Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$178,214/yr

TOTAL HEDGE (REPAIRED)

$118,813/yr

ANNUAL SAVINGS

$59,401/yr

ROLL CREDITS

-$4,650

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 −48C	$37.49	25	47	35	48	$44.00	$49.48	12	1.75x	6.6%	OK	20	$32,000	$74,980	REPAIR PLAN (83d)
IREN (Main) → +25C −47P +35P −55C	$37.49	25	47	35	55	$44.00	$49.48	12	1.75x	6.6%	OK	20	$32,000	$74,980	REPAIR PLAN (83d)
NOW → +80C −110P +90P −104C	$98.53	80	110	90	104	$108.93	$115.41	20	1.72x	8.7%	OK	10	$27,850	$98,530	REPAIR PLAN (83d)
UAMY → +10C −12P +8P −7C	$5.18	10	12	8	7	$12.45	$13.01	5	3.08x	-44.6%	ITM	25	$6,000	$12,962	REPAIR PLAN (118d)
GOOG (Joint) +310C −340C	$319.10	310	0	0	340	$392.50	$342.07	0	1.00x	0.0%	N/A	5	$41,250	$159,550	LEAPS-ONLY
IBIT +75C	$36.33	75	0	0	0	$70.58	$48.79	0	1.00x	0.0%	N/A	50	$22,328	$181,625	LEAPS-ONLY
IGV +70C −94C	$88.19	70	0	0	94	$96.50	$86.33	0	1.00x	0.0%	N/A	12	$31,800	$105,828	LEAPS-ONLY
MARA (Main) +40C −16C	$12.26	40	0	0	16	$40.55	$15.40	0	1.00x	0.0%	N/A	200	$11,000	$245,100	LEAPS-ONLY
MSTR (Joint) +180C −100C	$92.19	180	0	0	100	$233.00	$150.16	0	1.00x	0.0%	N/A	10	$53,000	$92,190	LEAPS-ONLY
SPY +640C −750C	$738.09	640	0	0	750	$764.00	$694.92	0	1.00x	0.0%	N/A	12	$148,800	$885,708	LEAPS-ONLY
AMZN +215C −260P +230P −255C	$231.82	215	260	230	255	$256.25	$242.30	30	1.80x	0.8%	TIGHT	10	$37,500	$231,825	OK
APP +460C −540P +185P −435C	$392.69	460	540	185	435	$588.00	$604.61	355	3.77x	52.9%	SAFE	1	$12,800	$39,269	OK
BMNR (Joint) +23C −65P +25P −20C	$15.84	23	65	25	20	$30.29	$7.92	40	0.00x	-57.9%	ITM	150	$0	$237,525	OK
BMNR (Main) +25C −45P +15P −20C	$15.84	25	45	15	20	$44.46	—	30	2.59x	5.3%	OK	50	$94,550	$79,175	OK
BMNR (Main) +23C −65P +25P −20C	$15.84	23	65	25	20	$39.13	$7.92	40	0.00x	-57.9%	ITM	75	$0	$118,762	OK
BMNR (RetireInc) +10C −18P +10P −20C	$15.84	10	18	10	20	$17.13	$19.56	8	2.28x	36.8%	SAFE	50	$31,250	$79,175	OK
CLSK +17C −17P +10P	$14.63	17	17	10	0	$20.74	$17.28	7	2.87x	31.6%	SAFE	25	$9,350	$36,575	OK
COIN (Main) +165C −240P +85P −180C	$157.48	165	240	85	180	$210.90	$215.39	155	10.23x	46.0%	SAFE	8	$13,440	$125,984	OK
COIN (Main) +500C −330P +300P −180C	$157.48	500	330	300	180	$563.00	$334.59	30	1.48x	-90.5%	ITM	25	$157,500	$393,700	OK
COIN (RetireInc) +145C −200P +75P −195C	$157.48	145	200	75	195	$182.40	$186.38	125	7.31x	52.4%	SAFE	3	$5,940	$47,244	OK
COPX +65C −90P +68P −85C	$77.58	65	90	68	85	$93.40	$94.83	22	1.77x	12.4%	SAFE	20	$56,800	$155,170	OK
CRWV +105C −120P +40P −97C	$73.02	105	120	40	97	$125.45	$128.74	80	4.91x	45.2%	SAFE	5	$10,225	$36,510	OK
DELL +340C −390P +150P −475C	$435.06	340	390	150	475	$398.00	$407.94	240	5.14x	65.5%	SAFE	3	$17,400	$130,518	OK
ENPH +45C −60P +20P	$36.92	45	60	20	0	$56.15	$58.67	40	6.48x	45.8%	SAFE	10	$7,300	$36,920	OK
ETHA +13C −16P +10P	$14.04	13	16	10	0	$17.33	$17.95	6	2.39x	28.7%	SAFE	50	$21,650	$70,175	OK
GLD +320C −450P +330P −390C	$371.74	320	450	330	390	$456.00	$472.73	120	1.88x	11.2%	SAFE	10	$136,000	$371,735	OK
GLXY +38C −38P +18P	$22.76	38	38	18	0	$39.71	$33.11	20	10.05x	23.1%	SAFE	125	$27,625	$284,500	OK
GOOG (Neville) +300C −345P +310P −340C	$319.10	300	345	310	340	$373.00	$340.94	35	1.48x	2.9%	TIGHT	15	$109,500	$478,650	OK
GOOG (Neville) +340C −405P +360P −340C	$319.10	340	405	360	340	$398.00	$378.98	45	1.88x	-12.8%	ITM	5	$25,500	$159,550	OK
HIMS +10C −20P +5P −35C	$28.70	10	20	5	35	$17.47	$18.93	15	4.04x	82.6%	SAFE	15	$7,395	$43,050	OK
INTC +85C −100P +35P −110C	$93.29	85	100	35	110	$114.00	$117.05	65	3.24x	62.5%	SAFE	5	$14,500	$46,645	OK
IREN (Neville) +45C −65P +21P −50C	$37.49	45	65	21	50	$56.50	$58.38	44	15.67x	44.0%	SAFE	20	$6,000	$74,980	OK
IREN (RetireInc) +50C −70P +23P −48C	$37.49	50	70	23	48	$63.43	$67.20	47	7.86x	38.7%	SAFE	20	$13,700	$74,980	OK
MARA (Joint) +20C −17P +10P −16C	$12.26	20	17	10	16	$24.33	$18.58	7	2.62x	18.4%	SAFE	50	$21,650	$61,275	OK
MARA (Main) +20C −25P +15P −16C	$12.26	20	25	15	16	$22.69	$17.68	10	27.32x	-22.4%	ITM	200	$7,600	$245,100	OK
MARA (Neville) +25C −15P +13P −16C	$12.26	25	15	13	16	$26.40	$14.63	2	2.43x	-6.1%	ITM	250	$35,000	$306,375	OK
MDB +270C −340P +150P −325C	$297.82	270	340	150	325	$362.90	$382.66	190	3.05x	49.6%	SAFE	1	$9,290	$29,782	OK
META +480C −650P +330P −638C	$600.20	480	650	330	638	$601.50	$606.00	320	5.38x	45.0%	SAFE	3	$21,900	$180,060	OK
MSTR (RetireInc) +125C −185P +55P −100C	$92.19	125	185	55	100	$161.00	$167.92	130	11.83x	40.3%	SAFE	4	$4,800	$36,876	OK
MU (Main) +880C −1010P +320P −1050C	$915.80	880	1010	320	1050	$1028.60	$1055.47	690	5.64x	65.1%	SAFE	5	$74,300	$457,900	OK
MU (Neville) +970C −1110P +370P −1100C	$915.80	970	1110	370	1100	$1220.00	$1247.62	740	3.96x	59.6%	SAFE	2	$50,000	$183,160	OK
NEM +88C −105P +75P −106C	$92.83	88	105	75	106	$114.54	$117.71	30	2.11x	19.2%	SAFE	5	$13,520	$46,418	OK
NVDA +140C −175P +70P −220C	$205.82	140	175	70	220	$199.60	$203.29	105	2.76x	66.0%	SAFE	5	$29,800	$102,910	OK
QCOM +190C −210P +90P −208C	$166.86	190	210	90	208	$224.00	$227.41	120	4.53x	46.1%	SAFE	5	$17,000	$83,430	OK
RIOT +17C −40P +17P	$22.42	17	40	17	0	$23.65	$32.52	23	5.24x	24.2%	SAFE	50	$27,100	$112,100	OK
RKLB +115C −135P +45P −75C	$64.09	115	135	45	75	$141.55	$148.26	90	4.39x	29.8%	SAFE	6	$15,930	$38,454	OK
SPCX +150C −195P +135P −130C	$114.04	150	195	135	130	$186.00	$183.62	60	3.22x	-18.4%	ITM	5	$13,500	$57,020	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 83d

Stock: $37.49 HP: 6.6% OTM Current hedge: $63,325/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $137,586/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 16 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	118d	9.3%	$7.95	$-1.55	$-3,100	$49,182	$52,214	$14,143	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	83d	9.3%	$6.65	$-0.25	$-500	$58,488	$59,719	$4,837	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	118d	12.0%	$7.60	$-1.20	$-2,400	$47,017	$54,379	$16,308	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	83d	12.0%	$6.15	$0.25	$500	$54,090	$62,798	$9,235	14	$4,000	5mo	0mo	1.88x	PASS
5	32	Nov 20	118d	14.6%	$7.05	$-0.65	$-1,300	$43,614	$56,544	$19,711	15	$6,000	4mo	0mo	1.94x	PASS
6	32	Oct 16	83d	14.6%	$5.70	$0.70	$1,400	$50,133	$66,316	$13,193	15	$6,000	5mo	0mo	1.94x	PASS
7	31	Nov 20	118d	17.3%	$6.45	$-0.05	$-100	$39,903	$58,709	$23,423	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	83d	17.3%	$5.25	$1.15	$2,300	$46,175	$69,834	$17,151	16	$8,000	6mo	1mo	2.00x	PASS
9	30	Nov 20	118d	20.0%	$6.10	$0.30	$600	$37,737	$60,008	$25,588	17	$10,000	5mo	1mo	2.06x	PASS
10	30	Oct 16	83d	20.0%	$4.80	$1.60	$3,200	$42,217	$72,560	$21,108	17	$10,000	6mo	1mo	2.06x	PASS
11	29	Nov 20	118d	22.6%	$5.60	$0.80	$1,600	$34,644	$56,915	$28,681	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	83d	22.6%	$4.40	$2.00	$4,000	$38,699	$67,723	$24,627	18	$12,000	6mo	1mo	2.12x	PASS
13	28	Nov 20	118d	25.3%	$5.20	$1.20	$2,400	$32,169	$52,585	$31,156	19	$14,000	5mo	1mo	2.19x	PASS
14	28	Oct 16	83d	25.3%	$4.00	$2.40	$4,800	$35,181	$63,325	$28,145	19	$14,000	6mo	1mo	2.19x	PASS
15	27	Nov 20	118d	28.0%	$4.70	$1.70	$3,400	$29,076	$49,182	$34,249	20	$16,000	6mo	1mo	2.25x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (34d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $2.20	$46,588/yr	$49,182/yr	DEFICIT $216/mo
CC at MID $47 0.7σ, B $2.57	$54,424/yr	$49,182/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $37.49 → $29.99, hedge $52,214/yr)
CC at SS vs stressed	$46,588/yr	$52,214/yr	DEFICIT $469/mo
CC at MID vs stressed	$54,424/yr	$52,214/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($47, bid $2.57). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 83d

#	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	118d	9.3%	$7.95	$-1.55	$-3,100	$49,182	$52,214	$14,143	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	83d	9.3%	$6.65	$-0.25	$-500	$58,488	$59,719	$4,837	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	118d	12.0%	$7.60	$-1.20	$-2,400	$47,017	$54,379	$16,308	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	83d	12.0%	$6.15	$0.25	$500	$54,090	$62,798	$9,235	14	$4,000	5mo	0mo	1.88x	PASS
5	32	Nov 20	118d	14.6%	$7.05	$-0.65	$-1,300	$43,614	$56,544	$19,711	15	$6,000	4mo	0mo	1.94x	PASS
6	32	Oct 16	83d	14.6%	$5.70	$0.70	$1,400	$50,133	$66,316	$13,193	15	$6,000	5mo	0mo	1.94x	PASS
7	31	Nov 20	118d	17.3%	$6.45	$-0.05	$-100	$39,903	$58,709	$23,423	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	83d	17.3%	$5.25	$1.15	$2,300	$46,175	$69,834	$17,151	16	$8,000	6mo	1mo	2.00x	PASS
9	30	Nov 20	118d	20.0%	$6.10	$0.30	$600	$37,737	$60,008	$25,588	17	$10,000	5mo	1mo	2.06x	PASS
10	30	Oct 16	83d	20.0%	$4.80	$1.60	$3,200	$42,217	$72,560	$21,108	17	$10,000	6mo	1mo	2.06x	PASS
11	29	Nov 20	118d	22.6%	$5.60	$0.80	$1,600	$34,644	$56,915	$28,681	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	83d	22.6%	$4.40	$2.00	$4,000	$38,699	$67,723	$24,627	18	$12,000	6mo	1mo	2.12x	PASS
13	28	Nov 20	118d	25.3%	$5.20	$1.20	$2,400	$32,169	$52,585	$31,156	19	$14,000	5mo	1mo	2.19x	PASS
14	28	Oct 16	83d	25.3%	$4.00	$2.40	$4,800	$35,181	$63,325	$28,145	19	$14,000	6mo	1mo	2.19x	PASS
15	27	Nov 20	118d	28.0%	$4.70	$1.70	$3,400	$29,076	$49,182	$34,249	20	$16,000	6mo	1mo	2.25x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (34d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $2.20	$46,588/yr	$49,182/yr	DEFICIT $216/mo
CC at MID $47 0.7σ, B $2.57	$54,424/yr	$49,182/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $37.49 → $29.99, hedge $52,214/yr)
CC at SS vs stressed	$46,588/yr	$52,214/yr	DEFICIT $469/mo
CC at MID vs stressed	$54,424/yr	$52,214/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($47, bid $2.57). Self-funds in BOTH normal and 20% drawdown. At SS the position bleeds, so don't drift too far OTM.

NOW: HP 90P Roll-Down · exp Oct 16 '26, 83d

Stock: $98.53 HP: 8.7% OTM Current hedge: $28,364/yr SS: $108.93 (unchanged) Shares: 1,000 CC income: $54,817/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	Oct 16	83d	13.7%	$4.65	$1.55	$1,550	$20,449	$34,433	$7,916	25	$5,000	8mo	1mo	1.90x	PASS
2	85	Nov 20	118d	13.7%	$6.70	$-0.50	$-500	$20,725	$31,798	$7,640	25	$5,000	8mo	1mo	1.90x	PASS
3	80	Oct 16	83d	18.8%	$3.20	$3.00	$3,000	$14,072	$43,228	$14,292	30	$10,000	8mo	2mo	2.08x	PASS
4	80	Nov 20	118d	18.8%	$5.00	$1.20	$1,200	$15,466	$38,294	$12,898	30	$10,000	9mo	2mo	2.08x	PASS
5	75	Oct 16	83d	23.9%	$2.25	$3.95	$3,950	$9,895	$38,039	$18,470	35	$15,000	10mo	2mo	2.26x	PASS
6	75	Nov 20	118d	23.9%	$3.60	$2.60	$2,600	$11,136	$34,335	$17,229	35	$15,000	10mo	2mo	2.26x	PASS
7	70	Oct 16	83d	29.0%	$1.42	$4.78	$4,780	$6,245	$20,449	$22,120	40	$20,000	11mo	3mo	2.44x	PASS
8	70	Nov 20	118d	29.0%	$2.83	$3.37	$3,370	$8,754	$20,725	$19,611	40	$20,000	12mo	3mo	2.44x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (34d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $116, B $1.67	$17,682/yr	$20,449/yr	DEFICIT $231/mo
CC at MID $110 0.7σ, B $2.80	$29,647/yr	$20,449/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $98.53 → $78.82, hedge $34,433/yr)
CC at SS vs stressed	$17,682/yr	$34,433/yr	DEFICIT $1,396/mo
CC at MID vs stressed	$29,647/yr	$34,433/yr	DEFICIT $399/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($110, bid $2.80) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$399/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

UAMY: HP 8P Roll-Down · exp Nov 20 '26, 118d (no viable candidates)

Stock: $5.18 Current HP: 8P (118d, -44.6% OTM) Current hedge: $23,199/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).