Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-10 10:06:29
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$20,814/yr

TOTAL HEDGE (CHEAPEST)

$25,516/yr

Δ HEDGE (CHEAPEST vs CURRENT)

+$4,702/yr

ROLL DEBIT (CHEAPEST)

-$8,775

MAX LOSS REDUCTION (PROTECTIVE)

-$42,250

PORTFOLIO ACTION SUMMARY · 38 positions

3 · ROLL NOW4 · LEAPS-ONLY31 · 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	$14.93	10	18	10	0	$17.13	$20.00	8	2.28x	33.0%	SAFE	50	$31,250	$74,650	ROLL NOW (42d)
INTC → +85C −100P +35P −130C	$111.80	85	100	35	130	$114.00	$115.98	65	3.24x	68.7%	SAFE	5	$14,500	$55,900	ROLL NOW (42d)
IREN (Neville) → +45C −65P +21P −53C	$42.02	45	65	21	53	$56.50	$59.22	44	15.67x	50.0%	SAFE	20	$6,000	$84,040	ROLL NOW (42d)
GOOG (Joint) +310C −380C	$354.89	310	0	0	380	$392.50	$338.14	0	1.00x	0.0%	N/A	5	$41,250	$177,445	LEAPS-ONLY
GOOG (Main) +310C −380C	$354.89	310	0	0	380	$392.50	$338.14	0	1.00x	0.0%	N/A	10	$82,500	$354,890	LEAPS-ONLY
IGV +70C −100C	$93.80	70	0	0	100	$96.50	$86.26	0	1.00x	0.0%	N/A	12	$31,800	$112,560	LEAPS-ONLY
SPY +640C	$750.77	640	0	0	0	$764.00	$692.70	0	1.00x	0.0%	N/A	12	$148,800	$900,930	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$246.46	215	260	230	252	$256.25	$238.67	30	1.80x	6.7%	OK	10	$37,500	$246,460	OK
APP +460C −540P +185P −600C	$518.00	460	540	185	600	$588.00	$601.34	355	3.77x	64.3%	SAFE	1	$12,800	$51,800	OK
CLSK +17C −17P +10P	$13.01	17	17	10	0	$20.74	$17.38	7	2.87x	23.1%	SAFE	25	$9,350	$32,525	OK
COIN (Main) +165C −240P +85P −215C	$160.03	165	240	85	215	$210.90	$217.71	155	10.23x	46.9%	SAFE	8	$13,440	$128,024	OK
COIN (RetireInc) +145C −200P +75P −215C	$160.03	145	200	75	215	$182.40	$188.32	125	7.31x	53.1%	SAFE	3	$5,940	$48,009	OK
COPX +65C −90P +68P	$75.88	65	90	68	0	$93.40	$94.71	22	1.77x	10.4%	SAFE	20	$56,800	$151,750	OK
CRWV +105C −120P +40P	$89.95	105	120	40	0	$125.45	$128.11	80	4.91x	55.5%	SAFE	5	$10,225	$44,975	OK
DELL +340C −390P +150P	$450.11	340	390	150	0	$398.00	$408.20	240	5.14x	66.7%	SAFE	3	$17,400	$135,033	OK
ENPH +45C −60P +20P −50C	$45.00	45	60	20	50	$56.15	$58.72	40	6.48x	55.6%	SAFE	10	$7,300	$45,000	OK
ETHA +13C −16P +10P	$13.33	13	16	10	0	$17.33	$18.15	6	2.39x	25.0%	SAFE	50	$21,650	$66,650	OK
GLD +320C −450P +330P −390C	$377.80	320	450	330	390	$456.00	$471.25	120	1.88x	12.7%	SAFE	10	$136,000	$377,800	OK
GLXY +38C −38P +18P	$25.32	38	38	18	0	$39.71	$31.81	20	10.05x	30.9%	SAFE	125	$27,625	$316,500	OK
GOOG (Neville) +300C −345P +310P −380C	$354.89	300	345	310	380	$373.00	$336.08	35	1.48x	12.6%	SAFE	15	$109,500	$532,335	OK
GOOG (Neville) +340C −405P +360P −380C	$354.89	340	405	360	380	$398.00	$373.06	45	1.88x	-1.4%	ITM	5	$25,500	$177,445	OK
HIMS +10C −20P +5P −48C	$35.39	10	20	5	48	$17.47	$19.53	15	4.04x	85.9%	SAFE	15	$7,395	$53,085	OK
IREN (Joint) +25C −47P +35P −55C	$42.02	25	47	35	55	$44.00	$48.37	12	1.75x	16.7%	SAFE	20	$32,000	$84,040	OK
IREN (Main) +25C −47P +35P −55C	$42.02	25	47	35	55	$44.00	$48.37	12	1.75x	16.7%	SAFE	20	$32,000	$84,040	OK
IREN (RetireInc) +50C −70P +23P −53C	$42.02	50	70	23	53	$63.43	$67.36	47	7.86x	45.3%	SAFE	20	$13,700	$84,040	OK
MDB +270C −340P +150P −410C	$363.14	270	340	150	410	$362.90	$380.86	190	3.05x	58.7%	SAFE	1	$9,290	$36,314	OK
META +480C −650P +330P −630C	$641.90	480	650	330	630	$601.50	$614.59	320	5.38x	48.6%	SAFE	3	$21,900	$192,570	OK
MSTR +125C −185P +55P	$95.34	125	185	55	0	$161.00	$171.13	130	11.83x	42.3%	SAFE	4	$4,800	$38,136	OK
MU (Main) +880C −1010P +320P −1100C	$989.95	880	1010	320	1100	$1028.60	$1053.20	690	5.64x	67.7%	SAFE	5	$74,300	$494,975	OK
MU (Neville) +970C −1110P +370P −1100C	$989.95	970	1110	370	1100	$1220.00	$1243.91	740	3.96x	62.6%	SAFE	2	$50,000	$197,990	OK
NEM +88C −105P +75P	$94.88	88	105	75	0	$114.54	$118.13	30	2.11x	20.9%	SAFE	5	$13,520	$47,438	OK
NOW +80C −110P +90P	$108.90	80	110	90	0	$108.93	$113.14	20	1.72x	17.4%	SAFE	10	$27,850	$108,900	OK
NVDA +140C −175P +70P −212C	$202.31	140	175	70	212	$199.60	$202.05	105	2.76x	65.4%	SAFE	5	$29,800	$101,155	OK
QCOM +190C −210P +90P −208C	$190.46	190	210	90	208	$224.00	$228.23	120	4.53x	52.7%	SAFE	5	$17,000	$95,230	OK
RIOT +17C −40P +17P	$21.62	17	40	17	0	$23.65	$31.91	23	5.98x	21.4%	SAFE	50	$23,075	$108,075	OK
RKLB +115C −135P +45P −101C	$83.80	115	135	45	101	$141.55	$148.06	90	4.39x	46.3%	SAFE	6	$15,930	$50,280	OK
SOFI +10C −13P +5P −20C	$18.61	10	13	5	20	$15.75	$16.15	8	2.39x	73.1%	SAFE	35	$20,125	$65,135	OK
SPCX +150C −195P +135P −175C	$151.82	150	195	135	175	$186.00	$182.49	60	3.22x	11.1%	SAFE	5	$13,500	$75,912	OK

BMNR: HP 10P Maintenance Roll-Out · exp Aug 21 '26, 42d

Stock: $14.93 Current HP: 10P (42d, 33.0% OTM) Current hedge: $9,560/yr Current ML: $71,250 CC income: $58,018/yr Cost cap: 25% of CC = $14,504/yr IV: HIGH 2 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Jan 15 '27, 189d, 33.0% OTM) | Cost: $13,325/yr (23% of CC) | New ML: $71,250 = ML | Roll DEBIT $6,150 | Margin: n/a (RTH)

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	189d	33.0%	$1.13	$1.38	$13,325	23%	$71,250	=	D $6,150
2	10	Nov 20	133d	33.0%	$0.76	$0.99	$13,585	23%	$71,250	=	D $4,200

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.05	$2,571/yr	$13,325/yr	DEFICIT $896/mo
CC at MID $18 0.6σ, B $0.58	$29,829/yr	$13,325/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($18, bid $0.58). 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, 42d

Stock: $42.02 Current HP: 21P (42d, 50.0% OTM) Current hedge: $10,950/yr Current ML: $94,000 CC income: $122,764/yr Cost cap: 25% of CC = $30,691/yr IV: HIGH 18 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Oct 16 '26, 98d, 50.0% OTM) | Cost: $11,695/yr (10% of CC) | New ML: $94,000 = ML | Roll DEBIT $2,540 | Margin: n/a (RTH)

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 29P (Oct 16 '26, 98d, 31.0% OTM) | Cost: $27,934/yr (23% of CC) | New ML: $78,000 ↓ $16,000 | Roll DEBIT $6,900 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Oct 16	98d	50.0%	$0.93	$1.57	$11,695	10%	$94,000	=	D $2,540
2	21	Sep 18	70d	50.0%	$0.54	$1.13	$11,784	10%	$94,000	=	D $1,660
3	22	Oct 16	98d	47.6%	$1.04	$1.60	$11,918	10%	$92,000	-$2,000	D $2,600
4	22	Sep 18	70d	47.6%	$0.86	$1.20	$12,514	10%	$92,000	-$2,000	D $1,800
5	23	Sep 18	70d	45.3%	$1.07	$1.33	$13,870	11%	$90,000	-$4,000	D $2,060
6	23	Oct 16	98d	45.3%	$1.28	$1.96	$14,600	12%	$90,000	-$4,000	D $3,320
7	24	Oct 16	98d	42.9%	$1.50	$2.17	$16,164	13%	$88,000	-$6,000	D $3,740
8	24	Sep 18	70d	42.9%	$1.21	$1.66	$17,311	14%	$88,000	-$6,000	D $2,720
9	25	Oct 16	98d	40.5%	$2.05	$2.56	$19,069	16%	$86,000	-$8,000	D $4,520
10	25	Sep 18	70d	40.5%	$1.51	$1.86	$19,397	16%	$86,000	-$8,000	D $3,120
11	26	Sep 18	70d	38.1%	$1.58	$2.02	$21,066	17%	$84,000	-$10,000	D $3,440
12	26	Oct 16	98d	38.1%	$2.04	$2.87	$21,379	17%	$84,000	-$10,000	D $5,140
▶ 13	29 PROT	Oct 16	98d	31.0%	$3.10	$3.75	$27,934	23%	$78,000	-$16,000	D $6,900

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $60, B $1.40	$28,800/yr	$11,695/yr	SELF-FUNDING
CC at MID $54 0.7σ, B $1.07	$22,011/yr	$11,695/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($60, bid $1.40). 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, 42d

Stock: $111.80 Current HP: 35P (42d, 68.7% OTM) Current hedge: $304/yr Current ML: $47,000 CC income: $66,605/yr Cost cap: 25% of CC = $16,651/yr IV: HIGH 58 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 70d, 68.7% OTM) | Cost: $495/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $85 | Margin: n/a (RTH)

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 88P (Oct 16 '26, 98d, 21.7% OTM) | Cost: $15,364/yr (23% of CC) | New ML: $20,750 ↓ $26,250 | Roll DEBIT $4,115 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	70d	68.7%	$0.10	$0.19	$495	1%	$47,000	=	D $85
2	36	Sep 18	70d	67.8%	$0.05	$0.21	$548	1%	$46,500	-$500	D $95
3	40	Sep 18	70d	64.2%	$0.15	$0.22	$574	1%	$44,500	-$2,500	D $100
4	37	Sep 18	70d	66.9%	$0.07	$0.23	$600	1%	$46,000	-$1,000	D $105
5	35	Oct 16	98d	68.7%	$0.09	$0.36	$670	1%	$47,000	=	D $170
6	39	Sep 18	70d	65.1%	$0.17	$0.26	$678	1%	$45,000	-$2,000	D $120
7	39	Oct 16	98d	65.1%	$0.24	$0.45	$838	1%	$45,000	-$2,000	D $215
8	38	Sep 18	70d	66.0%	$0.02	$0.34	$886	1%	$45,500	-$1,500	D $160
9	42	Sep 18	70d	62.4%	$0.20	$0.34	$886	1%	$43,500	-$3,500	D $160
10	40	Oct 16	98d	64.2%	$0.27	$0.48	$894	1%	$44,500	-$2,500	D $230
11	43	Sep 18	70d	61.5%	$0.19	$0.36	$939	1%	$43,000	-$4,000	D $170
12	41	Sep 18	70d	63.3%	$0.04	$0.38	$991	1%	$44,000	-$3,000	D $180
▶ 13	88 PROT	Oct 16	98d	21.7%	$7.90	$8.25	$15,364	23%	$20,750	-$26,250	D $4,115

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $116, B $11.35	$58,371/yr	$495/yr	SELF-FUNDING
CC at MID $129 0.4σ, B $7.20	$37,029/yr	$495/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($116, bid $11.35). 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).