LEAPS Builder v6.0
USAR $20,000 [itm], MP $20,000 [itm], UAMY $20,000 [itm] | 2026-05-04 18:57:58
USAR @ $26.69
Sizing: $20,000 (Deep ITM Only) | Chains: Sep 2026 (137d), Dec 2026 (228d), Jan 2027 (256d), Jan 2028 (627d)
Breakout Mode: 6-month horizon, sigma-targets: +34%, +67%, +101%, +135%, +202% (IV 95%) ($20,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | Delta | IC | BE | Theta | Score |
|---|
| Sep '26 (137d) | Fortress | $23C/$29P/$22P | 18 | +0.535/sh (+964) | $7,380 | $28.05 (+5%) | $-30/d | 1.74 |
| Dec '26 (228d) | Fortress | $20C/$29P/$19P | 13 | +0.587/sh (+763) | $6,890 | $27.15 (+2%) | $-13/d | 1.89 |
| Jan '27 (256d) | Fortress | $20C/$29P/$21P | 14 | +0.637/sh (+891) | $8,680 | $27.60 (+3%) | $-14/d | 1.96 |
| ★ | Jan '27 (256d) | Pure | $20C | 18 | +0.781/sh (+1,407) | $19,620 | $30.90 (+16%) | $-23/d | 2.03 |
| Jan '28 (627d) | Fortress | $12C/$27P/$12P | 8 | +0.736/sh (+589) | $7,560 | $24.23 (-9%) | $-1/d | 1.47 |
| Now | Stock | 749 sh @ $26.69 | 749 | +1.000/sh (+749) | $19,991 | $26.69 (+0%) | $0/d | 1.16 |
★ = highest breakout score across Fortress, Pure, and Stock baseline (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: $20C / $29P / $21P (Jan '27, 256d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $20.0C | $10.90 | +0.781 |
| SP | SELL | $29.0P | $9.50 | -0.385 |
| HP | BUY | $21.0P | $4.80 | +0.240 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 14 |
+0.637/sh (+891) |
$8,680 | $19,880 |
$27.60 (+3%) | $-14/d |
4.3x | 1.96 | +438% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.96 | 2.03 | PURE (-3%) |
| Contracts | 14 | 18 | PURE (-22%) |
| IC (capital) | $8,680 | $19,620 | FORT (-56%) |
| Max Loss | $19,880 | $19,620 | PURE (+1%) |
| Breakeven | $27.60 | $30.90 | FORT (-11%) |
| Theta/day | $-14 | $-23 | FORT (-38%) |
| ROIC@+25% | 116% | 23% | FORT (+411%) |
Pure scores 3% 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))
| sigma | Move | Price | Weight |
Fortress 14ct | Pure 18ct | Stock 749sh | Winner |
|---|
| 0.5sigma | +34% | $35.68 | 10% | $+13,268 | $+8,599 | $+6,731 | (Fort) |
| 1sigma | +67% | $44.66 | 20% | $+25,850 | $+24,776 | $+13,463 | (Fort) |
| 1.5sigma | +101% | $53.65 | 25% | $+38,432 | $+40,953 | $+20,194 | (Pure) |
| 2sigma | +135% | $62.64 | 25% | $+51,014 | $+57,130 | $+26,926 | (Pure) |
| 3sigma | +202% | $80.61 | 20% | $+76,179 | $+89,484 | $+40,389 | (Pure) |
| Weighted average P&L | 100% |
$+44,094 |
$+48,233 |
$+23,223 |
(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)
| Stop | Stock at |
Fortress 14ct | Pure 18ct | Stock 749sh | |
|---|
| -5% | $25.36 | -$1,189 | -$1,877 | -$1,000 | |
| -10% | $24.02 | -$2,379 | -$3,754 | -$1,999 | |
| -15% | $22.69 | -$3,568 | -$5,631 | -$2,999 | |
| -20% | $21.35 | -$4,758 | -$7,509 | -$3,998 | |
| -30% | $18.68 | -$7,137 | -$11,263 | -$5,997 | |
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
| Move | Price | Fortress 14ct Jan'27 | Pure 18ct Jan'27 | Stock 749sh | F-P Diff | Winner |
|---|
| -19% | $21 | $-17,494 | $-17,186 | $-3,998 | $-308 | (Stock) |
| +0% | $27 | $-2,548 | $-7,578 | $0 | $+5,030 | (Stock) |
| +25% | $33 | $+10,028 | $+4,433 | $+4,998 | $+5,595 | (Fort) |
| +50% | $40 | $+19,369 | $+16,443 | $+9,995 | $+2,926 | (Fort) |
| +75% | $47 | $+28,711 | $+28,454 | $+14,993 | $+257 | (Fort) |
| +100% | $53 | $+38,052 | $+40,464 | $+19,991 | $-2,412 | (Pure) |
| +200% | $80 | $+75,418 | $+88,506 | $+39,982 | $-13,088 | (Pure) |
MP @ $67.77
Sizing: $20,000 (Deep ITM Only) | Chains: Sep 2026 (137d), Dec 2026 (228d), Jan 2027 (256d), Mar 2027 (319d), Dec 2027 (592d), Jan 2028 (627d)
Breakout Mode: 6-month horizon, sigma-targets: +24%, +48%, +71%, +95%, +143% (IV 67%) ($20,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | Delta | IC | BE | Theta | Score |
|---|
| Sep '26 (137d) | Fortress | $60C/$70P/$60P | 9 | +0.550/sh (+495) | $9,180 | $70.20 (+4%) | $-31/d | 1.62 |
| Dec '26 (228d) | Fortress | $55C/$70P/$60P | 7 | +0.641/sh (+448) | $11,445 | $71.35 (+5%) | $-18/d | 1.68 |
| Jan '27 (256d) | Fortress | $55C/$70P/$60P | 7 | +0.647/sh (+453) | $11,305 | $71.15 (+5%) | $-17/d | 1.72 |
| ★ | Jan '27 (256d) | Pure | $55C | 9 | +0.749/sh (+674) | $19,170 | $76.30 (+13%) | $-24/d | 1.81 |
| Mar '27 (319d) | Fortress | $50C/$70P/$45P | 5 | +0.563/sh (+282) | $7,375 | $67.38 (-1%) | $-8/d | 1.38 |
| Dec '27 (592d) | Fortress | $40C/$70P/$47P | 4 | +0.706/sh (+283) | $10,200 | $67.75 (-0%) | $-4/d | 1.15 |
| Jan '28 (627d) | Fortress | $45C/$70P/$60P | 5 | +0.768/sh (+384) | $14,450 | $73.90 (+9%) | $-6/d | 1.20 |
| Now | Stock | 295 sh @ $67.77 | 295 | +1.000/sh (+295) | $19,992 | $67.77 (+0%) | $0/d | 0.8209 |
★ = highest breakout score across Fortress, Pure, and Stock baseline (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: $55C / $70P / $60P (Jan '27, 256d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $55.0C | $21.30 | +0.749 |
| SP | SELL | $70.0P | $16.00 | -0.410 |
| HP | BUY | $60.0P | $10.85 | +0.308 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 7 |
+0.647/sh (+453) |
$11,305 | $18,305 |
$71.15 (+5%) | $-17/d |
4.2x | 1.72 | +399% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.72 | 1.81 | PURE (-5%) |
| Contracts | 7 | 9 | PURE (-22%) |
| IC (capital) | $11,305 | $19,170 | FORT (-41%) |
| Max Loss | $18,305 | $19,170 | FORT (-5%) |
| Breakeven | $71.15 | $76.30 | FORT (-7%) |
| Theta/day | $-17 | $-24 | FORT (-29%) |
| ROIC@+25% | 84% | 39% | FORT (+113%) |
Pure scores 5% 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))
| sigma | Move | Price | Weight |
Fortress 7ct | Pure 9ct | Stock 295sh | Winner |
|---|
| 0.5sigma | +24% | $83.90 | 10% | $+8,922 | $+6,836 | $+4,757 | (Fort) |
| 1sigma | +48% | $100.02 | 20% | $+20,210 | $+21,350 | $+9,514 | (Pure) |
| 1.5sigma | +71% | $116.15 | 25% | $+31,498 | $+35,863 | $+14,271 | (Pure) |
| 2sigma | +95% | $132.27 | 25% | $+42,786 | $+50,376 | $+19,029 | (Pure) |
| 3sigma | +143% | $164.53 | 20% | $+65,363 | $+79,403 | $+28,543 | (Pure) |
| Weighted average P&L | 100% |
$+36,578 |
$+42,394 |
$+16,412 |
(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)
| Stop | Stock at |
Fortress 7ct | Pure 9ct | Stock 295sh | |
|---|
| -5% | $64.38 | -$1,535 | -$2,284 | -$1,000 | |
| -10% | $60.99 | -$3,069 | -$4,568 | -$1,999 | |
| -15% | $57.60 | -$4,604 | -$6,852 | -$2,999 | |
| -20% | $54.22 | -$6,139 | -$9,137 | -$3,998 | |
| -30% | $47.44 | -$9,208 | -$13,705 | -$5,998 | |
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
| Move | Price | Fortress 7ct Jan'27 | Pure 9ct Jan'27 | Stock 295sh | F-P Diff | Winner |
|---|
| -19% | $54 | $-18,305 | $-19,170 | $-3,998 | $+865 | (Stock) |
| +0% | $68 | $-3,927 | $-7,677 | $0 | $+3,750 | (Stock) |
| +25% | $85 | $+9,494 | $+7,571 | $+4,998 | $+1,922 | (Fort) |
| +50% | $102 | $+21,354 | $+22,820 | $+9,996 | $-1,466 | (Pure) |
| +75% | $119 | $+33,213 | $+38,068 | $+14,994 | $-4,854 | (Pure) |
| +100% | $136 | $+45,073 | $+53,316 | $+19,992 | $-8,243 | (Pure) |
| +200% | $203 | $+92,512 | $+114,309 | $+39,984 | $-21,797 | (Pure) |
UAMY @ $12.11
Sizing: $20,000 (Deep ITM Only) | Chains: Aug 2026 (109d), Nov 2026 (200d), Jan 2027 (256d), Jan 2028 (627d)
Breakout Mode: 6-month horizon, sigma-targets: +41%, +82%, +122%, +163%, +245% (IV 115%) ($20,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | Delta | IC | BE | Theta | Score |
|---|
| Aug '26 (109d) | Fortress | $10C/$12.5P/$10P | 36 | +0.614/sh (+2,210) | $10,800 | $13.00 (+7%) | $-37/d | 1.48 |
| Nov '26 (200d) | Fortress | $10C/$12.5P/$7.5P | 25 | +0.572/sh (+1,431) | $7,125 | $12.85 (+6%) | $-14/d | 1.84 |
| Jan '27 (256d) | Fortress | $10C/$10P/$7.5P | 29 | +0.678/sh (+1,966) | $12,615 | $14.35 (+18%) | $-18/d | 1.86 |
| ★ | Jan '27 (256d) | Pure | $10C | 36 | +0.762/sh (+2,742) | $19,800 | $15.50 (+28%) | $-27/d | 2.00 |
| Jan '28 (627d) | Fortress | $5C/$12.5P/$7.5P | 17 | +0.824/sh (+1,400) | $10,710 | $11.90 (-2%) | $-3/d | 1.54 |
| Now | Stock | 1,651 sh @ $12.11 | 1,651 | +1.000/sh (+1,651) | $19,994 | $12.11 (+0%) | $0/d | 1.41 |
★ = highest breakout score across Fortress, Pure, and Stock baseline (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: $10C / $10P / $7.5P (Jan '27, 256d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $10.0C | $5.50 | +0.762 |
| SP | SELL | $10.0P | $2.90 | -0.241 |
| HP | BUY | $7.5P | $1.75 | +0.158 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 29 |
+0.678/sh (+1,966) |
$12,615 | $19,865 |
$14.35 (+18%) | $-18/d |
2.8x | 1.86 | +227% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.86 | 2.00 | PURE (-7%) |
| Contracts | 29 | 36 | PURE (-19%) |
| IC (capital) | $12,615 | $19,800 | FORT (-36%) |
| Max Loss | $19,865 | $19,800 | TIE |
| Breakeven | $14.35 | $15.50 | FORT (-7%) |
| Theta/day | $-18 | $-27 | FORT (-33%) |
| ROIC@+25% | 18% | -7% | FORT (+375%) |
Pure scores 7% 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))
| sigma | Move | Price | Weight |
Fortress 29ct | Pure 36ct | Stock 1,651sh | Winner |
|---|
| 0.5sigma | +41% | $17.05 | 10% | $+7,828 | $+5,578 | $+8,155 | (Stock) |
| 1sigma | +82% | $21.99 | 20% | $+22,152 | $+23,359 | $+16,310 | (Pure) |
| 1.5sigma | +122% | $26.93 | 25% | $+36,476 | $+41,141 | $+24,464 | (Pure) |
| 2sigma | +163% | $31.87 | 25% | $+50,800 | $+58,922 | $+32,619 | (Pure) |
| 3sigma | +245% | $41.75 | 20% | $+79,448 | $+94,485 | $+48,929 | (Pure) |
| Weighted average P&L | 100% |
$+42,922 |
$+49,142 |
$+28,134 |
(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)
| Stop | Stock at |
Fortress 29ct | Pure 36ct | Stock 1,651sh | |
|---|
| -5% | $11.50 | -$1,191 | -$1,660 | -$1,000 | |
| -10% | $10.90 | -$2,381 | -$3,321 | -$1,999 | |
| -15% | $10.29 | -$3,572 | -$4,981 | -$2,999 | |
| -20% | $9.69 | -$4,763 | -$6,642 | -$3,999 | |
| -30% | $8.48 | -$7,144 | -$9,963 | -$5,998 | |
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
| Move | Price | Fortress 29ct Jan'27 | Pure 36ct Jan'27 | Stock 1,651sh | F-P Diff | Winner |
|---|
| -19% | $10 | $-13,520 | $-19,800 | $-3,999 | $+6,280 | (Stock) |
| +0% | $12 | $-6,496 | $-12,204 | $0 | $+5,708 | (Stock) |
| +25% | $15 | $+2,284 | $-1,305 | $+4,998 | $+3,589 | (Stock) |
| +50% | $18 | $+11,063 | $+9,594 | $+9,997 | $+1,470 | (Fort) |
| +75% | $21 | $+19,843 | $+20,493 | $+14,995 | $-650 | (Pure) |
| +100% | $24 | $+28,623 | $+31,392 | $+19,994 | $-2,769 | (Pure) |
| +200% | $36 | $+63,742 | $+74,988 | $+39,987 | $-11,246 | (Pure) |
LEAPS Builder v6.0 | 2026-05-04 18:57:58