Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-09 03:41:23
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

-$1,400

ADDITIONAL MAX LOSS

$4,000

PORTFOLIO ACTION SUMMARY · 38 positions

3 · ROLL NOW2 · REPAIR PLAN4 · LEAPS-ONLY29 · 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	$14.79	10	18	10	0	$17.13	$19.86	8	2.28x	32.4%	SAFE	50	$31,250	$73,975	ROLL NOW (43d)
INTC → +85C −100P +35P	$107.72	85	100	35	0	$114.00	$116.51	65	3.24x	67.5%	SAFE	5	$14,500	$53,862	ROLL NOW (43d)
IREN (Neville) → +45C −65P +21P −48C	$42.68	45	65	21	48	$56.50	$59.72	44	15.67x	50.8%	SAFE	20	$6,000	$85,360	ROLL NOW (43d)
IREN (Joint) → +25C −47P +35P −55C	$42.68	25	47	35	55	$44.00	$49.01	12	1.75x	18.0%	SAFE	20	$32,000	$85,360	REPAIR PLAN (99d)
IREN (Main) → +25C −47P +35P −55C	$42.68	25	47	35	55	$44.00	$49.01	12	1.75x	18.0%	SAFE	20	$32,000	$85,360	REPAIR PLAN (99d)
GOOG (Joint) +310C −380C	$356.15	310	0	0	380	$392.50	$338.97	0	1.00x	0.0%	N/A	5	$41,250	$178,075	LEAPS-ONLY
GOOG (Main) +310C −380C	$356.15	310	0	0	380	$392.50	$338.97	0	1.00x	0.0%	N/A	10	$82,500	$356,150	LEAPS-ONLY
IGV +70C −100C	$92.64	70	0	0	100	$96.50	$87.08	0	1.00x	0.0%	N/A	12	$31,800	$111,168	LEAPS-ONLY
SPY +640C	$745.22	640	0	0	0	$764.00	$694.24	0	1.00x	0.0%	N/A	12	$148,800	$894,264	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$242.86	215	260	230	252	$256.25	$240.04	30	1.80x	5.3%	OK	10	$37,500	$242,860	OK
APP +460C −540P +185P −600C	$522.56	460	540	185	600	$588.00	$601.12	355	3.77x	64.6%	SAFE	1	$12,800	$52,256	OK
CLSK +17C −17P +10P	$12.27	17	17	10	0	$20.74	$17.50	7	2.87x	18.5%	SAFE	25	$9,350	$30,662	OK
COIN (Main) +165C −240P +85P −215C	$160.89	165	240	85	215	$210.90	$217.75	155	10.23x	47.2%	SAFE	8	$13,440	$128,713	OK
COIN (RetireInc) +145C −200P +75P −215C	$160.89	145	200	75	215	$182.40	$188.27	125	7.31x	53.4%	SAFE	3	$5,940	$48,267	OK
COPX +65C −90P +68P	$73.10	65	90	68	0	$93.40	$94.28	22	1.77x	7.0%	OK	20	$56,800	$146,200	OK
CRWV +105C −120P +40P −90C	$89.19	105	120	40	90	$125.45	$128.58	80	4.91x	55.2%	SAFE	5	$10,225	$44,595	OK
DELL +340C −390P +150P −450C	$430.52	340	390	150	450	$398.00	$408.87	240	5.14x	65.2%	SAFE	3	$17,400	$129,156	OK
ENPH +45C −60P +20P	$42.48	45	60	20	0	$56.15	$60.21	40	6.48x	52.9%	SAFE	10	$7,300	$42,485	OK
ETHA +13C −16P +10P	$13.12	13	16	10	0	$17.33	$18.02	6	2.39x	23.8%	SAFE	50	$21,650	$65,595	OK
GLD +320C −450P +330P −410C	$375.04	320	450	330	410	$456.00	$471.29	120	1.88x	12.0%	SAFE	10	$136,000	$375,040	OK
GLXY +38C −38P +18P	$24.34	38	38	18	0	$39.71	$33.71	20	10.05x	28.1%	SAFE	125	$27,625	$304,250	OK
GOOG (Neville) +300C −345P +310P −380C	$356.15	300	345	310	380	$373.00	$338.45	35	1.48x	13.0%	SAFE	15	$109,500	$534,225	OK
GOOG (Neville) +340C −405P +360P −380C	$356.15	340	405	360	380	$398.00	$375.11	45	1.88x	-1.1%	ITM	5	$25,500	$178,075	OK
HIMS +10C −20P +5P −48C	$36.31	10	20	5	48	$17.47	$19.80	15	4.04x	86.2%	SAFE	15	$7,395	$54,465	OK
IREN (RetireInc) +50C −70P +23P −48C	$42.68	50	70	23	48	$63.43	$67.69	47	7.86x	46.1%	SAFE	20	$13,700	$85,360	OK
MDB +270C −340P +150P −410C	$359.27	270	340	150	410	$362.90	$374.70	190	3.05x	58.2%	SAFE	1	$9,290	$35,927	OK
META +480C −650P +330P −630C	$601.03	480	650	330	630	$601.50	$604.16	320	5.38x	45.1%	SAFE	3	$21,900	$180,309	OK
MSTR +125C −185P +55P	$94.69	125	185	55	0	$161.00	$168.21	130	11.83x	41.9%	SAFE	4	$4,800	$37,874	OK
MU (Main) +880C −1010P +320P	$947.25	880	1010	320	0	$1028.60	$1057.84	690	5.64x	66.2%	SAFE	5	$74,300	$473,625	OK
MU (Neville) +970C −1110P +370P	$947.25	970	1110	370	0	$1220.00	$1246.91	740	3.96x	60.9%	SAFE	2	$50,000	$189,450	OK
NEM +88C −105P +75P −98C	$93.03	88	105	75	98	$114.54	$118.26	30	2.11x	19.4%	SAFE	5	$13,520	$46,517	OK
NOW +80C −110P +90P −112C	$107.78	80	110	90	112	$108.93	$112.04	20	1.72x	16.5%	SAFE	10	$27,850	$107,780	OK
NVDA +140C −175P +70P	$204.44	140	175	70	0	$199.60	$202.94	105	2.76x	65.8%	SAFE	5	$29,800	$102,220	OK
QCOM +190C −210P +90P −208C	$185.10	190	210	90	208	$224.00	$228.22	120	4.53x	51.4%	SAFE	5	$17,000	$92,550	OK
RIOT +17C −40P +17P	$21.21	17	40	17	0	$23.65	$31.92	23	6.46x	19.9%	SAFE	50	$21,075	$106,075	OK
RKLB +115C −135P +45P −101C	$82.89	115	135	45	101	$141.55	$147.99	90	4.39x	45.7%	SAFE	6	$15,930	$49,734	OK
SOFI +10C −13P +5P	$17.64	10	13	5	0	$15.75	$16.17	8	2.39x	71.6%	SAFE	35	$20,125	$61,723	OK
SPCX +150C −195P +135P	$145.52	150	195	135	0	$186.00	$181.17	60	3.22x	7.2%	OK	5	$13,500	$72,759	OK

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

Stock: $42.68 HP: 18.0% OTM Current hedge: $49,404/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $150,172/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 9 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	20.3%	$6.30	$-0.35	$-700	$46,455	$67,322	$2,949	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Oct 16	99d	22.7%	$5.40	$0.55	$1,100	$39,818	$61,939	$9,586	14	$4,000	5mo	0mo	1.88x	PASS
3	33	Sep 18	71d	22.7%	$4.45	$1.50	$3,000	$45,754	$86,366	$3,651	14	$4,000	13mo	0mo	1.88x	PASS
4	32	Oct 16	99d	25.0%	$5.00	$0.95	$1,900	$36,869	$57,146	$12,535	15	$6,000	6mo	0mo	1.94x	PASS
5	32	Sep 18	71d	25.0%	$4.05	$1.90	$3,800	$41,641	$79,683	$7,763	15	$6,000	9mo	0mo	1.94x	PASS
6	31	Oct 16	99d	27.4%	$4.80	$1.15	$2,300	$35,394	$54,197	$14,010	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	71d	27.4%	$3.70	$2.25	$4,500	$38,042	$75,570	$11,362	16	$8,000	8mo	1mo	2.00x	PASS
8	30	Sep 18	71d	29.7%	$3.15	$2.80	$5,600	$32,387	$69,401	$17,017	17	$10,000	7mo	1mo	2.06x	PASS
9	30	Oct 16	99d	29.7%	$4.40	$1.55	$3,100	$32,444	$49,773	$16,960	17	$10,000	7mo	1mo	2.06x	PASS
10	34	Sep 18	71d	20.3%	$5.15	$0.80	$1,600	$52,951	$93,872	$-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 $50, B $3.25	$65,000/yr	$46,455/yr	SELF-FUNDING
CC at MID $53 0.6σ, B $2.60	$52,000/yr	$46,455/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $42.68 → $34.14, hedge $67,322/yr)
CC at SS vs stressed	$65,000/yr	$67,322/yr	DEFICIT $194/mo
CC at MID vs stressed	$52,000/yr	$67,322/yr	DEFICIT $1,277/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($53, bid $2.60) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$1,277/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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	20.3%	$6.30	$-0.35	$-700	$46,455	$67,322	$2,949	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Oct 16	99d	22.7%	$5.40	$0.55	$1,100	$39,818	$61,939	$9,586	14	$4,000	5mo	0mo	1.88x	PASS
3	33	Sep 18	71d	22.7%	$4.45	$1.50	$3,000	$45,754	$86,366	$3,651	14	$4,000	13mo	0mo	1.88x	PASS
4	32	Oct 16	99d	25.0%	$5.00	$0.95	$1,900	$36,869	$57,146	$12,535	15	$6,000	6mo	0mo	1.94x	PASS
5	32	Sep 18	71d	25.0%	$4.05	$1.90	$3,800	$41,641	$79,683	$7,763	15	$6,000	9mo	0mo	1.94x	PASS
6	31	Oct 16	99d	27.4%	$4.80	$1.15	$2,300	$35,394	$54,197	$14,010	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	71d	27.4%	$3.70	$2.25	$4,500	$38,042	$75,570	$11,362	16	$8,000	8mo	1mo	2.00x	PASS
8	30	Sep 18	71d	29.7%	$3.15	$2.80	$5,600	$32,387	$69,401	$17,017	17	$10,000	7mo	1mo	2.06x	PASS
9	30	Oct 16	99d	29.7%	$4.40	$1.55	$3,100	$32,444	$49,773	$16,960	17	$10,000	7mo	1mo	2.06x	PASS
10	34	Sep 18	71d	20.3%	$5.15	$0.80	$1,600	$52,951	$93,872	$-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 $50, B $3.25	$65,000/yr	$46,455/yr	SELF-FUNDING
CC at MID $53 0.6σ, B $2.60	$52,000/yr	$46,455/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $42.68 → $34.14, hedge $67,322/yr)
CC at SS vs stressed	$65,000/yr	$67,322/yr	DEFICIT $194/mo
CC at MID vs stressed	$52,000/yr	$67,322/yr	DEFICIT $1,277/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($53, bid $2.60) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$1,277/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

Stock: $14.79 Current HP: 10P (43d, 32.4% OTM) Current hedge: $10,610/yr Current ML: $71,250 CC income: $67,779/yr Cost cap: 25% of CC = $16,945/yr IV: HIGH 3 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 134d, 32.4% OTM) | Cost: $11,849/yr (17% of CC) | New ML: $71,250 = ML | Roll DEBIT $3,300 | Margin (TIMS): $831

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 11P (Nov 20 '26, 134d, 25.7% OTM) | Cost: $16,071/yr (24% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $4,850 | Margin (TIMS): $763

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	134d	32.4%	$0.85	$0.87	$11,849	17%	$71,250	=	D $3,300
2	10	Jan 15	190d	32.4%	$1.17	$1.27	$12,199	18%	$71,250	=	D $5,300
▶ 3	11 PROT	Nov 20	134d	25.7%	$1.16	$1.18	$16,071	24%	$66,250	-$5,000	D $4,850

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.20	$10,000/yr	$11,849/yr	DEFICIT $154/mo
CC at MID $18 0.6σ, B $0.57	$28,500/yr	$11,849/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($18, bid $0.57). 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: $42.68 Current HP: 21P (43d, 50.8% OTM) Current hedge: $10,356/yr Current ML: $94,000 CC income: $150,172/yr Cost cap: 25% of CC = $37,543/yr IV: HIGH 22 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Sep 18 '26, 71d, 50.8% OTM) | Cost: $11,413/yr (8% of CC) | New ML: $94,000 = ML | Roll DEBIT $1,640 | Margin (TIMS): $1,933

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 32P (Oct 16 '26, 99d, 25.0% OTM) | Cost: $36,869/yr (25% of CC) | New ML: $72,000 ↓ $22,000 | Roll DEBIT $9,420 | Margin (TIMS): $1,649

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Sep 18	71d	50.8%	$0.91	$1.11	$11,413	8%	$94,000	=	D $1,640
2	21	Oct 16	99d	50.8%	$1.30	$1.75	$12,904	9%	$94,000	=	D $2,920
3	22	Sep 18	71d	48.5%	$0.96	$1.33	$13,675	9%	$92,000	-$2,000	D $2,080
4	22	Oct 16	99d	48.5%	$1.50	$1.88	$13,863	9%	$92,000	-$2,000	D $3,180
5	23	Sep 18	71d	46.1%	$1.25	$1.48	$15,217	10%	$90,000	-$4,000	D $2,380
6	23	Oct 16	99d	46.1%	$1.78	$2.24	$16,517	11%	$90,000	-$4,000	D $3,900
7	24	Sep 18	71d	43.8%	$1.43	$1.68	$17,273	12%	$88,000	-$6,000	D $2,780
8	24	Oct 16	99d	43.8%	$2.03	$2.52	$18,582	12%	$88,000	-$6,000	D $4,460
9	25	Sep 18	71d	41.4%	$1.65	$1.93	$19,844	13%	$86,000	-$8,000	D $3,280
10	25	Oct 16	99d	41.4%	$2.17	$2.79	$20,573	14%	$86,000	-$8,000	D $5,000
11	26	Sep 18	71d	39.1%	$1.91	$2.12	$21,797	15%	$84,000	-$10,000	D $3,660
12	26	Oct 16	99d	39.1%	$2.55	$2.99	$22,047	15%	$84,000	-$10,000	D $5,400
▶ 13	32 PROT	Oct 16	99d	25.0%	$4.65	$5.00	$36,869	25%	$72,000	-$22,000	D $9,420

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $53, B $2.60	$52,000/yr	$11,413/yr	SELF-FUNDING
CC at MID $53 0.5σ, B $2.60	$52,000/yr	$11,413/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($53, bid $2.60). 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: $107.72 Current HP: 35P (43d, 67.5% OTM) Current hedge: $340/yr Current ML: $47,000 CC income: $46,530/yr Cost cap: 25% of CC = $11,632/yr IV: HIGH 50 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 71d, 67.5% OTM) | Cost: $591/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $105 | Margin (TIMS): $3,251

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 78P (Oct 16 '26, 99d, 28.1% OTM) | Cost: $10,968/yr (24% of CC) | New ML: $25,750 ↓ $21,250 | Roll DEBIT $2,965 | Margin (TIMS): $2,930

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	71d	67.5%	$0.12	$0.23	$591	1%	$47,000	=	D $105
2	36	Sep 18	71d	66.6%	$0.14	$0.25	$643	1%	$46,500	-$500	D $115
3	37	Sep 18	71d	65.7%	$0.16	$0.25	$643	1%	$46,000	-$1,000	D $115
4	35	Oct 16	99d	67.5%	$0.16	$0.41	$756	2%	$47,000	=	D $195
5	40	Sep 18	71d	62.9%	$0.20	$0.30	$771	2%	$44,500	-$2,500	D $140
6	39	Sep 18	71d	63.8%	$0.19	$0.32	$823	2%	$45,000	-$2,000	D $150
7	38	Sep 18	71d	64.7%	$0.11	$0.35	$900	2%	$45,500	-$1,500	D $165
8	39	Oct 16	99d	63.8%	$0.32	$0.50	$922	2%	$45,000	-$2,000	D $240
9	40	Oct 16	99d	62.9%	$0.36	$0.54	$995	2%	$44,500	-$2,500	D $260
10	42	Sep 18	71d	61.0%	$0.25	$0.40	$1,028	2%	$43,500	-$3,500	D $190
11	41	Oct 16	99d	61.9%	$0.36	$0.57	$1,051	2%	$44,000	-$3,000	D $275
12	43	Sep 18	71d	60.1%	$0.28	$0.43	$1,105	2%	$43,000	-$4,000	D $205
▶ 13	78 PROT	Oct 16	99d	28.1%	$5.55	$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 $9.25	$46,250/yr	$591/yr	SELF-FUNDING
CC at MID $125 0.4σ, B $7.10	$35,500/yr	$591/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($117, bid $9.25). 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).