Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$162,227/yr

TOTAL HEDGE (REPAIRED)

$112,595/yr

ANNUAL SAVINGS

$49,632/yr

ROLL CREDITS

$800

ADDITIONAL MAX LOSS

$14,250

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 (Joint) → +25C −47P +35P −40C	$36.32	25	47	35	40	$44.00	$49.71	12	1.75x	3.6%	TIGHT	20	$32,000	$72,640	REPAIR PLAN (80d)
IREN (Main) → +25C −47P +35P −40C	$36.32	25	47	35	40	$44.00	$49.71	12	1.75x	3.6%	TIGHT	20	$32,000	$72,640	REPAIR PLAN (80d)
UAMY → +10C −12P +8P −7C	$5.45	10	12	8	7	$12.45	$13.25	5	3.08x	-37.7%	ITM	25	$6,000	$13,612	REPAIR PLAN (115d)
GOOG (Joint) +310C −340C	$327.50	310	0	0	340	$392.50	$343.84	0	1.00x	0.0%	N/A	5	$41,250	$163,750	LEAPS-ONLY
IBIT +75C	$36.77	75	0	0	0	$70.58	$48.92	0	1.00x	0.0%	N/A	50	$22,328	$183,875	LEAPS-ONLY
IGV +70C	$91.08	70	0	0	0	$96.50	$86.85	0	1.00x	0.0%	N/A	12	$31,800	$109,296	LEAPS-ONLY
MARA (Main) +40C −16C	$11.78	40	0	0	16	$40.55	$15.25	0	1.00x	0.0%	N/A	200	$11,000	$235,500	LEAPS-ONLY
MSTR (Joint) +180C −110C	$98.67	180	0	0	110	$233.00	$152.96	0	1.00x	0.0%	N/A	10	$53,000	$98,670	LEAPS-ONLY
SPY +640C −750C	$739.69	640	0	0	750	$764.00	$694.95	0	1.00x	0.0%	N/A	12	$148,800	$887,628	LEAPS-ONLY
AMZN +215C −260P +230P −255C	$232.09	215	260	230	255	$256.25	$242.12	30	1.80x	0.9%	TIGHT	10	$37,500	$232,090	OK
APP +460C −540P +185P −435C	$410.99	460	540	185	435	$588.00	$607.09	355	3.77x	55.0%	SAFE	1	$12,800	$41,099	OK
BMNR (Joint) +23C −65P +25P −21C	$18.16	23	65	25	21	$30.29	$9.08	40	0.00x	-37.6%	ITM	150	$0	$272,475	OK
BMNR (Main) +25C −45P +15P −21C	$18.16	25	45	15	21	$44.46	$52.10	30	2.59x	17.4%	SAFE	50	$94,550	$90,825	OK
BMNR (Main) +23C −65P +25P −21C	$18.16	23	65	25	21	$39.13	$9.08	40	0.00x	-37.6%	ITM	75	$0	$136,238	OK
BMNR (RetireInc) +10C −18P +10P −20C	$18.16	10	18	10	20	$17.13	$19.39	8	2.28x	44.9%	SAFE	50	$31,250	$90,825	OK
CLSK +17C −17P +10P	$13.97	17	17	10	0	$20.74	$17.29	7	2.87x	28.4%	SAFE	25	$9,350	$34,938	OK
COIN (Main) +165C −240P +85P −180C	$167.38	165	240	85	180	$210.90	$217.97	155	10.23x	49.2%	SAFE	8	$13,440	$133,908	OK
COIN (Main) +500C −330P +300P −180C	$167.38	500	330	300	180	$563.00	$336.38	30	1.48x	-79.2%	ITM	25	$157,500	$418,462	OK
COIN (RetireInc) +145C −200P +75P −195C	$167.38	145	200	75	195	$182.40	$187.85	125	7.31x	55.2%	SAFE	3	$5,940	$50,216	OK
COPX +65C −90P +68P −80C	$77.88	65	90	68	80	$93.40	$94.49	22	1.77x	12.7%	SAFE	20	$56,800	$155,750	OK
CRWV +105C −120P +40P −97C	$71.22	105	120	40	97	$125.45	$129.39	80	4.91x	43.8%	SAFE	5	$10,225	$35,612	OK
DELL +340C −390P +150P −475C	$426.29	340	390	150	475	$398.00	$409.11	240	5.14x	64.8%	SAFE	3	$17,400	$127,886	OK
ENPH +45C −60P +20P	$37.84	45	60	20	0	$56.15	$58.89	40	6.48x	47.1%	SAFE	10	$7,300	$37,840	OK
ETHA +13C −16P +10P	$14.70	13	16	10	0	$17.33	$17.92	6	2.39x	31.9%	SAFE	50	$21,650	$73,475	OK
GLD +320C −450P +330P −390C	$374.68	320	450	330	390	$456.00	$471.57	120	1.88x	11.9%	SAFE	10	$136,000	$374,680	OK
GLXY +38C −38P +18P	$22.53	38	38	18	0	$39.71	$34.26	20	10.05x	22.3%	SAFE	125	$27,625	$281,625	OK
GOOG (Neville) +300C −345P +310P −340C	$327.50	300	345	310	340	$373.00	$340.92	35	1.48x	5.3%	OK	15	$109,500	$491,250	OK
GOOG (Neville) +340C −405P +360P −340C	$327.50	340	405	360	340	$398.00	$379.25	45	1.88x	-9.9%	ITM	5	$25,500	$163,750	OK
HIMS +10C −20P +5P −35C	$30.18	10	20	5	35	$17.47	$19.50	15	4.04x	83.4%	SAFE	15	$7,395	$45,278	OK
INTC +85C −100P +35P	$92.29	85	100	35	0	$114.00	$117.94	65	3.24x	62.1%	SAFE	5	$14,500	$46,145	OK
IREN (Neville) +45C −65P +21P −40C	$36.32	45	65	21	40	$56.50	$59.42	44	15.67x	42.2%	SAFE	20	$6,000	$72,640	OK
IREN (RetireInc) +50C −70P +23P −40C	$36.32	50	70	23	40	$63.43	$67.95	47	7.86x	36.7%	SAFE	20	$13,700	$72,640	OK
MARA (Joint) +20C −17P +10P −16C	$11.78	20	17	10	16	$24.33	$19.19	7	2.62x	15.1%	SAFE	50	$21,650	$58,875	OK
MARA (Main) +20C −25P +15P −16C	$11.78	20	25	15	16	$22.69	$18.27	10	27.32x	-27.4%	ITM	200	$7,600	$235,500	OK
MARA (Neville) +25C −15P +13P −16C	$11.78	25	15	13	16	$26.40	$14.68	2	2.43x	-10.4%	ITM	250	$35,000	$294,375	OK
MDB +270C −340P +150P −325C	$311.87	270	340	150	325	$362.90	$382.29	190	3.05x	51.9%	SAFE	1	$9,290	$31,187	OK
META +480C −650P +330P −638C	$595.69	480	650	330	638	$601.50	$605.47	320	5.38x	44.6%	SAFE	3	$21,900	$178,707	OK
MSTR (RetireInc) +125C −185P +55P −110C	$98.67	125	185	55	110	$161.00	$168.09	130	11.83x	44.3%	SAFE	4	$4,800	$39,468	OK
MU (Main) +880C −1010P +320P −1000C	$897.75	880	1010	320	1000	$1028.60	$1057.44	690	5.64x	64.4%	SAFE	5	$74,300	$448,872	OK
MU (Neville) +970C −1110P +370P −1020C	$897.75	970	1110	370	1020	$1220.00	$1247.95	740	3.96x	58.8%	SAFE	2	$50,000	$179,549	OK
NEM +88C −105P +75P −106C	$93.76	88	105	75	106	$114.54	$118.41	30	2.11x	20.0%	SAFE	5	$13,520	$46,880	OK
NOW +80C −110P +90P −120C	$105.97	80	110	90	120	$108.93	$113.63	20	1.72x	15.1%	SAFE	10	$27,850	$105,972	OK
NVDA +140C −175P +70P −210C	$197.49	140	175	70	210	$199.60	$203.01	105	2.76x	64.6%	SAFE	5	$29,800	$98,745	OK
QCOM +190C −210P +90P −208C	$170.32	190	210	90	208	$224.00	$228.91	120	4.53x	47.2%	SAFE	5	$17,000	$85,160	OK
RIOT +17C −40P +17P	$22.00	17	40	17	0	$23.65	$32.51	23	5.60x	22.7%	SAFE	50	$24,975	$109,975	OK
RKLB +115C −135P +45P −72C	$66.50	115	135	45	72	$141.55	$149.33	90	4.39x	32.3%	SAFE	6	$15,930	$39,903	OK
SPCX +150C −195P +135P −125C	$112.18	150	195	135	125	$186.00	$183.62	60	3.22x	-20.3%	ITM	5	$13,500	$56,088	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 80d

Stock: $36.32 HP: 3.6% OTM Current hedge: $69,806/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $117,577/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	33	Nov 20	115d	9.1%	$8.15	$-0.80	$-1,600	$51,735	$53,131	$18,071	14	$4,000	3mo	0mo	1.88x	PASS
2	33	Oct 16	80d	9.1%	$6.80	$0.55	$1,100	$62,050	$63,601	$7,756	14	$4,000	6mo	0mo	1.88x	PASS
3	32	Nov 20	115d	11.9%	$7.50	$-0.15	$-300	$47,609	$55,353	$22,198	15	$6,000	3mo	1mo	1.94x	PASS
4	32	Oct 16	80d	11.9%	$6.35	$1.00	$2,000	$57,944	$64,514	$11,862	15	$6,000	6mo	1mo	1.94x	PASS
5	31	Nov 20	115d	14.6%	$7.00	$0.35	$700	$44,435	$57,575	$25,371	16	$8,000	4mo	1mo	2.00x	PASS
6	31	Oct 16	80d	14.6%	$5.75	$1.60	$3,200	$52,469	$69,533	$17,338	16	$8,000	6mo	1mo	2.00x	PASS
7	30	Nov 20	115d	17.4%	$6.45	$0.90	$1,800	$40,943	$62,018	$28,863	17	$10,000	4mo	1mo	2.06x	PASS
8	30	Oct 16	80d	17.4%	$5.25	$2.10	$4,200	$47,906	$75,920	$21,900	17	$10,000	5mo	1mo	2.06x	PASS
9	29	Nov 20	115d	20.2%	$5.95	$1.40	$2,800	$37,770	$62,526	$32,037	18	$12,000	4mo	1mo	2.12x	PASS
10	29	Oct 16	80d	20.2%	$4.75	$2.60	$5,200	$43,344	$78,475	$26,462	18	$12,000	5mo	1mo	2.12x	PASS
11	28	Nov 20	115d	22.9%	$5.45	$1.90	$3,800	$34,596	$58,083	$35,211	19	$14,000	5mo	1mo	2.19x	PASS
12	28	Oct 16	80d	22.9%	$4.35	$3.00	$6,000	$39,694	$69,806	$30,112	19	$14,000	6mo	1mo	2.19x	PASS
13	27	Nov 20	115d	25.7%	$5.10	$2.25	$4,500	$32,374	$55,226	$37,432	20	$16,000	5mo	1mo	2.25x	PASS
14	27	Oct 16	80d	25.7%	$3.95	$3.40	$6,800	$36,044	$65,700	$33,762	20	$16,000	6mo	1mo	2.25x	PASS
15	26	Nov 20	115d	28.4%	$4.55	$2.80	$5,600	$28,883	$47,609	$40,924	21	$18,000	5mo	1mo	2.31x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $1.51	$35,071/yr	$51,735/yr	DEFICIT $1,389/mo
CC at MID $45 0.7σ, B $2.53	$58,761/yr	$51,735/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $36.32 → $29.06, hedge $53,131/yr)
CC at SS vs stressed	$35,071/yr	$53,131/yr	DEFICIT $1,505/mo
CC at MID vs stressed	$58,761/yr	$53,131/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($45, bid $2.53). 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, 80d

#	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	33	Nov 20	115d	9.1%	$8.15	$-0.80	$-1,600	$51,735	$53,131	$18,071	14	$4,000	3mo	0mo	1.88x	PASS
2	33	Oct 16	80d	9.1%	$6.80	$0.55	$1,100	$62,050	$63,601	$7,756	14	$4,000	6mo	0mo	1.88x	PASS
3	32	Nov 20	115d	11.9%	$7.50	$-0.15	$-300	$47,609	$55,353	$22,198	15	$6,000	3mo	1mo	1.94x	PASS
4	32	Oct 16	80d	11.9%	$6.35	$1.00	$2,000	$57,944	$64,514	$11,862	15	$6,000	6mo	1mo	1.94x	PASS
5	31	Nov 20	115d	14.6%	$7.00	$0.35	$700	$44,435	$57,575	$25,371	16	$8,000	4mo	1mo	2.00x	PASS
6	31	Oct 16	80d	14.6%	$5.75	$1.60	$3,200	$52,469	$69,533	$17,338	16	$8,000	6mo	1mo	2.00x	PASS
7	30	Nov 20	115d	17.4%	$6.45	$0.90	$1,800	$40,943	$62,018	$28,863	17	$10,000	4mo	1mo	2.06x	PASS
8	30	Oct 16	80d	17.4%	$5.25	$2.10	$4,200	$47,906	$75,920	$21,900	17	$10,000	5mo	1mo	2.06x	PASS
9	29	Nov 20	115d	20.2%	$5.95	$1.40	$2,800	$37,770	$62,526	$32,037	18	$12,000	4mo	1mo	2.12x	PASS
10	29	Oct 16	80d	20.2%	$4.75	$2.60	$5,200	$43,344	$78,475	$26,462	18	$12,000	5mo	1mo	2.12x	PASS
11	28	Nov 20	115d	22.9%	$5.45	$1.90	$3,800	$34,596	$58,083	$35,211	19	$14,000	5mo	1mo	2.19x	PASS
12	28	Oct 16	80d	22.9%	$4.35	$3.00	$6,000	$39,694	$69,806	$30,112	19	$14,000	6mo	1mo	2.19x	PASS
13	27	Nov 20	115d	25.7%	$5.10	$2.25	$4,500	$32,374	$55,226	$37,432	20	$16,000	5mo	1mo	2.25x	PASS
14	27	Oct 16	80d	25.7%	$3.95	$3.40	$6,800	$36,044	$65,700	$33,762	20	$16,000	6mo	1mo	2.25x	PASS
15	26	Nov 20	115d	28.4%	$4.55	$2.80	$5,600	$28,883	$47,609	$40,924	21	$18,000	5mo	1mo	2.31x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $1.51	$35,071/yr	$51,735/yr	DEFICIT $1,389/mo
CC at MID $45 0.7σ, B $2.53	$58,761/yr	$51,735/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $36.32 → $29.06, hedge $53,131/yr)
CC at SS vs stressed	$35,071/yr	$53,131/yr	DEFICIT $1,505/mo
CC at MID vs stressed	$58,761/yr	$53,131/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($45, bid $2.53). 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, 115d

Stock: $5.45 HP: ITM Current hedge: $22,614/yr SS: $12.45 (unchanged) Shares: 2,500 CC income: $14,491/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	115d	8.2%	$1.15	$1.60	$4,000	$9,125	$9,125	$13,489	8	$6,250	6mo	3mo	4.12x	PASS

POST-REPAIR SUSTAINABILITY CC chain Aug 28 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $9, B $0.05	$1,452/yr	$9,125/yr	DEFICIT $639/mo
CC at MID $6 0.6σ, B $0.30	$8,710/yr	$9,125/yr	DEFICIT $35/mo
AT 20% DRAWDOWN (stock $5.45 → $4.36, hedge $9,125/yr)
CC at SS vs stressed	$1,452/yr	$9,125/yr	DEFICIT $639/mo
CC at MID vs stressed	$8,710/yr	$9,125/yr	DEFICIT $35/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).