Purchased a debit spread on /CL futures as a hedge against possible war with Iran. Current beta weighted risk is 2.62 against the SPX. Overall theta on futures is 98.63. SPX beta weighted risk ~$18,022. All else being equal, this represents $2,958.90 every 30 days due to theta decay~7.8% monthly. Of note, beta weighted portfolio value is remains close to the current futures balance ($19,948.31). The attached graph shows the current stress test with losses beginning at /ES price of $6,875.25 (which appears to increase with volatility). It has a 5.03% chance of loss over the next 30 days.