Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-08 03:40:35
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$103,660/yr

TOTAL HEDGE (REPAIRED)

$93,440/yr

ANNUAL SAVINGS

$10,220/yr

ROLL CREDITS

-$1,600

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	$15.05	10	18	10	0	$17.13	$19.57	8	2.28x	33.6%	SAFE	50	$31,250	$75,275	ROLL NOW (44d)
INTC → +85C −100P +35P	$109.55	85	100	35	0	$114.00	$116.74	65	3.24x	68.1%	SAFE	5	$14,500	$54,775	ROLL NOW (44d)
IREN (Neville) → +45C −65P +21P −60C	$40.23	45	65	21	60	$56.50	$58.93	44	15.67x	47.8%	SAFE	20	$6,000	$80,460	ROLL NOW (44d)
IREN (Joint) → +25C −47P +35P −60C	$40.23	25	47	35	60	$44.00	$47.73	12	1.75x	13.0%	SAFE	20	$32,000	$80,460	REPAIR PLAN (100d)
IREN (Main) → +25C −47P +35P −60C	$40.23	25	47	35	60	$44.00	$47.73	12	1.75x	13.0%	SAFE	20	$32,000	$80,460	REPAIR PLAN (100d)
GOOG (Joint) +310C −380C	$363.94	310	0	0	380	$392.50	$337.36	0	1.00x	0.0%	N/A	5	$41,250	$181,968	LEAPS-ONLY
GOOG (Main) +310C −380C	$363.94	310	0	0	380	$392.50	$337.36	0	1.00x	0.0%	N/A	10	$82,500	$363,935	LEAPS-ONLY
IGV +70C −100C	$94.44	70	0	0	100	$96.50	$85.37	0	1.00x	0.0%	N/A	12	$31,800	$113,328	LEAPS-ONLY
SPY +640C −765C	$746.71	640	0	0	765	$764.00	$693.53	0	1.00x	0.0%	N/A	12	$148,800	$896,052	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$245.44	215	260	230	252	$256.25	$239.14	30	1.80x	6.3%	OK	10	$37,500	$245,440	OK
APP +460C −540P +185P −600C	$529.14	460	540	185	600	$588.00	$603.44	355	3.77x	65.0%	SAFE	1	$12,800	$52,914	OK
CLSK +17C −17P +10P	$12.53	17	17	10	0	$20.74	$17.44	7	2.87x	20.2%	SAFE	25	$9,350	$31,312	OK
COIN (Main) +165C −240P +85P −215C	$164.24	165	240	85	215	$210.90	$215.90	155	10.23x	48.2%	SAFE	8	$13,440	$131,392	OK
COIN (RetireInc) +145C −200P +75P −185C	$164.24	145	200	75	185	$182.40	$185.45	125	7.31x	54.3%	SAFE	3	$5,940	$49,272	OK
COPX +65C −90P +68P	$74.24	65	90	68	0	$93.40	$94.71	22	1.77x	8.4%	OK	20	$56,800	$148,480	OK
CRWV +105C −120P +40P −90C	$83.23	105	120	40	90	$125.45	$128.62	80	4.91x	51.9%	SAFE	5	$10,225	$41,618	OK
DELL +340C −390P +150P −450C	$417.63	340	390	150	450	$398.00	$409.41	240	5.14x	64.1%	SAFE	3	$17,400	$125,289	OK
ENPH +45C −60P +20P	$42.85	45	60	20	0	$56.15	$58.90	40	6.48x	53.3%	SAFE	10	$7,300	$42,850	OK
ETHA +13C −16P +10P	$13.48	13	16	10	0	$17.33	$17.91	6	2.39x	25.8%	SAFE	50	$21,650	$67,425	OK
GLD +320C −450P +330P −390C	$377.29	320	450	330	390	$456.00	$471.20	120	1.88x	12.5%	SAFE	10	$136,000	$377,285	OK
GLXY +38C −38P +18P	$24.67	38	38	18	0	$39.71	$33.00	20	10.05x	29.1%	SAFE	125	$27,625	$308,375	OK
GOOG (Neville) +300C −345P +310P −375C	$363.94	300	345	310	375	$373.00	$336.65	35	1.48x	14.8%	SAFE	15	$109,500	$545,902	OK
GOOG (Neville) +340C −405P +360P −375C	$363.94	340	405	360	375	$398.00	$372.10	45	1.88x	1.1%	TIGHT	5	$25,500	$181,968	OK
HIMS +10C −20P +5P −48C	$36.40	10	20	5	48	$17.47	$18.78	15	4.04x	86.3%	SAFE	15	$7,395	$54,600	OK
IREN (RetireInc) +50C −70P +23P −60C	$40.23	50	70	23	60	$63.43	$67.52	47	7.86x	42.8%	SAFE	20	$13,700	$80,460	OK
MDB +270C −340P +150P −410C	$363.10	270	340	150	410	$362.90	$377.42	190	3.05x	58.7%	SAFE	1	$9,290	$36,310	OK
META +480C −650P +330P −630C	$615.63	480	650	330	630	$601.50	$601.89	320	5.38x	46.4%	SAFE	3	$21,900	$184,690	OK
MSTR +125C −185P +55P −112C	$98.53	125	185	55	112	$161.00	$167.50	130	11.83x	44.2%	SAFE	4	$4,800	$39,412	OK
MU (Main) +880C −1010P +320P −1180C	$919.00	880	1010	320	1180	$1028.60	$1056.41	690	5.64x	65.2%	SAFE	5	$74,300	$459,498	OK
MU (Neville) +970C −1110P +370P −1180C	$919.00	970	1110	370	1180	$1220.00	$1245.13	740	3.96x	59.7%	SAFE	2	$50,000	$183,799	OK
NEM +88C −105P +75P −98C	$94.85	88	105	75	98	$114.54	$116.83	30	2.11x	20.9%	SAFE	5	$13,520	$47,425	OK
NOW +80C −110P +90P −112C	$110.86	80	110	90	112	$108.93	$113.02	20	1.72x	18.8%	SAFE	10	$27,850	$110,860	OK
QCOM +190C −210P +90P −208C	$181.01	190	210	90	208	$224.00	$228.13	120	4.53x	50.3%	SAFE	5	$17,000	$90,505	OK
RIOT +17C −40P +17P	$21.39	17	40	17	0	$23.65	$31.60	23	6.24x	20.5%	SAFE	50	$21,950	$106,950	OK
RKLB +115C −135P +45P −101C	$83.75	115	135	45	101	$141.55	$147.78	90	4.39x	46.3%	SAFE	6	$15,930	$50,250	OK
SOFI +10C −13P +5P	$17.80	10	13	5	0	$15.75	$16.11	8	2.39x	71.9%	SAFE	35	$20,125	$62,318	OK
SPCX +150C −195P +135P −185C	$150.56	150	195	135	185	$186.00	$182.10	60	3.22x	10.3%	SAFE	5	$13,500	$75,280	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 100d

Stock: $40.23 HP: 13.0% OTM Current hedge: $51,830/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $132,765/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	100d	15.5%	$6.40	$-0.40	$-800	$46,720	$57,889	$5,110	13	$2,000	5mo	0mo	1.81x	PASS
2	33	Oct 16	100d	18.0%	$6.20	$-0.20	$-400	$45,260	$60,444	$6,570	14	$4,000	7mo	0mo	1.88x	PASS
3	33	Sep 18	72d	18.0%	$4.90	$1.10	$2,200	$49,681	$83,950	$2,149	14	$4,000	22mo	0mo	1.88x	PASS
4	32	Oct 16	100d	20.5%	$5.70	$0.30	$600	$41,610	$62,050	$10,220	15	$6,000	7mo	1mo	1.94x	PASS
5	32	Sep 18	72d	20.5%	$4.50	$1.50	$3,000	$45,625	$86,181	$6,205	15	$6,000	12mo	1mo	1.94x	PASS
6	31	Oct 16	100d	22.9%	$5.20	$0.80	$1,600	$37,960	$57,670	$13,870	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	72d	22.9%	$4.05	$1.95	$3,900	$41,062	$80,097	$10,768	16	$8,000	9mo	1mo	2.00x	PASS
8	30	Oct 16	100d	25.4%	$4.50	$1.50	$3,000	$32,850	$49,640	$18,980	17	$10,000	6mo	1mo	2.06x	PASS
9	30	Sep 18	72d	25.4%	$3.60	$2.40	$4,800	$36,500	$68,944	$15,330	17	$10,000	8mo	1mo	2.06x	PASS
10	29	Oct 16	100d	27.9%	$4.30	$1.70	$3,400	$31,390	$45,990	$20,440	18	$12,000	7mo	1mo	2.12x	PASS
11	29	Sep 18	72d	27.9%	$3.30	$2.70	$5,400	$33,458	$63,875	$18,372	18	$12,000	8mo	1mo	2.12x	PASS
12	34	Sep 18	72d	15.5%	$5.35	$0.65	$1,300	$54,243	$80,401	$-2,413	13	$2,000	N/A	0mo	1.81x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Aug 07 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $48, B $2.70	$64,800/yr	$46,720/yr	SELF-FUNDING
CC at MID $49 0.6σ, B $2.24	$53,760/yr	$46,720/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $40.23 → $32.18, hedge $57,889/yr)
CC at SS vs stressed	$64,800/yr	$57,889/yr	SELF-FUNDING
CC at MID vs stressed	$53,760/yr	$57,889/yr	DEFICIT $344/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at SS ($48, bid $2.70). Conservative far-OTM strike covers the hedge in BOTH normal and 20% drawdown — minimal assignment risk.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 100d

#	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	100d	15.5%	$6.40	$-0.40	$-800	$46,720	$57,889	$5,110	13	$2,000	5mo	0mo	1.81x	PASS
2	33	Oct 16	100d	18.0%	$6.20	$-0.20	$-400	$45,260	$60,444	$6,570	14	$4,000	7mo	0mo	1.88x	PASS
3	33	Sep 18	72d	18.0%	$4.90	$1.10	$2,200	$49,681	$83,950	$2,149	14	$4,000	22mo	0mo	1.88x	PASS
4	32	Oct 16	100d	20.5%	$5.70	$0.30	$600	$41,610	$62,050	$10,220	15	$6,000	7mo	1mo	1.94x	PASS
5	32	Sep 18	72d	20.5%	$4.50	$1.50	$3,000	$45,625	$86,181	$6,205	15	$6,000	12mo	1mo	1.94x	PASS
6	31	Oct 16	100d	22.9%	$5.20	$0.80	$1,600	$37,960	$57,670	$13,870	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	72d	22.9%	$4.05	$1.95	$3,900	$41,062	$80,097	$10,768	16	$8,000	9mo	1mo	2.00x	PASS
8	30	Oct 16	100d	25.4%	$4.50	$1.50	$3,000	$32,850	$49,640	$18,980	17	$10,000	6mo	1mo	2.06x	PASS
9	30	Sep 18	72d	25.4%	$3.60	$2.40	$4,800	$36,500	$68,944	$15,330	17	$10,000	8mo	1mo	2.06x	PASS
10	29	Oct 16	100d	27.9%	$4.30	$1.70	$3,400	$31,390	$45,990	$20,440	18	$12,000	7mo	1mo	2.12x	PASS
11	29	Sep 18	72d	27.9%	$3.30	$2.70	$5,400	$33,458	$63,875	$18,372	18	$12,000	8mo	1mo	2.12x	PASS
12	34	Sep 18	72d	15.5%	$5.35	$0.65	$1,300	$54,243	$80,401	$-2,413	13	$2,000	N/A	0mo	1.81x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Aug 07 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $48, B $2.70	$64,800/yr	$46,720/yr	SELF-FUNDING
CC at MID $49 0.6σ, B $2.24	$53,760/yr	$46,720/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $40.23 → $32.18, hedge $57,889/yr)
CC at SS vs stressed	$64,800/yr	$57,889/yr	SELF-FUNDING
CC at MID vs stressed	$53,760/yr	$57,889/yr	DEFICIT $344/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at SS ($48, bid $2.70). Conservative far-OTM strike covers the hedge in BOTH normal and 20% drawdown — minimal assignment risk.

BMNR: HP 10P Maintenance Roll-Out · exp Aug 21 '26, 44d

Stock: $15.05 Current HP: 10P (44d, 33.6% OTM) Current hedge: $8,710/yr Current ML: $71,250 CC income: $78,755/yr Cost cap: 25% of CC = $19,689/yr IV: HIGH 4 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 135d, 33.6% OTM) | Cost: $11,491/yr (15% of CC) | New ML: $71,250 = ML | Roll DEBIT $3,450 | Margin (TIMS): $868

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 12P (Jan 15 '27, 191d, 20.3% OTM) | Cost: $19,014/yr (24% of CC) | New ML: $61,250 ↓ $10,000 | Roll DEBIT $9,150 | Margin (TIMS): $778

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	135d	33.6%	$0.72	$0.85	$11,491	15%	$71,250	=	D $3,450
2	10	Jan 15	191d	33.6%	$1.05	$1.25	$11,944	15%	$71,250	=	D $5,450
3	11	Nov 20	135d	26.9%	$1.10	$1.13	$15,276	19%	$66,250	-$5,000	D $4,850
▶ 4	12 PROT	Jan 15	191d	20.3%	$1.86	$1.99	$19,014	24%	$61,250	-$10,000	D $9,150

POST-REPAIR SUSTAINABILITY CC chain Aug 07 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.30	$18,000/yr	$11,491/yr	SELF-FUNDING
CC at MID $18 0.6σ, B $0.57	$34,200/yr	$11,491/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($20, bid $0.30). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

IREN (Neville): HP 21P Maintenance Roll-Out · exp Aug 21 '26, 44d

Stock: $40.23 Current HP: 21P (44d, 47.8% OTM) Current hedge: $10,784/yr Current ML: $94,000 CC income: $132,765/yr Cost cap: 25% of CC = $33,191/yr IV: HIGH 18 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Oct 16 '26, 100d, 47.8% OTM) | Cost: $11,680/yr (9% of CC) | New ML: $94,000 = ML | Roll DEBIT $2,240 | Margin (TIMS): $1,756

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 30P (Oct 16 '26, 100d, 25.4% OTM) | Cost: $32,850/yr (25% of CC) | New ML: $76,000 ↓ $18,000 | Roll DEBIT $8,040 | Margin (TIMS): $1,553

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Oct 16	100d	47.8%	$1.12	$1.60	$11,680	9%	$94,000	=	D $2,240
2	21	Sep 18	72d	47.8%	$0.91	$1.21	$12,268	9%	$94,000	=	D $1,460
3	22	Oct 16	100d	45.3%	$1.47	$1.90	$13,870	10%	$92,000	-$2,000	D $2,840
4	22	Sep 18	72d	45.3%	$1.07	$1.53	$15,512	12%	$92,000	-$2,000	D $2,100
5	23	Oct 16	100d	42.8%	$1.50	$2.30	$16,790	13%	$90,000	-$4,000	D $3,640
6	23	Sep 18	72d	42.8%	$1.01	$1.73	$17,540	13%	$90,000	-$4,000	D $2,500
7	24	Sep 18	72d	40.3%	$1.44	$1.86	$18,858	14%	$88,000	-$6,000	D $2,760
8	24	Oct 16	100d	40.3%	$1.90	$2.60	$18,980	14%	$88,000	-$6,000	D $4,240
9	25	Oct 16	100d	37.9%	$2.07	$2.90	$21,170	16%	$86,000	-$8,000	D $4,840
10	25	Sep 18	72d	37.9%	$1.59	$2.10	$21,292	16%	$86,000	-$8,000	D $3,240
11	26	Oct 16	100d	35.4%	$2.42	$3.25	$23,725	18%	$84,000	-$10,000	D $5,540
12	26	Sep 18	72d	35.4%	$2.05	$2.40	$24,333	18%	$84,000	-$10,000	D $3,840
▶ 13	30 PROT	Oct 16	100d	25.4%	$4.25	$4.50	$32,850	25%	$76,000	-$18,000	D $8,040

POST-REPAIR SUSTAINABILITY CC chain Aug 07 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $2.24	$53,760/yr	$11,680/yr	SELF-FUNDING
CC at MID $49 0.5σ, B $2.24	$53,760/yr	$11,680/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($49, bid $2.24). 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, 44d

Stock: $109.55 Current HP: 35P (44d, 68.1% OTM) Current hedge: $373/yr Current ML: $47,000 CC income: $48,502/yr Cost cap: 25% of CC = $12,125/yr IV: HIGH 52 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 72d, 68.1% OTM) | Cost: $634/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $115 | Margin (TIMS): $3,012

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 80P (Oct 16 '26, 100d, 27.0% OTM) | Cost: $11,771/yr (24% of CC) | New ML: $24,500 ↓ $22,500 | Roll DEBIT $3,215 | Margin (TIMS): $2,705

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	72d	68.1%	$0.12	$0.25	$634	1%	$47,000	=	D $115
2	36	Sep 18	72d	67.1%	$0.14	$0.27	$684	1%	$46,500	-$500	D $125
3	37	Sep 18	72d	66.2%	$0.16	$0.28	$710	1%	$46,000	-$1,000	D $130
4	40	Sep 18	72d	63.5%	$0.25	$0.32	$811	2%	$44,500	-$2,500	D $150
5	39	Sep 18	72d	64.4%	$0.20	$0.33	$836	2%	$45,000	-$2,000	D $155
6	35	Oct 16	100d	68.1%	$0.17	$0.46	$840	2%	$47,000	=	D $220
7	38	Sep 18	72d	65.3%	$0.12	$0.35	$887	2%	$45,500	-$1,500	D $165
8	39	Oct 16	100d	64.4%	$0.37	$0.50	$912	2%	$45,000	-$2,000	D $240
9	40	Oct 16	100d	63.5%	$0.42	$0.53	$967	2%	$44,500	-$2,500	D $255
10	42	Sep 18	72d	61.7%	$0.28	$0.41	$1,039	2%	$43,500	-$3,500	D $195
11	43	Sep 18	72d	60.7%	$0.32	$0.43	$1,090	2%	$43,000	-$4,000	D $205
12	42	Oct 16	100d	61.7%	$0.40	$0.61	$1,113	2%	$43,500	-$3,500	D $295
▶ 13	80 PROT	Oct 16	100d	27.0%	$6.20	$6.45	$11,771	24%	$24,500	-$22,500	D $3,215

POST-REPAIR SUSTAINABILITY CC chain Aug 07 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $117, B $9.40	$56,400/yr	$634/yr	SELF-FUNDING
CC at MID $127 0.4σ, B $6.55	$39,300/yr	$634/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($117, bid $9.40). 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).