Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$174,321/yr

TOTAL HEDGE (REPAIRED)

$118,548/yr

ANNUAL SAVINGS

$55,772/yr

ROLL CREDITS

-$6,950

ADDITIONAL MAX LOSS

$9,000

PORTFOLIO ACTION SUMMARY · 47 positions

4 · 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
IREN (Joint) → +25C −47P +35P −51C	$38.80	25	47	35	51	$44.00	$48.17	12	1.75x	9.8%	OK	20	$32,000	$77,600	REPAIR PLAN (84d)
IREN (Main) → +25C −47P +35P −55C	$38.80	25	47	35	55	$44.00	$48.17	12	1.75x	9.8%	OK	20	$32,000	$77,600	REPAIR PLAN (84d)
NOW → +80C −110P +90P	$96.34	80	110	90	0	$108.93	$114.13	20	1.72x	6.6%	OK	10	$27,850	$96,340	REPAIR PLAN (84d)
UAMY → +10C −12P +8P −7C	$5.39	10	12	8	7	$12.45	$13.04	5	3.08x	-39.0%	ITM	25	$6,000	$13,487	REPAIR PLAN (119d)
GOOG (Joint) +310C	$319.90	310	0	0	0	$392.50	$341.26	0	1.00x	0.0%	N/A	5	$41,250	$159,950	LEAPS-ONLY
IBIT +75C	$36.42	75	0	0	0	$70.58	$48.58	0	1.00x	0.0%	N/A	50	$22,328	$182,100	LEAPS-ONLY
IGV +70C −94C	$88.04	70	0	0	94	$96.50	$86.56	0	1.00x	0.0%	N/A	12	$31,800	$105,648	LEAPS-ONLY
MARA (Main) +40C −14C	$12.38	40	0	0	14	$40.55	$15.34	0	1.00x	0.0%	N/A	200	$11,000	$247,500	LEAPS-ONLY
MSTR (Joint) +180C	$92.61	180	0	0	0	$233.00	$150.48	0	1.00x	0.0%	N/A	10	$53,000	$92,615	LEAPS-ONLY
SPY +640C	$738.76	640	0	0	0	$764.00	$693.48	0	1.00x	0.0%	N/A	12	$148,800	$886,512	LEAPS-ONLY
AMZN +215C −260P +230P −255C	$233.23	215	260	230	255	$256.25	$241.45	30	1.80x	1.4%	TIGHT	10	$37,500	$233,230	OK
APP +460C −540P +185P −435C	$396.80	460	540	185	435	$588.00	$606.84	355	3.77x	53.4%	SAFE	1	$12,800	$39,680	OK
BMNR (Joint) +23C −65P +25P −20C	$16.00	23	65	25	20	$30.29	$8.00	40	0.00x	-56.2%	ITM	150	$0	$240,000	OK
BMNR (Main) +25C −45P +15P −20C	$16.00	25	45	15	20	$44.46	—	30	2.59x	6.2%	OK	50	$94,550	$80,000	OK
BMNR (Main) +23C −65P +25P −20C	$16.00	23	65	25	20	$39.13	$8.00	40	0.00x	-56.2%	ITM	75	$0	$120,000	OK
BMNR (RetireInc) +10C −18P +10P −20C	$16.00	10	18	10	20	$17.13	$19.16	8	2.28x	37.5%	SAFE	50	$31,250	$80,000	OK
CLSK +17C −17P +10P	$14.98	17	17	10	0	$20.74	$17.12	7	2.87x	33.2%	SAFE	25	$9,350	$37,450	OK
COIN (Main) +165C −240P +85P −210C	$156.50	165	240	85	210	$210.90	$215.48	155	10.23x	45.7%	SAFE	8	$13,440	$125,200	OK
COIN (Main) +500C −330P +300P −210C	$156.50	500	330	300	210	$563.00	$330.14	30	1.48x	-91.7%	ITM	25	$157,500	$391,250	OK
COIN (RetireInc) +145C −200P +75P −195C	$156.50	145	200	75	195	$182.40	$186.34	125	7.31x	52.1%	SAFE	3	$5,940	$46,950	OK
COPX +65C −90P +68P −85C	$77.98	65	90	68	85	$93.40	$94.84	22	1.77x	12.8%	SAFE	20	$56,800	$155,960	OK
CRWV +105C −120P +40P −97C	$76.46	105	120	40	97	$125.45	$127.97	80	4.91x	47.7%	SAFE	5	$10,225	$38,230	OK
DELL +340C −390P +150P −475C	$436.55	340	390	150	475	$398.00	$408.23	240	5.14x	65.6%	SAFE	3	$17,400	$130,964	OK
ENPH +45C −60P +20P	$38.03	45	60	20	0	$56.15	$58.72	40	6.48x	47.4%	SAFE	10	$7,300	$38,035	OK
ETHA +13C −16P +10P	$14.04	13	16	10	0	$17.33	$17.92	6	2.39x	28.8%	SAFE	50	$21,650	$70,206	OK
GLD +320C −450P +330P −390C	$371.72	320	450	330	390	$456.00	$472.11	120	1.88x	11.2%	SAFE	10	$136,000	$371,720	OK
GLXY +38C −38P +18P	$23.59	38	38	18	0	$39.71	$33.54	20	10.05x	25.8%	SAFE	125	$27,625	$294,925	OK
GOOG (Neville) +300C −345P +310P	$319.90	300	345	310	0	$373.00	$340.57	35	1.48x	3.1%	TIGHT	15	$109,500	$479,850	OK
GOOG (Neville) +340C −405P +360P	$319.90	340	405	360	0	$398.00	$379.02	45	1.88x	-12.5%	ITM	5	$25,500	$159,950	OK
HIMS +10C −20P +5P −42C	$32.58	10	20	5	42	$17.47	$18.82	15	4.04x	84.7%	SAFE	15	$7,395	$48,863	OK
INTC +85C −100P +35P	$97.56	85	100	35	0	$114.00	$115.82	65	3.24x	64.1%	SAFE	5	$14,500	$48,782	OK
IREN (Neville) +45C −65P +21P −55C	$38.80	45	65	21	55	$56.50	$57.95	44	15.67x	45.9%	SAFE	20	$6,000	$77,600	OK
IREN (RetireInc) +50C −70P +23P −55C	$38.80	50	70	23	55	$63.43	$66.61	47	7.86x	40.7%	SAFE	20	$13,700	$77,600	OK
MARA (Joint) +20C −17P +10P −14C	$12.38	20	17	10	14	$24.33	$19.28	7	2.62x	19.2%	SAFE	50	$21,650	$61,875	OK
MARA (Main) +20C −25P +15P −14C	$12.38	20	25	15	14	$22.69	$17.69	10	27.32x	-21.2%	ITM	200	$7,600	$247,500	OK
MARA (Neville) +25C −15P +13P −14C	$12.38	25	15	13	14	$26.40	$15.21	2	2.43x	-5.1%	ITM	250	$35,000	$309,375	OK
MDB +270C −340P +150P −325C	$297.99	270	340	150	325	$362.90	$379.63	190	3.05x	49.7%	SAFE	1	$9,290	$29,798	OK
META +480C −650P +330P −638C	$603.37	480	650	330	638	$601.50	$605.23	320	5.38x	45.3%	SAFE	3	$21,900	$181,010	OK
MSTR (RetireInc) +125C −185P +55P	$92.61	125	185	55	0	$161.00	$167.61	130	11.83x	40.6%	SAFE	4	$4,800	$37,046	OK
MU (Main) +880C −1010P +320P −1050C	$946.68	880	1010	320	1050	$1028.60	$1055.91	690	5.64x	66.2%	SAFE	5	$74,300	$473,340	OK
MU (Neville) +970C −1110P +370P −1125C	$946.68	970	1110	370	1125	$1220.00	$1246.41	740	3.96x	60.9%	SAFE	2	$50,000	$189,336	OK
NEM +88C −105P +75P −106C	$93.65	88	105	75	106	$114.54	$117.89	30	2.11x	19.9%	SAFE	5	$13,520	$46,825	OK
NVDA +140C −175P +70P −220C	$207.40	140	175	70	220	$199.60	$202.84	105	2.76x	66.2%	SAFE	5	$29,800	$103,700	OK
QCOM +190C −210P +90P −208C	$168.95	190	210	90	208	$224.00	$227.50	120	4.53x	46.7%	SAFE	5	$17,000	$84,475	OK
RIOT +17C −40P +17P −30C	$23.21	17	40	17	30	$23.65	$32.89	23	4.70x	26.8%	SAFE	50	$31,050	$116,050	OK
RKLB +115C −135P +45P −83C	$67.66	115	135	45	83	$141.55	$147.44	90	4.39x	33.5%	SAFE	6	$15,930	$40,596	OK
SPCX +150C −195P +135P −165C	$114.19	150	195	135	165	$186.00	$181.82	60	3.22x	-18.2%	ITM	5	$13,500	$57,093	OK

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

Stock: $38.80 HP: 9.8% OTM Current hedge: $59,964/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $141,729/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 14 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	12.4%	$7.70	$-1.45	$-2,900	$47,235	$57,050	$12,729	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	84d	12.4%	$6.35	$-0.10	$-200	$55,185	$65,613	$4,780	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	119d	14.9%	$7.20	$-0.95	$-1,900	$44,168	$58,277	$15,796	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	84d	14.9%	$5.85	$0.40	$800	$50,839	$69,089	$9,125	14	$4,000	5mo	0mo	1.88x	PASS
5	32	Nov 20	119d	17.5%	$6.65	$-0.40	$-800	$40,794	$60,424	$19,170	15	$6,000	4mo	0mo	1.94x	PASS
6	32	Oct 16	84d	17.5%	$5.40	$0.85	$1,700	$46,929	$72,565	$13,036	15	$6,000	6mo	0mo	1.94x	PASS
7	31	Nov 20	119d	20.1%	$6.20	$0.05	$100	$38,034	$62,878	$21,931	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	84d	20.1%	$5.05	$1.20	$2,400	$43,887	$76,042	$16,077	16	$8,000	6mo	1mo	2.00x	PASS
9	30	Nov 20	119d	22.7%	$5.70	$0.55	$1,100	$34,966	$57,050	$24,998	17	$10,000	5mo	1mo	2.06x	PASS
10	30	Oct 16	84d	22.7%	$4.50	$1.75	$3,500	$39,107	$68,220	$20,857	17	$10,000	6mo	1mo	2.06x	PASS
11	29	Nov 20	119d	25.3%	$5.30	$0.95	$1,900	$32,513	$53,676	$27,452	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	84d	25.3%	$4.15	$2.10	$4,200	$36,065	$63,875	$23,899	18	$12,000	6mo	1mo	2.12x	PASS
13	28	Nov 20	119d	27.8%	$4.90	$1.35	$2,700	$30,059	$50,303	$29,905	19	$14,000	6mo	1mo	2.19x	PASS
14	28	Oct 16	84d	27.8%	$3.80	$2.45	$4,900	$33,024	$59,530	$26,940	19	$14,000	6mo	1mo	2.19x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $2.39	$49,166/yr	$47,235/yr	SELF-FUNDING
CC at MID $49 0.7σ, B $2.39	$49,166/yr	$47,235/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $38.80 → $31.04, hedge $57,050/yr)
CC at SS vs stressed	$49,166/yr	$57,050/yr	DEFICIT $657/mo
CC at MID vs stressed	$49,166/yr	$57,050/yr	DEFICIT $657/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($49, bid $2.39) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$657/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

#	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	12.4%	$7.70	$-1.45	$-2,900	$47,235	$57,050	$12,729	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	84d	12.4%	$6.35	$-0.10	$-200	$55,185	$65,613	$4,780	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	119d	14.9%	$7.20	$-0.95	$-1,900	$44,168	$58,277	$15,796	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	84d	14.9%	$5.85	$0.40	$800	$50,839	$69,089	$9,125	14	$4,000	5mo	0mo	1.88x	PASS
5	32	Nov 20	119d	17.5%	$6.65	$-0.40	$-800	$40,794	$60,424	$19,170	15	$6,000	4mo	0mo	1.94x	PASS
6	32	Oct 16	84d	17.5%	$5.40	$0.85	$1,700	$46,929	$72,565	$13,036	15	$6,000	6mo	0mo	1.94x	PASS
7	31	Nov 20	119d	20.1%	$6.20	$0.05	$100	$38,034	$62,878	$21,931	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	84d	20.1%	$5.05	$1.20	$2,400	$43,887	$76,042	$16,077	16	$8,000	6mo	1mo	2.00x	PASS
9	30	Nov 20	119d	22.7%	$5.70	$0.55	$1,100	$34,966	$57,050	$24,998	17	$10,000	5mo	1mo	2.06x	PASS
10	30	Oct 16	84d	22.7%	$4.50	$1.75	$3,500	$39,107	$68,220	$20,857	17	$10,000	6mo	1mo	2.06x	PASS
11	29	Nov 20	119d	25.3%	$5.30	$0.95	$1,900	$32,513	$53,676	$27,452	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	84d	25.3%	$4.15	$2.10	$4,200	$36,065	$63,875	$23,899	18	$12,000	6mo	1mo	2.12x	PASS
13	28	Nov 20	119d	27.8%	$4.90	$1.35	$2,700	$30,059	$50,303	$29,905	19	$14,000	6mo	1mo	2.19x	PASS
14	28	Oct 16	84d	27.8%	$3.80	$2.45	$4,900	$33,024	$59,530	$26,940	19	$14,000	6mo	1mo	2.19x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $2.39	$49,166/yr	$47,235/yr	SELF-FUNDING
CC at MID $49 0.7σ, B $2.39	$49,166/yr	$47,235/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $38.80 → $31.04, hedge $57,050/yr)
CC at SS vs stressed	$49,166/yr	$57,050/yr	DEFICIT $657/mo
CC at MID vs stressed	$49,166/yr	$57,050/yr	DEFICIT $657/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($49, bid $2.39) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$657/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

NOW: HP 90P Roll-Down · exp Oct 16 '26, 84d

Stock: $96.34 HP: 6.6% OTM Current hedge: $32,155/yr SS: $108.93 (unchanged) Shares: 1,000 CC income: $41,250/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	11.8%	$7.85	$-1.15	$-1,150	$24,078	$30,795	$8,077	25	$5,000	7mo	1mo	1.90x	PASS
2	85	Oct 16	84d	11.8%	$5.70	$1.00	$1,000	$24,768	$33,849	$7,387	25	$5,000	8mo	1mo	1.90x	PASS
3	80	Oct 16	84d	17.0%	$3.90	$2.80	$2,800	$16,946	$40,802	$15,208	30	$10,000	8mo	2mo	2.08x	PASS
4	80	Nov 20	119d	17.0%	$6.25	$0.45	$450	$19,170	$36,316	$12,985	30	$10,000	9mo	2mo	2.08x	PASS
5	75	Oct 16	84d	22.2%	$2.88	$3.82	$3,820	$12,514	$44,321	$19,640	35	$15,000	9mo	3mo	2.26x	PASS
6	75	Nov 20	119d	22.2%	$4.45	$2.25	$2,250	$13,649	$39,567	$18,506	35	$15,000	10mo	3mo	2.26x	PASS
7	70	Oct 16	84d	27.3%	$1.97	$4.73	$4,730	$8,560	$33,676	$23,595	40	$20,000	10mo	4mo	2.44x	PASS
8	70	Nov 20	119d	27.3%	$3.20	$3.50	$3,500	$9,815	$29,905	$22,340	40	$20,000	11mo	4mo	2.44x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $114, B $0.89	$9,154/yr	$24,078/yr	DEFICIT $1,244/mo
CC at MID $108 0.7σ, B $2.16	$22,217/yr	$24,078/yr	DEFICIT $155/mo
AT 20% DRAWDOWN (stock $96.34 → $77.07, hedge $30,795/yr)
CC at SS vs stressed	$9,154/yr	$30,795/yr	DEFICIT $1,803/mo
CC at MID vs stressed	$22,217/yr	$30,795/yr	DEFICIT $715/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.

UAMY: HP 8P Roll-Down · exp Nov 20 '26, 119d (no viable candidates)

Stock: $5.39 Current HP: 8P (119d, -39.0% OTM) Current hedge: $22,237/yr Gap: 5 IV: HIGH

No HP candidates passed all filters. Reasons:

1 candidate(s) priced
1 rejected for being inside the 8% OTM floor (HIGH IV).

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).