Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-09 13:30:45
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$97,333/yr

TOTAL HEDGE (REPAIRED)

$92,909/yr

ANNUAL SAVINGS

$4,424/yr

ROLL CREDITS

-$4,000

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	$14.83	10	18	10	0	$17.13	$19.53	8	2.28x	32.6%	SAFE	50	$31,250	$74,150	ROLL NOW (43d)
INTC → +85C −100P +35P	$111.09	85	100	35	0	$114.00	$116.94	65	3.24x	68.5%	SAFE	5	$14,500	$55,545	ROLL NOW (43d)
IREN (Neville) → +45C −65P +21P −48C	$43.57	45	65	21	48	$56.50	$59.13	44	15.67x	51.8%	SAFE	20	$6,000	$87,140	ROLL NOW (43d)
IREN (Joint) → +25C −47P +35P −55C	$43.57	25	47	35	55	$44.00	$49.58	12	1.75x	19.7%	SAFE	20	$32,000	$87,140	REPAIR PLAN (99d)
IREN (Main) → +25C −47P +35P −55C	$43.57	25	47	35	55	$44.00	$49.58	12	1.75x	19.7%	SAFE	20	$32,000	$87,140	REPAIR PLAN (99d)
GOOG (Joint) +310C −380C	$358.81	310	0	0	380	$392.50	$338.26	0	1.00x	0.0%	N/A	5	$41,250	$179,405	LEAPS-ONLY
GOOG (Main) +310C −380C	$358.81	310	0	0	380	$392.50	$338.26	0	1.00x	0.0%	N/A	10	$82,500	$358,810	LEAPS-ONLY
IGV +70C −100C	$92.69	70	0	0	100	$96.50	$87.54	0	1.00x	0.0%	N/A	12	$31,800	$111,228	LEAPS-ONLY
SPY +640C	$746.80	640	0	0	0	$764.00	$695.07	0	1.00x	0.0%	N/A	12	$148,800	$896,160	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$243.78	215	260	230	252	$256.25	$239.23	30	1.80x	5.7%	OK	10	$37,500	$243,780	OK
APP +460C −540P +185P −600C	$522.20	460	540	185	600	$588.00	$603.65	355	3.77x	64.6%	SAFE	1	$12,800	$52,220	OK
CLSK +17C −17P +10P	$12.46	17	17	10	0	$20.74	$17.13	7	2.87x	19.7%	SAFE	25	$9,350	$31,150	OK
COIN (Main) +165C −240P +85P −215C	$160.05	165	240	85	215	$210.90	$218.41	155	10.23x	46.9%	SAFE	8	$13,440	$128,040	OK
COIN (RetireInc) +145C −200P +75P −215C	$160.05	145	200	75	215	$182.40	$188.69	125	7.31x	53.1%	SAFE	3	$5,940	$48,015	OK
COPX +65C −90P +68P	$72.41	65	90	68	0	$93.40	$93.93	22	1.77x	6.1%	OK	20	$56,800	$144,820	OK
CRWV +105C −120P +40P −90C	$89.39	105	120	40	90	$125.45	$128.04	80	4.91x	55.3%	SAFE	5	$10,225	$44,695	OK
DELL +340C −390P +150P −450C	$433.95	340	390	150	450	$398.00	$410.30	240	5.14x	65.4%	SAFE	3	$17,400	$130,185	OK
ENPH +45C −60P +20P	$43.05	45	60	20	0	$56.15	$59.26	40	6.48x	53.5%	SAFE	10	$7,300	$43,050	OK
ETHA +13C −16P +10P	$13.11	13	16	10	0	$17.33	$18.01	6	2.39x	23.8%	SAFE	50	$21,650	$65,575	OK
GLD +320C −450P +330P −410C	$373.51	320	450	330	410	$456.00	$470.52	120	1.88x	11.6%	SAFE	10	$136,000	$373,510	OK
GLXY +38C −38P +18P	$24.90	38	38	18	0	$39.71	$33.98	20	10.05x	29.7%	SAFE	125	$27,625	$311,250	OK
GOOG (Neville) +300C −345P +310P −380C	$358.81	300	345	310	380	$373.00	$337.39	35	1.48x	13.6%	SAFE	15	$109,500	$538,215	OK
GOOG (Neville) +340C −405P +360P −380C	$358.81	340	405	360	380	$398.00	$375.10	45	1.88x	-0.3%	ITM	5	$25,500	$179,405	OK
HIMS +10C −20P +5P −48C	$36.19	10	20	5	48	$17.47	$19.49	15	4.04x	86.2%	SAFE	15	$7,395	$54,285	OK
IREN (RetireInc) +50C −70P +23P −48C	$43.57	50	70	23	48	$63.43	$68.67	47	7.86x	47.2%	SAFE	20	$13,700	$87,140	OK
MDB +270C −340P +150P −410C	$358.00	270	340	150	410	$362.90	$372.75	190	3.05x	58.1%	SAFE	1	$9,290	$35,800	OK
META +480C −650P +330P −630C	$604.51	480	650	330	630	$601.50	$605.59	320	5.38x	45.4%	SAFE	3	$21,900	$181,353	OK
MSTR +125C −185P +55P	$94.60	125	185	55	0	$161.00	$168.28	130	11.83x	41.9%	SAFE	4	$4,800	$37,840	OK
MU (Main) +880C −1010P +320P	$942.91	880	1010	320	0	$1028.60	$1051.37	690	5.64x	66.1%	SAFE	5	$74,300	$471,455	OK
MU (Neville) +970C −1110P +370P	$942.91	970	1110	370	0	$1220.00	$1241.20	740	3.96x	60.8%	SAFE	2	$50,000	$188,582	OK
NEM +88C −105P +75P −98C	$93.20	88	105	75	98	$114.54	$118.33	30	2.11x	19.5%	SAFE	5	$13,520	$46,600	OK
NOW +80C −110P +90P −112C	$108.20	80	110	90	112	$108.93	$112.08	20	1.72x	16.8%	SAFE	10	$27,850	$108,200	OK
NVDA +140C −175P +70P	$204.26	140	175	70	0	$199.60	$202.77	105	2.76x	65.7%	SAFE	5	$29,800	$102,130	OK
QCOM +190C −210P +90P −208C	$186.96	190	210	90	208	$224.00	$229.29	120	4.53x	51.9%	SAFE	5	$17,000	$93,478	OK
RIOT +17C −40P +17P	$21.09	17	40	17	0	$23.65	$31.60	23	6.62x	19.4%	SAFE	50	$20,450	$105,450	OK
RKLB +115C −135P +45P −101C	$85.35	115	135	45	101	$141.55	$150.42	90	4.39x	47.3%	SAFE	6	$15,930	$51,210	OK
SOFI +10C −13P +5P	$17.73	10	13	5	0	$15.75	$16.18	8	2.39x	71.8%	SAFE	35	$20,125	$62,055	OK
SPCX +150C −195P +135P	$149.21	150	195	135	0	$186.00	$184.00	60	3.22x	9.5%	OK	5	$13,500	$74,605	OK

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

Stock: $43.57 HP: 19.7% OTM Current hedge: $48,667/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $133,637/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 7 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	22.0%	$6.30	$-1.00	$-2,000	$46,455	$63,414	$2,212	13	$2,000	11mo	0mo	1.81x	PASS
2	33	Oct 16	99d	24.3%	$5.55	$-0.25	$-500	$40,924	$61,939	$7,742	14	$4,000	6mo	0mo	1.88x	PASS
3	33	Sep 18	71d	24.3%	$4.40	$0.90	$1,800	$45,239	$86,366	$3,427	14	$4,000	14mo	0mo	1.88x	PASS
4	32	Oct 16	99d	26.6%	$5.20	$0.10	$200	$38,343	$56,409	$10,323	15	$6,000	7mo	1mo	1.94x	PASS
5	32	Sep 18	71d	26.6%	$4.05	$1.25	$2,500	$41,641	$78,655	$7,026	15	$6,000	10mo	1mo	1.94x	PASS
6	31	Oct 16	99d	28.9%	$4.80	$0.50	$1,000	$35,394	$54,934	$13,273	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	71d	28.9%	$3.95	$1.35	$2,700	$40,613	$76,599	$8,054	16	$8,000	12mo	1mo	2.00x	PASS
8	34	Sep 18	71d	22.0%	$5.15	$0.15	$300	$52,951	$88,423	$-4,284	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 $2.65	$53,000/yr	$46,455/yr	SELF-FUNDING
CC at MID $54 0.6σ, B $2.27	$45,400/yr	$46,455/yr	DEFICIT $88/mo
AT 20% DRAWDOWN (stock $43.57 → $34.86, hedge $63,414/yr)
CC at SS vs stressed	$53,000/yr	$63,414/yr	DEFICIT $868/mo
CC at MID vs stressed	$45,400/yr	$63,414/yr	DEFICIT $1,501/mo

SUSTAINABLE AT SS Conservative CC covers repaired hedge

CC WRITING STRATEGY

WRITE CCs at SS ($50, bid $2.65). Hedge is light enough that conservative CCs cover it. Stress case unmodelled or insufficient data.

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	22.0%	$6.30	$-1.00	$-2,000	$46,455	$63,414	$2,212	13	$2,000	11mo	0mo	1.81x	PASS
2	33	Oct 16	99d	24.3%	$5.55	$-0.25	$-500	$40,924	$61,939	$7,742	14	$4,000	6mo	0mo	1.88x	PASS
3	33	Sep 18	71d	24.3%	$4.40	$0.90	$1,800	$45,239	$86,366	$3,427	14	$4,000	14mo	0mo	1.88x	PASS
4	32	Oct 16	99d	26.6%	$5.20	$0.10	$200	$38,343	$56,409	$10,323	15	$6,000	7mo	1mo	1.94x	PASS
5	32	Sep 18	71d	26.6%	$4.05	$1.25	$2,500	$41,641	$78,655	$7,026	15	$6,000	10mo	1mo	1.94x	PASS
6	31	Oct 16	99d	28.9%	$4.80	$0.50	$1,000	$35,394	$54,934	$13,273	16	$8,000	7mo	1mo	2.00x	PASS
7	31	Sep 18	71d	28.9%	$3.95	$1.35	$2,700	$40,613	$76,599	$8,054	16	$8,000	12mo	1mo	2.00x	PASS
8	34	Sep 18	71d	22.0%	$5.15	$0.15	$300	$52,951	$88,423	$-4,284	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 $2.65	$53,000/yr	$46,455/yr	SELF-FUNDING
CC at MID $54 0.6σ, B $2.27	$45,400/yr	$46,455/yr	DEFICIT $88/mo
AT 20% DRAWDOWN (stock $43.57 → $34.86, hedge $63,414/yr)
CC at SS vs stressed	$53,000/yr	$63,414/yr	DEFICIT $868/mo
CC at MID vs stressed	$45,400/yr	$63,414/yr	DEFICIT $1,501/mo

SUSTAINABLE AT SS Conservative CC covers repaired hedge

CC WRITING STRATEGY

WRITE CCs at SS ($50, bid $2.65). Hedge is light enough that conservative CCs cover it. Stress case unmodelled or insufficient data.

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

Stock: $14.83 Current HP: 10P (43d, 32.6% OTM) Current hedge: $10,610/yr Current ML: $71,250 CC income: $69,866/yr Cost cap: 25% of CC = $17,467/yr IV: HIGH 3 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 134d, 32.6% OTM) | Cost: $11,713/yr (17% of CC) | New ML: $71,250 = ML | Roll DEBIT $3,400 | Margin: n/a (RTH)

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 11P (Nov 20 '26, 134d, 25.8% OTM) | Cost: $15,935/yr (23% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $4,950 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	134d	32.6%	$0.83	$0.86	$11,713	17%	$71,250	=	D $3,400
2	10	Jan 15	190d	32.6%	$1.15	$1.27	$12,199	17%	$71,250	=	D $5,450
▶ 3	11 PROT	Nov 20	134d	25.8%	$1.13	$1.17	$15,935	23%	$66,250	-$5,000	D $4,950

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.20	$10,000/yr	$11,713/yr	DEFICIT $143/mo
CC at MID $18 0.6σ, B $0.60	$30,000/yr	$11,713/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($18, bid $0.60). 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: $43.57 Current HP: 21P (43d, 51.8% OTM) Current hedge: $13,751/yr Current ML: $94,000 CC income: $133,637/yr Cost cap: 25% of CC = $33,409/yr IV: HIGH 19 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Sep 18 '26, 71d, 51.8% OTM) | Cost: $11,413/yr (9% of CC) | New ML: $94,000 = ML | Roll DEBIT $2,040 | Margin: n/a (RTH)

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 30P (Sep 18 '26, 71d, 31.1% OTM) | Cost: $32,387/yr (24% of CC) | New ML: $76,000 ↓ $18,000 | Roll DEBIT $6,120 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Sep 18	71d	51.8%	$0.91	$1.11	$11,413	9%	$94,000	=	D $2,040
2	21	Oct 16	99d	51.8%	$1.30	$1.75	$12,904	10%	$94,000	=	D $3,320
3	22	Sep 18	71d	49.5%	$0.96	$1.33	$13,675	10%	$92,000	-$2,000	D $2,480
4	22	Oct 16	99d	49.5%	$1.50	$1.88	$13,863	10%	$92,000	-$2,000	D $3,580
5	23	Oct 16	99d	47.2%	$1.77	$2.24	$16,517	12%	$90,000	-$4,000	D $4,300
6	23	Sep 18	71d	47.2%	$1.25	$1.68	$17,273	13%	$90,000	-$4,000	D $3,180
7	24	Sep 18	71d	44.9%	$1.43	$1.68	$17,273	13%	$88,000	-$6,000	D $3,180
8	24	Oct 16	99d	44.9%	$1.95	$2.52	$18,582	14%	$88,000	-$6,000	D $4,860
9	25	Sep 18	71d	42.6%	$1.65	$1.93	$19,844	15%	$86,000	-$8,000	D $3,680
10	25	Oct 16	99d	42.6%	$2.18	$2.79	$20,573	15%	$86,000	-$8,000	D $5,400
11	26	Oct 16	99d	40.3%	$2.55	$2.99	$22,047	16%	$84,000	-$10,000	D $5,800
12	26	Sep 18	71d	40.3%	$1.75	$2.32	$23,854	18%	$84,000	-$10,000	D $4,460
▶ 13	30 PROT	Sep 18	71d	31.1%	$2.99	$3.15	$32,387	24%	$76,000	-$18,000	D $6,120

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $2.19	$43,800/yr	$11,413/yr	SELF-FUNDING
CC at MID $55 0.6σ, B $2.19	$43,800/yr	$11,413/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($55, bid $2.19). 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: $111.09 Current HP: 35P (43d, 68.5% OTM) Current hedge: $340/yr Current ML: $47,000 CC income: $55,739/yr Cost cap: 25% of CC = $13,935/yr IV: HIGH 54 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 71d, 68.5% OTM) | Cost: $565/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $100 | Margin: n/a (RTH)

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 82P (Oct 16 '26, 99d, 25.7% OTM) | Cost: $13,365/yr (24% of CC) | New ML: $23,250 ↓ $23,750 | Roll DEBIT $3,615 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	71d	68.5%	$0.10	$0.22	$565	1%	$47,000	=	D $100
2	36	Sep 18	71d	67.6%	$0.10	$0.24	$617	1%	$46,500	-$500	D $110
3	37	Sep 18	71d	66.7%	$0.12	$0.26	$668	1%	$46,000	-$1,000	D $120
4	40	Sep 18	71d	64.0%	$0.20	$0.29	$745	1%	$44,500	-$2,500	D $135
5	35	Oct 16	99d	68.5%	$0.10	$0.41	$756	1%	$47,000	=	D $195
6	39	Sep 18	71d	64.9%	$0.16	$0.30	$771	1%	$45,000	-$2,000	D $140
7	38	Sep 18	71d	65.8%	$0.10	$0.35	$900	2%	$45,500	-$1,500	D $165
8	39	Oct 16	99d	64.9%	$0.30	$0.49	$903	2%	$45,000	-$2,000	D $235
9	40	Oct 16	99d	64.0%	$0.35	$0.53	$977	2%	$44,500	-$2,500	D $255
10	42	Sep 18	71d	62.2%	$0.23	$0.39	$1,002	2%	$43,500	-$3,500	D $185
11	41	Sep 18	71d	63.1%	$0.13	$0.42	$1,080	2%	$44,000	-$3,000	D $200
12	43	Sep 18	71d	61.3%	$0.27	$0.42	$1,080	2%	$43,000	-$4,000	D $200
▶ 13	82 PROT	Oct 16	99d	25.7%	$6.45	$7.25	$13,365	24%	$23,250	-$23,750	D $3,615

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $117, B $10.30	$51,500/yr	$565/yr	SELF-FUNDING
CC at MID $128 0.4σ, B $7.00	$35,000/yr	$565/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($117, bid $10.30). 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).