Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$18,511/yr

TOTAL HEDGE (CHEAPEST)

$22,493/yr

Δ HEDGE (CHEAPEST vs CURRENT)

+$3,982/yr

ROLL DEBIT (CHEAPEST)

-$4,830

MAX LOSS REDUCTION (PROTECTIVE)

-$40,500

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	$15.33	10	18	10	0	$17.13	$19.61	8	2.28x	34.8%	SAFE	50	$31,250	$76,650	ROLL NOW (42d)
INTC → +85C −100P +35P −130C	$109.23	85	100	35	130	$114.00	$117.41	65	3.24x	68.0%	SAFE	5	$14,500	$54,618	ROLL NOW (42d)
IREN (Neville) → +45C −65P +21P −53C	$40.89	45	65	21	53	$56.50	$58.46	44	15.67x	48.6%	SAFE	20	$6,000	$81,780	ROLL NOW (42d)
GOOG (Joint) +310C	$352.73	310	0	0	0	$392.50	$338.55	0	1.00x	0.0%	N/A	5	$41,250	$176,365	LEAPS-ONLY
GOOG (Main) +310C	$352.73	310	0	0	0	$392.50	$338.55	0	1.00x	0.0%	N/A	10	$82,500	$352,730	LEAPS-ONLY
IGV +70C −100C	$93.75	70	0	0	100	$96.50	$86.04	0	1.00x	0.0%	N/A	12	$31,800	$112,500	LEAPS-ONLY
SPY +640C	$752.84	640	0	0	0	$764.00	$694.30	0	1.00x	0.0%	N/A	12	$148,800	$903,408	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$246.45	215	260	230	252	$256.25	$240.24	30	1.80x	6.7%	OK	10	$37,500	$246,450	OK
APP +460C −540P +185P −600C	$519.18	460	540	185	600	$588.00	$603.95	355	3.77x	64.4%	SAFE	1	$12,800	$51,918	OK
CLSK +17C −17P +10P	$12.69	17	17	10	0	$20.74	$16.93	7	2.87x	21.2%	SAFE	25	$9,350	$31,712	OK
COIN (Main) +165C −240P +85P	$161.76	165	240	85	0	$210.90	$214.67	155	10.23x	47.5%	SAFE	8	$13,440	$129,408	OK
COIN (RetireInc) +145C −200P +75P	$161.76	145	200	75	0	$182.40	$186.21	125	7.31x	53.6%	SAFE	3	$5,940	$48,528	OK
COPX +65C −90P +68P	$76.09	65	90	68	0	$93.40	$94.11	22	1.77x	10.6%	SAFE	20	$56,800	$152,180	OK
CRWV +105C −120P +40P	$90.37	105	120	40	0	$125.45	$128.90	80	4.91x	55.7%	SAFE	5	$10,225	$45,185	OK
DELL +340C −390P +150P −480C	$449.80	340	390	150	480	$398.00	$409.32	240	5.14x	66.7%	SAFE	3	$17,400	$134,940	OK
ENPH +45C −60P +20P −50C	$45.19	45	60	20	50	$56.15	$58.44	40	6.48x	55.7%	SAFE	10	$7,300	$45,190	OK
ETHA +13C −16P +10P	$13.53	13	16	10	0	$17.33	$17.99	6	2.39x	26.1%	SAFE	50	$21,650	$67,625	OK
GLD +320C −450P +330P −390C	$376.11	320	450	330	390	$456.00	$471.29	120	1.88x	12.3%	SAFE	10	$136,000	$376,106	OK
GLXY +38C −38P +18P	$25.78	38	38	18	0	$39.71	$33.95	20	10.05x	32.1%	SAFE	125	$27,625	$322,250	OK
GOOG (Neville) +300C −345P +310P	$352.73	300	345	310	0	$373.00	$336.97	35	1.48x	12.1%	SAFE	15	$109,500	$529,095	OK
GOOG (Neville) +340C −405P +360P	$352.73	340	405	360	0	$398.00	$373.74	45	1.88x	-2.1%	ITM	5	$25,500	$176,365	OK
HIMS +10C −20P +5P −48C	$33.95	10	20	5	48	$17.47	$18.04	15	4.04x	85.3%	SAFE	15	$7,395	$50,932	OK
IREN (Joint) +25C −47P +35P −55C	$40.89	25	47	35	55	$44.00	$48.74	12	1.75x	14.4%	SAFE	20	$32,000	$81,780	OK
IREN (Main) +25C −47P +35P −55C	$40.89	25	47	35	55	$44.00	$48.74	12	1.75x	14.4%	SAFE	20	$32,000	$81,780	OK
IREN (RetireInc) +50C −70P +23P −53C	$40.89	50	70	23	53	$63.43	$67.51	47	7.86x	43.8%	SAFE	20	$13,700	$81,780	OK
MDB +270C −340P +150P −410C	$351.81	270	340	150	410	$362.90	$378.42	190	3.05x	57.4%	SAFE	1	$9,290	$35,181	OK
META +480C −650P +330P −630C	$666.09	480	650	330	630	$601.50	$603.50	320	5.38x	50.5%	SAFE	3	$21,900	$199,827	OK
MSTR +125C −185P +55P	$97.01	125	185	55	0	$161.00	$167.48	130	11.83x	43.3%	SAFE	4	$4,800	$38,802	OK
MU (Main) +880C −1010P +320P	$975.76	880	1010	320	0	$1028.60	$1055.93	690	5.64x	67.2%	SAFE	5	$74,300	$487,880	OK
MU (Neville) +970C −1110P +370P	$975.76	970	1110	370	0	$1220.00	$1246.26	740	3.96x	62.1%	SAFE	2	$50,000	$195,152	OK
NEM +88C −105P +75P	$95.05	88	105	75	0	$114.54	$118.18	30	2.11x	21.1%	SAFE	5	$13,520	$47,525	OK
NOW +80C −110P +90P	$108.57	80	110	90	0	$108.93	$112.13	20	1.72x	17.1%	SAFE	10	$27,850	$108,570	OK
NVDA +140C −175P +70P −212C	$207.55	140	175	70	212	$199.60	$203.07	105	2.76x	66.3%	SAFE	5	$29,800	$103,775	OK
QCOM +190C −210P +90P −208C	$186.77	190	210	90	208	$224.00	$227.09	120	4.53x	51.8%	SAFE	5	$17,000	$93,385	OK
RIOT +17C −40P +17P	$20.91	17	40	17	0	$23.65	$31.08	23	6.89x	18.7%	SAFE	50	$19,525	$104,525	OK
RKLB +115C −135P +45P −101C	$80.29	115	135	45	101	$141.55	$148.02	90	4.39x	44.0%	SAFE	6	$15,930	$48,174	OK
SOFI +10C −13P +5P −23C	$19.05	10	13	5	23	$15.75	$16.13	8	2.39x	73.7%	SAFE	35	$20,125	$66,658	OK
SPCX +150C −195P +135P −175C	$148.16	150	195	135	175	$186.00	$182.63	60	3.22x	8.9%	OK	5	$13,500	$74,080	OK

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

Stock: $15.33 Current HP: 10P (42d, 34.8% OTM) Current hedge: $7,821/yr Current ML: $71,250 CC income: $50,304/yr Cost cap: 25% of CC = $12,576/yr IV: HIGH 2 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 133d, 34.8% OTM) | Cost: $10,291/yr (20% of CC) | New ML: $71,250 = ML | Roll DEBIT $3,200 | Margin (TIMS): $862

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	Nov 20	133d	34.8%	$0.73	$0.75	$10,291	20%	$71,250	=	D $3,200
2	10	Jan 15	189d	34.8%	$1.08	$1.12	$10,815	21%	$71,250	=	D $5,050

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.20	$10,286/yr	$10,291/yr	DEFICIT $0/mo
CC at MID $18 0.6σ, B $0.52	$26,743/yr	$10,291/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($18, bid $0.52). 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: $40.89 Current HP: 21P (42d, 48.6% OTM) Current hedge: $10,429/yr Current ML: $94,000 CC income: $133,714/yr Cost cap: 25% of CC = $33,429/yr IV: HIGH 19 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Sep 18 '26, 70d, 48.6% OTM) | Cost: $11,680/yr (9% of CC) | New ML: $94,000 = ML | Roll DEBIT $1,540 | Margin (TIMS): $1,839

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 30P (Oct 16 '26, 98d, 26.6% OTM) | Cost: $32,403/yr (24% of CC) | New ML: $76,000 ↓ $18,000 | Roll DEBIT $8,000 | Margin (TIMS): $1,609

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Sep 18	70d	48.6%	$0.67	$1.12	$11,680	9%	$94,000	=	D $1,540
2	21	Oct 16	98d	48.6%	$1.11	$1.60	$11,918	9%	$94,000	=	D $2,500
3	22	Oct 16	98d	46.2%	$1.31	$1.77	$13,185	10%	$92,000	-$2,000	D $2,840
4	22	Sep 18	70d	46.2%	$0.84	$1.28	$13,349	10%	$92,000	-$2,000	D $1,860
5	23	Oct 16	98d	43.8%	$1.52	$2.00	$14,898	11%	$90,000	-$4,000	D $3,300
6	23	Sep 18	70d	43.8%	$0.99	$1.47	$15,330	11%	$90,000	-$4,000	D $2,240
7	24	Oct 16	98d	41.3%	$1.76	$2.28	$16,984	13%	$88,000	-$6,000	D $3,860
8	24	Sep 18	70d	41.3%	$1.20	$1.66	$17,311	13%	$88,000	-$6,000	D $2,620
9	25	Oct 16	98d	38.9%	$2.04	$2.50	$18,622	14%	$86,000	-$8,000	D $4,300
10	25	Sep 18	70d	38.9%	$1.41	$1.88	$19,606	15%	$86,000	-$8,000	D $3,060
11	26	Oct 16	98d	36.4%	$2.34	$2.91	$21,677	16%	$84,000	-$10,000	D $5,120
12	26	Sep 18	70d	36.4%	$1.63	$2.11	$22,004	16%	$84,000	-$10,000	D $3,520
▶ 13	30 PROT	Oct 16	98d	26.6%	$3.60	$4.35	$32,403	24%	$76,000	-$18,000	D $8,000

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $60, B $0.96	$19,749/yr	$11,680/yr	SELF-FUNDING
CC at MID $52 0.6σ, B $1.70	$34,971/yr	$11,680/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($60, bid $0.96). 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: $109.23 Current HP: 35P (42d, 68.0% OTM) Current hedge: $261/yr Current ML: $47,000 CC income: $48,107/yr Cost cap: 25% of CC = $12,027/yr IV: HIGH 53 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 70d, 68.0% OTM) | Cost: $521/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $90 | Margin (TIMS): $3,140

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 80P (Oct 16 '26, 98d, 26.8% OTM) | Cost: $11,453/yr (24% of CC) | New ML: $24,500 ↓ $22,500 | Roll DEBIT $3,065 | Margin (TIMS): $2,609

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	70d	68.0%	$0.10	$0.20	$521	1%	$47,000	=	D $90
2	36	Sep 18	70d	67.0%	$0.06	$0.22	$574	1%	$46,500	-$500	D $100
3	37	Sep 18	70d	66.1%	$0.08	$0.24	$626	1%	$46,000	-$1,000	D $110
4	40	Sep 18	70d	63.4%	$0.16	$0.24	$626	1%	$44,500	-$2,500	D $110
5	35	Oct 16	98d	68.0%	$0.15	$0.34	$633	1%	$47,000	=	D $160
6	38	Sep 18	70d	65.2%	$0.10	$0.26	$678	1%	$45,500	-$1,500	D $120
7	39	Sep 18	70d	64.3%	$0.11	$0.28	$730	2%	$45,000	-$2,000	D $130
8	39	Oct 16	98d	64.3%	$0.26	$0.47	$875	2%	$45,000	-$2,000	D $225
9	42	Sep 18	70d	61.6%	$0.18	$0.35	$912	2%	$43,500	-$3,500	D $165
10	40	Oct 16	98d	63.4%	$0.32	$0.50	$931	2%	$44,500	-$2,500	D $240
11	43	Sep 18	70d	60.6%	$0.21	$0.38	$991	2%	$43,000	-$4,000	D $180
12	44	Sep 18	70d	59.7%	$0.23	$0.40	$1,043	2%	$42,500	-$4,500	D $190
▶ 13	80 PROT	Oct 16	98d	26.8%	$5.80	$6.15	$11,453	24%	$24,500	-$22,500	D $3,065

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $118, B $8.85	$45,514/yr	$521/yr	SELF-FUNDING
CC at MID $127 0.4σ, B $6.25	$32,143/yr	$521/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($118, bid $8.85). 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).