GENERATED2026-07-18 03:41
FORTRESS REPAIRHP Roll-Down Analysis
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)
TOTAL HEDGE (CURRENT)
$150,056/yr
TOTAL HEDGE (REPAIRED)
$103,011/yr
ANNUAL SAVINGS
$47,044/yr
ROLL CREDITS
$9,800
ADDITIONAL MAX LOSS
$20,000
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

FORTRESSSTOCKLCSPHPSC BE‑SS CC‑SS GAPRMHP OTM%STATUSCTRSICNOTIONALURGENCY
BMNR (RetireInc) →
+10C −18P +10P −18C
 $15.55 1018 1018 $17.13 $19.80 82.28x 35.7% SAFE 50 $31,250$77,775 ROLL NOW (34d)
IREN (Joint) →
+25C −47P +35P −39C
 $33.34 2547 3539 $44.00 $48.77 121.75x -5.0% ITM 20 $32,000$66,690 REPAIR PLAN (90d)
IREN (Main) →
+25C −47P +35P −39C
 $33.34 2547 3539 $44.00 $48.77 121.75x -5.0% ITM 20 $32,000$66,690 REPAIR PLAN (90d)
GOOG (Joint)
+310C −370C
 $343.79 3100 0370 $392.50 $337.97 01.00x 0.0% N/A 5 $41,250$171,895 LEAPS-ONLY
IBIT
+75C −38C
 $36.33 750 038 $70.58 $48.32 01.00x 0.0% N/A 50 $22,328$181,650 LEAPS-ONLY
IGV
+70C −96C
 $92.64 700 096 $96.50 $86.83 01.00x 0.0% N/A 12 $31,800$111,168 LEAPS-ONLY
MARA (Main)
+40C −13C
 $10.66 400 013 $40.55 $13.72 01.00x 0.0% N/A 200 $11,000$213,102 LEAPS-ONLY
MSTR (Joint)
+180C −122C
 $94.18 1800 0122 $233.00 $148.72 01.00x 0.0% N/A 10 $53,000$94,180 LEAPS-ONLY
SPY
+640C
 $742.94 6400 00 $764.00 $693.56 01.00x 0.0% N/A 12 $148,800$891,528 LEAPS-ONLY
AMZN
+215C −260P +230P −280C
 $246.81 215260 230280 $256.25 $239.16 301.80x 6.8% OK 10 $37,500$246,810 OK
APP
+460C −540P +185P −480C
 $423.57 460540 185480 $588.00 $607.76 3553.77x 56.3% SAFE 1 $12,800$42,358 OK
BMNR (Joint)
+23C −65P +25P −16C
 $15.55 2365 2516 $30.29 $7.78 400.00x -60.7% ITM 150 $0$233,325 OK
BMNR (Main)
+25C −45P +15P −18C
 $15.55 2545 1518 $44.46 — 302.59x 3.6% TIGHT 50 $94,550$77,775 OK
BMNR (Main)
+23C −65P +25P −18C
 $15.55 2365 2518 $39.13 $7.78 400.00x -60.7% ITM 75 $0$116,662 OK
CLSK
+17C −17P +10P −14C
 $12.84 1717 1014 $20.74 $17.53 72.87x 22.1% SAFE 25 $9,350$32,088 OK
COIN (Main)
+165C −240P +85P −170C
 $156.84 165240 85170 $210.90 $216.20 15510.23x 45.8% SAFE 8 $13,440$125,468 OK
COIN (Main)
+500C −330P +300P −170C
 $156.84 500330 300170 $563.00 $331.66 301.48x -91.3% ITM 25 $157,500$392,088 OK
COIN (RetireInc)
+145C −200P +75P −190C
 $156.84 145200 75190 $182.40 $187.38 1257.31x 52.2% SAFE 3 $5,940$47,050 OK
COPX
+65C −90P +68P
 $73.14 6590 680 $93.40 $95.42 221.77x 7.0% OK 20 $56,800$146,280 OK
CRWV
+105C −120P +40P −84C
 $73.17 105120 4084 $125.45 $129.64 804.91x 45.3% SAFE 5 $10,225$36,585 OK
DELL
+340C −390P +150P −432C
 $398.97 340390 150432 $398.00 $410.22 2405.14x 62.4% SAFE 3 $17,400$119,691 OK
ENPH
+45C −60P +20P −45C
 $41.60 4560 2045 $56.15 $58.84 406.48x 51.9% SAFE 10 $7,300$41,600 OK
ETHA
+13C −16P +10P
 $13.91 1316 100 $17.33 $18.16 62.39x 28.1% SAFE 50 $21,650$69,575 OK
GLD
+320C −450P +330P −377C
 $367.54 320450 330377 $456.00 $472.98 1201.88x 10.2% SAFE 10 $136,000$367,540 OK
GLXY
+38C −38P +18P −27C
 $21.62 3838 1827 $39.71 $33.10 2010.05x 19.1% SAFE 125 $27,625$270,250 OK
GOOG (Neville)
+300C −345P +310P −370C
 $343.79 300345 310370 $373.00 $336.73 351.48x 9.8% OK 15 $109,500$515,685 OK
GOOG (Neville)
+340C −405P +360P −370C
 $343.79 340405 360370 $398.00 $376.25 451.88x -4.7% ITM 5 $25,500$171,895 OK
HIMS
+10C −20P +5P −40C
 $33.01 1020 540 $17.47 $18.76 154.04x 84.9% SAFE 15 $7,395$49,508 OK
INTC
+85C −100P +35P −116C
 $95.70 85100 35116 $114.00 $116.77 653.24x 63.4% SAFE 5 $14,500$47,852 OK
IREN (Neville)
+45C −65P +21P −42C
 $33.34 4565 2142 $56.50 $59.07 4415.67x 37.0% SAFE 20 $6,000$66,690 OK
IREN (RetireInc)
+50C −70P +23P −42C
 $33.34 5070 2342 $63.43 $67.57 477.86x 31.0% SAFE 20 $13,700$66,690 OK
MARA (Joint)
+20C −17P +10P −12C
 $10.66 2017 1012 $24.33 $19.02 72.62x 6.1% OK 50 $21,650$53,275 OK
MARA (Main)
+20C −25P +15P −13C
 $10.66 2025 1513 $22.69 $18.18 1027.32x -40.8% ITM 200 $7,600$213,102 OK
MARA (Neville)
+25C −15P +13P −13C
 $10.66 2515 1313 $26.40 $14.38 22.43x -22.0% ITM 250 $35,000$266,378 OK
MDB
+270C −340P +150P −350C
 $312.97 270340 150350 $362.90 $379.98 1903.05x 52.1% SAFE 1 $9,290$31,297 OK
META
+480C −650P +330P −630C
 $642.94 480650 330630 $601.50 $604.99 3205.38x 48.7% SAFE 3 $21,900$192,882 OK
MSTR (RetireInc)
+125C −185P +55P −105C
 $94.18 125185 55105 $161.00 $168.14 13011.83x 41.6% SAFE 4 $4,800$37,672 OK
MU (Main)
+880C −1010P +320P −1050C
 $863.29 8801010 3201050 $1028.60 $1054.99 6905.64x 62.9% SAFE 5 $74,300$431,645 OK
MU (Neville)
+970C −1110P +370P −1040C
 $863.29 9701110 3701040 $1220.00 $1246.39 7403.96x 57.1% SAFE 2 $50,000$172,658 OK
NEM
+88C −105P +75P −97C
 $89.73 88105 7597 $114.54 $117.44 302.11x 16.4% SAFE 5 $13,520$44,865 OK
NOW
+80C −110P +90P
 $103.22 80110 900 $108.93 $113.34 201.72x 12.8% SAFE 10 $27,850$103,220 OK
NVDA
+140C −175P +70P −218C
 $202.91 140175 70218 $199.60 $203.31 1052.76x 65.5% SAFE 5 $29,800$101,455 OK
QCOM
+190C −210P +90P −180C
 $171.02 190210 90180 $224.00 $228.75 1204.53x 47.4% SAFE 5 $17,000$85,510 OK
RIOT
+17C −40P +17P −22C
 $18.24 1740 1722 $23.65 $29.43 2319.55x 6.8% OK 50 $6,200$91,200 OK
RKLB
+115C −135P +45P −75C
 $67.52 115135 4575 $141.55 $147.91 904.39x 33.3% SAFE 6 $15,930$40,509 OK
SOFI
+10C −13P +5P
 $17.29 1013 50 $15.75 $16.10 82.39x 71.1% SAFE 35 $20,125$60,498 OK
SPCX
+150C −195P +135P −150C
 $123.97 150195 135150 $186.00 $183.53 603.22x -8.9% ITM 5 $13,500$61,982 OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 90d

Stock: $33.34 HP: ITM Current hedge: $75,028/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $116,569/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 14 PASS
RECOMMENDED: Roll HP 35 → 30 (Oct 16, 90d) | Save $23,522/yr | Payback 5mo (0.43yr) hedge only, 1mo (0.07yr) w/income (gate: 12mo (1.0yr)) | HP moves to 10.0% OTM | RM 1.75x → 2.06x | Margin (TIMS): $1,142
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 30 Oct 16 90d 10.0% $6.35 $2.45 $4,900 $51,506 $47,004 $23,522 17 $10,000 5mo 1mo 2.06x PASS
2 30 Sep 18 62d 10.0% $5.40 $3.40 $6,800 $63,581 $68,231 $11,447 17 $10,000 10mo 1mo 2.06x PASS
3 29 Oct 16 90d 13.0% $5.85 $2.95 $5,900 $47,450 $49,843 $27,578 18 $12,000 5mo 1mo 2.12x PASS
4 29 Sep 18 62d 13.0% $4.90 $3.90 $7,800 $57,694 $72,352 $17,334 18 $12,000 8mo 1mo 2.12x PASS
5 28 Oct 16 90d 16.0% $5.35 $3.45 $6,900 $43,394 $52,682 $31,633 19 $14,000 5mo 1mo 2.19x PASS
6 28 Sep 18 62d 16.0% $4.45 $4.35 $8,700 $52,395 $76,473 $22,633 19 $14,000 7mo 1mo 2.19x PASS
7 27 Oct 16 90d 19.0% $4.95 $3.85 $7,700 $40,150 $55,926 $34,878 20 $16,000 6mo 1mo 2.25x PASS
8 27 Sep 18 62d 19.0% $4.00 $4.80 $9,600 $47,097 $81,183 $27,931 20 $16,000 7mo 1mo 2.25x PASS
9 26 Oct 16 90d 22.0% $4.45 $4.35 $8,700 $36,094 $52,317 $38,933 21 $18,000 6mo 1mo 2.31x PASS
10 26 Sep 18 62d 22.0% $3.60 $5.20 $10,400 $42,387 $75,944 $32,641 21 $18,000 7mo 1mo 2.31x PASS
11 25 Oct 16 90d 25.0% $4.00 $4.80 $9,600 $32,444 $47,856 $42,583 22 $20,000 6mo 2mo 2.38x PASS
12 25 Sep 18 62d 25.0% $3.20 $5.60 $11,200 $37,677 $69,468 $37,350 22 $20,000 6mo 2mo 2.38x PASS
13 24 Oct 16 90d 28.0% $3.65 $5.15 $10,300 $29,606 $43,800 $45,422 23 $22,000 6mo 2mo 2.44x PASS
14 24 Sep 18 62d 28.0% $2.90 $5.90 $11,800 $34,145 $63,581 $40,883 23 $22,000 6mo 2mo 2.44x PASS
POST-REPAIR SUSTAINABILITY CC chain Aug 21 (34d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $49, B $1.36 $28,800/yr $51,506/yr DEFICIT $1,892/mo
CC at MID $42 0.7σ, B $2.55 $54,000/yr $51,506/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $33.34 → $26.68, hedge $47,004/yr)
CC at SS vs stressed $28,800/yr $47,004/yr DEFICIT $1,517/mo
CC at MID vs stressed $54,000/yr $47,004/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at MID ($42, bid $2.55). 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, 90d

Stock: $33.34 HP: ITM Current hedge: $75,028/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $116,569/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 14 PASS
RECOMMENDED: Roll HP 35 → 30 (Oct 16, 90d) | Save $23,522/yr | Payback 5mo (0.43yr) hedge only, 1mo (0.07yr) w/income (gate: 12mo (1.0yr)) | HP moves to 10.0% OTM | RM 1.75x → 2.06x | Margin (TIMS): $1,141
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 30 Oct 16 90d 10.0% $6.35 $2.45 $4,900 $51,506 $47,004 $23,522 17 $10,000 5mo 1mo 2.06x PASS
2 30 Sep 18 62d 10.0% $5.40 $3.40 $6,800 $63,581 $68,231 $11,447 17 $10,000 10mo 1mo 2.06x PASS
3 29 Oct 16 90d 13.0% $5.85 $2.95 $5,900 $47,450 $49,843 $27,578 18 $12,000 5mo 1mo 2.12x PASS
4 29 Sep 18 62d 13.0% $4.90 $3.90 $7,800 $57,694 $72,352 $17,334 18 $12,000 8mo 1mo 2.12x PASS
5 28 Oct 16 90d 16.0% $5.35 $3.45 $6,900 $43,394 $52,682 $31,633 19 $14,000 5mo 1mo 2.19x PASS
6 28 Sep 18 62d 16.0% $4.45 $4.35 $8,700 $52,395 $76,473 $22,633 19 $14,000 7mo 1mo 2.19x PASS
7 27 Oct 16 90d 19.0% $4.95 $3.85 $7,700 $40,150 $55,926 $34,878 20 $16,000 6mo 1mo 2.25x PASS
8 27 Sep 18 62d 19.0% $4.00 $4.80 $9,600 $47,097 $81,183 $27,931 20 $16,000 7mo 1mo 2.25x PASS
9 26 Oct 16 90d 22.0% $4.45 $4.35 $8,700 $36,094 $52,317 $38,933 21 $18,000 6mo 1mo 2.31x PASS
10 26 Sep 18 62d 22.0% $3.60 $5.20 $10,400 $42,387 $75,944 $32,641 21 $18,000 7mo 1mo 2.31x PASS
11 25 Oct 16 90d 25.0% $4.00 $4.80 $9,600 $32,444 $47,856 $42,583 22 $20,000 6mo 2mo 2.38x PASS
12 25 Sep 18 62d 25.0% $3.20 $5.60 $11,200 $37,677 $69,468 $37,350 22 $20,000 6mo 2mo 2.38x PASS
13 24 Oct 16 90d 28.0% $3.65 $5.15 $10,300 $29,606 $43,800 $45,422 23 $22,000 6mo 2mo 2.44x PASS
14 24 Sep 18 62d 28.0% $2.90 $5.90 $11,800 $34,145 $63,581 $40,883 23 $22,000 6mo 2mo 2.44x PASS
POST-REPAIR SUSTAINABILITY CC chain Aug 21 (34d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $49, B $1.36 $28,800/yr $51,506/yr DEFICIT $1,892/mo
CC at MID $42 0.7σ, B $2.55 $54,000/yr $51,506/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $33.34 → $26.68, hedge $47,004/yr)
CC at SS vs stressed $28,800/yr $47,004/yr DEFICIT $1,517/mo
CC at MID vs stressed $54,000/yr $47,004/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at MID ($42, bid $2.55). 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, 34d

Stock: $15.55 Current HP: 10P (34d, 35.7% OTM) Current hedge: $8,588/yr Current ML: $71,250 CC income: $57,233/yr Cost cap: 25% of CC = $14,308/yr IV: HIGH 2 qualifying
CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 11P (Sep 18 '26, 62d, 29.3% OTM) | Cost: $12,952/yr (23% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $2,000 | Margin (TIMS): $757
PROTECTIVE PICK: same as CHEAPEST (no higher-strike candidate clears the cost cap).
#NEW HPEXPIRYDTEOTM% BIDASKHEDGE/YR%CC NEW MLΔMLROLL
▶ 1 11 CHEAP PROT Sep 18 62d 29.3% $0.28 $0.44 $12,952 23% $66,250 -$5,000 D $2,000
2 10 Sep 18 62d 35.7% $0.02 $0.47 $13,835 24% $71,250 = D $2,150
POST-REPAIR SUSTAINABILITY CC chain Aug 21 (34d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $20, B $0.43 $22,765/yr $12,952/yr SELF-FUNDING
CC at MID $18 0.6σ, B $0.77 $40,765/yr $12,952/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at SS ($20, bid $0.43). 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).