Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$114,259/yr

TOTAL HEDGE (REPAIRED)

$77,562/yr

ANNUAL SAVINGS

$36,697/yr

ROLL CREDITS

$125

ADDITIONAL MAX LOSS

$13,250

PORTFOLIO ACTION SUMMARY · 47 positions

3 · 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
IREN (Main) → +25C −47P +35P −55C	$41.90	25	47	35	55	$44.00	$48.81	12	1.75x	16.5%	SAFE	20	$32,000	$83,800	REPAIR PLAN (85d)
NOW → +80C −110P +90P	$94.47	80	110	90	0	$108.93	$113.73	20	1.72x	4.7%	TIGHT	10	$27,850	$94,465	REPAIR PLAN (85d)
UAMY → +10C −12P +8P −7C	$5.71	10	12	8	7	$12.45	$13.01	5	3.08x	-31.4%	ITM	25	$6,000	$14,274	REPAIR PLAN (120d)
GOOG (Joint) +310C −370C	$321.71	310	0	0	370	$392.50	$341.43	0	1.00x	0.0%	N/A	5	$41,250	$160,855	LEAPS-ONLY
IBIT +75C	$36.77	75	0	0	0	$70.58	$48.38	0	1.00x	0.0%	N/A	50	$22,328	$183,875	LEAPS-ONLY
IGV +70C −94C	$88.10	70	0	0	94	$96.50	$86.56	0	1.00x	0.0%	N/A	12	$31,800	$105,720	LEAPS-ONLY
MARA (Main) +40C	$12.49	40	0	0	0	$40.55	$15.18	0	1.00x	0.0%	N/A	200	$11,000	$249,800	LEAPS-ONLY
MSTR (Joint) +180C −125C	$95.75	180	0	0	125	$233.00	$148.41	0	1.00x	0.0%	N/A	10	$53,000	$95,745	LEAPS-ONLY
SPY +640C −758C	$741.33	640	0	0	758	$764.00	$692.69	0	1.00x	0.0%	N/A	12	$148,800	$889,590	LEAPS-ONLY
AMZN +215C −260P +230P −265C	$237.34	215	260	230	265	$256.25	$241.56	30	1.80x	3.1%	TIGHT	10	$37,500	$237,335	OK
APP +460C −540P +185P −465C	$404.40	460	540	185	465	$588.00	$602.52	355	3.77x	54.3%	SAFE	1	$12,800	$40,440	OK
BMNR (Joint) +23C −65P +25P −20C	$17.58	23	65	25	20	$30.29	$8.79	40	0.00x	-42.2%	ITM	150	$0	$263,702	OK
BMNR (Main) +25C −45P +15P −20C	$17.58	25	45	15	20	$44.46	$52.53	30	2.59x	14.7%	SAFE	50	$94,550	$87,901	OK
BMNR (Main) +23C −65P +25P −20C	$17.58	23	65	25	20	$39.13	$8.79	40	0.00x	-42.2%	ITM	75	$0	$131,851	OK
BMNR (RetireInc) +10C −18P +10P −20C	$17.58	10	18	10	20	$17.13	$19.38	8	2.28x	43.1%	SAFE	50	$31,250	$87,901	OK
CLSK +17C −17P +10P	$15.28	17	17	10	0	$20.74	$17.30	7	2.87x	34.6%	SAFE	25	$9,350	$38,200	OK
COIN (Main) +165C −240P +85P −210C	$162.14	165	240	85	210	$210.90	$215.91	155	10.23x	47.6%	SAFE	8	$13,440	$129,715	OK
COIN (Main) +500C −330P +300P −210C	$162.14	500	330	300	210	$563.00	$333.75	30	1.48x	-85.0%	ITM	25	$157,500	$405,360	OK
COIN (RetireInc) +145C −200P +75P −215C	$162.14	145	200	75	215	$182.40	$188.20	125	7.31x	53.7%	SAFE	3	$5,940	$48,643	OK
COPX +65C −90P +68P −85C	$79.08	65	90	68	85	$93.40	$94.50	22	1.77x	14.0%	SAFE	20	$56,800	$158,150	OK
CRWV +105C −120P +40P −97C	$82.19	105	120	40	97	$125.45	$128.76	80	4.91x	51.3%	SAFE	5	$10,225	$41,095	OK
DELL +340C −390P +150P −475C	$441.47	340	390	150	475	$398.00	$408.12	240	5.14x	66.0%	SAFE	3	$17,400	$132,440	OK
ENPH +45C −60P +20P	$39.11	45	60	20	0	$56.15	$58.98	40	6.48x	48.9%	SAFE	10	$7,300	$39,109	OK
ETHA +13C −16P +10P	$14.34	13	16	10	0	$17.33	$17.98	6	2.39x	30.2%	SAFE	50	$21,650	$71,675	OK
GLD +320C −450P +330P −390C	$372.11	320	450	330	390	$456.00	$471.60	120	1.88x	11.3%	SAFE	10	$136,000	$372,105	OK
GLXY +38C −38P +18P	$24.68	38	38	18	0	$39.71	$32.64	20	10.05x	29.1%	SAFE	125	$27,625	$308,488	OK
GOOG (Neville) +300C −345P +310P −370C	$321.71	300	345	310	370	$373.00	$340.46	35	1.48x	3.6%	TIGHT	15	$109,500	$482,565	OK
GOOG (Neville) +340C −405P +360P −370C	$321.71	340	405	360	370	$398.00	$378.74	45	1.88x	-11.9%	ITM	5	$25,500	$160,855	OK
HIMS +10C −20P +5P −40C	$31.54	10	20	5	40	$17.47	$19.75	15	4.04x	84.1%	SAFE	15	$7,395	$47,312	OK
INTC +85C −100P +35P −116C	$102.05	85	100	35	116	$114.00	$117.46	65	3.24x	65.7%	SAFE	5	$14,500	$51,025	OK
IREN (Joint) +25C −47P +35P −51C	$41.90	25	47	35	51	$44.00	$48.81	12	1.75x	16.5%	SAFE	20	$32,000	$83,800	OK
IREN (Neville) +45C −65P +21P −55C	$41.90	45	65	21	55	$56.50	$58.84	44	15.67x	49.9%	SAFE	20	$6,000	$83,800	OK
IREN (RetireInc) +50C −70P +23P −55C	$41.90	50	70	23	55	$63.43	$67.76	47	7.86x	45.1%	SAFE	20	$13,700	$83,800	OK
MARA (Joint) +20C −17P +10P	$12.49	20	17	10	0	$24.33	$19.45	7	2.62x	19.9%	SAFE	50	$21,650	$62,450	OK
MARA (Main) +20C −25P +15P	$12.49	20	25	15	0	$22.69	$18.38	10	27.32x	-20.1%	ITM	200	$7,600	$249,800	OK
MARA (Neville) +25C −15P +13P	$12.49	25	15	13	0	$26.40	$14.92	2	2.43x	-4.1%	ITM	250	$35,000	$312,250	OK
MDB +270C −340P +150P −325C	$302.51	270	340	150	325	$362.90	$378.42	190	3.05x	50.4%	SAFE	1	$9,290	$30,251	OK
META +480C −650P +330P −660C	$607.70	480	650	330	660	$601.50	$606.39	320	5.38x	45.7%	SAFE	3	$21,900	$182,310	OK
MSTR (RetireInc) +125C −185P +55P −130C	$95.75	125	185	55	130	$161.00	$167.70	130	11.83x	42.6%	SAFE	4	$4,800	$38,298	OK
MU (Main) +880C −1010P +320P −1050C	$986.32	880	1010	320	1050	$1028.60	$1053.05	690	5.64x	67.6%	SAFE	5	$74,300	$493,160	OK
MU (Neville) +970C −1110P +370P −1040C	$986.32	970	1110	370	1040	$1220.00	$1243.54	740	3.96x	62.5%	SAFE	2	$50,000	$197,264	OK
NEM +88C −105P +75P −106C	$93.89	88	105	75	106	$114.54	$118.42	30	2.11x	20.1%	SAFE	5	$13,520	$46,945	OK
NVDA +140C −175P +70P −220C	$208.67	140	175	70	220	$199.60	$202.18	105	2.76x	66.5%	SAFE	5	$29,800	$104,335	OK
QCOM +190C −210P +90P −208C	$172.77	190	210	90	208	$224.00	$229.15	120	4.53x	47.9%	SAFE	5	$17,000	$86,385	OK
RIOT +17C −40P +17P	$24.26	17	40	17	0	$23.65	$34.24	23	4.17x	29.9%	SAFE	50	$36,300	$121,300	OK
RKLB +115C −135P +45P −83C	$68.92	115	135	45	83	$141.55	$149.25	90	4.39x	34.7%	SAFE	6	$15,930	$41,352	OK
SPCX +150C −195P +135P −165C	$115.72	150	195	135	165	$186.00	$182.58	60	3.22x	-16.7%	ITM	5	$13,500	$57,860	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 85d

Stock: $41.90 HP: 16.5% OTM Current hedge: $56,682/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $161,595/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 10 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	Nov 20	120d	18.9%	$7.30	$-1.25	$-2,500	$44,408	$72,087	$12,274	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	85d	18.9%	$5.90	$0.15	$300	$50,671	$88,459	$6,012	13	$2,000	4mo	0mo	1.81x	PASS
3	33	Nov 20	120d	21.2%	$7.00	$-0.95	$-1,900	$42,583	$69,046	$14,099	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	85d	21.2%	$5.70	$0.35	$700	$48,953	$84,165	$7,729	14	$4,000	6mo	0mo	1.88x	PASS
5	32	Nov 20	120d	23.6%	$6.50	$-0.45	$-900	$39,542	$64,179	$17,141	15	$6,000	4mo	0mo	1.94x	PASS
6	32	Oct 16	85d	23.6%	$5.25	$0.80	$1,600	$45,088	$76,006	$11,594	15	$6,000	6mo	0mo	1.94x	PASS
7	31	Nov 20	120d	26.0%	$6.05	$0.00	$0	$36,804	$61,746	$19,878	16	$8,000	5mo	1mo	2.00x	PASS
8	31	Oct 16	85d	26.0%	$4.85	$1.20	$2,400	$41,653	$74,288	$15,029	16	$8,000	6mo	1mo	2.00x	PASS
9	30	Nov 20	120d	28.4%	$5.40	$0.65	$1,300	$32,850	$54,750	$23,832	17	$10,000	5mo	1mo	2.06x	PASS
10	30	Oct 16	85d	28.4%	$4.20	$1.85	$3,700	$36,071	$65,271	$20,612	17	$10,000	6mo	1mo	2.06x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $3.25	$65,000/yr	$44,408/yr	SELF-FUNDING
CC at MID $53 0.7σ, B $2.20	$44,000/yr	$44,408/yr	DEFICIT $34/mo
AT 20% DRAWDOWN (stock $41.90 → $33.52, hedge $72,087/yr)
CC at SS vs stressed	$65,000/yr	$72,087/yr	DEFICIT $591/mo
CC at MID vs stressed	$44,000/yr	$72,087/yr	DEFICIT $2,341/mo

SUSTAINABLE AT SS Conservative CC covers repaired hedge

CC WRITING STRATEGY

WRITE CCs at SS ($49, bid $3.25). Hedge is light enough that conservative CCs cover it. Stress case unmodelled or insufficient data.

NOW: HP 90P Roll-Down · exp Oct 16 '26, 85d

Stock: $94.47 HP: 4.7% OTM Current hedge: $36,285/yr SS: $108.93 (unchanged) Shares: 1,000 CC income: $64,559/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 8 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	85	Nov 20	120d	10.0%	$8.15	$-1.00	$-1,000	$24,790	$27,725	$11,496	25	$5,000	5mo	1mo	1.90x	PASS
2	85	Oct 16	85d	10.0%	$5.85	$1.30	$1,300	$25,121	$29,694	$11,165	25	$5,000	5mo	1mo	1.90x	PASS
3	80	Oct 16	85d	15.3%	$4.40	$2.75	$2,750	$18,894	$36,564	$17,391	30	$10,000	7mo	1mo	2.08x	PASS
4	80	Nov 20	120d	15.3%	$6.40	$0.75	$750	$19,467	$33,048	$16,819	30	$10,000	7mo	1mo	2.08x	PASS
5	75	Oct 16	85d	20.6%	$3.00	$4.15	$4,150	$12,882	$45,367	$23,403	35	$15,000	8mo	2mo	2.26x	PASS
6	75	Nov 20	120d	20.6%	$4.65	$2.50	$2,500	$14,144	$37,762	$22,142	35	$15,000	8mo	2mo	2.26x	PASS
7	70	Oct 16	85d	25.9%	$2.07	$5.08	$5,080	$8,889	$25,121	$27,396	40	$20,000	9mo	3mo	2.44x	PASS
8	70	Nov 20	120d	25.9%	$3.40	$3.75	$3,750	$10,342	$24,790	$25,944	40	$20,000	9mo	3mo	2.44x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $112, B $1.45	$14,500/yr	$24,790/yr	DEFICIT $857/mo
CC at MID $106 0.7σ, B $3.20	$32,000/yr	$24,790/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $94.47 → $75.57, hedge $27,725/yr)
CC at SS vs stressed	$14,500/yr	$27,725/yr	DEFICIT $1,102/mo
CC at MID vs stressed	$32,000/yr	$27,725/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($106, bid $3.20). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

UAMY: HP 8P Roll-Down · exp Nov 20 '26, 120d

Stock: $5.71 HP: ITM Current hedge: $21,292/yr SS: $12.45 (unchanged) Shares: 2,500 CC income: $17,379/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 1 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	5	Nov 20	120d	12.4%	$1.10	$1.45	$3,625	$8,365	$8,365	$12,927	8	$6,250	6mo	2mo	4.12x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $10, B $0.05	$1,250/yr	$8,365/yr	DEFICIT $593/mo
CC at MID $7 0.6σ, B $0.20	$5,000/yr	$8,365/yr	DEFICIT $280/mo
AT 20% DRAWDOWN (stock $5.71 → $4.57, hedge $8,365/yr)
CC at SS vs stressed	$1,250/yr	$8,365/yr	DEFICIT $593/mo
CC at MID vs stressed	$5,000/yr	$8,365/yr	DEFICIT $280/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).