LEAPS Builder v6.0
USAR $20,000 [itm], MP $20,000 [itm], UAMY $20,000 [itm] | 2026-05-04 23:34:59
USAR @ $26.32
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%, +69%, +103%, +137%, +206% (IV 97%) ($20,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | Delta | IC | BE | Theta | Score |
|---|
| Sep '26 (137d) | Fortress | $20C/$25P/$22P | 18 | +0.709/sh (+1,276) | $14,490 | $28.05 (+7%) | $-28/d | 1.49 |
| Dec '26 (228d) | Fortress | $19C/$28P/$16P | 11 | +1.267/sh (+1,393) | $6,688 | $26.54 (+1%) | $+6/d | 1.59 |
| Jan '27 (256d) | Fortress | $20C/$28P/$19P | 13 | +0.623/sh (+810) | $8,190 | $27.15 (+3%) | $-13/d | 1.61 |
| ★ | Jan '27 (256d) | Pure | $20C | 18 | +0.782/sh (+1,407) | $19,890 | $31.05 (+18%) | $-24/d | 1.69 |
| Jan '28 (627d) | Fortress | $17C/$27P/$15P | 9 | +0.716/sh (+644) | $7,830 | $26.35 (+0%) | $-4/d | 1.31 |
| Now | Stock | 759 sh @ $26.32 | 759 | +1.000/sh (+759) | $19,981 | $26.32 (+0%) | $0/d | 1.05 |
★ = 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 / $28P / $19P (Jan '27, 256d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $20.0C | $11.05 | +0.782 |
| SP | SELL | $28.0P | $8.65 | -0.360 |
| HP | BUY | $19.0P | $3.90 | +0.201 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 13 |
+0.623/sh (+810) |
$8,190 | $19,890 |
$27.15 (+3%) | $-13/d |
4.2x | 1.61 | +418% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.61 | 1.69 | PURE (-5%) |
| Contracts | 13 | 18 | PURE (-28%) |
| IC (capital) | $8,190 | $19,890 | FORT (-59%) |
| Max Loss | $19,890 | $19,890 | TIE |
| Breakeven | $27.15 | $31.05 | FORT (-13%) |
| Theta/day | $-13 | $-24 | FORT (-46%) |
| ROIC@+25% | 105% | 17% | FORT (+524%) |
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 13ct | Pure 18ct | Stock 759sh | Winner |
|---|
| 0.5sigma | +34% | $35.36 | 15% | $+11,776 | $+7,755 | $+6,856 | (Fort) |
| 1sigma | +69% | $44.39 | 20% | $+23,519 | $+24,014 | $+13,712 | (Pure) |
| 1.5sigma | +103% | $53.42 | 30% | $+35,262 | $+40,274 | $+20,569 | (Pure) |
| 2sigma | +137% | $62.46 | 25% | $+47,005 | $+56,534 | $+27,425 | (Pure) |
| 3sigma | +206% | $80.52 | 10% | $+70,491 | $+89,053 | $+41,137 | (Pure) |
| Weighted average P&L | 100% |
$+35,849 |
$+41,087 |
$+20,911 |
(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 13ct | Pure 18ct | Stock 759sh | |
|---|
| -5% | $25.01 | -$1,066 | -$1,852 | -$999 | |
| -10% | $23.69 | -$2,131 | -$3,704 | -$1,998 | |
| -15% | $22.38 | -$3,197 | -$5,557 | -$2,997 | |
| -20% | $21.06 | -$4,262 | -$7,409 | -$3,996 | |
| -30% | $18.43 | -$6,393 | -$11,113 | -$5,994 | |
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 13ct Jan'27 | Pure 18ct Jan'27 | Stock 759sh | F-P Diff | Winner |
|---|
| -19% | $21 | $-15,834 | $-17,982 | $-3,996 | $+2,148 | (Stock) |
| +0% | $26 | $-2,145 | $-8,505 | $0 | $+6,360 | (Stock) |
| +25% | $33 | $+8,588 | $+3,341 | $+4,995 | $+5,247 | (Fort) |
| +50% | $39 | $+17,144 | $+15,187 | $+9,990 | $+1,956 | (Fort) |
| +75% | $46 | $+25,699 | $+27,034 | $+14,986 | $-1,334 | (Pure) |
| +100% | $53 | $+34,255 | $+38,880 | $+19,981 | $-4,625 | (Pure) |
| +200% | $79 | $+68,477 | $+86,265 | $+39,961 | $-17,788 | (Pure) |
MP @ $67.71
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 | +0.603/sh (+542) | $9,990 | $71.10 (+5%) | $-50/d | 1.22 |
| Dec '26 (228d) | Fortress | $60C/$70P/$60P | 8 | +0.901/sh (+720) | $11,720 | $74.65 (+10%) | $-17/d | 1.49 |
| ★ | Dec '26 (228d) | Pure | $60C | 10 | +0.708/sh (+708) | $19,150 | $79.15 (+17%) | $-30/d | 1.53 |
| Jan '27 (256d) | Fortress | $60C/$70P/$60P | 8 | +0.605/sh (+484) | $11,920 | $74.90 (+11%) | $-21/d | 1.42 |
| Mar '27 (319d) | Fortress | $50C/$70P/$60P | 6 | +0.714/sh (+429) | $13,560 | $72.60 (+7%) | $-12/d | 1.22 |
| Dec '27 (592d) | Fortress | $50C/$70P/$40P | 4 | +0.600/sh (+240) | $7,380 | $69.22 (+2%) | $-4/d | 0.9629 |
| Jan '28 (627d) | Fortress | $45C/$70P/$50P | 4 | +0.707/sh (+283) | $9,800 | $69.75 (+3%) | $-5/d | 1.02 |
| Now | Stock | 295 sh @ $67.71 | 295 | +1.000/sh (+295) | $19,974 | $67.71 (+0%) | $0/d | 0.7262 |
★ = 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 / $70P / $60P (Dec '26, 228d)
| Leg | Action | Strike | Price | Delta |
|---|
| LC | BUY | $60.0C | $19.15 | +0.708 |
| SP | SELL | $70.0P | $14.25 | +0.477 |
| HP | BUY | $60.0P | $9.75 | -0.285 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 8 |
+0.901/sh (+720) |
$11,720 | $19,720 |
$74.65 (+10%) | $-17/d |
4.6x | 1.49 | +415% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.49 | 1.53 | PURE (-3%) |
| Contracts | 8 | 10 | PURE (-20%) |
| IC (capital) | $11,720 | $19,150 | FORT (-39%) |
| Max Loss | $19,720 | $19,150 | PURE (+3%) |
| Breakeven | $74.65 | $79.15 | FORT (-6%) |
| Theta/day | $-17 | $-30 | FORT (-45%) |
| ROIC@+25% | 68% | 29% | FORT (+138%) |
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 8ct | Pure 10ct | Stock 295sh | Winner |
|---|
| 0.5sigma | +24% | $83.83 | 15% | $+7,346 | $+4,683 | $+4,756 | (Fort) |
| 1sigma | +48% | $99.96 | 20% | $+20,244 | $+20,805 | $+9,512 | (Pure) |
| 1.5sigma | +71% | $116.08 | 30% | $+33,142 | $+36,928 | $+14,269 | (Pure) |
| 2sigma | +95% | $132.20 | 25% | $+46,041 | $+53,051 | $+19,025 | (Pure) |
| 3sigma | +143% | $164.45 | 10% | $+71,837 | $+85,296 | $+28,537 | (Pure) |
| Weighted average P&L | 100% |
$+33,787 |
$+37,734 |
$+14,506 |
(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 295sh | |
|---|
| -5% | $64.32 | -$2,439 | -$2,398 | -$999 | |
| -10% | $60.94 | -$4,878 | -$4,796 | -$1,997 | |
| -15% | $57.55 | -$7,317 | -$7,194 | -$2,996 | |
| -20% | $54.17 | -$9,757 | -$9,592 | -$3,995 | |
| -30% | $47.40 | -$14,635 | -$14,387 | -$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 Dec'26 | Pure 10ct Dec'26 | Stock 295sh | F-P Diff | Winner |
|---|
| -19% | $54 | $-19,720 | $-19,150 | $-3,995 | $-570 | (Stock) |
| +0% | $68 | $-7,384 | $-11,440 | $0 | $+4,056 | (Stock) |
| +25% | $85 | $+7,990 | $+5,487 | $+4,994 | $+2,503 | (Fort) |
| +50% | $102 | $+21,532 | $+22,415 | $+9,987 | $-883 | (Pure) |
| +75% | $118 | $+35,074 | $+39,342 | $+14,981 | $-4,268 | (Pure) |
| +100% | $135 | $+48,616 | $+56,270 | $+19,974 | $-7,654 | (Pure) |
| +200% | $203 | $+102,784 | $+123,980 | $+39,949 | $-21,196 | (Pure) |
UAMY @ $12.30
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%, +123%, +164%, +246% (IV 116%) ($20,000 ML budget)
All Candidates
| Chain | Type | Structure | Ct | Delta | IC | BE | Theta | Score |
|---|
| Aug '26 (109d) | Fortress | $10C/$12.5P/$10P | 34 | +0.623/sh (+2,118) | $11,390 | $13.35 (+9%) | $-33/d | 1.26 |
| Nov '26 (200d) | Fortress | $10C/$10P/$7.5P | 30 | +0.665/sh (+1,996) | $12,300 | $14.10 (+15%) | $-20/d | 1.74 |
| Jan '27 (256d) | Fortress | $10C/$12.5P/$10P | 30 | +0.690/sh (+2,069) | $12,300 | $14.10 (+15%) | $-20/d | 1.74 |
| ★ | Jan '27 (256d) | Pure | $10C | 36 | +0.766/sh (+2,759) | $19,800 | $15.50 (+26%) | $-27/d | 1.78 |
| Jan '28 (627d) | Fortress | $7.5C/$12.5P/$5P | 17 | +0.725/sh (+1,232) | $6,630 | $11.95 (-3%) | $-3/d | 1.39 |
| Now | Stock | 1,626 sh @ $12.30 | 1,626 | +1.000/sh (+1,626) | $20,000 | $12.30 (+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 | +0.766 |
| SP | SELL | $12.5P | $4.50 | -0.313 |
| HP | BUY | $10.0P | $3.10 | +0.237 |
| Ct | Delta | IC | ML | BE | Theta | Lev | Score | ROIC |
|---|
| 30 |
+0.690/sh (+2,069) |
$12,300 | $19,800 |
$14.10 (+15%) | $-20/d |
3.0x | 1.74 | +256% |
Verdict: PURE PREFERRED
| Dimension |
Fortress |
Pure |
Winner |
| Score | 1.74 | 1.78 | PURE (-2%) |
| Contracts | 30 | 36 | PURE (-17%) |
| IC (capital) | $12,300 | $19,800 | FORT (-38%) |
| Max Loss | $19,800 | $19,800 | TIE |
| Breakeven | $14.10 | $15.50 | FORT (-9%) |
| Theta/day | $-20 | $-27 | FORT (-27%) |
| ROIC@+25% | 31% | -2% | FORT (+1468%) |
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 30ct | Pure 36ct | Stock 1,626sh | Winner |
|---|
| 0.5sigma | +41% | $17.34 | 15% | $+9,735 | $+6,642 | $+8,203 | (Fort) |
| 1sigma | +82% | $22.39 | 20% | $+24,869 | $+24,803 | $+16,406 | (Fort) |
| 1.5sigma | +123% | $27.43 | 30% | $+40,004 | $+42,965 | $+24,609 | (Pure) |
| 2sigma | +164% | $32.48 | 25% | $+55,139 | $+61,127 | $+32,812 | (Pure) |
| 3sigma | +246% | $42.57 | 10% | $+85,408 | $+97,450 | $+49,218 | (Pure) |
| Weighted average P&L | 100% |
$+40,761 |
$+43,873 |
$+25,019 |
(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 30ct | Pure 36ct | Stock 1,626sh | |
|---|
| -5% | $11.69 | -$1,272 | -$1,697 | -$1,000 | |
| -10% | $11.07 | -$2,544 | -$3,393 | -$2,000 | |
| -15% | $10.46 | -$3,816 | -$5,090 | -$3,000 | |
| -20% | $9.84 | -$5,089 | -$6,786 | -$4,000 | |
| -30% | $8.61 | -$7,633 | -$10,180 | -$6,000 | |
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 30ct Jan'27 | Pure 36ct Jan'27 | Stock 1,626sh | F-P Diff | Winner |
|---|
| -19% | $10 | $-19,800 | $-19,800 | $-4,000 | $0 | (Stock) |
| +0% | $12 | $-6,000 | $-11,520 | $0 | $+5,520 | (Stock) |
| +25% | $15 | $+3,825 | $-450 | $+5,000 | $+4,275 | (Stock) |
| +50% | $18 | $+13,050 | $+10,620 | $+10,000 | $+2,430 | (Fort) |
| +75% | $22 | $+22,275 | $+21,690 | $+15,000 | $+585 | (Fort) |
| +100% | $25 | $+31,500 | $+32,760 | $+20,000 | $-1,260 | (Pure) |
| +200% | $37 | $+68,400 | $+77,040 | $+40,000 | $-8,640 | (Pure) |
LEAPS Builder v6.0 | 2026-05-04 23:34:59