Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$109,080/yr

TOTAL HEDGE (REPAIRED)

$101,529/yr

ANNUAL SAVINGS

$7,552/yr

ROLL CREDITS

$800

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	$16.71	10	18	10	0	$17.13	$19.79	8	2.28x	40.1%	SAFE	50	$31,250	$83,540	ROLL NOW (31d)
IREN (Joint) → +25C −47P +35P −55C	$41.20	25	47	35	55	$44.00	$49.32	12	1.75x	15.0%	SAFE	20	$32,000	$82,390	REPAIR PLAN (87d)
IREN (Main) → +25C −47P +35P −55C	$41.20	25	47	35	55	$44.00	$49.32	12	1.75x	15.0%	SAFE	20	$32,000	$82,390	REPAIR PLAN (87d)
GOOG (Joint) +310C −370C	$348.78	310	0	0	370	$392.50	$339.85	0	1.00x	0.0%	N/A	5	$41,250	$174,390	LEAPS-ONLY
IBIT +75C	$37.60	75	0	0	0	$70.58	$48.55	0	1.00x	0.0%	N/A	50	$22,328	$188,025	LEAPS-ONLY
IGV +70C −96C	$92.64	70	0	0	96	$96.50	$87.16	0	1.00x	0.0%	N/A	12	$31,800	$111,168	LEAPS-ONLY
MARA (Main) +40C	$11.93	40	0	0	0	$40.55	$14.71	0	1.00x	0.0%	N/A	200	$11,000	$238,600	LEAPS-ONLY
MSTR (Joint) +180C −105C	$101.40	180	0	0	105	$233.00	$150.78	0	1.00x	0.0%	N/A	10	$53,000	$101,400	LEAPS-ONLY
SPY +640C −758C	$744.76	640	0	0	758	$764.00	$695.43	0	1.00x	0.0%	N/A	12	$148,800	$893,718	LEAPS-ONLY
AMZN +215C −260P +230P −280C	$247.85	215	260	230	280	$256.25	$240.01	30	1.80x	7.2%	OK	10	$37,500	$247,850	OK
APP +460C −540P +185P −480C	$429.25	460	540	185	480	$588.00	$606.24	355	3.77x	56.9%	SAFE	1	$12,800	$42,925	OK
BMNR (Joint) +23C −65P +25P	$16.71	23	65	25	0	$30.29	$8.35	40	0.00x	-49.6%	ITM	150	$0	$250,620	OK
BMNR (Main) +25C −45P +15P	$16.71	25	45	15	0	$44.46	—	30	2.59x	10.2%	SAFE	50	$94,550	$83,540	OK
BMNR (Main) +23C −65P +25P	$16.71	23	65	25	0	$39.13	$8.35	40	0.00x	-49.6%	ITM	75	$0	$125,310	OK
CLSK +17C −17P +10P	$14.73	17	17	10	0	$20.74	$17.14	7	2.87x	32.1%	SAFE	25	$9,350	$36,825	OK
COIN (Main) +165C −240P +85P −180C	$174.20	165	240	85	180	$210.90	$218.72	155	10.23x	51.2%	SAFE	8	$13,440	$139,360	OK
COIN (Main) +500C −330P +300P −180C	$174.20	500	330	300	180	$563.00	$334.75	30	1.48x	-72.2%	ITM	25	$157,500	$435,500	OK
COIN (RetireInc) +145C −200P +75P −190C	$174.20	145	200	75	190	$182.40	$189.78	125	7.31x	56.9%	SAFE	3	$5,940	$52,260	OK
COPX +65C −90P +68P	$76.21	65	90	68	0	$93.40	$95.00	22	1.77x	10.8%	SAFE	20	$56,800	$152,420	OK
CRWV +105C −120P +40P −84C	$75.84	105	120	40	84	$125.45	$129.02	80	4.91x	47.3%	SAFE	5	$10,225	$37,920	OK
DELL +340C −390P +150P −420C	$404.50	340	390	150	420	$398.00	$410.23	240	5.14x	62.9%	SAFE	3	$17,400	$121,350	OK
ENPH +45C −60P +20P −45C	$39.88	45	60	20	45	$56.15	$60.14	40	6.48x	49.8%	SAFE	10	$7,300	$39,880	OK
ETHA +13C −16P +10P	$14.55	13	16	10	0	$17.33	$17.88	6	2.39x	31.3%	SAFE	50	$21,650	$72,775	OK
GLD +320C −450P +330P −377C	$371.23	320	450	330	377	$456.00	$471.99	120	1.88x	11.1%	SAFE	10	$136,000	$371,230	OK
GLXY +38C −38P +18P	$24.88	38	38	18	0	$39.71	$33.85	20	10.05x	29.7%	SAFE	125	$27,625	$311,000	OK
GOOG (Neville) +300C −345P +310P −370C	$348.78	300	345	310	370	$373.00	$337.15	35	1.48x	11.1%	SAFE	15	$109,500	$523,170	OK
GOOG (Neville) +340C −405P +360P −370C	$348.78	340	405	360	370	$398.00	$377.72	45	1.88x	-3.2%	ITM	5	$25,500	$174,390	OK
HIMS +10C −20P +5P	$33.43	10	20	5	0	$17.47	$19.96	15	4.04x	85.0%	SAFE	15	$7,395	$50,145	OK
INTC +85C −100P +35P −116C	$102.69	85	100	35	116	$114.00	$115.91	65	3.24x	65.9%	SAFE	5	$14,500	$51,342	OK
IREN (Neville) +45C −65P +21P −55C	$41.20	45	65	21	55	$56.50	$59.17	44	15.67x	49.0%	SAFE	20	$6,000	$82,390	OK
IREN (RetireInc) +50C −70P +23P −55C	$41.20	50	70	23	55	$63.43	$68.02	47	7.86x	44.2%	SAFE	20	$13,700	$82,390	OK
MARA (Joint) +20C −17P +10P	$11.93	20	17	10	0	$24.33	$19.10	7	2.62x	16.2%	SAFE	50	$21,650	$59,650	OK
MARA (Main) +20C −25P +15P	$11.93	20	25	15	0	$22.69	$18.22	10	27.32x	-25.7%	ITM	200	$7,600	$238,600	OK
MARA (Neville) +25C −15P +13P	$11.93	25	15	13	0	$26.40	$14.60	2	2.43x	-9.0%	ITM	250	$35,000	$298,250	OK
MDB +270C −340P +150P −350C	$326.69	270	340	150	350	$362.90	$384.49	190	3.05x	54.1%	SAFE	1	$9,290	$32,669	OK
META +480C −650P +330P −630C	$648.39	480	650	330	630	$601.50	$604.51	320	5.38x	49.1%	SAFE	3	$21,900	$194,517	OK
MSTR (RetireInc) +125C −185P +55P −105C	$101.40	125	185	55	105	$161.00	$168.40	130	11.83x	45.8%	SAFE	4	$4,800	$40,560	OK
MU (Main) +880C −1010P +320P −1050C	$932.41	880	1010	320	1050	$1028.60	$1053.71	690	5.64x	65.7%	SAFE	5	$74,300	$466,205	OK
MU (Neville) +970C −1110P +370P −1040C	$932.41	970	1110	370	1040	$1220.00	$1243.87	740	3.96x	60.3%	SAFE	2	$50,000	$186,482	OK
NEM +88C −105P +75P −97C	$90.86	88	105	75	97	$114.54	$116.73	30	2.11x	17.5%	SAFE	5	$13,520	$45,428	OK
NOW +80C −110P +90P	$104.17	80	110	90	0	$108.93	$113.10	20	1.72x	13.6%	SAFE	10	$27,850	$104,175	OK
NVDA +140C −175P +70P −212C	$206.99	140	175	70	212	$199.60	$202.58	105	2.76x	66.2%	SAFE	5	$29,800	$103,495	OK
QCOM +190C −210P +90P −180C	$170.91	190	210	90	180	$224.00	$227.77	120	4.53x	47.3%	SAFE	5	$17,000	$85,458	OK
RIOT +17C −40P +17P	$20.26	17	40	17	0	$23.65	$30.99	23	8.06x	16.1%	SAFE	50	$16,300	$101,300	OK
RKLB +115C −135P +45P −75C	$66.43	115	135	45	75	$141.55	$148.13	90	4.39x	32.3%	SAFE	6	$15,930	$39,858	OK
SPCX +150C −195P +135P −134C	$123.03	150	195	135	134	$186.00	$184.28	60	3.22x	-9.7%	ITM	5	$13,500	$61,515	OK
UAMY +10C −12P +8P	$5.52	10	12	8	0	$12.45	$13.07	5	3.08x	-35.9%	ITM	25	$6,000	$13,800	OK

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

Stock: $41.20 HP: 15.0% OTM Current hedge: $54,540/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $137,378/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 6 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	17.5%	$6.05	$0.20	$400	$50,764	$80,510	$3,776	13	$2,000	6mo	0mo	1.81x	PASS
2	33	Oct 16	87d	19.9%	$5.70	$0.55	$1,100	$47,828	$81,810	$6,713	14	$4,000	7mo	0mo	1.88x	PASS
3	32	Oct 16	87d	22.3%	$5.20	$1.05	$2,100	$43,632	$78,454	$10,908	15	$6,000	7mo	0mo	1.94x	PASS
4	31	Oct 16	87d	24.7%	$4.80	$1.45	$2,900	$40,276	$72,580	$14,264	16	$8,000	7mo	1mo	2.00x	PASS
5	30	Oct 16	87d	27.2%	$4.45	$1.80	$3,600	$37,339	$63,351	$17,201	17	$10,000	7mo	1mo	2.06x	PASS
6	29	Oct 16	87d	29.6%	$4.00	$2.25	$4,500	$33,563	$59,155	$20,977	18	$12,000	7mo	1mo	2.12x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $3.10	$72,000/yr	$50,764/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $3.10	$72,000/yr	$50,764/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $41.20 → $32.96, hedge $80,510/yr)
CC at SS vs stressed	$72,000/yr	$80,510/yr	DEFICIT $709/mo
CC at MID vs stressed	$72,000/yr	$80,510/yr	DEFICIT $709/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $3.10) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$709/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	17.5%	$6.05	$0.20	$400	$50,764	$80,510	$3,776	13	$2,000	6mo	0mo	1.81x	PASS
2	33	Oct 16	87d	19.9%	$5.70	$0.55	$1,100	$47,828	$81,810	$6,713	14	$4,000	7mo	0mo	1.88x	PASS
3	32	Oct 16	87d	22.3%	$5.20	$1.05	$2,100	$43,632	$78,454	$10,908	15	$6,000	7mo	0mo	1.94x	PASS
4	31	Oct 16	87d	24.7%	$4.80	$1.45	$2,900	$40,276	$72,580	$14,264	16	$8,000	7mo	1mo	2.00x	PASS
5	30	Oct 16	87d	27.2%	$4.45	$1.80	$3,600	$37,339	$63,351	$17,201	17	$10,000	7mo	1mo	2.06x	PASS
6	29	Oct 16	87d	29.6%	$4.00	$2.25	$4,500	$33,563	$59,155	$20,977	18	$12,000	7mo	1mo	2.12x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $3.10	$72,000/yr	$50,764/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $3.10	$72,000/yr	$50,764/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $41.20 → $32.96, hedge $80,510/yr)
CC at SS vs stressed	$72,000/yr	$80,510/yr	DEFICIT $709/mo
CC at MID vs stressed	$72,000/yr	$80,510/yr	DEFICIT $709/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $3.10) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$709/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: $16.71 Current HP: 10P (31d, 40.1% OTM) Current hedge: $5,887/yr Current ML: $71,250 CC income: $66,574/yr Cost cap: 25% of CC = $16,643/yr IV: HIGH 5 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Nov 20 '26, 122d, 40.1% OTM) | Cost: $8,826/yr (13% of CC) | New ML: $71,250 = ML | Roll DEBIT $2,800 | Margin (TIMS): $981

PROTECTIVE PICK (lowest ML within cost cap): HP 10 → 12P (Jan 15 '27, 178d, 28.2% OTM) | Cost: $15,789/yr (24% of CC) | New ML: $61,250 ↓ $10,000 | Roll DEBIT $7,550 | Margin (TIMS): $879

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP	Nov 20	122d	40.1%	$0.44	$0.59	$8,826	13%	$71,250	=	D $2,800
2	10	Jan 15	178d	40.1%	$0.73	$0.93	$9,535	14%	$71,250	=	D $4,500
3	11	Nov 20	122d	34.2%	$0.70	$0.83	$12,416	19%	$66,250	-$5,000	D $4,000
▶ 4	12 PROT	Jan 15	178d	28.2%	$1.32	$1.54	$15,789	24%	$61,250	-$10,000	D $7,550
5	12	Nov 20	122d	28.2%	$0.90	$1.10	$16,455	25%	$61,250	-$10,000	D $5,350

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.58	$33,677/yr	$8,826/yr	SELF-FUNDING
CC at MID $20 0.7σ, B $0.58	$33,677/yr	$8,826/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($20, bid $0.58). 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).