan'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $65 | $-175,200 | $-93,640 | $-81,560 | (Pure) |
| +0% | $82 | $-12,020 | $-12,050 | $+30 | (Fort) |
| +25% | $102 | $+127,018 | $+89,938 | $+37,080 | (Fort) |
| +50% | $122 | $+229,005 | $+191,925 | $+37,080 | (Fort) |
| +75% | $143 | $+330,992 | $+293,912 | $+37,080 | (Fort) |
| +100% | $163 | $+432,980 | $+395,900 | $+37,080 | (Fort) |
| +200% | $245 | $+840,930 | $+803,850 | $+37,080 | (Fort) |
No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Jan '27 (273d) | Fortress | $75C/$93P/$45P | 50 | $8,050 | $84.81 (+4%) | $-81/d | 322,005 | |
| Jun '27 (426d) | Fortress | $74C/$93P/$45P | 50 | $18,078 | $85.31 (+5%) | $-76/d | 396,584 | |
| ★ | Jan '28 (644d) | Fortress | $75C/$93P/$40P | 50 | $15,170 | $85.52 (+5%) | $-66/d | 485,108 |
| Jan '28 (644d) | Pure | $75C | 50 | $64,750 | $87.95 (+8%) | $-47/d | 430,082 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $75.0C | $12.95 | +0.718 |
| SP | SELL | $93.0P | $10.00 | -0.744 |
| HP | BUY | $40.0P | $0.08 | +0.041 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 50 | $15,170 | $280,170 | $85.52 (+5%) | $-66/d | 26.9x | 485,108 | +2806% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 485,108 | 430,082 | FORT (+13%) |
| Contracts | 50 | 50 | TIE |
| IC (capital) | $15,170 | $64,750 | FORT (-77%) |
| Max Loss | $280,170 | $64,750 | PURE (+333%) |
| Breakeven | $85.52 | $87.95 | FORT (-3%) |
| Theta/day | $-66 | $-47 | PURE (+41%) |
| ROIC@+25% | 790% | 108% | FORT (+628%) |
Fortress scores +13% from IC saving ($49,580). BUT max loss is +333% higher than pure ($280,170 vs $64,750). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 50ct Jan'28 | Pure 50ct Jan'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $65 | $-153,810 | $-64,750 | $-89,060 | (Pure) |
| +0% | $82 | $-39,270 | $-31,800 | $-7,470 | (Pure) |
| +25% | $102 | $+119,768 | $+70,188 | $+49,580 | (Fort) |
| +50% | $122 | $+221,755 | $+172,175 | $+49,580 | (Fort) |
| +75% | $143 | $+323,742 | $+274,162 | $+49,580 | (Fort) |
| +100% | $163 | $+425,730 | $+376,150 | $+49,580 | (Fort) |
| +200% | $245 | $+833,680 | $+784,100 | $+49,580 | (Fort) |
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Dec '27 (609d) | Fortress | $25C/$55P/$25P | 50 | $126,000 | $52.60 (+1%) | $-3/d | 166,371 | |
| Jan '28 (644d) | Fortress | $30C/$57P/$25P | 50 | $92,955 | $52.80 (+1%) | $-9/d | 179,004 | |
| ★ | Dec '28 (973d) | Fortress | $25C/$57P/$25P | 50 | $119,200 | $52.92 (+1%) | $-8/d | 217,994 |
| Dec '28 (973d) | Pure | $25C | 50 | $151,000 | $55.20 (+6%) | $-15/d | 181,355 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $25.0C | $30.20 | +0.922 |
| SP | SELL | $57.0P | $7.10 | +0.419 |
| HP | BUY | $25.0P | $0.74 | -0.078 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 50 | $119,200 | $279,200 | $52.92 (+1%) | $-8/d | 2.2x | 217,994 | +233% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 217,994 | 181,355 | FORT (+20%) |
| Contracts | 50 | 50 | TIE |
| IC (capital) | $119,200 | $151,000 | FORT (-21%) |
| Max Loss | $279,200 | $151,000 | PURE (+85%) |
| Breakeven | $52.92 | $55.20 | FORT (-4%) |
| Theta/day | $-8 | $-15 | FORT (-52%) |
| ROIC@+25% | 69% | 33% | FORT (+107%) |
Fortress scores +20% from IC saving ($31,800). BUT max loss is +85% higher than pure ($279,200 vs $151,000). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 50ct Dec'28 | Pure 50ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $42 | $-111,680 | $-67,240 | $-44,440 | (Pure) |
| +0% | $52 | $-7,300 | $-15,050 | $+7,750 | (Fort) |
| +25% | $65 | $+81,988 | $+50,188 | $+31,800 | (Fort) |
| +50% | $78 | $+147,225 | $+115,425 | $+31,800 | (Fort) |
| +75% | $91 | $+212,462 | $+180,662 | $+31,800 | (Fort) |
| +100% | $104 | $+277,700 | $+245,900 | $+31,800 | (Fort) |
| +200% | $157 | $+538,650 | $+506,850 | $+31,800 | (Fort) |
No CC candidates found above breakeven. Run live (without --csv) if CC data was not included in the CSV export.
| Chain | Type | Structure | Ct | IC | BE | Theta | Score | |
|---|---|---|---|---|---|---|---|---|
| Dec '27 (609d) | Fortress | $47C/$60P/$25P | 50 | $20,000 | $55.50 (+6%) | $-54/d | 294,212 | |
| Jan '28 (644d) | Fortress | $47C/$60P/$25P | 50 | $16,955 | $55.20 (+6%) | $-47/d | 306,593 | |
| ★ | Dec '28 (973d) | Fortress | $47C/$60P/$25P | 50 | $22,450 | $55.74 (+7%) | $-37/d | 367,885 |
| Dec '28 (973d) | Pure | $47C | 50 | $64,000 | $59.80 (+15%) | $-39/d | 308,909 |
★ = highest score. Score = WSPL x sqrt(DTE/365).
| Leg | Action | Strike | Price | Delta |
|---|---|---|---|---|
| LC | BUY | $47.0C | $12.80 | +0.696 |
| SP | SELL | $60.0P | $9.05 | +0.452 |
| HP | BUY | $25.0P | $0.74 | -0.078 |
| Ct | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|---|---|---|---|---|---|---|
| 50 | $22,450 | $197,450 | $55.74 (+7%) | $-37/d | 11.6x | 367,885 | +1178% |
| Dimension | Fortress | Pure | Winner |
|---|---|---|---|
| Score (WSPL) | 367,885 | 308,909 | FORT (+19%) |
| Contracts | 50 | 50 | TIE |
| IC (capital) | $22,450 | $64,000 | FORT (-65%) |
| Max Loss | $197,450 | $64,000 | PURE (+209%) |
| Breakeven | $55.74 | $59.80 | FORT (-7%) |
| Theta/day | $-37 | $-39 | FORT (-7%) |
| ROIC@+25% | 306% | 42% | FORT (+621%) |
Fortress scores +19% from IC saving ($41,550). BUT max loss is +209% higher than pure ($197,450 vs $64,000). Score advantage comes from capital saved upfront, not raw P&L. Acceptable if you can absorb the larger drawdown.
| Move | Price | Fortress 50ct Dec'28 | Pure 50ct Dec'28 | Diff | Winner |
|---|---|---|---|---|---|
| -19% | $42 | $-113,690 | $-64,000 | $-49,690 | (Pure) |
| +0% | $52 | $-35,550 | $-38,050 | $+2,500 | (Fort) |
| +25% | $65 | $+68,737 | $+27,187 | $+41,550 | (Fort) |
| +50% | $78 | $+133,975 | $+92,425 | $+41,550 | (Fort) |
| +75% | $91 | $+199,212 | $+157,662 | $+41,550 | (Fort) |
| +100% | $104 | $+264,450 | $+222,900 | $+41,550 | (Fort) |
| +200% | $157 | $+525,400 | $+483,850 | $+41,550 | (Fort) |