Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$128,580/yr

TOTAL HEDGE (REPAIRED)

$127,750/yr

ANNUAL SAVINGS

$830/yr

ROLL CREDITS

-$2,600

ADDITIONAL MAX LOSS

$4,000

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 −18C	$16.25	10	18	10	18	$17.13	$19.35	8	2.28x	38.4%	SAFE	50	$31,250	$81,225	ROLL NOW (32d)
IREN (Joint) → +25C −47P +35P −39C	$38.41	25	47	35	39	$44.00	$49.46	12	1.75x	8.9%	OK	20	$32,000	$76,820	REPAIR PLAN (88d)
IREN (Main) → +25C −47P +35P −39C	$38.41	25	47	35	39	$44.00	$49.46	12	1.75x	8.9%	OK	20	$32,000	$76,820	REPAIR PLAN (88d)
GOOG (Joint) +310C −370C	$356.47	310	0	0	370	$392.50	$338.59	0	1.00x	0.0%	N/A	5	$41,250	$178,235	LEAPS-ONLY
IBIT +75C −38C	$36.59	75	0	0	38	$70.58	$48.52	0	1.00x	0.0%	N/A	50	$22,328	$182,925	LEAPS-ONLY
IGV +70C −96C	$93.04	70	0	0	96	$96.50	$86.97	0	1.00x	0.0%	N/A	12	$31,800	$111,648	LEAPS-ONLY
MARA (Main) +40C −13C	$11.38	40	0	0	13	$40.55	$14.00	0	1.00x	0.0%	N/A	200	$11,000	$227,600	LEAPS-ONLY
MSTR (Joint) +180C −105C	$96.04	180	0	0	105	$233.00	$150.19	0	1.00x	0.0%	N/A	10	$53,000	$96,040	LEAPS-ONLY
SPY +640C	$748.02	640	0	0	0	$764.00	$694.42	0	1.00x	0.0%	N/A	12	$148,800	$897,624	LEAPS-ONLY
AMZN +215C −260P +230P −280C	$249.32	215	260	230	280	$256.25	$239.89	30	1.80x	7.7%	OK	10	$37,500	$249,320	OK
APP +460C −540P +185P −480C	$425.05	460	540	185	480	$588.00	$606.00	355	3.77x	56.5%	SAFE	1	$12,800	$42,504	OK
BMNR (Joint) +23C −65P +25P −16C	$16.25	23	65	25	16	$30.29	$8.12	40	0.00x	-53.9%	ITM	150	$0	$243,675	OK
BMNR (Main) +25C −45P +15P −18C	$16.25	25	45	15	18	$44.46	—	30	2.59x	7.7%	OK	50	$94,550	$81,225	OK
BMNR (Main) +23C −65P +25P −18C	$16.25	23	65	25	18	$39.13	$8.12	40	0.00x	-53.9%	ITM	75	$0	$121,838	OK
CLSK +17C −17P +10P −14C	$14.09	17	17	10	14	$20.74	$17.93	7	2.87x	29.0%	SAFE	25	$9,350	$35,225	OK
COIN (Main) +165C −240P +85P −170C	$158.26	165	240	85	170	$210.90	$218.84	155	10.23x	46.3%	SAFE	8	$13,440	$126,608	OK
COIN (Main) +500C −330P +300P −170C	$158.26	500	330	300	170	$563.00	$335.39	30	1.48x	-89.6%	ITM	25	$157,500	$395,650	OK
COIN (RetireInc) +145C −200P +75P −190C	$158.26	145	200	75	190	$182.40	$189.53	125	7.31x	52.6%	SAFE	3	$5,940	$47,478	OK
COPX +65C −90P +68P	$73.99	65	90	68	0	$93.40	$94.75	22	1.77x	8.1%	OK	20	$56,800	$147,980	OK
CRWV +105C −120P +40P −84C	$78.38	105	120	40	84	$125.45	$130.05	80	4.91x	49.0%	SAFE	5	$10,225	$39,190	OK
DELL +340C −390P +150P −432C	$393.94	340	390	150	432	$398.00	$410.04	240	5.14x	61.9%	SAFE	3	$17,400	$118,184	OK
ENPH +45C −60P +20P −45C	$40.32	45	60	20	45	$56.15	$58.10	40	6.48x	50.4%	SAFE	10	$7,300	$40,320	OK
ETHA +13C −16P +10P	$14.15	13	16	10	0	$17.33	$18.03	6	2.39x	29.3%	SAFE	50	$21,650	$70,750	OK
GLD +320C −450P +330P −377C	$368.21	320	450	330	377	$456.00	$473.37	120	1.88x	10.4%	SAFE	10	$136,000	$368,215	OK
GLXY +38C −38P +18P −27C	$22.57	38	38	18	27	$39.71	$33.39	20	10.05x	22.5%	SAFE	125	$27,625	$282,125	OK
GOOG (Neville) +300C −345P +310P −370C	$356.47	300	345	310	370	$373.00	$337.72	35	1.48x	13.0%	SAFE	15	$109,500	$534,705	OK
GOOG (Neville) +340C −405P +360P −370C	$356.47	340	405	360	370	$398.00	$375.71	45	1.88x	-1.0%	ITM	5	$25,500	$178,235	OK
HIMS +10C −20P +5P −40C	$32.81	10	20	5	40	$17.47	$18.57	15	4.04x	84.8%	SAFE	15	$7,395	$49,215	OK
INTC +85C −100P +35P −116C	$99.77	85	100	35	116	$114.00	$118.14	65	3.24x	64.9%	SAFE	5	$14,500	$49,882	OK
IREN (Neville) +45C −65P +21P −42C	$38.41	45	65	21	42	$56.50	$59.46	44	15.67x	45.3%	SAFE	20	$6,000	$76,820	OK
IREN (RetireInc) +50C −70P +23P −42C	$38.41	50	70	23	42	$63.43	$68.08	47	7.86x	40.1%	SAFE	20	$13,700	$76,820	OK
MARA (Joint) +20C −17P +10P −13C	$11.38	20	17	10	13	$24.33	$23.35	7	2.62x	12.1%	SAFE	50	$21,650	$56,900	OK
MARA (Main) +20C −25P +15P −13C	$11.38	20	25	15	13	$22.69	$22.82	10	27.32x	-31.8%	ITM	200	$7,600	$227,600	OK
MARA (Neville) +25C −15P +13P −13C	$11.38	25	15	13	13	$26.40	$15.84	2	2.43x	-14.2%	ITM	250	$35,000	$284,500	OK
MDB +270C −340P +150P −350C	$316.81	270	340	150	350	$362.90	$381.60	190	3.05x	52.7%	SAFE	1	$9,290	$31,681	OK
META +480C −650P +330P −630C	$641.62	480	650	330	630	$601.50	$606.57	320	5.38x	48.6%	SAFE	3	$21,900	$192,486	OK
MSTR (RetireInc) +125C −185P +55P −105C	$96.04	125	185	55	105	$161.00	$167.91	130	11.83x	42.7%	SAFE	4	$4,800	$38,416	OK
MU (Main) +880C −1010P +320P −1050C	$890.85	880	1010	320	1050	$1028.60	$1055.15	690	5.64x	64.1%	SAFE	5	$74,300	$445,422	OK
MU (Neville) +970C −1110P +370P −1040C	$890.85	970	1110	370	1040	$1220.00	$1244.73	740	3.96x	58.5%	SAFE	2	$50,000	$178,169	OK
NEM +88C −105P +75P −97C	$90.68	88	105	75	97	$114.54	$118.12	30	2.11x	17.3%	SAFE	5	$13,520	$45,340	OK
NOW +80C −110P +90P	$100.52	80	110	90	0	$108.93	$114.28	20	1.72x	10.5%	SAFE	10	$27,850	$100,515	OK
NVDA +140C −175P +70P −218C	$207.50	140	175	70	218	$199.60	$203.31	105	2.76x	66.3%	SAFE	5	$29,800	$103,750	OK
QCOM +190C −210P +90P −180C	$171.58	190	210	90	180	$224.00	$227.21	120	4.53x	47.5%	SAFE	5	$17,000	$85,790	OK
RIOT +17C −40P +17P −22C	$19.35	17	40	17	22	$23.65	$30.68	23	10.79x	12.1%	SAFE	50	$11,750	$96,750	OK
RKLB +115C −135P +45P −75C	$67.74	115	135	45	75	$141.55	$147.64	90	4.39x	33.6%	SAFE	6	$15,930	$40,644	OK
SOFI +10C −13P +5P	$17.16	10	13	5	0	$15.75	$16.10	8	2.39x	70.9%	SAFE	35	$20,125	$60,043	OK
SPCX +150C −195P +135P −150C	$123.39	150	195	135	150	$186.00	$182.98	60	3.22x	-9.4%	ITM	5	$13,500	$61,695	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 88d

Stock: $38.41 HP: 8.9% OTM Current hedge: $64,290/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $127,430/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	34	Oct 16	88d	11.5%	$7.70	$-0.65	$-1,300	$63,875	$62,298	$415	13	$2,000	58mo	0mo	1.81x	PASS
2	33	Oct 16	88d	14.1%	$6.50	$0.55	$1,100	$53,920	$65,201	$10,369	14	$4,000	5mo	0mo	1.88x	PASS
3	32	Oct 16	88d	16.7%	$6.65	$0.40	$800	$55,165	$62,298	$9,125	15	$6,000	8mo	1mo	1.94x	PASS
4	32	Sep 18	60d	16.7%	$4.90	$2.15	$4,300	$59,617	$91,370	$4,673	15	$6,000	15mo	1mo	1.94x	PASS
5	31	Oct 16	88d	19.3%	$5.65	$1.40	$2,800	$46,869	$65,616	$17,420	16	$8,000	6mo	1mo	2.00x	PASS
6	31	Sep 18	60d	19.3%	$4.55	$2.50	$5,000	$55,358	$96,237	$8,931	16	$8,000	11mo	1mo	2.00x	PASS
7	30	Oct 16	88d	21.9%	$5.60	$1.45	$2,900	$46,455	$65,949	$17,835	17	$10,000	7mo	1mo	2.06x	PASS
8	30	Sep 18	60d	21.9%	$4.10	$2.95	$5,900	$49,883	$96,725	$14,406	17	$10,000	8mo	1mo	2.06x	PASS
9	29	Oct 16	88d	24.5%	$5.20	$1.85	$3,700	$43,136	$61,386	$21,153	18	$12,000	7mo	1mo	2.12x	PASS
10	29	Sep 18	60d	24.5%	$3.70	$3.35	$6,700	$45,017	$90,033	$19,273	18	$12,000	7mo	1mo	2.12x	PASS
11	28	Oct 16	88d	27.1%	$4.50	$2.55	$5,100	$37,330	$51,847	$26,960	19	$14,000	6mo	1mo	2.19x	PASS
12	28	Sep 18	60d	27.1%	$3.35	$3.70	$7,400	$40,758	$76,042	$23,531	19	$14,000	7mo	1mo	2.19x	PASS
13	27	Oct 16	88d	29.7%	$4.35	$2.70	$5,400	$36,085	$48,114	$28,205	20	$16,000	7mo	1mo	2.25x	PASS
14	27	Sep 18	60d	29.7%	$3.50	$3.55	$7,100	$42,583	$70,567	$21,706	20	$16,000	9mo	1mo	2.25x	PASS
15	33	Sep 18	60d	14.1%	$5.60	$1.45	$2,900	$68,133	$95,629	$-3,844	14	$4,000	N/A	0mo	1.88x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $2.41	$54,225/yr	$63,875/yr	DEFICIT $804/mo
CC at MID $48 0.7σ, B $2.83	$63,675/yr	$63,875/yr	DEFICIT $17/mo
AT 20% DRAWDOWN (stock $38.41 → $30.73, hedge $62,298/yr)
CC at SS vs stressed	$54,225/yr	$62,298/yr	DEFICIT $673/mo
CC at MID vs stressed	$63,675/yr	$62,298/yr	SELF-FUNDING

NOT SELF-FUNDING Requires ongoing capital even at MID

CC WRITING STRATEGY

NO SAFE CC STRATEGY at the current chain. Hedge bleeds even at MID strike. Either restructure (deeper-OTM HP, smaller position) or commit to ongoing capital subsidy.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 88d

#	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	34	Oct 16	88d	11.5%	$7.70	$-0.65	$-1,300	$63,875	$62,298	$415	13	$2,000	58mo	0mo	1.81x	PASS
2	33	Oct 16	88d	14.1%	$6.50	$0.55	$1,100	$53,920	$65,201	$10,369	14	$4,000	5mo	0mo	1.88x	PASS
3	32	Oct 16	88d	16.7%	$6.65	$0.40	$800	$55,165	$62,298	$9,125	15	$6,000	8mo	1mo	1.94x	PASS
4	32	Sep 18	60d	16.7%	$4.90	$2.15	$4,300	$59,617	$91,370	$4,673	15	$6,000	15mo	1mo	1.94x	PASS
5	31	Oct 16	88d	19.3%	$5.65	$1.40	$2,800	$46,869	$65,616	$17,420	16	$8,000	6mo	1mo	2.00x	PASS
6	31	Sep 18	60d	19.3%	$4.55	$2.50	$5,000	$55,358	$96,237	$8,931	16	$8,000	11mo	1mo	2.00x	PASS
7	30	Oct 16	88d	21.9%	$5.60	$1.45	$2,900	$46,455	$65,949	$17,835	17	$10,000	7mo	1mo	2.06x	PASS
8	30	Sep 18	60d	21.9%	$4.10	$2.95	$5,900	$49,883	$96,725	$14,406	17	$10,000	8mo	1mo	2.06x	PASS
9	29	Oct 16	88d	24.5%	$5.20	$1.85	$3,700	$43,136	$61,386	$21,153	18	$12,000	7mo	1mo	2.12x	PASS
10	29	Sep 18	60d	24.5%	$3.70	$3.35	$6,700	$45,017	$90,033	$19,273	18	$12,000	7mo	1mo	2.12x	PASS
11	28	Oct 16	88d	27.1%	$4.50	$2.55	$5,100	$37,330	$51,847	$26,960	19	$14,000	6mo	1mo	2.19x	PASS
12	28	Sep 18	60d	27.1%	$3.35	$3.70	$7,400	$40,758	$76,042	$23,531	19	$14,000	7mo	1mo	2.19x	PASS
13	27	Oct 16	88d	29.7%	$4.35	$2.70	$5,400	$36,085	$48,114	$28,205	20	$16,000	7mo	1mo	2.25x	PASS
14	27	Sep 18	60d	29.7%	$3.50	$3.55	$7,100	$42,583	$70,567	$21,706	20	$16,000	9mo	1mo	2.25x	PASS
15	33	Sep 18	60d	14.1%	$5.60	$1.45	$2,900	$68,133	$95,629	$-3,844	14	$4,000	N/A	0mo	1.88x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $2.41	$54,225/yr	$63,875/yr	DEFICIT $804/mo
CC at MID $48 0.7σ, B $2.83	$63,675/yr	$63,875/yr	DEFICIT $17/mo
AT 20% DRAWDOWN (stock $38.41 → $30.73, hedge $62,298/yr)
CC at SS vs stressed	$54,225/yr	$62,298/yr	DEFICIT $673/mo
CC at MID vs stressed	$63,675/yr	$62,298/yr	SELF-FUNDING

NOT SELF-FUNDING Requires ongoing capital even at MID

CC WRITING STRATEGY

NO SAFE CC STRATEGY at the current chain. Hedge bleeds even at MID strike. Either restructure (deeper-OTM HP, smaller position) or commit to ongoing capital subsidy.

BMNR (RetireInc): HP 10P Maintenance Roll-Out · exp Aug 21 '26, 32d

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: $16.25 Current HP: 10P (32d, 38.4% OTM) Current hedge: $32,508/yr Current ML: $71,250 CC income: $51,799/yr Cost cap: 50% of CC = $25,900/yr IV: HIGH 2 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Sep 18 '26, 60d, 38.4% OTM) | Cost: $16,425/yr (32% of CC) | New ML: $71,250 = ML | Roll DEBIT $2,600 | Margin (TIMS): $897

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 11P (Sep 18 '26, 60d, 32.3% OTM) | Cost: $21,292/yr (41% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $3,400 | Margin (TIMS): $810

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Sep 18	60d	38.4%	$0.01	$0.54	$16,425	32%	$71,250	=	D $2,600
▶ 2	11 PROT	Sep 18	60d	32.3%	$0.01	$0.70	$21,292	41%	$66,250	-$5,000	D $3,400

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.23	$12,938/yr	$16,425/yr	DEFICIT $291/mo
CC at MID $20 0.7σ, B $0.23	$12,938/yr	$16,425/yr	DEFICIT $291/mo

NOT SELF-FUNDING Requires ongoing capital even at MID

CC WRITING STRATEGY

NO SAFE CC STRATEGY at the current chain. Hedge bleeds even at MID strike. Either restructure (deeper-OTM HP, smaller position) or commit to ongoing capital subsidy.

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).