This study proposes an “optimal” spectral acceleration based intensity measure (IM) to assess the collapse capacity of generic moment frames vulnerable to the P-delta effect. The IM is derived from the geometric mean of the spectral pseudo-acceleration over a certain period interval. The optimized IM includes for first time a flexible lower limit for the period interval, corresponding to the structural period associated with the exceedance of 95% of the total effective mass. This flexible lower limit bound provides an efficient IM, independently of the contribution of higher modes to the total response. The upper bound period is 1.6 times the fundamental period to account for period elongation due to inelastic deformations and gravity loads. In a parametric study on generic frames, structural parameters are varied to quantify the performance of this IM compared to classical benchmark IMs. The “optimal” IM provides minimum, or close to the minimum, dispersion for the entire set of frames with different fundamental periods of vibration, number of stories, and P-delta vulnerability.