GENERATED2026-07-28 21:39
FORTRESS REPAIRHP Roll-Down Analysis
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)
TOTAL HEDGE (CURRENT)
$155,125/yr
TOTAL HEDGE (REPAIRED)
$95,852/yr
ANNUAL SAVINGS
$59,273/yr
ROLL CREDITS
$1,200
ADDITIONAL MAX LOSS
$16,000
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

FORTRESSSTOCKLCSPHPSC BE‑SS CC‑SS GAPRMHP OTM%STATUSCTRSICNOTIONALURGENCY
IREN (Joint) →
+25C −47P +35P −40C
 $33.91 2547 3540 $44.00 $49.16 121.75x -3.2% ITM 20 $32,000$67,820 REPAIR PLAN (80d)
IREN (Main) →
+25C −47P +35P −40C
 $33.91 2547 3540 $44.00 $49.16 121.75x -3.2% ITM 20 $32,000$67,820 REPAIR PLAN (80d)
UAMY →
+10C −12P +8P −7C
 $5.07 1012 87 $12.45 $13.01 53.08x -48.1% ITM 25 $6,000$12,663 REPAIR PLAN (115d)
GOOG (Joint)
+310C −340C
 $328.50 3100 0340 $392.50 $343.38 01.00x 0.0% N/A 5 $41,250$164,250 LEAPS-ONLY
IBIT
+75C
 $35.73 750 00 $70.58 $48.72 01.00x 0.0% N/A 50 $22,328$178,625 LEAPS-ONLY
IGV
+70C
 $91.05 700 00 $96.50 $86.82 01.00x 0.0% N/A 12 $31,800$109,260 LEAPS-ONLY
MARA (Main)
+40C −16C
 $10.84 400 016 $40.55 $14.35 01.00x 0.0% N/A 200 $11,000$216,700 LEAPS-ONLY
MSTR (Joint)
+180C −110C
 $95.19 1800 0110 $233.00 $151.60 01.00x 0.0% N/A 10 $53,000$95,195 LEAPS-ONLY
SPY
+640C −750C
 $738.15 6400 0750 $764.00 $695.26 01.00x 0.0% N/A 12 $148,800$885,786 LEAPS-ONLY
AMZN
+215C −260P +230P −255C
 $231.21 215260 230255 $256.25 $242.44 301.80x 0.5% TIGHT 10 $37,500$231,210 OK
APP
+460C −540P +185P −435C
 $411.12 460540 185435 $588.00 $602.42 3553.77x 55.0% SAFE 1 $12,800$41,112 OK
BMNR (Joint)
+23C −65P +25P −21C
 $16.61 2365 2521 $30.29 $8.30 400.00x -50.5% ITM 150 $0$249,150 OK
BMNR (Main)
+25C −45P +15P −21C
 $16.61 2545 1521 $44.46 — 302.59x 9.7% OK 50 $94,550$83,050 OK
BMNR (Main)
+23C −65P +25P −21C
 $16.61 2365 2521 $39.13 $8.30 400.00x -50.5% ITM 75 $0$124,575 OK
BMNR (RetireInc)
+10C −18P +10P −20C
 $16.61 1018 1020 $17.13 $19.34 82.28x 39.8% SAFE 50 $31,250$83,050 OK
CLSK
+17C −17P +10P
 $12.94 1717 100 $20.74 $17.07 72.87x 22.7% SAFE 25 $9,350$32,338 OK
COIN (Main)
+165C −240P +85P −180C
 $161.10 165240 85180 $210.90 $216.16 15510.23x 47.2% SAFE 8 $13,440$128,880 OK
COIN (Main)
+500C −330P +300P −180C
 $161.10 500330 300180 $563.00 $337.41 301.48x -86.2% ITM 25 $157,500$402,750 OK
COIN (RetireInc)
+145C −200P +75P −195C
 $161.10 145200 75195 $182.40 $186.08 1257.31x 53.4% SAFE 3 $5,940$48,330 OK
COPX
+65C −90P +68P −80C
 $75.47 6590 6880 $93.40 $95.29 221.77x 9.9% OK 20 $56,800$150,940 OK
CRWV
+105C −120P +40P −97C
 $66.45 105120 4097 $125.45 $127.99 804.91x 39.8% SAFE 5 $10,225$33,225 OK
DELL
+340C −390P +150P −475C
 $381.85 340390 150475 $398.00 $410.48 2405.14x 60.7% SAFE 3 $17,400$114,555 OK
ENPH
+45C −60P +20P
 $36.08 4560 200 $56.15 $57.91 406.48x 44.6% SAFE 10 $7,300$36,080 OK
ETHA
+13C −16P +10P
 $14.12 1316 100 $17.33 $17.90 62.39x 29.2% SAFE 50 $21,650$70,600 OK
GLD
+320C −450P +330P −390C
 $369.15 320450 330390 $456.00 $471.46 1201.88x 10.6% SAFE 10 $136,000$369,155 OK
GLXY
+38C −38P +18P
 $20.89 3838 180 $39.71 $33.72 2010.05x 16.2% SAFE 125 $27,625$261,125 OK
GOOG (Neville)
+300C −345P +310P −340C
 $328.50 300345 310340 $373.00 $342.44 351.48x 5.6% OK 15 $109,500$492,749 OK
GOOG (Neville)
+340C −405P +360P −340C
 $328.50 340405 360340 $398.00 $380.27 451.88x -9.6% ITM 5 $25,500$164,250 OK
HIMS
+10C −20P +5P −35C
 $29.83 1020 535 $17.47 $19.55 154.04x 83.2% SAFE 15 $7,395$44,745 OK
INTC
+85C −100P +35P
 $86.22 85100 350 $114.00 $116.09 653.24x 59.4% SAFE 5 $14,500$43,110 OK
IREN (Neville)
+45C −65P +21P −40C
 $33.91 4565 2140 $56.50 $58.30 4415.67x 38.1% SAFE 20 $6,000$67,820 OK
IREN (RetireInc)
+50C −70P +23P −40C
 $33.91 5070 2340 $63.43 $67.14 477.86x 32.2% SAFE 20 $13,700$67,820 OK
MARA (Joint)
+20C −17P +10P −16C
 $10.84 2017 1016 $24.33 $18.46 72.62x 7.7% OK 50 $21,650$54,175 OK
MARA (Main)
+20C −25P +15P −16C
 $10.84 2025 1516 $22.69 $18.10 1027.32x -38.4% ITM 200 $7,600$216,700 OK
MARA (Neville)
+25C −15P +13P −16C
 $10.84 2515 1316 $26.40 $15.06 22.43x -20.0% ITM 250 $35,000$270,875 OK
MDB
+270C −340P +150P −325C
 $305.19 270340 150325 $362.90 $378.96 1903.05x 50.9% SAFE 1 $9,290$30,519 OK
META
+480C −650P +330P −638C
 $599.12 480650 330638 $601.50 $607.24 3205.38x 44.9% SAFE 3 $21,900$179,736 OK
MSTR (RetireInc)
+125C −185P +55P −110C
 $95.19 125185 55110 $161.00 $166.93 13011.83x 42.2% SAFE 4 $4,800$38,078 OK
MU (Main)
+880C −1010P +320P −1000C
 $821.82 8801010 3201000 $1028.60 $1055.13 6905.64x 61.1% SAFE 5 $74,300$410,910 OK
MU (Neville)
+970C −1110P +370P −1020C
 $821.82 9701110 3701020 $1220.00 $1245.02 7403.96x 55.0% SAFE 2 $50,000$164,364 OK
NEM
+88C −105P +75P −106C
 $91.26 88105 75106 $114.54 $117.93 302.11x 17.8% SAFE 5 $13,520$45,630 OK
NOW
+80C −110P +90P −120C
 $108.97 80110 90120 $108.93 $114.44 201.72x 17.4% SAFE 10 $27,850$108,970 OK
NVDA
+140C −175P +70P −210C
 $194.22 140175 70210 $199.60 $202.91 1052.76x 64.0% SAFE 5 $29,800$97,110 OK
QCOM
+190C −210P +90P −208C
 $165.51 190210 90208 $224.00 $228.18 1204.53x 45.6% SAFE 5 $17,000$82,755 OK
RIOT
+17C −40P +17P
 $20.28 1740 170 $23.65 $30.77 238.01x 16.2% SAFE 50 $16,400$101,400 OK
RKLB
+115C −135P +45P −72C
 $61.97 115135 4572 $141.55 $148.02 904.39x 27.4% SAFE 6 $15,930$37,182 OK
SPCX
+150C −195P +135P −125C
 $107.91 150195 135125 $186.00 $182.20 603.22x -25.1% ITM 5 $13,500$53,955 OK

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

Stock: $33.91 HP: ITM Current hedge: $77,562/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $115,003/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 16 PASS
RECOMMENDED: Roll HP 35 → 31 (Nov 20, 115d) | Save $29,636/yr | Payback 3mo (0.27yr) hedge only, 1mo (0.06yr) w/income (gate: 12mo (1.0yr)) | HP moves to 8.6% OTM | RM 1.75x → 2.00x | Margin (TIMS): $1,191
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 31 Nov 20 115d 8.6% $7.55 $0.30 $600 $47,926 $49,894 $29,636 16 $8,000 3mo 1mo 2.00x PASS
2 31 Oct 16 80d 8.6% $6.25 $1.60 $3,200 $57,031 $55,297 $20,531 16 $8,000 5mo 1mo 2.00x PASS
3 30 Nov 20 115d 11.5% $7.00 $0.85 $1,700 $44,435 $51,481 $33,128 17 $10,000 4mo 1mo 2.06x PASS
4 30 Oct 16 80d 11.5% $5.75 $2.10 $4,200 $52,469 $62,141 $25,094 17 $10,000 5mo 1mo 2.06x PASS
5 29 Nov 20 115d 14.5% $6.45 $1.40 $2,800 $40,943 $53,703 $36,619 18 $12,000 4mo 1mo 2.12x PASS
6 29 Oct 16 80d 14.5% $5.25 $2.60 $5,200 $47,906 $64,879 $29,656 18 $12,000 5mo 1mo 2.12x PASS
7 28 Nov 20 115d 17.4% $5.95 $1.90 $3,800 $37,770 $56,242 $39,793 19 $14,000 4mo 1mo 2.19x PASS
8 28 Oct 16 80d 17.4% $4.80 $3.05 $6,100 $43,800 $68,529 $33,762 19 $14,000 5mo 1mo 2.19x PASS
9 27 Nov 20 115d 20.4% $5.40 $2.45 $4,900 $34,278 $58,781 $43,284 20 $16,000 4mo 1mo 2.25x PASS
10 27 Oct 16 80d 20.4% $4.35 $3.50 $7,000 $39,694 $72,179 $37,869 20 $16,000 5mo 1mo 2.25x PASS
11 26 Nov 20 115d 23.3% $5.00 $2.85 $5,700 $31,739 $51,735 $45,823 21 $18,000 5mo 1mo 2.31x PASS
12 26 Oct 16 80d 23.3% $4.00 $3.85 $7,700 $36,500 $62,962 $41,062 21 $18,000 5mo 1mo 2.31x PASS
13 25 Nov 20 115d 26.3% $4.50 $3.35 $6,700 $28,565 $47,926 $48,997 22 $20,000 5mo 1mo 2.38x PASS
14 25 Oct 16 80d 26.3% $3.50 $4.35 $8,700 $31,938 $57,031 $45,625 22 $20,000 5mo 1mo 2.38x PASS
15 24 Nov 20 115d 29.2% $4.10 $3.75 $7,500 $26,026 $44,435 $51,536 23 $22,000 5mo 2mo 2.44x PASS
POST-REPAIR SUSTAINABILITY CC chain Aug 28 (31d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $50, B $1.20 $27,871/yr $47,926/yr DEFICIT $1,671/mo
CC at MID $42 0.7σ, B $2.20 $51,097/yr $47,926/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $33.91 → $27.13, hedge $49,894/yr)
CC at SS vs stressed $27,871/yr $49,894/yr DEFICIT $1,835/mo
CC at MID vs stressed $51,097/yr $49,894/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at MID ($42, bid $2.20). 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

Stock: $33.91 HP: ITM Current hedge: $77,562/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $115,003/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 16 PASS
RECOMMENDED: Roll HP 35 → 31 (Nov 20, 115d) | Save $29,636/yr | Payback 3mo (0.27yr) hedge only, 1mo (0.06yr) w/income (gate: 12mo (1.0yr)) | HP moves to 8.6% OTM | RM 1.75x → 2.00x | Margin (TIMS): $1,192
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 31 Nov 20 115d 8.6% $7.55 $0.30 $600 $47,926 $49,894 $29,636 16 $8,000 3mo 1mo 2.00x PASS
2 31 Oct 16 80d 8.6% $6.25 $1.60 $3,200 $57,031 $55,297 $20,531 16 $8,000 5mo 1mo 2.00x PASS
3 30 Nov 20 115d 11.5% $7.00 $0.85 $1,700 $44,435 $51,481 $33,128 17 $10,000 4mo 1mo 2.06x PASS
4 30 Oct 16 80d 11.5% $5.75 $2.10 $4,200 $52,469 $62,141 $25,094 17 $10,000 5mo 1mo 2.06x PASS
5 29 Nov 20 115d 14.5% $6.45 $1.40 $2,800 $40,943 $53,703 $36,619 18 $12,000 4mo 1mo 2.12x PASS
6 29 Oct 16 80d 14.5% $5.25 $2.60 $5,200 $47,906 $64,879 $29,656 18 $12,000 5mo 1mo 2.12x PASS
7 28 Nov 20 115d 17.4% $5.95 $1.90 $3,800 $37,770 $56,242 $39,793 19 $14,000 4mo 1mo 2.19x PASS
8 28 Oct 16 80d 17.4% $4.80 $3.05 $6,100 $43,800 $68,529 $33,762 19 $14,000 5mo 1mo 2.19x PASS
9 27 Nov 20 115d 20.4% $5.40 $2.45 $4,900 $34,278 $58,781 $43,284 20 $16,000 4mo 1mo 2.25x PASS
10 27 Oct 16 80d 20.4% $4.35 $3.50 $7,000 $39,694 $72,179 $37,869 20 $16,000 5mo 1mo 2.25x PASS
11 26 Nov 20 115d 23.3% $5.00 $2.85 $5,700 $31,739 $51,735 $45,823 21 $18,000 5mo 1mo 2.31x PASS
12 26 Oct 16 80d 23.3% $4.00 $3.85 $7,700 $36,500 $62,962 $41,062 21 $18,000 5mo 1mo 2.31x PASS
13 25 Nov 20 115d 26.3% $4.50 $3.35 $6,700 $28,565 $47,926 $48,997 22 $20,000 5mo 1mo 2.38x PASS
14 25 Oct 16 80d 26.3% $3.50 $4.35 $8,700 $31,938 $57,031 $45,625 22 $20,000 5mo 1mo 2.38x PASS
15 24 Nov 20 115d 29.2% $4.10 $3.75 $7,500 $26,026 $44,435 $51,536 23 $22,000 5mo 2mo 2.44x PASS
POST-REPAIR SUSTAINABILITY CC chain Aug 28 (31d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $50, B $1.20 $27,871/yr $47,926/yr DEFICIT $1,671/mo
CC at MID $42 0.7σ, B $2.20 $51,097/yr $47,926/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $33.91 → $27.13, hedge $49,894/yr)
CC at SS vs stressed $27,871/yr $49,894/yr DEFICIT $1,835/mo
CC at MID vs stressed $51,097/yr $49,894/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at MID ($42, bid $2.20). 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: $5.07 Current HP: 8P (115d, -48.1% OTM) Current hedge: $0/yr Gap: 0 IV: MEDIUM
No HP candidates passed all filters. Reasons:
  • No candidate puts were priced for the roll-down DTE window. Try --hp-min-dte 60 or extend --hp-max-dte.

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).