Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$20,124/yr

TOTAL HEDGE (CHEAPEST)

$24,964/yr

Δ HEDGE (CHEAPEST vs CURRENT)

+$4,840/yr

ROLL DEBIT (CHEAPEST)

-$5,655

MAX LOSS REDUCTION (PROTECTIVE)

-$43,250

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	$16.18	10	18	10	0	$17.13	$19.55	8	2.28x	38.2%	SAFE	50	$31,250	$80,925	ROLL NOW (37d)
INTC → +85C −100P +35P −121C	$108.34	85	100	35	121	$114.00	$117.16	65	3.24x	67.7%	SAFE	5	$14,500	$54,170	ROLL NOW (37d)
IREN (Neville) → +45C −65P +21P	$38.41	45	65	21	0	$56.50	$59.23	44	15.67x	45.3%	SAFE	20	$6,000	$76,820	ROLL NOW (37d)
GOOG (Joint) +310C −370C	$357.55	310	0	0	370	$392.50	$339.78	0	1.00x	0.0%	N/A	5	$41,250	$178,775	LEAPS-ONLY
GOOG (Main) +310C −360C	$357.55	310	0	0	360	$392.50	$339.78	0	1.00x	0.0%	N/A	10	$82,500	$357,550	LEAPS-ONLY
IGV +70C −100C	$93.39	70	0	0	100	$96.50	$86.68	0	1.00x	0.0%	N/A	12	$31,800	$112,068	LEAPS-ONLY
SPY +640C	$752.04	640	0	0	0	$764.00	$693.47	0	1.00x	0.0%	N/A	12	$148,800	$902,448	LEAPS-ONLY
AMZN +215C −260P +230P −258C	$247.80	215	260	230	258	$256.25	$239.75	30	1.80x	7.2%	OK	10	$37,500	$247,800	OK
APP +460C −540P +185P −490C	$448.24	460	540	185	490	$588.00	$602.77	355	3.77x	58.7%	SAFE	1	$12,800	$44,824	OK
CLSK +17C −17P +10P	$13.39	17	17	10	0	$20.74	$17.04	7	2.87x	25.3%	SAFE	25	$9,350	$33,475	OK
COIN (Main) +165C −240P +85P −175C	$159.51	165	240	85	175	$210.90	$214.80	155	10.23x	46.7%	SAFE	8	$13,440	$127,608	OK
COIN (RetireInc) +145C −200P +75P −175C	$159.51	145	200	75	175	$182.40	$185.18	125	7.31x	53.0%	SAFE	3	$5,940	$47,853	OK
COPX +65C −90P +68P −82C	$78.50	65	90	68	82	$93.40	$94.38	22	1.77x	13.4%	SAFE	20	$56,800	$157,000	OK
CRWV +105C −120P +40P	$79.81	105	120	40	0	$125.45	$128.99	80	4.91x	49.9%	SAFE	5	$10,225	$39,905	OK
DELL +340C −390P +150P −465C	$452.28	340	390	150	465	$398.00	$409.60	240	5.14x	66.8%	SAFE	3	$17,400	$135,684	OK
ENPH +45C −60P +20P	$44.79	45	60	20	0	$56.15	$58.61	40	6.48x	55.3%	SAFE	10	$7,300	$44,790	OK
ETHA +13C −16P +10P	$14.16	13	16	10	0	$17.33	$17.94	6	2.39x	29.4%	SAFE	50	$21,650	$70,825	OK
GLD +320C −450P +330P −379C	$371.63	320	450	330	379	$456.00	$472.25	120	1.88x	11.2%	SAFE	10	$136,000	$371,630	OK
GLXY +38C −38P +18P	$24.05	38	38	18	0	$39.71	$33.86	20	10.05x	27.2%	SAFE	125	$27,625	$300,562	OK
GOOG (Neville) +300C −345P +310P −360C	$357.55	300	345	310	360	$373.00	$338.87	35	1.48x	13.3%	SAFE	15	$109,500	$536,325	OK
GOOG (Neville) +340C −405P +360P −360C	$357.55	340	405	360	360	$398.00	$376.10	45	1.88x	-0.7%	ITM	5	$25,500	$178,775	OK
HIMS +10C −20P +5P −40C	$34.52	10	20	5	40	$17.47	$18.74	15	4.04x	85.5%	SAFE	15	$7,395	$51,780	OK
IREN (Joint) +25C −47P +35P	$38.41	25	47	35	0	$44.00	$48.74	12	1.75x	8.9%	OK	20	$32,000	$76,820	OK
IREN (Main) +25C −47P +35P	$38.41	25	47	35	0	$44.00	$48.74	12	1.75x	8.9%	OK	20	$32,000	$76,820	OK
IREN (RetireInc) +50C −70P +23P	$38.41	50	70	23	0	$63.43	$67.85	47	7.86x	40.1%	SAFE	20	$13,700	$76,820	OK
MARA (Joint) +20C −17P +10P	$12.05	20	17	10	0	$24.33	$18.96	7	2.62x	17.0%	SAFE	50	$21,650	$60,275	OK
MARA (Main) +20C −25P +15P	$12.05	20	25	15	0	$22.69	$18.09	10	27.32x	-24.4%	ITM	200	$7,600	$241,100	OK
MARA (Neville) +25C −15P +13P	$12.05	25	15	13	0	$26.40	$14.62	2	2.43x	-7.8%	ITM	250	$35,000	$301,375	OK
MDB +270C −340P +150P	$340.70	270	340	150	0	$362.90	$372.68	190	3.05x	56.0%	SAFE	1	$9,290	$34,070	OK
META +480C −650P +330P −630C	$658.94	480	650	330	630	$601.50	$602.99	320	5.38x	49.9%	SAFE	3	$21,900	$197,682	OK
MSTR +125C −185P +55P −122C	$96.51	125	185	55	122	$161.00	$168.18	130	11.83x	43.0%	SAFE	4	$4,800	$38,604	OK
MU (Main) +880C −1010P +320P −1075C	$981.54	880	1010	320	1075	$1028.60	$1055.47	690	5.64x	67.4%	SAFE	5	$74,300	$490,770	OK
MU (Neville) +970C −1110P +370P −1060C	$981.54	970	1110	370	1060	$1220.00	$1247.06	740	3.96x	62.3%	SAFE	2	$50,000	$196,308	OK
NEM +88C −105P +75P −100C	$94.33	88	105	75	100	$114.54	$116.70	30	2.11x	20.5%	SAFE	5	$13,520	$47,165	OK
NOW +80C −110P +90P −115C	$104.58	80	110	90	115	$108.93	$112.34	20	1.72x	13.9%	SAFE	10	$27,850	$104,585	OK
NVDA +140C −175P +70P −225C	$211.59	140	175	70	225	$199.60	$202.82	105	2.76x	66.9%	SAFE	5	$29,800	$105,792	OK
QCOM +190C −210P +90P −190C	$178.80	190	210	90	190	$224.00	$227.23	120	4.53x	49.7%	SAFE	5	$17,000	$89,400	OK
RIOT +17C −40P +17P	$20.03	17	40	17	0	$23.65	$30.60	23	8.59x	15.1%	SAFE	50	$15,150	$100,150	OK
RKLB +115C −135P +45P	$79.15	115	135	45	0	$141.55	$147.58	90	4.39x	43.1%	SAFE	6	$15,930	$47,490	OK
SOFI +10C −13P +5P −23C	$18.45	10	13	5	23	$15.75	$16.14	8	2.39x	72.9%	SAFE	35	$20,125	$64,575	OK
SPCX +150C −195P +135P −155C	$136.94	150	195	135	155	$186.00	$182.72	60	3.22x	1.4%	TIGHT	5	$13,500	$68,472	OK

BMNR: HP 10P Maintenance Roll-Out · exp Aug 21 '26, 37d

Stock: $16.18 Current HP: 10P (37d, 38.2% OTM) Current hedge: $5,919/yr Current ML: $71,250 CC income: $83,119/yr Cost cap: 25% of CC = $20,780/yr IV: HIGH 5 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 128d, 38.2% OTM) | Cost: $9,410/yr (11% of CC) | New ML: $71,250 = ML | Roll DEBIT $2,900 | Margin (TIMS): $920

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 12P (Jan 15 '27, 184d, 25.9% OTM) | Cost: $16,762/yr (20% of CC) | New ML: $61,250 ↓ $10,000 | Roll DEBIT $8,050 | Margin (TIMS): $820

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	128d	38.2%	$0.60	$0.66	$9,410	11%	$71,250	=	D $2,900
2	10	Jan 15	184d	38.2%	$0.97	$1.01	$10,018	12%	$71,250	=	D $4,650
3	11	Nov 20	128d	32.0%	$0.73	$0.97	$13,830	17%	$66,250	-$5,000	D $4,450
▶ 4	12 PROT	Jan 15	184d	25.9%	$1.62	$1.69	$16,762	20%	$61,250	-$10,000	D $8,050
5	12	Nov 20	128d	25.9%	$1.08	$1.29	$18,393	22%	$61,250	-$10,000	D $6,050

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.34	$20,400/yr	$9,410/yr	SELF-FUNDING
CC at MID $19 0.6σ, B $0.59	$35,400/yr	$9,410/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($20, bid $0.34). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

IREN (Neville): HP 21P Maintenance Roll-Out · exp Aug 21 '26, 37d

Stock: $38.41 Current HP: 21P (37d, 45.3% OTM) Current hedge: $13,811/yr Current ML: $94,000 CC income: $117,969/yr Cost cap: 25% of CC = $29,492/yr IV: HIGH 13 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Oct 16 '26, 93d, 45.3% OTM) | Cost: $14,992/yr (13% of CC) | New ML: $94,000 = ML | Roll DEBIT $2,660 | Margin (TIMS): $1,749

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 27P (Oct 16 '26, 93d, 29.7% OTM) | Cost: $27,866/yr (24% of CC) | New ML: $82,000 ↓ $12,000 | Roll DEBIT $5,940 | Margin (TIMS): $1,599

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Oct 16	93d	45.3%	$1.18	$1.91	$14,992	13%	$94,000	=	D $2,660
2	21	Sep 18	65d	45.3%	$0.92	$1.34	$15,049	13%	$94,000	=	D $1,520
3	22	Oct 16	93d	42.7%	$1.43	$2.00	$15,699	13%	$92,000	-$2,000	D $2,840
4	22	Sep 18	65d	42.7%	$1.33	$1.49	$16,734	14%	$92,000	-$2,000	D $1,820
5	23	Sep 18	65d	40.1%	$1.17	$1.69	$18,980	16%	$90,000	-$4,000	D $2,220
6	23	Oct 16	93d	40.1%	$1.65	$2.54	$19,938	17%	$90,000	-$4,000	D $3,920
7	24	Oct 16	93d	37.5%	$1.93	$2.86	$22,449	19%	$88,000	-$6,000	D $4,560
8	25	Oct 16	93d	34.9%	$2.67	$2.91	$22,842	19%	$86,000	-$8,000	D $4,660
9	24	Sep 18	65d	37.5%	$1.40	$2.14	$24,034	20%	$88,000	-$6,000	D $3,120
10	26	Oct 16	93d	32.3%	$2.80	$3.20	$25,118	21%	$84,000	-$10,000	D $5,240
11	25	Sep 18	65d	34.9%	$2.03	$2.36	$26,505	22%	$86,000	-$8,000	D $3,560
▶ 12	27 PROT	Oct 16	93d	29.7%	$3.30	$3.55	$27,866	24%	$82,000	-$12,000	D $5,940

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $60, B $0.70	$16,800/yr	$14,992/yr	SELF-FUNDING
CC at MID $49 0.7σ, B $1.90	$45,600/yr	$14,992/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($60, bid $0.70). 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, 37d

Stock: $108.34 Current HP: 35P (37d, 67.7% OTM) Current hedge: $395/yr Current ML: $47,000 CC income: $46,299/yr Cost cap: 25% of CC = $11,575/yr IV: HIGH 51 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 65d, 67.7% OTM) | Cost: $562/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $95 | Margin (TIMS): $2,756

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 78P (Oct 16 '26, 93d, 28.5% OTM) | Cost: $10,302/yr (22% of CC) | New ML: $25,750 ↓ $21,250 | Roll DEBIT $2,620 | Margin (TIMS): $1,700

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	65d	67.7%	$0.10	$0.20	$562	1%	$47,000	=	D $95
2	36	Sep 18	65d	66.8%	$0.05	$0.21	$590	1%	$46,500	-$500	D $100
3	37	Sep 18	65d	65.8%	$0.07	$0.22	$618	1%	$46,000	-$1,000	D $105
4	40	Sep 18	65d	63.1%	$0.15	$0.22	$618	1%	$44,500	-$2,500	D $105
5	35	Oct 16	93d	67.7%	$0.11	$0.32	$628	1%	$47,000	=	D $155
6	40	Oct 16	93d	63.1%	$0.24	$0.35	$687	1%	$44,500	-$2,500	D $170
7	38	Sep 18	65d	64.9%	$0.07	$0.25	$702	2%	$45,500	-$1,500	D $120
8	43	Sep 18	65d	60.3%	$0.17	$0.28	$786	2%	$43,000	-$4,000	D $135
9	41	Sep 18	65d	62.2%	$0.13	$0.30	$842	2%	$44,000	-$3,000	D $145
10	39	Oct 16	93d	64.0%	$0.21	$0.44	$863	2%	$45,000	-$2,000	D $215
11	42	Sep 18	65d	61.2%	$0.14	$0.33	$927	2%	$43,500	-$3,500	D $160
12	45	Sep 18	65d	58.5%	$0.26	$0.33	$927	2%	$42,000	-$5,000	D $160
▶ 13	78 PROT	Oct 16	93d	28.5%	$4.95	$5.25	$10,302	22%	$25,750	-$21,250	D $2,620

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $118, B $8.20	$49,200/yr	$562/yr	SELF-FUNDING
CC at MID $126 0.4σ, B $5.95	$35,700/yr	$562/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($118, bid $8.20). 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).