Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$116,146/yr

TOTAL HEDGE (REPAIRED)

$79,748/yr

ANNUAL SAVINGS

$36,398/yr

ROLL CREDITS

$1,450

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	$41.03	25	47	35	55	$44.00	$48.68	12	1.75x	14.7%	SAFE	20	$32,000	$82,060	REPAIR PLAN (84d)
NOW → +80C −110P +90P	$92.42	80	110	90	0	$108.93	$113.98	20	1.72x	2.6%	TIGHT	10	$27,850	$92,420	REPAIR PLAN (84d)
UAMY → +10C −12P +8P −7C	$5.54	10	12	8	7	$12.45	$12.92	5	3.08x	-35.3%	ITM	25	$6,000	$13,862	REPAIR PLAN (119d)
GOOG (Joint) +310C	$318.60	310	0	0	0	$392.50	$340.59	0	1.00x	0.0%	N/A	5	$41,250	$159,300	LEAPS-ONLY
IBIT +75C	$36.71	75	0	0	0	$70.58	$48.62	0	1.00x	0.0%	N/A	50	$22,328	$183,550	LEAPS-ONLY
IGV +70C −94C	$87.23	70	0	0	94	$96.50	$87.06	0	1.00x	0.0%	N/A	12	$31,800	$104,676	LEAPS-ONLY
MARA (Main) +40C −14C	$12.99	40	0	0	14	$40.55	$15.53	0	1.00x	0.0%	N/A	200	$11,000	$259,900	LEAPS-ONLY
MSTR (Joint) +180C	$94.75	180	0	0	0	$233.00	$152.00	0	1.00x	0.0%	N/A	10	$53,000	$94,745	LEAPS-ONLY
SPY +640C	$737.02	640	0	0	0	$764.00	$693.32	0	1.00x	0.0%	N/A	12	$148,800	$884,424	LEAPS-ONLY
AMZN +215C −260P +230P −255C	$233.05	215	260	230	255	$256.25	$240.74	30	1.80x	1.3%	TIGHT	10	$37,500	$233,050	OK
APP +460C −540P +185P −435C	$398.18	460	540	185	435	$588.00	$606.03	355	3.77x	53.5%	SAFE	1	$12,800	$39,818	OK
BMNR (Joint) +23C −65P +25P −20C	$16.73	23	65	25	20	$30.29	$8.37	40	0.00x	-49.4%	ITM	150	$0	$251,025	OK
BMNR (Main) +25C −45P +15P −20C	$16.73	25	45	15	20	$44.46	—	30	2.59x	10.4%	SAFE	50	$94,550	$83,675	OK
BMNR (Main) +23C −65P +25P −20C	$16.73	23	65	25	20	$39.13	$8.37	40	0.00x	-49.4%	ITM	75	$0	$125,512	OK
BMNR (RetireInc) +10C −18P +10P −20C	$16.73	10	18	10	20	$17.13	$19.60	8	2.28x	40.2%	SAFE	50	$31,250	$83,675	OK
CLSK +17C −17P +10P	$15.69	17	17	10	0	$20.74	$17.24	7	2.87x	36.3%	SAFE	25	$9,350	$39,225	OK
COIN (Main) +165C −240P +85P −210C	$162.12	165	240	85	210	$210.90	$216.04	155	10.23x	47.6%	SAFE	8	$13,440	$129,692	OK
COIN (Main) +500C −330P +300P −210C	$162.12	500	330	300	210	$563.00	$336.61	30	1.48x	-85.1%	ITM	25	$157,500	$405,288	OK
COIN (RetireInc) +145C −200P +75P −195C	$162.12	145	200	75	195	$182.40	$188.47	125	7.31x	53.7%	SAFE	3	$5,940	$48,634	OK
COPX +65C −90P +68P −85C	$77.92	65	90	68	85	$93.40	$94.63	22	1.77x	12.7%	SAFE	20	$56,800	$155,840	OK
CRWV +105C −120P +40P −97C	$81.37	105	120	40	97	$125.45	$128.89	80	4.91x	50.8%	SAFE	5	$10,225	$40,685	OK
DELL +340C −390P +150P −475C	$436.67	340	390	150	475	$398.00	$407.44	240	5.14x	65.6%	SAFE	3	$17,400	$131,001	OK
ENPH +45C −60P +20P	$38.74	45	60	20	0	$56.15	$58.99	40	6.48x	48.4%	SAFE	10	$7,300	$38,740	OK
ETHA +13C −16P +10P	$14.18	13	16	10	0	$17.33	$17.88	6	2.39x	29.5%	SAFE	50	$21,650	$70,900	OK
GLD +320C −450P +330P −390C	$371.29	320	450	330	390	$456.00	$471.46	120	1.88x	11.1%	SAFE	10	$136,000	$371,290	OK
GLXY +38C −38P +18P	$24.41	38	38	18	0	$39.71	$32.76	20	10.05x	28.3%	SAFE	125	$27,625	$305,062	OK
GOOG (Neville) +300C −345P +310P	$318.60	300	345	310	0	$373.00	$339.69	35	1.48x	2.7%	TIGHT	15	$109,500	$477,900	OK
GOOG (Neville) +340C −405P +360P	$318.60	340	405	360	0	$398.00	$377.70	45	1.88x	-13.0%	ITM	5	$25,500	$159,300	OK
HIMS +10C −20P +5P −42C	$32.72	10	20	5	42	$17.47	$19.60	15	4.04x	84.7%	SAFE	15	$7,395	$49,080	OK
INTC +85C −100P +35P	$100.13	85	100	35	0	$114.00	$116.85	65	3.24x	65.0%	SAFE	5	$14,500	$50,065	OK
IREN (Joint) +25C −47P +35P −51C	$41.03	25	47	35	51	$44.00	$48.68	12	1.75x	14.7%	SAFE	20	$32,000	$82,060	OK
IREN (Neville) +45C −65P +21P −55C	$41.03	45	65	21	55	$56.50	$59.24	44	15.67x	48.8%	SAFE	20	$6,000	$82,060	OK
IREN (RetireInc) +50C −70P +23P −55C	$41.03	50	70	23	55	$63.43	$67.14	47	7.86x	43.9%	SAFE	20	$13,700	$82,060	OK
MARA (Joint) +20C −17P +10P −14C	$12.99	20	17	10	14	$24.33	$19.21	7	2.62x	23.0%	SAFE	50	$21,650	$64,975	OK
MARA (Main) +20C −25P +15P −14C	$12.99	20	25	15	14	$22.69	$18.35	10	27.32x	-15.4%	ITM	200	$7,600	$259,900	OK
MARA (Neville) +25C −15P +13P −14C	$12.99	25	15	13	14	$26.40	$14.67	2	2.43x	-0.0%	ITM	250	$35,000	$324,875	OK
MDB +270C −340P +150P −325C	$298.17	270	340	150	325	$362.90	$377.39	190	3.05x	49.7%	SAFE	1	$9,290	$29,817	OK
META +480C −650P +330P −638C	$606.88	480	650	330	638	$601.50	$605.51	320	5.38x	45.6%	SAFE	3	$21,900	$182,064	OK
MSTR (RetireInc) +125C −185P +55P	$94.75	125	185	55	0	$161.00	$168.63	130	11.83x	41.9%	SAFE	4	$4,800	$37,898	OK
MU (Main) +880C −1010P +320P −1050C	$990.54	880	1010	320	1050	$1028.60	$1053.32	690	5.64x	67.7%	SAFE	5	$74,300	$495,268	OK
MU (Neville) +970C −1110P +370P −1125C	$990.54	970	1110	370	1125	$1220.00	$1242.85	740	3.96x	62.6%	SAFE	2	$50,000	$198,107	OK
NEM +88C −105P +75P −106C	$94.42	88	105	75	106	$114.54	$118.71	30	2.11x	20.6%	SAFE	5	$13,520	$47,208	OK
NVDA +140C −175P +70P −220C	$207.46	140	175	70	220	$199.60	$202.37	105	2.76x	66.3%	SAFE	5	$29,800	$103,730	OK
QCOM +190C −210P +90P −208C	$169.46	190	210	90	208	$224.00	$228.65	120	4.53x	46.9%	SAFE	5	$17,000	$84,730	OK
RIOT +17C −40P +17P −30C	$23.88	17	40	17	30	$23.65	$33.44	23	4.35x	28.8%	SAFE	50	$34,375	$119,375	OK
RKLB +115C −135P +45P −83C	$69.59	115	135	45	83	$141.55	$149.00	90	4.39x	35.3%	SAFE	6	$15,930	$41,757	OK
SPCX +150C −195P +135P −165C	$116.42	150	195	135	165	$186.00	$183.74	60	3.22x	-16.0%	ITM	5	$13,500	$58,212	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 84d

Stock: $41.03 HP: 14.7% OTM Current hedge: $56,488/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $126,964/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 12 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	119d	17.1%	$7.35	$-1.20	$-2,400	$45,088	$67,356	$11,400	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	84d	17.1%	$6.00	$0.15	$300	$52,143	$80,648	$4,345	13	$2,000	6mo	0mo	1.81x	PASS
3	33	Nov 20	119d	19.6%	$6.90	$-0.75	$-1,500	$42,328	$69,013	$14,160	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	84d	19.6%	$5.70	$0.45	$900	$49,536	$84,732	$6,952	14	$4,000	7mo	0mo	1.88x	PASS
5	32	Nov 20	119d	22.0%	$6.40	$-0.25	$-500	$39,261	$65,025	$17,228	15	$6,000	4mo	0mo	1.94x	PASS
6	32	Oct 16	84d	22.0%	$5.20	$0.95	$1,900	$45,190	$79,952	$11,298	15	$6,000	6mo	1mo	1.94x	PASS
7	31	Nov 20	119d	24.4%	$5.95	$0.20	$400	$36,500	$60,731	$19,988	16	$8,000	5mo	1mo	2.00x	PASS
8	31	Oct 16	84d	24.4%	$4.80	$1.35	$2,700	$41,714	$73,869	$14,774	16	$8,000	6mo	1mo	2.00x	PASS
9	30	Nov 20	119d	26.9%	$5.35	$0.80	$1,600	$32,819	$54,597	$23,669	17	$10,000	5mo	1mo	2.06x	PASS
10	30	Oct 16	84d	26.9%	$4.40	$1.75	$3,500	$38,238	$65,613	$18,250	17	$10,000	7mo	1mo	2.06x	PASS
11	29	Nov 20	119d	29.3%	$5.10	$1.05	$2,100	$31,286	$50,609	$25,202	18	$12,000	6mo	1mo	2.12x	PASS
12	29	Oct 16	84d	29.3%	$4.00	$2.15	$4,300	$34,762	$61,268	$21,726	18	$12,000	7mo	1mo	2.12x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $3.25	$66,857/yr	$45,088/yr	SELF-FUNDING
CC at MID $51 0.6σ, B $2.05	$42,171/yr	$45,088/yr	DEFICIT $243/mo
AT 20% DRAWDOWN (stock $41.03 → $32.82, hedge $67,356/yr)
CC at SS vs stressed	$66,857/yr	$67,356/yr	DEFICIT $42/mo
CC at MID vs stressed	$42,171/yr	$67,356/yr	DEFICIT $2,099/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, 84d

Stock: $92.42 HP: 2.6% OTM Current hedge: $37,804/yr SS: $108.93 (unchanged) Shares: 1,000 CC income: $52,843/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	119d	8.0%	$8.55	$-0.15	$-150	$26,225	$23,066	$11,579	25	$5,000	5mo	1mo	1.90x	PASS
2	85	Oct 16	84d	8.0%	$6.45	$1.95	$1,950	$28,027	$23,768	$9,777	25	$5,000	6mo	1mo	1.90x	PASS
3	80	Oct 16	84d	13.4%	$4.50	$3.90	$3,900	$19,554	$30,286	$18,250	30	$10,000	7mo	2mo	2.08x	PASS
4	80	Nov 20	119d	13.4%	$6.45	$1.95	$1,950	$19,784	$28,126	$18,020	30	$10,000	7mo	2mo	2.08x	PASS
5	75	Oct 16	84d	18.8%	$3.10	$5.30	$5,300	$13,470	$38,325	$24,333	35	$15,000	7mo	2mo	2.26x	PASS
6	75	Nov 20	119d	18.8%	$4.80	$3.60	$3,600	$14,723	$33,954	$23,081	35	$15,000	8mo	2mo	2.26x	PASS
7	70	Oct 16	84d	24.3%	$2.06	$6.34	$6,340	$8,951	$28,027	$28,852	40	$20,000	8mo	3mo	2.44x	PASS
8	70	Nov 20	119d	24.3%	$3.40	$5.00	$5,000	$10,429	$26,225	$27,375	40	$20,000	9mo	3mo	2.44x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $110, B $1.81	$18,617/yr	$26,225/yr	DEFICIT $634/mo
CC at MID $103 0.6σ, B $3.10	$31,886/yr	$26,225/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $92.42 → $73.94, hedge $23,066/yr)
CC at SS vs stressed	$18,617/yr	$23,066/yr	DEFICIT $371/mo
CC at MID vs stressed	$31,886/yr	$23,066/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($103, bid $3.10). 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, 119d

Stock: $5.54 HP: ITM Current hedge: $21,854/yr SS: $12.45 (unchanged) Shares: 2,500 CC income: $18,449/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	119d	9.8%	$1.10	$1.60	$4,000	$8,435	$8,435	$13,419	8	$6,250	6mo	2mo	4.12x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $9, B $0.05	$1,286/yr	$8,435/yr	DEFICIT $596/mo
CC at MID $7 0.7σ, B $0.25	$6,429/yr	$8,435/yr	DEFICIT $167/mo
AT 20% DRAWDOWN (stock $5.54 → $4.44, hedge $8,435/yr)
CC at SS vs stressed	$1,286/yr	$8,435/yr	DEFICIT $596/mo
CC at MID vs stressed	$6,429/yr	$8,435/yr	DEFICIT $167/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).