Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$152,418/yr

TOTAL HEDGE (REPAIRED)

$97,066/yr

ANNUAL SAVINGS

$55,352/yr

ROLL CREDITS

$10,000

ADDITIONAL MAX LOSS

$24,000

PORTFOLIO ACTION SUMMARY · 47 positions

1 · ROLL NOW2 · REPAIR PLAN6 · LEAPS-ONLY38 · 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 (RetireInc) → +10C −18P +10P	$14.74	10	18	10	0	$17.13	$19.50	8	2.28x	32.2%	SAFE	50	$31,250	$73,700	ROLL NOW (35d)
IREN (Joint) → +25C −47P +35P −48C	$32.57	25	47	35	48	$44.00	$48.79	12	1.75x	-7.5%	ITM	20	$32,000	$65,140	REPAIR PLAN (91d)
IREN (Main) → +25C −47P +35P −48C	$32.57	25	47	35	48	$44.00	$48.79	12	1.75x	-7.5%	ITM	20	$32,000	$65,140	REPAIR PLAN (91d)
GOOG (Joint) +310C −390C	$342.96	310	0	0	390	$392.50	$338.36	0	1.00x	0.0%	N/A	5	$41,250	$171,480	LEAPS-ONLY
IBIT +75C	$35.42	75	0	0	0	$70.58	$47.96	0	1.00x	0.0%	N/A	50	$22,328	$177,125	LEAPS-ONLY
IGV +70C	$92.54	70	0	0	0	$96.50	$86.36	0	1.00x	0.0%	N/A	12	$31,800	$111,048	LEAPS-ONLY
MARA (Main) +40C	$10.63	40	0	0	0	$40.55	$13.84	0	1.00x	0.0%	N/A	200	$11,000	$212,600	LEAPS-ONLY
MSTR (Joint) +180C −122C	$90.65	180	0	0	122	$233.00	$146.93	0	1.00x	0.0%	N/A	10	$53,000	$90,650	LEAPS-ONLY
SPY +640C −764C	$741.65	640	0	0	764	$764.00	$694.33	0	1.00x	0.0%	N/A	12	$148,800	$889,980	LEAPS-ONLY
AMZN +215C −260P +230P −280C	$246.94	215	260	230	280	$256.25	$239.62	30	1.80x	6.9%	OK	10	$37,500	$246,940	OK
APP +460C −540P +185P −480C	$420.26	460	540	185	480	$588.00	$606.19	355	3.77x	56.0%	SAFE	1	$12,800	$42,026	OK
BMNR (Joint) +23C −65P +25P	$14.74	23	65	25	0	$30.29	$7.37	40	0.00x	-69.6%	ITM	150	$0	$221,100	OK
BMNR (Main) +25C −45P +15P	$14.74	25	45	15	0	$44.46	—	30	2.59x	-1.8%	ITM	50	$94,550	$73,700	OK
BMNR (Main) +23C −65P +25P	$14.74	23	65	25	0	$39.13	$7.37	40	0.00x	-69.6%	ITM	75	$0	$110,550	OK
CLSK +17C −17P +10P	$12.36	17	17	10	0	$20.74	$17.75	7	2.87x	19.1%	SAFE	25	$9,350	$30,888	OK
COIN (Main) +165C −240P +85P −188C	$154.23	165	240	85	188	$210.90	$217.77	155	10.23x	44.9%	SAFE	8	$13,440	$123,384	OK
COIN (Main) +500C −330P +300P −188C	$154.23	500	330	300	188	$563.00	$335.27	30	1.48x	-94.5%	ITM	25	$157,500	$385,575	OK
COIN (RetireInc) +145C −200P +75P −190C	$154.23	145	200	75	190	$182.40	$188.72	125	7.31x	51.4%	SAFE	3	$5,940	$46,269	OK
COPX +65C −90P +68P	$72.05	65	90	68	0	$93.40	$94.37	22	1.77x	5.6%	OK	20	$56,800	$144,100	OK
CRWV +105C −120P +40P −84C	$69.02	105	120	40	84	$125.45	$128.84	80	4.91x	42.0%	SAFE	5	$10,225	$34,508	OK
DELL +340C −390P +150P	$371.55	340	390	150	0	$398.00	$411.21	240	5.14x	59.6%	SAFE	3	$17,400	$111,465	OK
ENPH +45C −60P +20P	$39.88	45	60	20	0	$56.15	$58.43	40	6.48x	49.9%	SAFE	10	$7,300	$39,885	OK
ETHA +13C −16P +10P	$13.62	13	16	10	0	$17.33	$17.95	6	2.39x	26.6%	SAFE	50	$21,650	$68,125	OK
GLD +320C −450P +330P −377C	$366.04	320	450	330	377	$456.00	$473.09	120	1.88x	9.8%	OK	10	$136,000	$366,040	OK
GLXY +38C −38P +18P	$21.11	38	38	18	0	$39.71	$33.47	20	10.05x	17.1%	SAFE	125	$27,625	$263,875	OK
GOOG (Neville) +300C −345P +310P −370C	$342.96	300	345	310	370	$373.00	$337.05	35	1.48x	9.6%	OK	15	$109,500	$514,440	OK
GOOG (Neville) +340C −405P +360P −370C	$342.96	340	405	360	370	$398.00	$375.38	45	1.88x	-5.0%	ITM	5	$25,500	$171,480	OK
HIMS +10C −20P +5P −40C	$32.60	10	20	5	40	$17.47	$18.96	15	4.04x	84.7%	SAFE	15	$7,395	$48,899	OK
INTC +85C −100P +35P −121C	$90.65	85	100	35	121	$114.00	$116.19	65	3.24x	61.4%	SAFE	5	$14,500	$45,325	OK
IREN (Neville) +45C −65P +21P −42C	$32.57	45	65	21	42	$56.50	$59.23	44	15.67x	35.5%	SAFE	20	$6,000	$65,140	OK
IREN (RetireInc) +50C −70P +23P −42C	$32.57	50	70	23	42	$63.43	$67.80	47	7.86x	29.4%	SAFE	20	$13,700	$65,140	OK
MARA (Joint) +20C −17P +10P	$10.63	20	17	10	0	$24.33	$18.96	7	2.62x	5.9%	OK	50	$21,650	$53,150	OK
MARA (Main) +20C −25P +15P	$10.63	20	25	15	0	$22.69	$18.09	10	27.32x	-41.1%	ITM	200	$7,600	$212,600	OK
MARA (Neville) +25C −15P +13P	$10.63	25	15	13	0	$26.40	$14.50	2	2.43x	-22.3%	ITM	250	$35,000	$265,750	OK
MDB +270C −340P +150P −350C	$320.00	270	340	150	350	$362.90	$379.20	190	3.05x	53.1%	SAFE	1	$9,290	$32,000	OK
META +480C −650P +330P −630C	$641.30	480	650	330	630	$601.50	$604.77	320	5.38x	48.5%	SAFE	3	$21,900	$192,389	OK
MSTR (RetireInc) +125C −185P +55P −105C	$90.65	125	185	55	105	$161.00	$167.40	130	11.83x	39.3%	SAFE	4	$4,800	$36,260	OK
MU (Main) +880C −1010P +320P	$812.71	880	1010	320	0	$1028.60	$1058.89	690	5.64x	60.6%	SAFE	5	$74,300	$406,355	OK
MU (Neville) +970C −1110P +370P	$812.71	970	1110	370	0	$1220.00	$1250.64	740	3.96x	54.5%	SAFE	2	$50,000	$162,542	OK
NEM +88C −105P +75P	$89.60	88	105	75	0	$114.54	$117.89	30	2.11x	16.3%	SAFE	5	$13,520	$44,800	OK
NOW +80C −110P +90P	$104.58	80	110	90	0	$108.93	$113.00	20	1.72x	13.9%	SAFE	10	$27,850	$104,575	OK
NVDA +140C −175P +70P −218C	$199.70	140	175	70	218	$199.60	$202.71	105	2.76x	64.9%	SAFE	5	$29,800	$99,850	OK
QCOM +190C −210P +90P	$166.00	190	210	90	0	$224.00	$229.36	120	4.53x	45.8%	SAFE	5	$17,000	$82,998	OK
RIOT +17C −40P +17P −22C	$17.54	17	40	17	22	$23.65	$28.86	23	43.59x	3.1%	TIGHT	50	$2,700	$87,700	OK
RKLB +115C −135P +45P	$64.99	115	135	45	0	$141.55	$148.08	90	4.39x	30.8%	SAFE	6	$15,930	$38,994	OK
SOFI +10C −13P +5P −23C	$16.54	10	13	5	23	$15.75	$16.19	8	2.39x	69.8%	SAFE	35	$20,125	$57,872	OK
SPCX +150C −195P +135P −150C	$122.89	150	195	135	150	$186.00	$181.70	60	3.22x	-9.9%	ITM	5	$13,500	$61,445	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 91d

Stock: $32.57 HP: ITM Current hedge: $76,209/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $108,021/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 14 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	29	Oct 16	91d	11.0%	$6.05	$2.50	$5,000	$48,533	$45,485	$27,676	18	$12,000	5mo	1mo	2.12x	PASS
2	29	Sep 18	63d	11.0%	$5.10	$3.45	$6,900	$59,095	$65,700	$17,114	18	$12,000	8mo	1mo	2.12x	PASS
3	28	Oct 16	91d	14.0%	$5.60	$2.95	$5,900	$44,923	$47,089	$31,286	19	$14,000	5mo	1mo	2.19x	PASS
4	28	Sep 18	63d	14.0%	$4.60	$3.95	$7,900	$53,302	$68,017	$22,907	19	$14,000	7mo	1mo	2.19x	PASS
5	27	Oct 16	91d	17.1%	$5.05	$3.50	$7,000	$40,511	$50,699	$35,698	20	$16,000	5mo	1mo	2.25x	PASS
6	27	Sep 18	63d	17.1%	$4.20	$4.35	$8,700	$48,667	$73,232	$27,542	20	$16,000	7mo	1mo	2.25x	PASS
7	26	Oct 16	91d	20.2%	$4.60	$3.95	$7,900	$36,901	$53,346	$39,308	21	$18,000	5mo	1mo	2.31x	PASS
8	26	Sep 18	63d	20.2%	$3.70	$4.85	$9,700	$42,873	$77,056	$33,336	21	$18,000	6mo	2mo	2.31x	PASS
9	25	Oct 16	91d	23.2%	$4.05	$4.50	$9,000	$32,489	$48,934	$43,720	22	$20,000	5mo	2mo	2.38x	PASS
10	25	Sep 18	63d	23.2%	$3.30	$5.25	$10,500	$38,238	$70,683	$37,971	22	$20,000	6mo	2mo	2.38x	PASS
11	24	Oct 16	91d	26.3%	$3.70	$4.85	$9,700	$29,681	$44,522	$46,527	23	$22,000	6mo	2mo	2.44x	PASS
12	24	Sep 18	63d	26.3%	$2.96	$5.59	$11,180	$34,298	$64,310	$41,910	23	$22,000	6mo	2mo	2.44x	PASS
13	23	Oct 16	91d	29.4%	$3.40	$5.15	$10,300	$27,275	$40,912	$48,934	24	$24,000	6mo	2mo	2.50x	PASS
14	23	Sep 18	63d	29.4%	$2.75	$5.80	$11,600	$31,865	$59,095	$44,344	24	$24,000	6mo	2mo	2.50x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $1.15	$23,657/yr	$48,533/yr	DEFICIT $2,073/mo
CC at MID $41 0.7σ, B $2.48	$51,017/yr	$48,533/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $32.57 → $26.06, hedge $45,485/yr)
CC at SS vs stressed	$23,657/yr	$45,485/yr	DEFICIT $1,819/mo
CC at MID vs stressed	$51,017/yr	$45,485/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($41, bid $2.48). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 91d

#	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	29	Oct 16	91d	11.0%	$6.05	$2.50	$5,000	$48,533	$45,485	$27,676	18	$12,000	5mo	1mo	2.12x	PASS
2	29	Sep 18	63d	11.0%	$5.10	$3.45	$6,900	$59,095	$65,700	$17,114	18	$12,000	8mo	1mo	2.12x	PASS
3	28	Oct 16	91d	14.0%	$5.60	$2.95	$5,900	$44,923	$47,089	$31,286	19	$14,000	5mo	1mo	2.19x	PASS
4	28	Sep 18	63d	14.0%	$4.60	$3.95	$7,900	$53,302	$68,017	$22,907	19	$14,000	7mo	1mo	2.19x	PASS
5	27	Oct 16	91d	17.1%	$5.05	$3.50	$7,000	$40,511	$50,699	$35,698	20	$16,000	5mo	1mo	2.25x	PASS
6	27	Sep 18	63d	17.1%	$4.20	$4.35	$8,700	$48,667	$73,232	$27,542	20	$16,000	7mo	1mo	2.25x	PASS
7	26	Oct 16	91d	20.2%	$4.60	$3.95	$7,900	$36,901	$53,346	$39,308	21	$18,000	5mo	1mo	2.31x	PASS
8	26	Sep 18	63d	20.2%	$3.70	$4.85	$9,700	$42,873	$77,056	$33,336	21	$18,000	6mo	2mo	2.31x	PASS
9	25	Oct 16	91d	23.2%	$4.05	$4.50	$9,000	$32,489	$48,934	$43,720	22	$20,000	5mo	2mo	2.38x	PASS
10	25	Sep 18	63d	23.2%	$3.30	$5.25	$10,500	$38,238	$70,683	$37,971	22	$20,000	6mo	2mo	2.38x	PASS
11	24	Oct 16	91d	26.3%	$3.70	$4.85	$9,700	$29,681	$44,522	$46,527	23	$22,000	6mo	2mo	2.44x	PASS
12	24	Sep 18	63d	26.3%	$2.96	$5.59	$11,180	$34,298	$64,310	$41,910	23	$22,000	6mo	2mo	2.44x	PASS
13	23	Oct 16	91d	29.4%	$3.40	$5.15	$10,300	$27,275	$40,912	$48,934	24	$24,000	6mo	2mo	2.50x	PASS
14	23	Sep 18	63d	29.4%	$2.75	$5.80	$11,600	$31,865	$59,095	$44,344	24	$24,000	6mo	2mo	2.50x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $1.15	$23,657/yr	$48,533/yr	DEFICIT $2,073/mo
CC at MID $41 0.7σ, B $2.48	$51,017/yr	$48,533/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $32.57 → $26.06, hedge $45,485/yr)
CC at SS vs stressed	$23,657/yr	$45,485/yr	DEFICIT $1,819/mo
CC at MID vs stressed	$51,017/yr	$45,485/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($41, bid $2.48). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

BMNR (RetireInc): HP 10P Maintenance Roll-Out · exp Aug 21 '26, 35d

RELAXED PASS — no candidate met the standard constraints. Widened cost cap 25% → 50% of CC to surface the best available option below. Treat as a guideline breach, not a clean repair.

Stock: $14.74 Current HP: 10P (35d, 32.2% OTM) Current hedge: $16,164/yr Current ML: $71,250 CC income: $54,696/yr Cost cap: 50% of CC = $27,348/yr IV: HIGH 3 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 11P (Sep 18 '26, 63d, 25.4% OTM) | Cost: $18,540/yr (34% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $3,100 | Margin (TIMS): $701

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 12P (Sep 18 '26, 63d, 18.6% OTM) | Cost: $25,782/yr (47% of CC) | New ML: $61,250 ↓ $10,000 | Roll DEBIT $4,350 | Margin (TIMS): $617

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	11 CHEAP	Sep 18	63d	25.4%	$0.40	$0.64	$18,540	34%	$66,250	-$5,000	D $3,100
2	10	Sep 18	63d	32.2%	$0.01	$0.75	$21,726	40%	$71,250	=	D $3,650
▶ 3	12 PROT	Sep 18	63d	18.6%	$0.49	$0.89	$25,782	47%	$61,250	-$10,000	D $4,350

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.30	$15,429/yr	$18,540/yr	DEFICIT $259/mo
CC at MID $17 0.6σ, B $0.74	$38,057/yr	$18,540/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($17, bid $0.74). Self-funds in BOTH normal and 0% drawdown. At SS the position bleeds, so don't drift too far OTM.

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).