Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$167,583/yr

TOTAL HEDGE (REPAIRED)

$95,217/yr

ANNUAL SAVINGS

$72,365/yr

ROLL CREDITS

-$800

ADDITIONAL MAX LOSS

$12,000

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	$35.48	25	47	35	40	$44.00	$48.57	12	1.75x	1.4%	TIGHT	20	$32,000	$70,960	REPAIR PLAN (80d)
IREN (Main) → +25C −47P +35P −40C	$35.48	25	47	35	40	$44.00	$48.57	12	1.75x	1.4%	TIGHT	20	$32,000	$70,960	REPAIR PLAN (80d)
UAMY → +10C −12P +8P −7C	$5.33	10	12	8	7	$12.45	$13.17	5	3.08x	-40.7%	ITM	25	$6,000	$13,325	REPAIR PLAN (115d)
GOOG (Joint) +310C −340C	$325.34	310	0	0	340	$392.50	$342.25	0	1.00x	0.0%	N/A	5	$41,250	$162,670	LEAPS-ONLY
IBIT +75C	$35.82	75	0	0	0	$70.58	$48.47	0	1.00x	0.0%	N/A	50	$22,328	$179,100	LEAPS-ONLY
IGV +70C	$91.00	70	0	0	0	$96.50	$87.21	0	1.00x	0.0%	N/A	12	$31,800	$109,200	LEAPS-ONLY
MARA (Main) +40C −16C	$11.55	40	0	0	16	$40.55	$15.03	0	1.00x	0.0%	N/A	200	$11,000	$231,000	LEAPS-ONLY
MSTR (Joint) +180C −110C	$95.30	180	0	0	110	$233.00	$149.64	0	1.00x	0.0%	N/A	10	$53,000	$95,300	LEAPS-ONLY
SPY +640C −750C	$738.13	640	0	0	750	$764.00	$694.05	0	1.00x	0.0%	N/A	12	$148,800	$885,762	LEAPS-ONLY
AMZN +215C −260P +230P −255C	$231.08	215	260	230	255	$256.25	$241.83	30	1.80x	0.5%	TIGHT	10	$37,500	$231,080	OK
APP +460C −540P +185P −435C	$412.00	460	540	185	435	$588.00	$606.49	355	3.77x	55.1%	SAFE	1	$12,800	$41,200	OK
BMNR (Joint) +23C −65P +25P −21C	$17.29	23	65	25	21	$30.29	$8.64	40	0.00x	-44.6%	ITM	150	$0	$259,350	OK
BMNR (Main) +25C −45P +15P −21C	$17.29	25	45	15	21	$44.46	$51.50	30	2.59x	13.2%	SAFE	50	$94,550	$86,450	OK
BMNR (Main) +23C −65P +25P −21C	$17.29	23	65	25	21	$39.13	$8.64	40	0.00x	-44.6%	ITM	75	$0	$129,675	OK
BMNR (RetireInc) +10C −18P +10P −20C	$17.29	10	18	10	20	$17.13	$18.65	8	2.28x	42.2%	SAFE	50	$31,250	$86,450	OK
CLSK +17C −17P +10P	$13.88	17	17	10	0	$20.74	$15.68	7	2.87x	27.9%	SAFE	25	$9,350	$34,688	OK
COIN (Main) +165C −240P +85P −180C	$163.41	165	240	85	180	$210.90	$212.27	155	10.23x	48.0%	SAFE	8	$13,440	$130,728	OK
COIN (Main) +500C −330P +300P −180C	$163.41	500	330	300	180	$563.00	$334.43	30	1.48x	-83.6%	ITM	25	$157,500	$408,525	OK
COIN (RetireInc) +145C −200P +75P −195C	$163.41	145	200	75	195	$182.40	$186.19	125	7.31x	54.1%	SAFE	3	$5,940	$49,023	OK
COPX +65C −90P +68P −80C	$76.84	65	90	68	80	$93.40	$93.81	22	1.77x	11.5%	SAFE	20	$56,800	$153,680	OK
CRWV +105C −120P +40P −97C	$70.17	105	120	40	97	$125.45	$128.96	80	4.91x	43.0%	SAFE	5	$10,225	$35,085	OK
DELL +340C −390P +150P −475C	$417.26	340	390	150	475	$398.00	$399.06	240	5.14x	64.1%	SAFE	3	$17,400	$125,178	OK
ENPH +45C −60P +20P	$37.51	45	60	20	0	$56.15	$57.87	40	6.48x	46.7%	SAFE	10	$7,300	$37,510	OK
ETHA +13C −16P +10P	$14.19	13	16	10	0	$17.33	$17.42	6	2.39x	29.5%	SAFE	50	$21,650	$70,950	OK
GLD +320C −450P +330P −390C	$371.42	320	450	330	390	$456.00	$467.61	120	1.88x	11.2%	SAFE	10	$136,000	$371,420	OK
GLXY +38C −38P +18P	$22.26	38	38	18	0	$39.71	$33.51	20	10.05x	21.4%	SAFE	125	$27,625	$278,250	OK
GOOG (Neville) +300C −345P +310P −340C	$325.34	300	345	310	340	$373.00	$340.42	35	1.48x	4.7%	TIGHT	15	$109,500	$488,010	OK
GOOG (Neville) +340C −405P +360P −340C	$325.34	340	405	360	340	$398.00	$379.02	45	1.88x	-10.7%	ITM	5	$25,500	$162,670	OK
HIMS +10C −20P +5P −35C	$29.89	10	20	5	35	$17.47	$19.63	15	4.04x	83.3%	SAFE	15	$7,395	$44,835	OK
INTC +85C −100P +35P	$88.53	85	100	35	0	$114.00	$114.28	65	3.24x	60.5%	SAFE	5	$14,500	$44,262	OK
IREN (Neville) +45C −65P +21P −40C	$35.48	45	65	21	40	$56.50	$58.44	44	15.67x	40.8%	SAFE	20	$6,000	$70,960	OK
IREN (RetireInc) +50C −70P +23P −40C	$35.48	50	70	23	40	$63.43	$66.80	47	7.86x	35.2%	SAFE	20	$13,700	$70,960	OK
MARA (Joint) +20C −17P +10P −16C	$11.55	20	17	10	16	$24.33	$18.51	7	2.62x	13.4%	SAFE	50	$21,650	$57,750	OK
MARA (Main) +20C −25P +15P −16C	$11.55	20	25	15	16	$22.69	$18.48	10	27.32x	-29.9%	ITM	200	$7,600	$231,000	OK
MARA (Neville) +25C −15P +13P −16C	$11.55	25	15	13	16	$26.40	$14.21	2	2.43x	-12.6%	ITM	250	$35,000	$288,750	OK
MDB +270C −340P +150P −325C	$309.50	270	340	150	325	$362.90	$376.91	190	3.05x	51.5%	SAFE	1	$9,290	$30,950	OK
META +480C −650P +330P −638C	$595.00	480	650	330	638	$601.50	$607.29	320	5.38x	44.5%	SAFE	3	$21,900	$178,500	OK
MSTR (RetireInc) +125C −185P +55P −110C	$95.30	125	185	55	110	$161.00	$164.21	130	11.83x	42.3%	SAFE	4	$4,800	$38,120	OK
MU (Main) +880C −1010P +320P −1000C	$867.37	880	1010	320	1000	$1028.60	$1024.54	690	5.64x	63.1%	SAFE	5	$74,300	$433,685	OK
MU (Neville) +970C −1110P +370P −1020C	$867.37	970	1110	370	1020	$1220.00	$1216.28	740	3.96x	57.3%	SAFE	2	$50,000	$173,474	OK
NEM +88C −105P +75P −106C	$92.65	88	105	75	106	$114.54	$117.47	30	2.11x	19.1%	SAFE	5	$13,520	$46,325	OK
NOW +80C −110P +90P −120C	$106.16	80	110	90	120	$108.93	$114.98	20	1.72x	15.2%	SAFE	10	$27,850	$106,160	OK
NVDA +140C −175P +70P −210C	$194.80	140	175	70	210	$199.60	$201.03	105	2.76x	64.1%	SAFE	5	$29,800	$97,400	OK
QCOM +190C −210P +90P −208C	$168.07	190	210	90	208	$224.00	$226.14	120	4.53x	46.5%	SAFE	5	$17,000	$84,035	OK
RIOT +17C −40P +17P	$21.40	17	40	17	0	$23.65	$31.31	23	6.23x	20.6%	SAFE	50	$22,000	$107,000	OK
RKLB +115C −135P +45P −72C	$65.58	115	135	45	72	$141.55	$147.52	90	4.39x	31.4%	SAFE	6	$15,930	$39,348	OK
SPCX +150C −195P +135P −125C	$111.05	150	195	135	125	$186.00	$181.25	60	3.22x	-21.6%	ITM	5	$13,500	$55,525	OK

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

Stock: $35.48 HP: 1.4% OTM Current hedge: $72,088/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $126,511/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	32	Nov 20	115d	9.8%	$7.50	$-0.20	$-400	$47,609	$50,021	$24,479	15	$6,000	3mo	0mo	1.94x	PASS
2	32	Oct 16	80d	9.8%	$6.25	$1.05	$2,100	$57,031	$57,305	$15,056	15	$6,000	5mo	1mo	1.94x	PASS
3	31	Nov 20	115d	12.6%	$7.00	$0.30	$600	$44,435	$52,243	$27,653	16	$8,000	3mo	1mo	2.00x	PASS
4	31	Oct 16	80d	12.6%	$5.80	$1.50	$3,000	$52,925	$61,867	$19,162	16	$8,000	5mo	1mo	2.00x	PASS
5	30	Nov 20	115d	15.4%	$6.45	$0.85	$1,700	$40,943	$58,590	$31,144	17	$10,000	4mo	1mo	2.06x	PASS
6	30	Oct 16	80d	15.4%	$5.20	$2.10	$4,200	$47,450	$73,274	$24,638	17	$10,000	5mo	1mo	2.06x	PASS
7	29	Nov 20	115d	18.3%	$6.05	$1.25	$2,500	$38,404	$59,225	$33,683	18	$12,000	4mo	1mo	2.12x	PASS
8	29	Oct 16	80d	18.3%	$4.80	$2.50	$5,000	$43,800	$74,642	$28,288	18	$12,000	5mo	1mo	2.12x	PASS
9	28	Nov 20	115d	21.1%	$5.45	$1.85	$3,700	$34,596	$58,083	$37,492	19	$14,000	4mo	1mo	2.19x	PASS
10	28	Oct 16	80d	21.1%	$4.45	$2.85	$5,700	$40,606	$72,088	$31,481	19	$14,000	5mo	1mo	2.19x	PASS
11	27	Nov 20	115d	23.9%	$5.10	$2.20	$4,400	$32,374	$54,274	$39,714	20	$16,000	5mo	1mo	2.25x	PASS
12	27	Oct 16	80d	23.9%	$3.95	$3.35	$6,700	$36,044	$67,069	$36,044	20	$16,000	5mo	1mo	2.25x	PASS
13	26	Nov 20	115d	26.7%	$4.55	$2.75	$5,500	$28,883	$47,609	$43,205	21	$18,000	5mo	1mo	2.31x	PASS
14	26	Oct 16	80d	26.7%	$3.65	$3.65	$7,300	$33,306	$57,031	$38,781	21	$18,000	6mo	1mo	2.31x	PASS
15	25	Nov 20	115d	29.5%	$4.10	$3.20	$6,400	$26,026	$44,435	$46,061	22	$20,000	5mo	1mo	2.38x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $1.20	$27,871/yr	$47,609/yr	DEFICIT $1,645/mo
CC at MID $44 0.7σ, B $2.61	$60,619/yr	$47,609/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $35.48 → $28.38, hedge $50,021/yr)
CC at SS vs stressed	$27,871/yr	$50,021/yr	DEFICIT $1,846/mo
CC at MID vs stressed	$60,619/yr	$50,021/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($44, bid $2.61). 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	32	Nov 20	115d	9.8%	$7.50	$-0.20	$-400	$47,609	$50,021	$24,479	15	$6,000	3mo	0mo	1.94x	PASS
2	32	Oct 16	80d	9.8%	$6.25	$1.05	$2,100	$57,031	$57,305	$15,056	15	$6,000	5mo	1mo	1.94x	PASS
3	31	Nov 20	115d	12.6%	$7.00	$0.30	$600	$44,435	$52,243	$27,653	16	$8,000	3mo	1mo	2.00x	PASS
4	31	Oct 16	80d	12.6%	$5.80	$1.50	$3,000	$52,925	$61,867	$19,162	16	$8,000	5mo	1mo	2.00x	PASS
5	30	Nov 20	115d	15.4%	$6.45	$0.85	$1,700	$40,943	$58,590	$31,144	17	$10,000	4mo	1mo	2.06x	PASS
6	30	Oct 16	80d	15.4%	$5.20	$2.10	$4,200	$47,450	$73,274	$24,638	17	$10,000	5mo	1mo	2.06x	PASS
7	29	Nov 20	115d	18.3%	$6.05	$1.25	$2,500	$38,404	$59,225	$33,683	18	$12,000	4mo	1mo	2.12x	PASS
8	29	Oct 16	80d	18.3%	$4.80	$2.50	$5,000	$43,800	$74,642	$28,288	18	$12,000	5mo	1mo	2.12x	PASS
9	28	Nov 20	115d	21.1%	$5.45	$1.85	$3,700	$34,596	$58,083	$37,492	19	$14,000	4mo	1mo	2.19x	PASS
10	28	Oct 16	80d	21.1%	$4.45	$2.85	$5,700	$40,606	$72,088	$31,481	19	$14,000	5mo	1mo	2.19x	PASS
11	27	Nov 20	115d	23.9%	$5.10	$2.20	$4,400	$32,374	$54,274	$39,714	20	$16,000	5mo	1mo	2.25x	PASS
12	27	Oct 16	80d	23.9%	$3.95	$3.35	$6,700	$36,044	$67,069	$36,044	20	$16,000	5mo	1mo	2.25x	PASS
13	26	Nov 20	115d	26.7%	$4.55	$2.75	$5,500	$28,883	$47,609	$43,205	21	$18,000	5mo	1mo	2.31x	PASS
14	26	Oct 16	80d	26.7%	$3.65	$3.65	$7,300	$33,306	$57,031	$38,781	21	$18,000	6mo	1mo	2.31x	PASS
15	25	Nov 20	115d	29.5%	$4.10	$3.20	$6,400	$26,026	$44,435	$46,061	22	$20,000	5mo	1mo	2.38x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $1.20	$27,871/yr	$47,609/yr	DEFICIT $1,645/mo
CC at MID $44 0.7σ, B $2.61	$60,619/yr	$47,609/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $35.48 → $28.38, hedge $50,021/yr)
CC at SS vs stressed	$27,871/yr	$50,021/yr	DEFICIT $1,846/mo
CC at MID vs stressed	$60,619/yr	$50,021/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($44, bid $2.61). 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 (no viable candidates)

Stock: $5.33 Current HP: 8P (115d, -40.7% OTM) Current hedge: $23,408/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).