Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-09 00:32:54
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$98,808/yr

TOTAL HEDGE (REPAIRED)

$92,909/yr

ANNUAL SAVINGS

$5,899/yr

ROLL CREDITS

ADDITIONAL MAX LOSS

$4,000

PORTFOLIO ACTION SUMMARY · 37 positions

3 · ROLL NOW2 · REPAIR PLAN4 · LEAPS-ONLY28 · OK

Click any ticker row below to jump to its analysis section.

What do these actions mean? (legend)

NO HEDGE — No HP leg at all — naked synthetic long, no catastrophic protection.

ROLL IMMEDIATELY — Healthy fortress, HP expires ≤14d — roll the hedge out NOW (theta cliff).

REPAIR NOW — Structurally bad (HP ITM/tight or costly) AND ≤14d — roll HP DOWN today.

REPAIR SOON — Structurally bad AND ≤35d — roll HP DOWN this week.

ROLL NOW — Healthy fortress, HP ≤45d — roll the hedge OUT (maintain/raise strike).

REPAIR PLAN — Structurally bad but >35d runway — plan the roll-down, no rush.

LEAPS-ONLY — CSV-declared SP=0/HP=0 — intentional LC-only structure, no hedge to roll.

OK — Healthy structure with ample HP runway — no action.

REPAIR = roll HP down to a cheaper OTM strike (structure is hurting). ROLL = roll HP out/up to a later expiry (structure is healthy, hedge just expiring).

Fortress Position Overview

FORTRESS	STOCK	LC	SP	HP	SC	BE‑SS	CC‑SS	GAP	RM	HP OTM%	STATUS	CTRS	IC	NOTIONAL	URGENCY
BMNR → +10C −18P +10P	$14.45	10	18	10	0	$17.13	$19.79	8	2.28x	30.8%	SAFE	50	$31,250	$72,225	ROLL NOW (43d)
INTC → +85C −100P +35P	$107.33	85	100	35	0	$114.00	$116.91	65	3.24x	67.4%	SAFE	5	$14,500	$53,665	ROLL NOW (43d)
IREN (Neville) → +45C −65P +21P −60C	$41.16	45	65	21	60	$56.50	$59.04	44	15.67x	49.0%	SAFE	20	$6,000	$82,330	ROLL NOW (43d)
IREN (Joint) → +25C −47P +35P −55C	$41.16	25	47	35	55	$44.00	$48.08	12	1.75x	15.0%	SAFE	20	$32,000	$82,330	REPAIR PLAN (99d)
IREN (Main) → +25C −47P +35P −55C	$41.16	25	47	35	55	$44.00	$48.08	12	1.75x	15.0%	SAFE	20	$32,000	$82,330	REPAIR PLAN (99d)
GOOG (Joint) +310C −380C	$358.47	310	0	0	380	$392.50	$337.66	0	1.00x	0.0%	N/A	5	$41,250	$179,235	LEAPS-ONLY
GOOG (Main) +310C −380C	$358.47	310	0	0	380	$392.50	$337.66	0	1.00x	0.0%	N/A	10	$82,500	$358,470	LEAPS-ONLY
IGV +70C −100C	$92.03	70	0	0	100	$96.50	$86.75	0	1.00x	0.0%	N/A	12	$31,800	$110,430	LEAPS-ONLY
SPY +640C	$743.63	640	0	0	0	$764.00	$693.97	0	1.00x	0.0%	N/A	12	$148,800	$892,356	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$241.83	215	260	230	252	$256.25	$239.30	30	1.80x	4.9%	TIGHT	10	$37,500	$241,827	OK
APP +460C −540P +185P −600C	$517.47	460	540	185	600	$588.00	$604.68	355	3.77x	64.2%	SAFE	1	$12,800	$51,747	OK
CLSK +17C −17P +10P	$12.16	17	17	10	0	$20.74	$17.34	7	2.87x	17.8%	SAFE	25	$9,350	$30,400	OK
COIN (Main) +165C −240P +85P −215C	$160.10	165	240	85	215	$210.90	$218.93	155	10.23x	46.9%	SAFE	8	$13,440	$128,084	OK
COIN (RetireInc) +145C −200P +75P −215C	$160.10	145	200	75	215	$182.40	$189.88	125	7.31x	53.2%	SAFE	3	$5,940	$48,032	OK
COPX +65C −90P +68P	$72.04	65	90	68	0	$93.40	$94.63	22	1.77x	5.6%	OK	20	$56,800	$144,080	OK
CRWV +105C −120P +40P −90C	$85.88	105	120	40	90	$125.45	$128.66	80	4.91x	53.4%	SAFE	5	$10,225	$42,940	OK
DELL +340C −390P +150P −450C	$429.43	340	390	150	450	$398.00	$409.32	240	5.14x	65.1%	SAFE	3	$17,400	$128,828	OK
ENPH +45C −60P +20P	$41.54	45	60	20	0	$56.15	$58.96	40	6.48x	51.9%	SAFE	10	$7,300	$41,540	OK
ETHA +13C −16P +10P	$13.05	13	16	10	0	$17.33	$17.95	6	2.39x	23.4%	SAFE	50	$21,650	$65,250	OK
GLD +320C −450P +330P −410C	$371.28	320	450	330	410	$456.00	$471.63	120	1.88x	11.1%	SAFE	10	$136,000	$371,280	OK
GLXY +38C −38P +18P	$24.00	38	38	18	0	$39.71	$33.31	20	10.05x	27.1%	SAFE	125	$27,625	$300,062	OK
GOOG (Neville) +300C −345P +310P −380C	$358.47	300	345	310	380	$373.00	$338.39	35	1.48x	13.5%	SAFE	15	$109,500	$537,705	OK
GOOG (Neville) +340C −405P +360P −380C	$358.47	340	405	360	380	$398.00	$373.98	45	1.88x	-0.4%	ITM	5	$25,500	$179,235	OK
HIMS +10C −20P +5P −48C	$35.13	10	20	5	48	$17.47	$18.58	15	4.04x	85.8%	SAFE	15	$7,395	$52,702	OK
IREN (RetireInc) +50C −70P +23P −48C	$41.16	50	70	23	48	$63.43	$67.95	47	7.86x	44.1%	SAFE	20	$13,700	$82,330	OK
MDB +270C −340P +150P −410C	$356.71	270	340	150	410	$362.90	$374.89	190	3.05x	57.9%	SAFE	1	$9,290	$35,672	OK
META +480C −650P +330P −630C	$604.86	480	650	330	630	$601.50	$604.55	320	5.38x	45.4%	SAFE	3	$21,900	$181,458	OK
MSTR +125C −185P +55P −112C	$94.08	125	185	55	112	$161.00	$169.55	130	11.83x	41.5%	SAFE	4	$4,800	$37,632	OK
MU (Main) +880C −1010P +320P	$941.00	880	1010	320	0	$1028.60	$1058.47	690	5.64x	66.0%	SAFE	5	$74,300	$470,500	OK
MU (Neville) +970C −1110P +370P	$941.00	970	1110	370	0	$1220.00	$1248.70	740	3.96x	60.7%	SAFE	2	$50,000	$188,200	OK
NEM +88C −105P +75P −98C	$92.42	88	105	75	98	$114.54	$117.56	30	2.11x	18.8%	SAFE	5	$13,520	$46,210	OK
NOW +80C −110P +90P −112C	$107.01	80	110	90	112	$108.93	$112.54	20	1.72x	15.9%	SAFE	10	$27,850	$107,010	OK
QCOM +190C −210P +90P −208C	$184.99	190	210	90	208	$224.00	$229.83	120	4.53x	51.3%	SAFE	5	$17,000	$92,495	OK
RIOT +17C −40P +17P	$20.71	17	40	17	0	$23.65	$30.96	23	7.19x	17.9%	SAFE	50	$18,575	$103,575	OK
RKLB +115C −135P +45P −101C	$82.37	115	135	45	101	$141.55	$148.34	90	4.39x	45.4%	SAFE	6	$15,930	$49,422	OK
SOFI +10C −13P +5P	$17.36	10	13	5	0	$15.75	$16.33	8	2.39x	71.2%	SAFE	35	$20,125	$60,777	OK
SPCX +150C −195P +135P	$149.46	150	195	135	0	$186.00	$182.63	60	3.22x	9.7%	OK	5	$13,500	$74,729	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 99d

Stock: $41.16 HP: 15.0% OTM Current hedge: $49,404/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $137,431/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 11 PASS

#	NEW HP	EXPIRY	DTE	OTM%	ASK	ROLL CR/SH	ROLL TOTAL	HEDGE/YR	STRESS/YR	SAVED/YR	GAP	ML+	PAYBACK	PB+INC	NEW RM
1	34	Oct 16	99d	17.4%	$6.30	$0.00	$0	$46,455	$62,419	$2,949	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Oct 16	99d	19.8%	$5.85	$0.45	$900	$43,136	$63,045	$6,268	14	$4,000	8mo	0mo	1.88x	PASS
3	33	Sep 18	71d	19.8%	$4.65	$1.65	$3,300	$47,810	$87,908	$1,594	14	$4,000	30mo	0mo	1.88x	PASS
4	32	Oct 16	99d	22.3%	$5.15	$1.15	$2,300	$37,975	$60,096	$11,429	15	$6,000	6mo	0mo	1.94x	PASS
5	32	Sep 18	71d	22.3%	$4.35	$1.95	$3,900	$44,725	$83,796	$4,679	15	$6,000	15mo	1mo	1.94x	PASS
6	31	Oct 16	99d	24.7%	$4.80	$1.50	$3,000	$35,394	$55,303	$14,010	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	71d	24.7%	$3.85	$2.45	$4,900	$39,585	$77,113	$9,820	16	$8,000	10mo	1mo	2.00x	PASS
8	30	Oct 16	99d	27.1%	$4.30	$2.00	$4,000	$31,707	$48,667	$17,697	17	$10,000	7mo	1mo	2.06x	PASS
9	30	Sep 18	71d	27.1%	$3.45	$2.85	$5,700	$35,472	$67,859	$13,932	17	$10,000	9mo	1mo	2.06x	PASS
10	29	Oct 16	99d	29.6%	$4.20	$2.10	$4,200	$30,970	$44,980	$18,434	18	$12,000	8mo	1mo	2.12x	PASS
11	29	Sep 18	71d	29.6%	$3.15	$3.15	$6,300	$32,387	$62,718	$17,017	18	$12,000	8mo	1mo	2.12x	PASS
12	34	Sep 18	71d	17.4%	$5.15	$1.15	$2,300	$52,951	$87,035	$-3,547	13	$2,000	N/A	0mo	1.81x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $3.00	$60,000/yr	$46,455/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $3.25	$65,000/yr	$46,455/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $41.16 → $32.93, hedge $62,419/yr)
CC at SS vs stressed	$60,000/yr	$62,419/yr	DEFICIT $202/mo
CC at MID vs stressed	$65,000/yr	$62,419/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $3.25). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 99d

#	NEW HP	EXPIRY	DTE	OTM%	ASK	ROLL CR/SH	ROLL TOTAL	HEDGE/YR	STRESS/YR	SAVED/YR	GAP	ML+	PAYBACK	PB+INC	NEW RM
1	34	Oct 16	99d	17.4%	$6.30	$0.00	$0	$46,455	$62,419	$2,949	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Oct 16	99d	19.8%	$5.85	$0.45	$900	$43,136	$63,045	$6,268	14	$4,000	8mo	0mo	1.88x	PASS
3	33	Sep 18	71d	19.8%	$4.65	$1.65	$3,300	$47,810	$87,908	$1,594	14	$4,000	30mo	0mo	1.88x	PASS
4	32	Oct 16	99d	22.3%	$5.15	$1.15	$2,300	$37,975	$60,096	$11,429	15	$6,000	6mo	0mo	1.94x	PASS
5	32	Sep 18	71d	22.3%	$4.35	$1.95	$3,900	$44,725	$83,796	$4,679	15	$6,000	15mo	1mo	1.94x	PASS
6	31	Oct 16	99d	24.7%	$4.80	$1.50	$3,000	$35,394	$55,303	$14,010	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	71d	24.7%	$3.85	$2.45	$4,900	$39,585	$77,113	$9,820	16	$8,000	10mo	1mo	2.00x	PASS
8	30	Oct 16	99d	27.1%	$4.30	$2.00	$4,000	$31,707	$48,667	$17,697	17	$10,000	7mo	1mo	2.06x	PASS
9	30	Sep 18	71d	27.1%	$3.45	$2.85	$5,700	$35,472	$67,859	$13,932	17	$10,000	9mo	1mo	2.06x	PASS
10	29	Oct 16	99d	29.6%	$4.20	$2.10	$4,200	$30,970	$44,980	$18,434	18	$12,000	8mo	1mo	2.12x	PASS
11	29	Sep 18	71d	29.6%	$3.15	$3.15	$6,300	$32,387	$62,718	$17,017	18	$12,000	8mo	1mo	2.12x	PASS
12	34	Sep 18	71d	17.4%	$5.15	$1.15	$2,300	$52,951	$87,035	$-3,547	13	$2,000	N/A	0mo	1.81x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $3.00	$60,000/yr	$46,455/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $3.25	$65,000/yr	$46,455/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $41.16 → $32.93, hedge $62,419/yr)
CC at SS vs stressed	$60,000/yr	$62,419/yr	DEFICIT $202/mo
CC at MID vs stressed	$65,000/yr	$62,419/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $3.25). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

BMNR: HP 10P Maintenance Roll-Out · exp Aug 21 '26, 43d

Stock: $14.45 Current HP: 10P (43d, 30.8% OTM) Current hedge: $12,733/yr Current ML: $71,250 CC income: $57,901/yr Cost cap: 25% of CC = $14,475/yr IV: HIGH 2 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Jan 15 '27, 190d, 30.8% OTM) | Cost: $12,199/yr (21% of CC) | New ML: $71,250 = ML | Roll DEBIT $5,200 | Margin (TIMS): $824

PROTECTIVE PICK: same as CHEAPEST (no higher-strike candidate clears the cost cap).

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP PROT	Jan 15	190d	30.8%	$1.10	$1.27	$12,199	21%	$71,250	=	D $5,200
2	10	Nov 20	134d	30.8%	$0.88	$1.01	$13,756	24%	$71,250	=	D $3,900

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.20	$10,000/yr	$12,199/yr	DEFICIT $183/mo
CC at MID $17 0.6σ, B $0.65	$32,500/yr	$12,199/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($17, bid $0.65). Self-funds in BOTH normal and 0% drawdown. At SS the position bleeds, so don't drift too far OTM.

IREN (Neville): HP 21P Maintenance Roll-Out · exp Aug 21 '26, 43d

Stock: $41.16 Current HP: 21P (43d, 49.0% OTM) Current hedge: $14,091/yr Current ML: $94,000 CC income: $137,431/yr Cost cap: 25% of CC = $34,358/yr IV: HIGH 19 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Sep 18 '26, 71d, 49.0% OTM) | Cost: $12,030/yr (9% of CC) | New ML: $94,000 = ML | Roll DEBIT $1,640 | Margin (TIMS): $1,868

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 30P (Oct 16 '26, 99d, 27.1% OTM) | Cost: $31,707/yr (23% of CC) | New ML: $76,000 ↓ $18,000 | Roll DEBIT $7,900 | Margin (TIMS): $1,629

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Sep 18	71d	49.0%	$1.00	$1.17	$12,030	9%	$94,000	=	D $1,640
2	21	Oct 16	99d	49.0%	$1.30	$1.75	$12,904	9%	$94,000	=	D $2,800
3	22	Oct 16	99d	46.6%	$1.52	$1.81	$13,346	10%	$92,000	-$2,000	D $2,920
4	22	Sep 18	71d	46.6%	$1.17	$1.34	$13,777	10%	$92,000	-$2,000	D $1,980
5	23	Oct 16	99d	44.1%	$1.76	$2.24	$16,517	12%	$90,000	-$4,000	D $3,780
6	24	Oct 16	99d	41.7%	$2.03	$2.38	$17,549	13%	$88,000	-$6,000	D $4,060
7	23	Sep 18	71d	44.1%	$1.25	$1.72	$17,685	13%	$90,000	-$4,000	D $2,740
8	24	Sep 18	71d	41.7%	$1.43	$1.93	$19,844	14%	$88,000	-$6,000	D $3,160
9	25	Sep 18	71d	39.3%	$1.77	$1.99	$20,461	15%	$86,000	-$8,000	D $3,280
10	25	Oct 16	99d	39.3%	$2.32	$2.79	$20,573	15%	$86,000	-$8,000	D $4,880
11	26	Oct 16	99d	36.8%	$2.73	$2.80	$20,646	15%	$84,000	-$10,000	D $4,900
12	26	Sep 18	71d	36.8%	$2.07	$2.27	$23,339	17%	$84,000	-$10,000	D $3,840
▶ 13	30 PROT	Oct 16	99d	27.1%	$4.10	$4.30	$31,707	23%	$76,000	-$18,000	D $7,900

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $3.25	$65,000/yr	$12,030/yr	SELF-FUNDING
CC at MID $50 0.5σ, B $3.25	$65,000/yr	$12,030/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($50, bid $3.25). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

INTC: HP 35P Maintenance Roll-Out · exp Aug 21 '26, 43d

Stock: $107.33 Current HP: 35P (43d, 67.4% OTM) Current hedge: $340/yr Current ML: $47,000 CC income: $45,690/yr Cost cap: 25% of CC = $11,422/yr IV: HIGH 50 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 71d, 67.4% OTM) | Cost: $591/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $105 | Margin (TIMS): $3,243

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 78P (Oct 16 '26, 99d, 27.8% OTM) | Cost: $10,968/yr (24% of CC) | New ML: $25,750 ↓ $21,250 | Roll DEBIT $2,965 | Margin (TIMS): $2,919

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	71d	67.4%	$0.12	$0.23	$591	1%	$47,000	=	D $105
2	36	Sep 18	71d	66.5%	$0.14	$0.26	$668	1%	$46,500	-$500	D $120
3	35	Oct 16	99d	67.4%	$0.16	$0.41	$756	2%	$47,000	=	D $195
4	37	Sep 18	71d	65.5%	$0.16	$0.30	$771	2%	$46,000	-$1,000	D $140
5	40	Sep 18	71d	62.7%	$0.25	$0.30	$771	2%	$44,500	-$2,500	D $140
6	39	Sep 18	71d	63.7%	$0.22	$0.33	$848	2%	$45,000	-$2,000	D $155
7	38	Sep 18	71d	64.6%	$0.11	$0.35	$900	2%	$45,500	-$1,500	D $165
8	39	Oct 16	99d	63.7%	$0.36	$0.50	$922	2%	$45,000	-$2,000	D $240
9	40	Oct 16	99d	62.7%	$0.42	$0.55	$1,014	2%	$44,500	-$2,500	D $265
10	42	Sep 18	71d	60.9%	$0.29	$0.44	$1,131	2%	$43,500	-$3,500	D $210
11	43	Sep 18	71d	59.9%	$0.33	$0.44	$1,131	2%	$43,000	-$4,000	D $210
12	45	Sep 18	71d	58.1%	$0.40	$0.44	$1,131	2%	$42,000	-$5,000	D $210
▶ 13	78 PROT	Oct 16	99d	27.8%	$5.75	$5.95	$10,968	24%	$25,750	-$21,250	D $2,965

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $117, B $9.05	$45,250/yr	$591/yr	SELF-FUNDING
CC at MID $125 0.4σ, B $6.95	$34,750/yr	$591/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($117, bid $9.05). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

HP roll-downs do not change Safe Strike. SS = Max(LC+ND, (LC+SP+ND)/2). HP is not in the formula.

Monthly hedge cost prorated: (30/DTE) × (Ask × Shares). Payback = ML increase / Annual savings.

EST = ask price estimated as mid × 1.10 (10% safety buffer). Verify with live prices before executing.

Always prefer longest viable DTE for repair rolls (fewer rolls/yr = lower annual cost).