Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$120,828/yr

TOTAL HEDGE (REPAIRED)

$111,598/yr

ANNUAL SAVINGS

$9,230/yr

ROLL CREDITS

-$400

ADDITIONAL MAX LOSS

$4,000

PORTFOLIO ACTION SUMMARY · 46 positions

1 · ROLL NOW2 · REPAIR PLAN6 · LEAPS-ONLY37 · 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	$16.54	10	18	10	0	$17.13	$19.71	8	2.28x	39.5%	SAFE	50	$31,250	$82,700	ROLL NOW (31d)
IREN (Joint) → +25C −47P +35P −55C	$39.82	25	47	35	55	$44.00	$48.71	12	1.75x	12.1%	SAFE	20	$32,000	$79,640	REPAIR PLAN (87d)
IREN (Main) → +25C −47P +35P −55C	$39.82	25	47	35	55	$44.00	$48.71	12	1.75x	12.1%	SAFE	20	$32,000	$79,640	REPAIR PLAN (87d)
GOOG (Joint) +310C −370C	$352.53	310	0	0	370	$392.50	$339.68	0	1.00x	0.0%	N/A	5	$41,250	$176,265	LEAPS-ONLY
IBIT +75C	$36.85	75	0	0	0	$70.58	$48.52	0	1.00x	0.0%	N/A	50	$22,328	$184,250	LEAPS-ONLY
IGV +70C −96C	$93.59	70	0	0	96	$96.50	$87.21	0	1.00x	0.0%	N/A	12	$31,800	$112,314	LEAPS-ONLY
MARA (Main) +40C	$11.71	40	0	0	0	$40.55	$14.71	0	1.00x	0.0%	N/A	200	$11,000	$234,100	LEAPS-ONLY
MSTR (Joint) +180C −105C	$97.43	180	0	0	105	$233.00	$148.63	0	1.00x	0.0%	N/A	10	$53,000	$97,430	LEAPS-ONLY
SPY +640C −758C	$742.91	640	0	0	758	$764.00	$695.03	0	1.00x	0.0%	N/A	12	$148,800	$891,492	LEAPS-ONLY
AMZN +215C −260P +230P −280C	$249.96	215	260	230	280	$256.25	$240.62	30	1.80x	8.0%	OK	10	$37,500	$249,960	OK
APP +460C −540P +185P −480C	$429.20	460	540	185	480	$588.00	$609.12	355	3.77x	56.9%	SAFE	1	$12,800	$42,920	OK
BMNR (Joint) +23C −65P +25P	$16.54	23	65	25	0	$30.29	$8.27	40	0.00x	-51.1%	ITM	150	$0	$248,100	OK
BMNR (Main) +25C −45P +15P	$16.54	25	45	15	0	$44.46	—	30	2.59x	9.3%	OK	50	$94,550	$82,700	OK
BMNR (Main) +23C −65P +25P	$16.54	23	65	25	0	$39.13	$8.27	40	0.00x	-51.1%	ITM	75	$0	$124,050	OK
CLSK +17C −17P +10P	$14.49	17	17	10	0	$20.74	$17.17	7	2.87x	31.0%	SAFE	25	$9,350	$36,238	OK
COIN (Main) +165C −240P +85P −180C	$159.74	165	240	85	180	$210.90	$215.31	155	10.23x	46.8%	SAFE	8	$13,440	$127,788	OK
COIN (Main) +500C −330P +300P −180C	$159.74	500	330	300	180	$563.00	$332.79	30	1.48x	-87.8%	ITM	25	$157,500	$399,338	OK
COIN (RetireInc) +145C −200P +75P −190C	$159.74	145	200	75	190	$182.40	$186.69	125	7.31x	53.0%	SAFE	3	$5,940	$47,921	OK
COPX +65C −90P +68P	$73.80	65	90	68	0	$93.40	$95.28	22	1.77x	7.9%	OK	20	$56,800	$147,600	OK
CRWV +105C −120P +40P −84C	$73.40	105	120	40	84	$125.45	$129.19	80	4.91x	45.5%	SAFE	5	$10,225	$36,702	OK
DELL +340C −390P +150P −420C	$383.60	340	390	150	420	$398.00	$410.61	240	5.14x	60.9%	SAFE	3	$17,400	$115,079	OK
ENPH +45C −60P +20P −45C	$39.52	45	60	20	45	$56.15	$58.93	40	6.48x	49.4%	SAFE	10	$7,300	$39,515	OK
ETHA +13C −16P +10P	$14.30	13	16	10	0	$17.33	$17.97	6	2.39x	30.1%	SAFE	50	$21,650	$71,500	OK
GLD +320C −450P +330P −377C	$367.95	320	450	330	377	$456.00	$473.27	120	1.88x	10.3%	SAFE	10	$136,000	$367,950	OK
GLXY +38C −38P +18P	$23.62	38	38	18	0	$39.71	$33.53	20	10.05x	25.9%	SAFE	125	$27,625	$295,250	OK
GOOG (Neville) +300C −345P +310P −370C	$352.53	300	345	310	370	$373.00	$338.49	35	1.48x	12.1%	SAFE	15	$109,500	$528,795	OK
GOOG (Neville) +340C −405P +360P −370C	$352.53	340	405	360	370	$398.00	$375.21	45	1.88x	-2.1%	ITM	5	$25,500	$176,265	OK
HIMS +10C −20P +5P	$32.66	10	20	5	0	$17.47	$18.62	15	4.04x	84.7%	SAFE	15	$7,395	$48,990	OK
INTC +85C −100P +35P −116C	$97.69	85	100	35	116	$114.00	$116.97	65	3.24x	64.2%	SAFE	5	$14,500	$48,844	OK
IREN (Neville) +45C −65P +21P −55C	$39.82	45	65	21	55	$56.50	$58.91	44	15.67x	47.3%	SAFE	20	$6,000	$79,640	OK
IREN (RetireInc) +50C −70P +23P −55C	$39.82	50	70	23	55	$63.43	$67.32	47	7.86x	42.2%	SAFE	20	$13,700	$79,640	OK
MARA (Joint) +20C −17P +10P	$11.71	20	17	10	0	$24.33	$18.93	7	2.62x	14.6%	SAFE	50	$21,650	$58,525	OK
MARA (Main) +20C −25P +15P	$11.71	20	25	15	0	$22.69	$18.31	10	27.32x	-28.2%	ITM	200	$7,600	$234,100	OK
MARA (Neville) +25C −15P +13P	$11.71	25	15	13	0	$26.40	$14.58	2	2.43x	-11.1%	ITM	250	$35,000	$292,625	OK
MDB +270C −340P +150P −350C	$325.27	270	340	150	350	$362.90	$380.67	190	3.05x	53.9%	SAFE	1	$9,290	$32,527	OK
META +480C −650P +330P −630C	$649.99	480	650	330	630	$601.50	$606.47	320	5.38x	49.2%	SAFE	3	$21,900	$194,997	OK
MSTR (RetireInc) +125C −185P +55P −105C	$97.43	125	185	55	105	$161.00	$167.61	130	11.83x	43.5%	SAFE	4	$4,800	$38,972	OK
MU (Main) +880C −1010P +320P −1050C	$865.00	880	1010	320	1050	$1028.60	$1060.49	690	5.64x	63.0%	SAFE	5	$74,300	$432,500	OK
MU (Neville) +970C −1110P +370P −1040C	$865.00	970	1110	370	1040	$1220.00	$1249.07	740	3.96x	57.2%	SAFE	2	$50,000	$173,000	OK
NEM +88C −105P +75P −97C	$89.60	88	105	75	97	$114.54	$117.55	30	2.11x	16.3%	SAFE	5	$13,520	$44,800	OK
NOW +80C −110P +90P	$105.14	80	110	90	0	$108.93	$113.93	20	1.72x	14.4%	SAFE	10	$27,850	$105,140	OK
NVDA +140C −175P +70P −212C	$203.12	140	175	70	212	$199.60	$203.54	105	2.76x	65.5%	SAFE	5	$29,800	$101,560	OK
QCOM +190C −210P +90P −180C	$170.69	190	210	90	180	$224.00	$227.92	120	4.53x	47.3%	SAFE	5	$17,000	$85,342	OK
RIOT +17C −40P +17P	$19.89	17	40	17	0	$23.65	$30.89	23	8.94x	14.6%	SAFE	50	$14,475	$99,475	OK
RKLB +115C −135P +45P −75C	$65.97	115	135	45	75	$141.55	$147.56	90	4.39x	31.8%	SAFE	6	$15,930	$39,582	OK
SPCX +150C −195P +135P −134C	$120.48	150	195	135	134	$186.00	$183.70	60	3.22x	-12.1%	ITM	5	$13,500	$60,240	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 87d

Stock: $39.82 HP: 12.1% OTM Current hedge: $60,414/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $158,940/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 7 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	87d	14.6%	$6.65	$-0.10	$-200	$55,799	$75,685	$4,615	13	$2,000	5mo	0mo	1.81x	PASS
2	33	Oct 16	87d	17.1%	$6.20	$0.35	$700	$52,023	$78,622	$8,391	14	$4,000	6mo	0mo	1.88x	PASS
3	32	Oct 16	87d	19.6%	$5.70	$0.85	$1,700	$47,828	$82,398	$12,586	15	$6,000	6mo	0mo	1.94x	PASS
4	31	Oct 16	87d	22.1%	$5.35	$1.20	$2,400	$44,891	$78,454	$15,523	16	$8,000	6mo	1mo	2.00x	PASS
5	30	Oct 16	87d	24.7%	$4.90	$1.65	$3,300	$41,115	$69,224	$19,299	17	$10,000	6mo	1mo	2.06x	PASS
6	29	Oct 16	87d	27.2%	$4.60	$1.95	$3,900	$38,598	$64,609	$21,816	18	$12,000	7mo	1mo	2.12x	PASS
7	28	Oct 16	87d	29.7%	$4.15	$2.40	$4,800	$34,822	$60,414	$25,592	19	$14,000	7mo	1mo	2.19x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $3.20	$74,323/yr	$55,799/yr	SELF-FUNDING
CC at MID $50 0.7σ, B $2.91	$67,587/yr	$55,799/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $39.82 → $31.86, hedge $75,685/yr)
CC at SS vs stressed	$74,323/yr	$75,685/yr	DEFICIT $114/mo
CC at MID vs stressed	$67,587/yr	$75,685/yr	DEFICIT $675/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.91) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$675/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 87d

#	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	87d	14.6%	$6.65	$-0.10	$-200	$55,799	$75,685	$4,615	13	$2,000	5mo	0mo	1.81x	PASS
2	33	Oct 16	87d	17.1%	$6.20	$0.35	$700	$52,023	$78,622	$8,391	14	$4,000	6mo	0mo	1.88x	PASS
3	32	Oct 16	87d	19.6%	$5.70	$0.85	$1,700	$47,828	$82,398	$12,586	15	$6,000	6mo	0mo	1.94x	PASS
4	31	Oct 16	87d	22.1%	$5.35	$1.20	$2,400	$44,891	$78,454	$15,523	16	$8,000	6mo	1mo	2.00x	PASS
5	30	Oct 16	87d	24.7%	$4.90	$1.65	$3,300	$41,115	$69,224	$19,299	17	$10,000	6mo	1mo	2.06x	PASS
6	29	Oct 16	87d	27.2%	$4.60	$1.95	$3,900	$38,598	$64,609	$21,816	18	$12,000	7mo	1mo	2.12x	PASS
7	28	Oct 16	87d	29.7%	$4.15	$2.40	$4,800	$34,822	$60,414	$25,592	19	$14,000	7mo	1mo	2.19x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $3.20	$74,323/yr	$55,799/yr	SELF-FUNDING
CC at MID $50 0.7σ, B $2.91	$67,587/yr	$55,799/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $39.82 → $31.86, hedge $75,685/yr)
CC at SS vs stressed	$74,323/yr	$75,685/yr	DEFICIT $114/mo
CC at MID vs stressed	$67,587/yr	$75,685/yr	DEFICIT $675/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.91) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$675/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

BMNR (RetireInc): HP 10P Maintenance Roll-Out · exp Aug 21 '26, 31d

Stock: $16.54 Current HP: 10P (31d, 39.5% OTM) Current hedge: $4,121/yr Current ML: $71,250 CC income: $62,871/yr Cost cap: 25% of CC = $15,718/yr IV: HIGH 3 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 122d, 39.5% OTM) | Cost: $9,873/yr (16% of CC) | New ML: $71,250 = ML | Roll DEBIT $3,050 | Margin (TIMS): $949

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 11P (Nov 20 '26, 122d, 33.5% OTM) | Cost: $12,865/yr (20% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $4,050 | Margin (TIMS): $881

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	122d	39.5%	$0.52	$0.66	$9,873	16%	$71,250	=	D $3,050
2	10	Jan 15	178d	39.5%	$0.86	$0.98	$10,048	16%	$71,250	=	D $4,650
▶ 3	11 PROT	Nov 20	122d	33.5%	$0.74	$0.86	$12,865	20%	$66,250	-$5,000	D $4,050

POST-REPAIR SUSTAINABILITY CC chain Aug 21 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.56	$32,516/yr	$9,873/yr	SELF-FUNDING
CC at MID $20 0.6σ, B $0.64	$37,161/yr	$9,873/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($20, bid $0.56). 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).