Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-08 21:38:25
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$24,969/yr

TOTAL HEDGE (CHEAPEST)

$26,569/yr

Δ HEDGE (CHEAPEST vs CURRENT)

+$1,600/yr

ROLL DEBIT (CHEAPEST)

-$8,930

MAX LOSS REDUCTION (PROTECTIVE)

-$39,750

PORTFOLIO ACTION SUMMARY · 37 positions

3 · ROLL NOW4 · LEAPS-ONLY30 · 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	$14.72	10	18	10	0	$17.13	$19.93	8	2.28x	32.1%	SAFE	50	$31,250	$73,625	ROLL NOW (44d)
INTC → +85C −100P +35P	$108.99	85	100	35	0	$114.00	$116.75	65	3.24x	67.9%	SAFE	5	$14,500	$54,496	ROLL NOW (44d)
IREN (Neville) → +45C −65P +21P −60C	$41.99	45	65	21	60	$56.50	$60.03	44	15.67x	50.0%	SAFE	20	$6,000	$83,980	ROLL NOW (44d)
GOOG (Joint) +310C −380C	$361.57	310	0	0	380	$392.50	$338.68	0	1.00x	0.0%	N/A	5	$41,250	$180,788	LEAPS-ONLY
GOOG (Main) +310C −380C	$361.57	310	0	0	380	$392.50	$338.68	0	1.00x	0.0%	N/A	10	$82,500	$361,575	LEAPS-ONLY
IGV +70C −100C	$92.64	70	0	0	100	$96.50	$84.91	0	1.00x	0.0%	N/A	12	$31,800	$111,168	LEAPS-ONLY
SPY +640C −765C	$743.47	640	0	0	765	$764.00	$693.91	0	1.00x	0.0%	N/A	12	$148,800	$892,164	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$242.13	215	260	230	252	$256.25	$239.37	30	1.80x	5.0%	OK	10	$37,500	$242,135	OK
APP +460C −540P +185P −600C	$517.49	460	540	185	600	$588.00	$602.08	355	3.77x	64.3%	SAFE	1	$12,800	$51,749	OK
CLSK +17C −17P +10P	$12.59	17	17	10	0	$20.74	$17.13	7	2.87x	20.6%	SAFE	25	$9,350	$31,475	OK
COIN (Main) +165C −240P +85P −215C	$160.51	165	240	85	215	$210.90	$217.94	155	10.23x	47.0%	SAFE	8	$13,440	$128,408	OK
COIN (RetireInc) +145C −200P +75P −185C	$160.51	145	200	75	185	$182.40	$188.67	125	7.31x	53.3%	SAFE	3	$5,940	$48,153	OK
COPX +65C −90P +68P	$73.04	65	90	68	0	$93.40	$94.68	22	1.77x	6.9%	OK	20	$56,800	$146,080	OK
CRWV +105C −120P +40P −90C	$84.83	105	120	40	90	$125.45	$129.90	80	4.91x	52.8%	SAFE	5	$10,225	$42,415	OK
DELL +340C −390P +150P −450C	$435.00	340	390	150	450	$398.00	$409.02	240	5.14x	65.5%	SAFE	3	$17,400	$130,500	OK
ENPH +45C −60P +20P	$42.19	45	60	20	0	$56.15	$59.11	40	6.48x	52.6%	SAFE	10	$7,300	$42,190	OK
ETHA +13C −16P +10P	$13.12	13	16	10	0	$17.33	$18.05	6	2.39x	23.8%	SAFE	50	$21,650	$65,575	OK
GLD +320C −450P +330P −390C	$373.98	320	450	330	390	$456.00	$471.45	120	1.88x	11.8%	SAFE	10	$136,000	$373,980	OK
GLXY +38C −38P +18P	$24.18	38	38	18	0	$39.71	$34.07	20	10.05x	27.6%	SAFE	125	$27,625	$302,250	OK
GOOG (Neville) +300C −345P +310P −375C	$361.57	300	345	310	375	$373.00	$338.33	35	1.48x	14.3%	SAFE	15	$109,500	$542,362	OK
GOOG (Neville) +340C −405P +360P −375C	$361.57	340	405	360	375	$398.00	$375.36	45	1.88x	0.4%	TIGHT	5	$25,500	$180,788	OK
HIMS +10C −20P +5P −48C	$36.01	10	20	5	48	$17.47	$18.94	15	4.04x	86.1%	SAFE	15	$7,395	$54,015	OK
IREN (Joint) +25C −47P +35P −60C	$41.99	25	47	35	60	$44.00	$49.33	12	1.75x	16.6%	SAFE	20	$32,000	$83,980	OK
IREN (Main) +25C −47P +35P −60C	$41.99	25	47	35	60	$44.00	$49.33	12	1.75x	16.6%	SAFE	20	$32,000	$83,980	OK
IREN (RetireInc) +50C −70P +23P −60C	$41.99	50	70	23	60	$63.43	$67.79	47	7.86x	45.2%	SAFE	20	$13,700	$83,980	OK
MDB +270C −340P +150P −410C	$362.39	270	340	150	410	$362.90	$378.31	190	3.05x	58.6%	SAFE	1	$9,290	$36,239	OK
META +480C −650P +330P −630C	$606.50	480	650	330	630	$601.50	$604.99	320	5.38x	45.6%	SAFE	3	$21,900	$181,950	OK
MSTR +125C −185P +55P −112C	$93.60	125	185	55	112	$161.00	$168.66	130	11.83x	41.2%	SAFE	4	$4,800	$37,440	OK
MU (Main) +880C −1010P +320P −1180C	$941.03	880	1010	320	1180	$1028.60	$1055.42	690	5.64x	66.0%	SAFE	5	$74,300	$470,515	OK
MU (Neville) +970C −1110P +370P −1180C	$941.03	970	1110	370	1180	$1220.00	$1245.63	740	3.96x	60.7%	SAFE	2	$50,000	$188,206	OK
NEM +88C −105P +75P −98C	$94.41	88	105	75	98	$114.54	$118.96	30	2.11x	20.6%	SAFE	5	$13,520	$47,205	OK
NOW +80C −110P +90P −112C	$106.70	80	110	90	112	$108.93	$111.45	20	1.72x	15.7%	SAFE	10	$27,850	$106,700	OK
QCOM +190C −210P +90P −208C	$184.29	190	210	90	208	$224.00	$228.73	120	4.53x	51.2%	SAFE	5	$17,000	$92,145	OK
RIOT +17C −40P +17P	$21.67	17	40	17	0	$23.65	$32.43	23	5.93x	21.6%	SAFE	50	$23,350	$108,350	OK
RKLB +115C −135P +45P −101C	$85.12	115	135	45	101	$141.55	$147.54	90	4.39x	47.1%	SAFE	6	$15,930	$51,072	OK
SOFI +10C −13P +5P	$17.50	10	13	5	0	$15.75	$16.27	8	2.39x	71.4%	SAFE	35	$20,125	$61,250	OK
SPCX +150C −195P +135P −185C	$151.52	150	195	135	185	$186.00	$182.26	60	3.22x	10.9%	SAFE	5	$13,500	$75,760	OK

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

Stock: $14.72 Current HP: 10P (44d, 32.1% OTM) Current hedge: $10,784/yr Current ML: $71,250 CC income: $57,403/yr Cost cap: 25% of CC = $14,351/yr IV: HIGH 2 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Jan 15 '27, 191d, 32.1% OTM) | Cost: $13,186/yr (23% of CC) | New ML: $71,250 = ML | Roll DEBIT $6,000 | Margin (TIMS): $843

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	191d	32.1%	$1.14	$1.38	$13,186	23%	$71,250	=	D $6,000
2	10	Nov 20	135d	32.1%	$0.81	$1.01	$13,654	24%	$71,250	=	D $4,150

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.15	$9,000/yr	$13,186/yr	DEFICIT $349/mo
CC at MID $18 0.7σ, B $0.50	$30,000/yr	$13,186/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($18, bid $0.50). 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, 44d

Stock: $41.99 Current HP: 21P (44d, 50.0% OTM) Current hedge: $13,770/yr Current ML: $94,000 CC income: $124,807/yr Cost cap: 25% of CC = $31,202/yr IV: HIGH 17 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Oct 16 '26, 100d, 50.0% OTM) | Cost: $12,775/yr (10% of CC) | New ML: $94,000 = ML | Roll DEBIT $2,820 | Margin (TIMS): $1,856

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 29P (Oct 16 '26, 100d, 30.9% OTM) | Cost: $30,660/yr (25% of CC) | New ML: $78,000 ↓ $16,000 | Roll DEBIT $7,720 | Margin (TIMS): $1,677

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Oct 16	100d	50.0%	$1.30	$1.75	$12,775	10%	$94,000	=	D $2,820
2	21	Sep 18	72d	50.0%	$0.86	$1.34	$13,586	11%	$94,000	=	D $2,000
3	22	Oct 16	100d	47.6%	$1.52	$1.99	$14,527	12%	$92,000	-$2,000	D $3,300
4	22	Sep 18	72d	47.6%	$1.03	$1.52	$15,411	12%	$92,000	-$2,000	D $2,360
5	23	Oct 16	100d	45.2%	$1.76	$2.24	$16,352	13%	$90,000	-$4,000	D $3,800
6	23	Sep 18	72d	45.2%	$1.22	$1.72	$17,439	14%	$90,000	-$4,000	D $2,760
7	24	Oct 16	100d	42.8%	$2.03	$2.52	$18,396	15%	$88,000	-$6,000	D $4,360
8	24	Sep 18	72d	42.8%	$1.43	$1.93	$19,568	16%	$88,000	-$6,000	D $3,180
9	25	Oct 16	100d	40.5%	$2.31	$2.79	$20,367	16%	$86,000	-$8,000	D $4,900
10	25	Sep 18	72d	40.5%	$1.65	$2.15	$21,799	17%	$86,000	-$8,000	D $3,620
11	26	Oct 16	100d	38.1%	$2.62	$3.15	$22,995	18%	$84,000	-$10,000	D $5,620
12	26	Sep 18	72d	38.1%	$1.93	$2.43	$24,638	20%	$84,000	-$10,000	D $4,180
▶ 13	29 PROT	Oct 16	100d	30.9%	$3.65	$4.20	$30,660	25%	$78,000	-$16,000	D $7,720

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $52, B $1.95	$46,800/yr	$12,775/yr	SELF-FUNDING
CC at MID $52 0.6σ, B $1.95	$46,800/yr	$12,775/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($52, bid $1.95). 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: $108.99 Current HP: 35P (44d, 67.9% OTM) Current hedge: $415/yr Current ML: $47,000 CC income: $54,640/yr Cost cap: 25% of CC = $13,660/yr IV: HIGH 54 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 72d, 67.9% OTM) | Cost: $608/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $110 | Margin (TIMS): $3,178

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 82P (Oct 16 '26, 100d, 24.3% OTM) | Cost: $13,596/yr (25% of CC) | New ML: $23,250 ↓ $23,750 | Roll DEBIT $3,715 | Margin (TIMS): $2,734

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	72d	67.9%	$0.11	$0.24	$608	1%	$47,000	=	D $110
2	36	Sep 18	72d	67.0%	$0.13	$0.27	$684	1%	$46,500	-$500	D $125
3	37	Sep 18	72d	66.1%	$0.15	$0.29	$735	1%	$46,000	-$1,000	D $135
4	40	Sep 18	72d	63.3%	$0.22	$0.32	$811	1%	$44,500	-$2,500	D $150
5	39	Sep 18	72d	64.2%	$0.19	$0.33	$836	2%	$45,000	-$2,000	D $155
6	35	Oct 16	100d	67.9%	$0.14	$0.46	$840	2%	$47,000	=	D $220
7	38	Sep 18	72d	65.1%	$0.10	$0.35	$887	2%	$45,500	-$1,500	D $165
8	39	Oct 16	100d	64.2%	$0.35	$0.50	$912	2%	$45,000	-$2,000	D $240
9	40	Oct 16	100d	63.3%	$0.39	$0.57	$1,040	2%	$44,500	-$2,500	D $275
10	42	Sep 18	72d	61.5%	$0.27	$0.42	$1,065	2%	$43,500	-$3,500	D $200
11	43	Sep 18	72d	60.5%	$0.30	$0.45	$1,141	2%	$43,000	-$4,000	D $215
12	41	Sep 18	72d	62.4%	$0.17	$0.46	$1,166	2%	$44,000	-$3,000	D $220
▶ 13	82 PROT	Oct 16	100d	24.3%	$6.95	$7.45	$13,596	25%	$23,250	-$23,750	D $3,715

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $117, B $8.80	$52,800/yr	$608/yr	SELF-FUNDING
CC at MID $126 0.4σ, B $6.30	$37,800/yr	$608/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($117, bid $8.80). 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).