Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$22,789/yr

TOTAL HEDGE (CHEAPEST)

$24,331/yr

Δ HEDGE (CHEAPEST vs CURRENT)

+$1,542/yr

ROLL DEBIT (CHEAPEST)

-$6,710

MAX LOSS REDUCTION (PROTECTIVE)

-$28,250

PORTFOLIO ACTION SUMMARY · 41 positions

3 · ROLL NOW4 · LEAPS-ONLY34 · 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	$14.57	10	18	10	0	$17.13	$19.69	8	2.28x	31.4%	SAFE	50	$31,250	$72,850	ROLL NOW (39d)
INTC → +85C −100P +35P	$104.98	85	100	35	0	$114.00	$116.72	65	3.24x	66.7%	SAFE	5	$14,500	$52,492	ROLL NOW (39d)
IREN (Neville) → +45C −65P +21P −50C	$41.26	45	65	21	50	$56.50	$59.45	44	15.67x	49.1%	SAFE	20	$6,000	$82,520	ROLL NOW (39d)
GOOG (Joint) +310C	$353.40	310	0	0	0	$392.50	$338.55	0	1.00x	0.0%	N/A	5	$41,250	$176,700	LEAPS-ONLY
GOOG (Main) +310C	$353.40	310	0	0	0	$392.50	$338.55	0	1.00x	0.0%	N/A	10	$82,500	$353,400	LEAPS-ONLY
IGV +70C −100C	$92.14	70	0	0	100	$96.50	$86.31	0	1.00x	0.0%	N/A	12	$31,800	$110,568	LEAPS-ONLY
SPY +640C −760C	$753.12	640	0	0	760	$764.00	$694.03	0	1.00x	0.0%	N/A	12	$148,800	$903,744	LEAPS-ONLY
AMZN +215C −260P +230P	$246.97	215	260	230	0	$256.25	$239.12	30	1.80x	6.9%	OK	10	$37,500	$246,970	OK
APP +460C −540P +185P	$461.47	460	540	185	0	$588.00	$602.47	355	3.77x	59.9%	SAFE	1	$12,800	$46,147	OK
CLSK +17C −17P +10P	$12.52	17	17	10	0	$20.74	$17.15	7	2.87x	20.1%	SAFE	25	$9,350	$31,288	OK
COIN (Main) +165C −240P +85P	$158.49	165	240	85	0	$210.90	$217.52	155	10.23x	46.4%	SAFE	8	$13,440	$126,788	OK
COIN (RetireInc) +145C −200P +75P	$158.49	145	200	75	0	$182.40	$188.72	125	7.31x	52.7%	SAFE	3	$5,940	$47,546	OK
COPX +65C −90P +68P −82C	$75.81	65	90	68	82	$93.40	$94.74	22	1.77x	10.3%	SAFE	20	$56,800	$151,610	OK
CRWV +105C −120P +40P −100C	$86.06	105	120	40	100	$125.45	$130.01	80	4.91x	53.5%	SAFE	5	$10,225	$43,030	OK
DELL +340C −390P +150P −480C	$430.79	340	390	150	480	$398.00	$410.44	240	5.14x	65.2%	SAFE	3	$17,400	$129,237	OK
ENPH +45C −60P +20P −50C	$42.77	45	60	20	50	$56.15	$58.21	40	6.48x	53.2%	SAFE	10	$7,300	$42,770	OK
ETHA +13C −16P +10P	$13.37	13	16	10	0	$17.33	$18.05	6	2.39x	25.2%	SAFE	50	$21,650	$66,850	OK
GLD +320C −450P +330P −390C	$370.26	320	450	330	390	$456.00	$472.25	120	1.88x	10.9%	SAFE	10	$136,000	$370,260	OK
GLXY +38C −38P +18P −30C	$24.30	38	38	18	30	$39.71	$33.17	20	10.05x	28.0%	SAFE	125	$27,625	$303,750	OK
GOOG (Neville) +300C −345P +310P	$353.40	300	345	310	0	$373.00	$336.48	35	1.48x	12.3%	SAFE	15	$109,500	$530,100	OK
GOOG (Neville) +340C −405P +360P	$353.40	340	405	360	0	$398.00	$373.94	45	1.88x	-1.9%	ITM	5	$25,500	$176,700	OK
HIMS +10C −20P +5P −48C	$34.51	10	20	5	48	$17.47	$19.89	15	4.04x	85.5%	SAFE	15	$7,395	$51,765	OK
IREN (Joint) +25C −47P +35P −50C	$41.26	25	47	35	50	$44.00	$48.81	12	1.75x	15.2%	SAFE	20	$32,000	$82,520	OK
IREN (Main) +25C −47P +35P −50C	$41.26	25	47	35	50	$44.00	$48.81	12	1.75x	15.2%	SAFE	20	$32,000	$82,520	OK
IREN (RetireInc) +50C −70P +23P −50C	$41.26	50	70	23	50	$63.43	$67.41	47	7.86x	44.3%	SAFE	20	$13,700	$82,520	OK
MARA (Joint) +20C −17P +10P	$12.27	20	17	10	0	$24.33	$19.09	7	2.62x	18.5%	SAFE	50	$21,650	$61,325	OK
MARA (Main) +20C −25P +15P	$12.27	20	25	15	0	$22.69	$18.65	10	27.32x	-22.3%	ITM	200	$7,600	$245,300	OK
MARA (Neville) +25C −15P +13P	$12.27	25	15	13	0	$26.40	$13.55	2	2.43x	-6.0%	ITM	250	$35,000	$306,625	OK
MDB +270C −340P +150P −410C	$338.02	270	340	150	410	$362.90	$377.57	190	3.05x	55.6%	SAFE	1	$9,290	$33,802	OK
META +480C −650P +330P −630C	$661.14	480	650	330	630	$601.50	$601.84	320	5.38x	50.1%	SAFE	3	$21,900	$198,344	OK
MSTR +125C −185P +55P	$91.05	125	185	55	0	$161.00	$167.68	130	11.83x	39.6%	SAFE	4	$4,800	$36,420	OK
MU (Main) +880C −1010P +320P −1155C	$928.33	880	1010	320	1155	$1028.60	$1055.85	690	5.64x	65.5%	SAFE	5	$74,300	$464,165	OK
MU (Neville) +970C −1110P +370P −1155C	$928.33	970	1110	370	1155	$1220.00	$1246.02	740	3.96x	60.1%	SAFE	2	$50,000	$185,666	OK
NEM +88C −105P +75P −100C	$93.90	88	105	75	100	$114.54	$118.64	30	2.11x	20.1%	SAFE	5	$13,520	$46,950	OK
NOW +80C −110P +90P	$108.61	80	110	90	0	$108.93	$112.61	20	1.72x	17.1%	SAFE	10	$27,850	$108,605	OK
NVDA +140C −175P +70P −225C	$208.96	140	175	70	225	$199.60	$202.81	105	2.76x	66.5%	SAFE	5	$29,800	$104,480	OK
QCOM +190C −210P +90P	$186.88	190	210	90	0	$224.00	$229.42	120	4.53x	51.8%	SAFE	5	$17,000	$93,440	OK
RIOT +17C −40P +17P −24C	$20.30	17	40	17	24	$23.65	$30.90	23	7.98x	16.2%	SAFE	50	$16,480	$101,480	OK
RKLB +115C −135P +45P	$78.32	115	135	45	0	$141.55	$147.44	90	4.39x	42.5%	SAFE	6	$15,930	$46,992	OK
SOFI +10C −13P +5P −23C	$18.49	10	13	5	23	$15.75	$16.16	8	2.39x	73.0%	SAFE	35	$20,125	$64,715	OK
SPCX +150C −195P +135P −175C	$138.54	150	195	135	175	$186.00	$183.06	60	3.22x	2.6%	TIGHT	5	$13,500	$69,272	OK

BMNR: HP 10P Maintenance Roll-Out · exp Aug 21 '26, 39d

Stock: $14.57 Current HP: 10P (39d, 31.4% OTM) Current hedge: $9,827/yr Current ML: $71,250 CC income: $47,599/yr Cost cap: 25% of CC = $11,900/yr IV: HIGH 1 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Jan 15 '27, 186d, 31.4% OTM) | Cost: $11,774/yr (25% of CC) | New ML: $71,250 = ML | Roll DEBIT $5,150 | Margin (TIMS): $797

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	186d	31.4%	$1.10	$1.20	$11,774	25%	$71,250	=	D $5,150

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.17	$9,563/yr	$11,774/yr	DEFICIT $184/mo
CC at MID $17 0.6σ, B $0.48	$27,000/yr	$11,774/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($17, bid $0.48). 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, 39d

Stock: $41.26 Current HP: 21P (39d, 49.1% OTM) Current hedge: $12,541/yr Current ML: $94,000 CC income: $99,878/yr Cost cap: 25% of CC = $24,970/yr IV: HIGH 13 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Sep 18 '26, 67d, 49.1% OTM) | Cost: $11,985/yr (12% of CC) | New ML: $94,000 = ML | Roll DEBIT $1,460 | Margin (TIMS): $1,852

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 27P (Oct 16 '26, 95d, 34.6% OTM) | Cost: $23,821/yr (24% of CC) | New ML: $82,000 ↓ $12,000 | Roll DEBIT $5,460 | Margin (TIMS): $1,715

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Sep 18	67d	49.1%	$0.78	$1.10	$11,985	12%	$94,000	=	D $1,460
2	21	Oct 16	95d	49.1%	$1.21	$1.72	$13,217	13%	$94,000	=	D $2,700
3	22	Oct 16	95d	46.7%	$1.42	$1.95	$14,984	15%	$92,000	-$2,000	D $3,160
4	22	Sep 18	67d	46.7%	$0.94	$1.43	$15,581	16%	$92,000	-$2,000	D $2,120
5	23	Oct 16	95d	44.3%	$1.65	$2.19	$16,828	17%	$90,000	-$4,000	D $3,640
6	23	Sep 18	67d	44.3%	$1.12	$1.62	$17,651	18%	$90,000	-$4,000	D $2,500
7	24	Oct 16	95d	41.8%	$1.85	$2.46	$18,903	19%	$88,000	-$6,000	D $4,180
8	24	Sep 18	67d	41.8%	$1.26	$1.83	$19,939	20%	$88,000	-$6,000	D $2,920
9	25	Oct 16	95d	39.4%	$2.15	$2.64	$20,286	20%	$86,000	-$8,000	D $4,540
10	26	Oct 16	95d	37.0%	$2.27	$2.83	$21,746	22%	$84,000	-$10,000	D $4,920
11	25	Sep 18	67d	39.4%	$1.43	$2.06	$22,445	22%	$86,000	-$8,000	D $3,380
▶ 12	27 PROT	Oct 16	95d	34.6%	$2.65	$3.10	$23,821	24%	$82,000	-$12,000	D $5,460

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $60, B $1.13	$25,425/yr	$11,985/yr	SELF-FUNDING
CC at MID $52 0.6σ, B $1.87	$42,075/yr	$11,985/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($60, bid $1.13). 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, 39d

Stock: $104.98 Current HP: 35P (39d, 66.7% OTM) Current hedge: $421/yr Current ML: $47,000 CC income: $28,187/yr Cost cap: 25% of CC = $7,047/yr IV: HIGH 43 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 67d, 66.7% OTM) | Cost: $572/yr (2% of CC) | New ML: $47,000 = ML | Roll DEBIT $100 | Margin (TIMS): $2,807

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 68P (Sep 18 '26, 67d, 35.7% OTM) | Cost: $6,074/yr (22% of CC) | New ML: $30,750 ↓ $16,250 | Roll DEBIT $1,110 | Margin (TIMS): $2,584

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	67d	66.7%	$0.10	$0.21	$572	2%	$47,000	=	D $100
2	36	Sep 18	67d	65.7%	$0.04	$0.23	$626	2%	$46,500	-$500	D $110
3	40	Sep 18	67d	61.9%	$0.15	$0.24	$654	2%	$44,500	-$2,500	D $115
4	37	Sep 18	67d	64.8%	$0.05	$0.25	$681	2%	$46,000	-$1,000	D $120
5	35	Oct 16	95d	66.7%	$0.12	$0.36	$692	2%	$47,000	=	D $175
6	38	Sep 18	67d	63.8%	$0.07	$0.27	$735	3%	$45,500	-$1,500	D $130
7	39	Sep 18	67d	62.9%	$0.08	$0.29	$790	3%	$45,000	-$2,000	D $140
8	39	Oct 16	95d	62.9%	$0.22	$0.48	$922	3%	$45,000	-$2,000	D $235
9	41	Sep 18	67d	60.9%	$0.11	$0.34	$926	3%	$44,000	-$3,000	D $165
10	42	Sep 18	67d	60.0%	$0.14	$0.36	$981	3%	$43,500	-$3,500	D $175
11	40	Oct 16	95d	61.9%	$0.25	$0.52	$999	4%	$44,500	-$2,500	D $255
12	43	Sep 18	67d	59.0%	$0.17	$0.39	$1,062	4%	$43,000	-$4,000	D $190
▶ 13	68 PROT	Sep 18	67d	35.7%	$1.99	$2.23	$6,074	22%	$30,750	-$16,250	D $1,110

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $117, B $6.70	$37,688/yr	$572/yr	SELF-FUNDING
CC at MID $122 0.4σ, B $5.50	$30,938/yr	$572/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($117, bid $6.70). 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).