Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$119,989/yr

TOTAL HEDGE (REPAIRED)

$111,598/yr

ANNUAL SAVINGS

$8,391/yr

ROLL CREDITS

-$600

ADDITIONAL MAX LOSS

$8,000

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	$16.87	10	18	10	0	$17.13	$19.92	8	2.28x	40.7%	SAFE	50	$31,250	$84,350	ROLL NOW (31d)
IREN (Joint) → +25C −47P +35P −55C	$42.17	25	47	35	55	$44.00	$50.89	12	1.75x	17.0%	SAFE	20	$32,000	$84,340	REPAIR PLAN (87d)
IREN (Main) → +25C −47P +35P −55C	$42.17	25	47	35	55	$44.00	$50.89	12	1.75x	17.0%	SAFE	20	$32,000	$84,340	REPAIR PLAN (87d)
GOOG (Joint) +310C −370C	$354.55	310	0	0	370	$392.50	$341.85	0	1.00x	0.0%	N/A	5	$41,250	$177,275	LEAPS-ONLY
IBIT +75C	$37.12	75	0	0	0	$70.58	$48.64	0	1.00x	0.0%	N/A	50	$22,328	$185,600	LEAPS-ONLY
IGV +70C −96C	$93.01	70	0	0	96	$96.50	$86.60	0	1.00x	0.0%	N/A	12	$31,800	$111,612	LEAPS-ONLY
MARA (Main) +40C	$11.82	40	0	0	0	$40.55	$14.61	0	1.00x	0.0%	N/A	200	$11,000	$236,400	LEAPS-ONLY
MSTR (Joint) +180C −105C	$99.33	180	0	0	105	$233.00	$150.03	0	1.00x	0.0%	N/A	10	$53,000	$99,330	LEAPS-ONLY
SPY +640C −758C	$744.93	640	0	0	758	$764.00	$697.76	0	1.00x	0.0%	N/A	12	$148,800	$893,922	LEAPS-ONLY
AMZN +215C −260P +230P −280C	$250.21	215	260	230	280	$256.25	$240.73	30	1.80x	8.1%	OK	10	$37,500	$250,210	OK
APP +460C −540P +185P −480C	$427.11	460	540	185	480	$588.00	$609.03	355	3.77x	56.7%	SAFE	1	$12,800	$42,710	OK
BMNR (Joint) +23C −65P +25P	$16.87	23	65	25	0	$30.29	$8.44	40	0.00x	-48.2%	ITM	150	$0	$253,050	OK
BMNR (Main) +25C −45P +15P	$16.87	25	45	15	0	$44.46	—	30	2.59x	11.1%	SAFE	50	$94,550	$84,350	OK
BMNR (Main) +23C −65P +25P	$16.87	23	65	25	0	$39.13	$8.44	40	0.00x	-48.2%	ITM	75	$0	$126,525	OK
CLSK +17C −17P +10P	$14.71	17	17	10	0	$20.74	$17.32	7	2.87x	32.0%	SAFE	25	$9,350	$36,775	OK
COIN (Main) +165C −240P +85P −180C	$162.66	165	240	85	180	$210.90	$218.16	155	10.23x	47.7%	SAFE	8	$13,440	$130,128	OK
COIN (Main) +500C −330P +300P −180C	$162.66	500	330	300	180	$563.00	$336.84	30	1.48x	-84.4%	ITM	25	$157,500	$406,650	OK
COIN (RetireInc) +145C −200P +75P −190C	$162.66	145	200	75	190	$182.40	$190.27	125	7.31x	53.9%	SAFE	3	$5,940	$48,798	OK
COPX +65C −90P +68P	$75.29	65	90	68	0	$93.40	$96.07	22	1.77x	9.7%	OK	20	$56,800	$150,580	OK
CRWV +105C −120P +40P −84C	$75.50	105	120	40	84	$125.45	$130.69	80	4.91x	47.0%	SAFE	5	$10,225	$37,752	OK
DELL +340C −390P +150P −420C	$389.86	340	390	150	420	$398.00	$418.86	240	5.14x	61.5%	SAFE	3	$17,400	$116,958	OK
ENPH +45C −60P +20P −45C	$40.02	45	60	20	45	$56.15	$60.13	40	6.48x	50.0%	SAFE	10	$7,300	$40,025	OK
ETHA +13C −16P +10P	$14.54	13	16	10	0	$17.33	$18.21	6	2.39x	31.2%	SAFE	50	$21,650	$72,700	OK
GLD +320C −450P +330P −377C	$371.46	320	450	330	377	$456.00	$476.42	120	1.88x	11.2%	SAFE	10	$136,000	$371,460	OK
GLXY +38C −38P +18P	$23.95	38	38	18	0	$39.71	$33.84	20	10.05x	26.9%	SAFE	125	$27,625	$299,375	OK
GOOG (Neville) +300C −345P +310P −370C	$354.55	300	345	310	370	$373.00	$340.81	35	1.48x	12.6%	SAFE	15	$109,500	$531,825	OK
GOOG (Neville) +340C −405P +360P −370C	$354.55	340	405	360	370	$398.00	$379.27	45	1.88x	-1.5%	ITM	5	$25,500	$177,275	OK
HIMS +10C −20P +5P	$32.87	10	20	5	0	$17.47	$19.34	15	4.04x	84.8%	SAFE	15	$7,395	$49,305	OK
INTC +85C −100P +35P −116C	$101.18	85	100	35	116	$114.00	$120.80	65	3.24x	65.4%	SAFE	5	$14,500	$50,590	OK
IREN (Neville) +45C −65P +21P −55C	$42.17	45	65	21	55	$56.50	$61.48	44	15.67x	50.2%	SAFE	20	$6,000	$84,340	OK
IREN (RetireInc) +50C −70P +23P −55C	$42.17	50	70	23	55	$63.43	$69.50	47	7.86x	45.5%	SAFE	20	$13,700	$84,340	OK
MARA (Joint) +20C −17P +10P	$11.82	20	17	10	0	$24.33	$19.72	7	2.62x	15.4%	SAFE	50	$21,650	$59,100	OK
MARA (Main) +20C −25P +15P	$11.82	20	25	15	0	$22.69	$18.50	10	27.32x	-26.9%	ITM	200	$7,600	$236,400	OK
MARA (Neville) +25C −15P +13P	$11.82	25	15	13	0	$26.40	$14.68	2	2.43x	-10.0%	ITM	250	$35,000	$295,500	OK
MDB +270C −340P +150P −350C	$322.23	270	340	150	350	$362.90	$377.45	190	3.05x	53.4%	SAFE	1	$9,290	$32,223	OK
META +480C −650P +330P −630C	$646.10	480	650	330	630	$601.50	$605.06	320	5.38x	48.9%	SAFE	3	$21,900	$193,830	OK
MSTR (RetireInc) +125C −185P +55P −105C	$99.33	125	185	55	105	$161.00	$169.24	130	11.83x	44.6%	SAFE	4	$4,800	$39,732	OK
MU (Main) +880C −1010P +320P −1050C	$902.51	880	1010	320	1050	$1028.60	$1097.36	690	5.64x	64.5%	SAFE	5	$74,300	$451,255	OK
MU (Neville) +970C −1110P +370P −1040C	$902.51	970	1110	370	1040	$1220.00	$1286.80	740	3.96x	59.0%	SAFE	2	$50,000	$180,502	OK
NEM +88C −105P +75P −97C	$90.83	88	105	75	97	$114.54	$118.74	30	2.11x	17.4%	SAFE	5	$13,520	$45,412	OK
NOW +80C −110P +90P	$104.20	80	110	90	0	$108.93	$112.23	20	1.72x	13.6%	SAFE	10	$27,850	$104,200	OK
NVDA +140C −175P +70P −212C	$204.56	140	175	70	212	$199.60	$204.39	105	2.76x	65.8%	SAFE	5	$29,800	$102,278	OK
QCOM +190C −210P +90P −180C	$173.69	190	210	90	180	$224.00	$232.29	120	4.53x	48.2%	SAFE	5	$17,000	$86,842	OK
RIOT +17C −40P +17P	$20.22	17	40	17	0	$23.65	$31.37	23	8.14x	15.9%	SAFE	50	$16,100	$101,100	OK
RKLB +115C −135P +45P −75C	$66.85	115	135	45	75	$141.55	$150.15	90	4.39x	32.7%	SAFE	6	$15,930	$40,110	OK
SPCX +150C −195P +135P −134C	$121.20	150	195	135	134	$186.00	$184.66	60	3.22x	-11.4%	ITM	5	$13,500	$60,600	OK
UAMY +10C −12P +8P	$5.37	10	12	8	0	$12.45	$13.10	5	3.08x	-39.7%	ITM	25	$6,000	$13,425	OK

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

Stock: $42.17 HP: 17.0% OTM Current hedge: $59,994/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $118,108/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 4 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	33	Oct 16	87d	21.7%	$6.65	$-0.15	$-300	$55,799	$94,397	$4,195	14	$4,000	11mo	0mo	1.88x	PASS
2	32	Oct 16	87d	24.1%	$5.90	$0.60	$1,200	$49,506	$82,649	$10,489	15	$6,000	7mo	1mo	1.94x	PASS
3	31	Oct 16	87d	26.5%	$5.25	$1.25	$2,500	$44,052	$78,454	$15,943	16	$8,000	6mo	1mo	2.00x	PASS
4	30	Oct 16	87d	28.9%	$5.50	$1.00	$2,000	$46,149	$76,776	$13,845	17	$10,000	9mo	1mo	2.06x	PASS
5	34	Oct 16	87d	19.4%	$7.15	$-0.65	$-1,300	$59,994	$101,109	$0	13	$2,000	N/A	0mo	1.81x	FAIL

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $2.01	$46,684/yr	$55,799/yr	DEFICIT $760/mo
CC at MID $50 0.5σ, B $3.00	$69,677/yr	$55,799/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $42.17 → $33.74, hedge $94,397/yr)
CC at SS vs stressed	$46,684/yr	$94,397/yr	DEFICIT $3,976/mo
CC at MID vs stressed	$69,677/yr	$94,397/yr	DEFICIT $2,060/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $3.00) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$2,060/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	33	Oct 16	87d	21.7%	$6.65	$-0.15	$-300	$55,799	$94,397	$4,195	14	$4,000	11mo	0mo	1.88x	PASS
2	32	Oct 16	87d	24.1%	$5.90	$0.60	$1,200	$49,506	$82,649	$10,489	15	$6,000	7mo	1mo	1.94x	PASS
3	31	Oct 16	87d	26.5%	$5.25	$1.25	$2,500	$44,052	$78,454	$15,943	16	$8,000	6mo	1mo	2.00x	PASS
4	30	Oct 16	87d	28.9%	$5.50	$1.00	$2,000	$46,149	$76,776	$13,845	17	$10,000	9mo	1mo	2.06x	PASS
5	34	Oct 16	87d	19.4%	$7.15	$-0.65	$-1,300	$59,994	$101,109	$0	13	$2,000	N/A	0mo	1.81x	FAIL

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $2.01	$46,684/yr	$55,799/yr	DEFICIT $760/mo
CC at MID $50 0.5σ, B $3.00	$69,677/yr	$55,799/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $42.17 → $33.74, hedge $94,397/yr)
CC at SS vs stressed	$46,684/yr	$94,397/yr	DEFICIT $3,976/mo
CC at MID vs stressed	$69,677/yr	$94,397/yr	DEFICIT $2,060/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $3.00) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$2,060/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: $16.87 Current HP: 10P (31d, 40.7% OTM) Current hedge: $5,887/yr Current ML: $71,250 CC income: $65,000/yr Cost cap: 25% of CC = $16,250/yr IV: HIGH 3 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 122d, 40.7% OTM) | Cost: $9,873/yr (15% of CC) | New ML: $71,250 = ML | Roll DEBIT $3,000 | Margin: n/a (RTH)

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 11P (Nov 20 '26, 122d, 34.8% OTM) | Cost: $12,865/yr (20% of CC) | New ML: $66,250 ↓ $5,000 | Roll DEBIT $4,000 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	122d	40.7%	$0.52	$0.66	$9,873	15%	$71,250	=	D $3,000
2	10	Jan 15	178d	40.7%	$0.86	$0.99	$10,150	16%	$71,250	=	D $4,650
▶ 3	11 PROT	Nov 20	122d	34.8%	$0.74	$0.86	$12,865	20%	$66,250	-$5,000	D $4,000

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.59	$34,258/yr	$9,873/yr	SELF-FUNDING
CC at MID $20 0.6σ, B $0.59	$34,258/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 $0.59). 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).