LEAPS Builder v6.0
USAR $20,000 [itm], MP $20,000 [itm], UAMY $20,000 [itm] | 2026-05-04 20:23:55
USAR @ $27.32
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 (+3%) | $-30/d | 1.61 |
| Dec '26 (228d) | Fortress | $23C/$30P/$19P | 14 | +0.510/sh (+714) | $4,270 | $28.02 (+3%) | $-17/d | 1.81 |
| Jan '27 (256d) | Fortress | $20C/$29P/$21P | 14 | +0.637/sh (+891) | $8,680 | $27.60 (+1%) | $-14/d | 1.82 |
| ★ | Jan '27 (256d) | Pure | $20C | 18 | +0.781/sh (+1,407) | $19,620 | $30.90 (+13%) | $-23/d | 1.85 |
| Jan '28 (627d) | Fortress | $12C/$30P/$12P | 8 | +0.705/sh (+564) | $5,520 | $24.45 (-11%) | $-1/d | 1.45 |
| Now | Stock | 732 sh @ $27.32 | 732 | +1.000/sh (+732) | $19,998 | $27.32 (+0%) | $0/d | 1.03 |
★ = 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 (+1%) | $-14/d |
4.4x | 1.82 | +459% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.82 | 1.85 | PURE (-2%) |
| 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% | 128% | 30% | FORT (+330%) |
Pure scores 2% 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 732sh | Winner |
|---|
| 0.5sigma | +34% | $36.52 | 15% | $+14,447 | $+10,115 | $+6,734 | (Fort) |
| 1sigma | +67% | $45.72 | 20% | $+27,326 | $+26,674 | $+13,468 | (Fort) |
| 1.5sigma | +101% | $54.92 | 25% | $+40,205 | $+43,233 | $+20,202 | (Pure) |
| 2sigma | +135% | $64.12 | 25% | $+53,084 | $+59,791 | $+26,936 | (Pure) |
| 3sigma | +202% | $82.52 | 10% | $+78,843 | $+92,909 | $+40,404 | (Pure) |
| Weighted average P&L | 100% |
$+40,883 |
$+44,104 |
$+20,556 |
(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 732sh | |
|---|
| -5% | $25.95 | -$1,218 | -$1,921 | -$1,000 | |
| -10% | $24.59 | -$2,435 | -$3,843 | -$2,000 | |
| -15% | $23.22 | -$3,653 | -$5,764 | -$3,000 | |
| -20% | $21.86 | -$4,870 | -$7,686 | -$4,000 | |
| -30% | $19.12 | -$7,305 | -$11,529 | -$5,999 | |
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
| Move | Price | Fortress 14ct Jan'27 | Pure 18ct Jan'27 | Stock 732sh | F-P Diff | Winner |
|---|
| -19% | $22 | $-16,083 | $-16,279 | $-4,000 | $+196 | (Stock) |
| +0% | $27 | $-784 | $-6,444 | $0 | $+5,660 | (Stock) |
| +25% | $34 | $+11,130 | $+5,850 | $+5,000 | $+5,280 | (Fort) |
| +50% | $41 | $+20,692 | $+18,144 | $+9,999 | $+2,548 | (Fort) |
| +75% | $48 | $+30,254 | $+30,438 | $+14,999 | $-184 | (Pure) |
| +100% | $55 | $+39,816 | $+42,732 | $+19,998 | $-2,916 | (Pure) |
| +200% | $82 | $+78,064 | $+91,908 | $+39,996 | $-13,844 | (Pure) |
MP @ $68.64
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/$75P/$65P | 10 | +0.556/sh (+557) | $9,600 | $72.30 (+5%) | $-37/d | 1.51 |
| Dec '26 (228d) | Fortress | $60C/$75P/$55P | 7 | +0.481/sh (+337) | $5,460 | $71.40 (+4%) | $-18/d | 1.56 |
| Jan '27 (256d) | Fortress | $60C/$75P/$65P | 8 | +0.600/sh (+480) | $10,560 | $74.10 (+8%) | $-22/d | 1.62 |
| ★ | Jan '27 (256d) | Pure | $60C | 10 | +0.697/sh (+697) | $18,950 | $78.95 (+15%) | $-28/d | 1.65 |
| Mar '27 (319d) | Fortress | $50C/$70P/$45P | 5 | +0.563/sh (+282) | $7,375 | $67.38 (-2%) | $-8/d | 1.27 |
| Dec '27 (592d) | Fortress | $40C/$75P/$47P | 4 | +0.674/sh (+270) | $8,640 | $68.30 (-0%) | $-4/d | 1.11 |
| Jan '28 (627d) | Fortress | $45C/$75P/$50P | 4 | +0.667/sh (+267) | $7,800 | $69.75 (+2%) | $-4/d | 1.16 |
| Now | Stock | 291 sh @ $68.64 | 291 | +1.000/sh (+291) | $19,974 | $68.64 (+0%) | $0/d | 0.7269 |
★ = 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: $60C / $75P / $65P (Jan '27, 256d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $60.0C | $18.95 | +0.697 |
| SP | SELL | $75.0P | $19.00 | -0.457 |
| HP | BUY | $65.0P | $13.25 | +0.359 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 8 |
+0.600/sh (+480) |
$10,560 | $18,560 |
$74.10 (+8%) | $-22/d |
5.2x | 1.62 | +485% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.62 | 1.65 | PURE (-2%) |
| Contracts | 8 | 10 | PURE (-20%) |
| IC (capital) | $10,560 | $18,950 | FORT (-44%) |
| Max Loss | $18,560 | $18,950 | FORT (-2%) |
| Breakeven | $74.10 | $78.95 | FORT (-6%) |
| Theta/day | $-22 | $-28 | FORT (-24%) |
| ROIC@+25% | 95% | 36% | FORT (+164%) |
Pure scores 2% 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 8ct | Pure 10ct | Stock 291sh | Winner |
|---|
| 0.5sigma | +24% | $84.98 | 15% | $+9,427 | $+6,034 | $+4,756 | (Fort) |
| 1sigma | +48% | $101.33 | 20% | $+22,502 | $+22,378 | $+9,512 | (Fort) |
| 1.5sigma | +71% | $117.67 | 25% | $+35,578 | $+38,722 | $+14,268 | (Pure) |
| 2sigma | +95% | $134.02 | 25% | $+48,653 | $+55,066 | $+19,024 | (Pure) |
| 3sigma | +143% | $166.70 | 10% | $+74,803 | $+87,754 | $+28,537 | (Pure) |
| Weighted average P&L | 100% |
$+36,266 |
$+39,582 |
$+14,519 |
(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 8ct | Pure 10ct | Stock 291sh | |
|---|
| -5% | $65.21 | -$1,647 | -$2,393 | -$999 | |
| -10% | $61.78 | -$3,294 | -$4,786 | -$1,997 | |
| -15% | $58.34 | -$4,942 | -$7,179 | -$2,996 | |
| -20% | $54.91 | -$6,589 | -$9,572 | -$3,995 | |
| -30% | $48.05 | -$9,883 | -$14,358 | -$5,992 | |
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 8ct Jan'27 | Pure 10ct Jan'27 | Stock 291sh | F-P Diff | Winner |
|---|
| -19% | $55 | $-18,560 | $-18,950 | $-3,995 | $+390 | (Stock) |
| +0% | $69 | $-8,736 | $-10,310 | $0 | $+1,574 | (Stock) |
| +25% | $86 | $+10,080 | $+6,850 | $+4,994 | $+3,230 | (Fort) |
| +50% | $103 | $+23,808 | $+24,010 | $+9,987 | $-202 | (Pure) |
| +75% | $120 | $+37,536 | $+41,170 | $+14,981 | $-3,634 | (Pure) |
| +100% | $137 | $+51,264 | $+58,330 | $+19,974 | $-7,066 | (Pure) |
| +200% | $206 | $+106,176 | $+126,970 | $+39,948 | $-20,794 | (Pure) |
UAMY @ $12.37
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 (+5%) | $-37/d | 1.35 |
| Nov '26 (200d) | Fortress | $10C/$12.5P/$7.5P | 25 | +0.572/sh (+1,431) | $7,125 | $12.85 (+4%) | $-14/d | 1.68 |
| Jan '27 (256d) | Fortress | $10C/$12.5P/$10P | 29 | +0.682/sh (+1,979) | $12,180 | $14.20 (+15%) | $-19/d | 1.72 |
| ★ | Jan '27 (256d) | Pure | $10C | 36 | +0.762/sh (+2,742) | $19,800 | $15.50 (+25%) | $-27/d | 1.79 |
| Jan '28 (627d) | Fortress | $5C/$12.5P/$7.5P | 17 | +0.824/sh (+1,400) | $10,710 | $11.90 (-4%) | $-3/d | 1.42 |
| Now | Stock | 1,616 sh @ $12.37 | 1,616 | +1.000/sh (+1,616) | $19,990 | $12.37 (+0%) | $0/d | 1.25 |
★ = 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 / $12.5P / $10P (Jan '27, 256d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $10.0C | $5.50 | +0.762 |
| SP | SELL | $12.5P | $4.40 | -0.321 |
| HP | BUY | $10.0P | $3.10 | +0.241 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 29 |
+0.682/sh (+1,979) |
$12,180 | $19,430 |
$14.20 (+15%) | $-19/d |
3.0x | 1.72 | +251% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.72 | 1.79 | PURE (-4%) |
| Contracts | 29 | 36 | PURE (-19%) |
| IC (capital) | $12,180 | $19,800 | FORT (-38%) |
| Max Loss | $19,430 | $19,800 | FORT (-2%) |
| Breakeven | $14.20 | $15.50 | FORT (-8%) |
| Theta/day | $-19 | $-27 | FORT (-28%) |
| ROIC@+25% | 30% | -1% | FORT (+4509%) |
Pure scores 4% 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 1,616sh | Winner |
|---|
| 0.5sigma | +41% | $17.42 | 15% | $+9,325 | $+6,895 | $+8,153 | (Fort) |
| 1sigma | +82% | $22.46 | 20% | $+23,956 | $+25,059 | $+16,307 | (Pure) |
| 1.5sigma | +122% | $27.51 | 25% | $+38,588 | $+43,222 | $+24,460 | (Pure) |
| 2sigma | +163% | $32.55 | 25% | $+53,219 | $+61,385 | $+32,613 | (Pure) |
| 3sigma | +245% | $42.64 | 10% | $+82,482 | $+97,712 | $+48,920 | (Pure) |
| Weighted average P&L | 100% |
$+39,358 |
$+44,178 |
$+24,889 |
(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 1,616sh | |
|---|
| -5% | $11.75 | -$1,224 | -$1,696 | -$999 | |
| -10% | $11.13 | -$2,448 | -$3,392 | -$1,999 | |
| -15% | $10.51 | -$3,672 | -$5,088 | -$2,998 | |
| -20% | $9.90 | -$4,896 | -$6,784 | -$3,998 | |
| -30% | $8.66 | -$7,343 | -$10,177 | -$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 29ct Jan'27 | Pure 36ct Jan'27 | Stock 1,616sh | F-P Diff | Winner |
|---|
| -19% | $10 | $-19,430 | $-19,800 | $-3,998 | $+370 | (Stock) |
| +0% | $12 | $-5,684 | $-11,268 | $0 | $+5,584 | (Stock) |
| +25% | $15 | $+3,661 | $-135 | $+4,997 | $+3,796 | (Stock) |
| +50% | $19 | $+12,630 | $+10,998 | $+9,995 | $+1,632 | (Fort) |
| +75% | $22 | $+21,598 | $+22,131 | $+14,992 | $-533 | (Pure) |
| +100% | $25 | $+30,566 | $+33,264 | $+19,990 | $-2,698 | (Pure) |
| +200% | $37 | $+66,439 | $+77,796 | $+39,980 | $-11,357 | (Pure) |
LEAPS Builder v6.0 | 2026-05-04 20:23:55