Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$159,103/yr

TOTAL HEDGE (REPAIRED)

$106,593/yr

ANNUAL SAVINGS

$52,510/yr

ROLL CREDITS

-$2,400

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	$35.51	25	47	35	0	$44.00	$50.66	12	1.75x	1.4%	TIGHT	20	$32,000	$71,010	REPAIR PLAN (78d)
IREN (Main) → +25C −47P +35P	$35.51	25	47	35	0	$44.00	$50.66	12	1.75x	1.4%	TIGHT	20	$32,000	$71,010	REPAIR PLAN (78d)
UAMY → +10C −12P +8P −7C	$5.11	10	12	8	7	$12.45	$13.14	5	3.08x	-46.9%	ITM	25	$6,000	$12,763	REPAIR PLAN (113d)
GOOG (Joint) +310C −350C	$332.14	310	0	0	350	$392.50	$344.39	0	1.00x	0.0%	N/A	5	$41,250	$166,070	LEAPS-ONLY
IBIT +75C	$36.73	75	0	0	0	$70.58	$49.11	0	1.00x	0.0%	N/A	50	$22,328	$183,675	LEAPS-ONLY
IGV +70C	$92.26	70	0	0	0	$96.50	$86.69	0	1.00x	0.0%	N/A	12	$31,800	$110,706	LEAPS-ONLY
MARA (Main) +40C −16C	$11.29	40	0	0	16	$40.55	$15.14	0	1.00x	0.0%	N/A	200	$11,000	$225,700	LEAPS-ONLY
MSTR (Joint) +180C −110C	$95.84	180	0	0	110	$233.00	$154.15	0	1.00x	0.0%	N/A	10	$53,000	$95,845	LEAPS-ONLY
SPY +640C	$735.93	640	0	0	0	$764.00	$698.17	0	1.00x	0.0%	N/A	12	$148,800	$883,116	LEAPS-ONLY
AMZN +215C −260P +230P	$233.91	215	260	230	0	$256.25	$242.92	30	1.80x	1.7%	TIGHT	10	$37,500	$233,910	OK
APP +460C −540P +185P	$398.13	460	540	185	0	$588.00	$608.46	355	3.77x	53.5%	SAFE	1	$12,800	$39,814	OK
BMNR (Joint) +23C −65P +25P −20C	$17.44	23	65	25	20	$30.29	$8.72	40	0.00x	-43.3%	ITM	150	$0	$261,600	OK
BMNR (Main) +25C −45P +15P −20C	$17.44	25	45	15	20	$44.46	—	30	2.59x	14.0%	SAFE	50	$94,550	$87,200	OK
BMNR (Main) +23C −65P +25P −20C	$17.44	23	65	25	20	$39.13	$8.72	40	0.00x	-43.3%	ITM	75	$0	$130,800	OK
BMNR (RetireInc) +10C −18P +10P −20C	$17.44	10	18	10	20	$17.13	$19.85	8	2.28x	42.7%	SAFE	50	$31,250	$87,200	OK
CLSK +17C −17P +10P	$13.72	17	17	10	0	$20.74	$17.70	7	2.87x	27.1%	SAFE	25	$9,350	$34,312	OK
COIN (Main) +165C −240P +85P −180C	$161.86	165	240	85	180	$210.90	$216.49	155	10.23x	47.5%	SAFE	8	$13,440	$129,488	OK
COIN (Main) +500C −330P +300P −180C	$161.86	500	330	300	180	$563.00	$337.90	30	1.48x	-85.3%	ITM	25	$157,500	$404,650	OK
COIN (RetireInc) +145C −200P +75P −195C	$161.86	145	200	75	195	$182.40	$189.67	125	7.31x	53.7%	SAFE	3	$5,940	$48,558	OK
COPX +65C −90P +68P	$78.17	65	90	68	0	$93.40	$95.22	22	1.77x	13.0%	SAFE	20	$56,800	$156,340	OK
CRWV +105C −120P +40P	$70.40	105	120	40	0	$125.45	$129.91	80	4.91x	43.2%	SAFE	5	$10,225	$35,200	OK
DELL +340C −390P +150P −475C	$393.99	340	390	150	475	$398.00	$410.25	240	5.14x	61.9%	SAFE	3	$17,400	$118,197	OK
ENPH +45C −60P +20P	$35.76	45	60	20	0	$56.15	$58.88	40	6.48x	44.1%	SAFE	10	$7,300	$35,760	OK
ETHA +13C −16P +10P	$14.52	13	16	10	0	$17.33	$17.69	6	2.39x	31.1%	SAFE	50	$21,650	$72,600	OK
GLD +320C −450P +330P −390C	$375.46	320	450	330	390	$456.00	$471.21	120	1.88x	12.1%	SAFE	10	$136,000	$375,460	OK
GLXY +38C −38P +18P	$20.22	38	38	18	0	$39.71	$34.80	20	10.05x	13.4%	SAFE	125	$27,625	$252,735	OK
GOOG (Neville) +300C −345P +310P −350C	$332.14	300	345	310	350	$373.00	$342.61	35	1.48x	6.7%	OK	15	$109,500	$498,210	OK
GOOG (Neville) +340C −405P +360P −350C	$332.14	340	405	360	350	$398.00	$379.99	45	1.88x	-8.4%	ITM	5	$25,500	$166,070	OK
HIMS +10C −20P +5P	$25.72	10	20	5	0	$17.47	$19.86	15	4.04x	80.6%	SAFE	15	$7,395	$38,580	OK
INTC +85C −100P +35P	$88.55	85	100	35	0	$114.00	$118.90	65	3.24x	60.5%	SAFE	5	$14,500	$44,272	OK
IREN (Neville) +45C −65P +21P	$35.51	45	65	21	0	$56.50	$60.44	44	15.67x	40.9%	SAFE	20	$6,000	$71,010	OK
IREN (RetireInc) +50C −70P +23P	$35.51	50	70	23	0	$63.43	$69.15	47	7.86x	35.2%	SAFE	20	$13,700	$71,010	OK
MARA (Joint) +20C −17P +10P −16C	$11.29	20	17	10	16	$24.33	$19.48	7	2.62x	11.4%	SAFE	50	$21,650	$56,425	OK
MARA (Main) +20C −25P +15P −16C	$11.29	20	25	15	16	$22.69	$19.06	10	27.32x	-32.9%	ITM	200	$7,600	$225,700	OK
MARA (Neville) +25C −15P +13P −16C	$11.29	25	15	13	16	$26.40	$16.99	2	2.43x	-15.2%	ITM	250	$35,000	$282,125	OK
MDB +270C −340P +150P −355C	$320.00	270	340	150	355	$362.90	$378.63	190	3.05x	53.1%	SAFE	1	$9,290	$32,000	OK
META +480C −650P +330P −638C	$531.40	480	650	330	638	$601.50	$611.48	320	5.38x	37.9%	SAFE	3	$21,900	$159,422	OK
MSTR (RetireInc) +125C −185P +55P −110C	$95.84	125	185	55	110	$161.00	$168.65	130	11.83x	42.6%	SAFE	4	$4,800	$38,338	OK
MU (Joint) +670C −800P +420P	$810.14	670	800	420	0	$792.36	$812.54	380	4.31x	48.2%	SAFE	1	$11,472	$81,014	OK
MU (Main) +880C −1010P +320P	$810.14	880	1010	320	0	$1028.60	$1059.64	690	5.64x	60.5%	SAFE	5	$74,300	$405,072	OK
MU (Neville) +970C −1110P +370P	$810.14	970	1110	370	0	$1220.00	$1253.57	740	3.96x	54.3%	SAFE	2	$50,000	$162,029	OK
NEM +88C −105P +75P	$93.29	88	105	75	0	$114.54	$118.84	30	2.11x	19.6%	SAFE	5	$13,520	$46,645	OK
NOW +80C −110P +90P −120C	$109.36	80	110	90	120	$108.93	$114.26	20	1.72x	17.7%	SAFE	10	$27,850	$109,365	OK
NVDA +140C −175P +70P −210C	$192.18	140	175	70	210	$199.60	$203.20	105	2.76x	63.6%	SAFE	5	$29,800	$96,090	OK
QCOM +190C −210P +90P	$146.68	190	210	90	0	$224.00	$228.04	120	4.53x	38.6%	SAFE	5	$17,000	$73,338	OK
RKLB +115C −135P +45P	$61.28	115	135	45	0	$141.55	$149.79	90	4.39x	26.6%	SAFE	6	$15,930	$36,768	OK
SPCX +150C −195P +135P −125C	$114.86	150	195	135	125	$186.00	$183.17	60	3.22x	-17.5%	ITM	5	$13,500	$57,430	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 78d

Stock: $35.51 HP: 1.4% OTM Current hedge: $79,551/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $106,479/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	113d	9.9%	$8.25	$-0.60	$-1,200	$53,296	$59,789	$26,255	15	$6,000	3mo	1mo	1.94x	PASS
2	32	Oct 16	78d	9.9%	$7.25	$0.40	$800	$67,853	$64,156	$11,699	15	$6,000	6mo	1mo	1.94x	PASS
3	31	Nov 20	113d	12.7%	$8.20	$-0.55	$-1,100	$52,973	$61,727	$26,578	16	$8,000	4mo	1mo	2.00x	PASS
4	31	Oct 16	78d	12.7%	$6.75	$0.90	$1,800	$63,173	$74,451	$16,378	16	$8,000	6mo	1mo	2.00x	PASS
5	30	Nov 20	113d	15.5%	$7.65	$0.00	$0	$49,420	$66,249	$30,131	17	$10,000	4mo	1mo	2.06x	PASS
6	30	Oct 16	78d	15.5%	$5.45	$2.20	$4,400	$51,006	$73,983	$28,545	17	$10,000	4mo	1mo	2.06x	PASS
7	29	Nov 20	113d	18.3%	$6.60	$1.05	$2,100	$42,637	$68,510	$36,914	18	$12,000	4mo	1mo	2.12x	PASS
8	29	Oct 16	78d	18.3%	$5.75	$1.90	$3,800	$53,814	$84,746	$25,737	18	$12,000	6mo	1mo	2.12x	PASS
9	28	Nov 20	113d	21.1%	$6.10	$1.55	$3,100	$39,407	$64,602	$40,144	19	$14,000	4mo	1mo	2.19x	PASS
10	28	Oct 16	78d	21.1%	$5.30	$2.35	$4,700	$49,603	$79,083	$29,949	19	$14,000	6mo	1mo	2.19x	PASS
11	27	Nov 20	113d	24.0%	$5.40	$2.25	$4,500	$34,885	$63,956	$44,666	20	$16,000	4mo	1mo	2.25x	PASS
12	27	Oct 16	78d	24.0%	$4.85	$2.80	$5,600	$45,391	$70,660	$34,160	20	$16,000	6mo	1mo	2.25x	PASS
13	26	Nov 20	113d	26.8%	$5.70	$1.95	$3,900	$36,823	$53,296	$42,728	21	$18,000	5mo	1mo	2.31x	PASS
14	26	Oct 16	78d	26.8%	$4.40	$3.25	$6,500	$41,179	$67,853	$38,372	21	$18,000	6mo	1mo	2.31x	PASS
15	25	Nov 20	113d	29.6%	$5.15	$2.50	$5,000	$33,270	$52,973	$46,281	22	$20,000	5mo	2mo	2.38x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $0.01	$200/yr	$53,296/yr	DEFICIT $4,425/mo
CC at MID $45 0.7σ, B $1.90	$38,000/yr	$53,296/yr	DEFICIT $1,275/mo
AT 20% DRAWDOWN (stock $35.51 → $28.40, hedge $59,789/yr)
CC at SS vs stressed	$200/yr	$59,789/yr	DEFICIT $4,966/mo
CC at MID vs stressed	$38,000/yr	$59,789/yr	DEFICIT $1,816/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.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 78d

#	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	113d	9.9%	$8.25	$-0.60	$-1,200	$53,296	$59,789	$26,255	15	$6,000	3mo	1mo	1.94x	PASS
2	32	Oct 16	78d	9.9%	$7.25	$0.40	$800	$67,853	$64,156	$11,699	15	$6,000	6mo	1mo	1.94x	PASS
3	31	Nov 20	113d	12.7%	$8.20	$-0.55	$-1,100	$52,973	$61,727	$26,578	16	$8,000	4mo	1mo	2.00x	PASS
4	31	Oct 16	78d	12.7%	$6.75	$0.90	$1,800	$63,173	$74,451	$16,378	16	$8,000	6mo	1mo	2.00x	PASS
5	30	Nov 20	113d	15.5%	$7.65	$0.00	$0	$49,420	$66,249	$30,131	17	$10,000	4mo	1mo	2.06x	PASS
6	30	Oct 16	78d	15.5%	$5.45	$2.20	$4,400	$51,006	$73,983	$28,545	17	$10,000	4mo	1mo	2.06x	PASS
7	29	Nov 20	113d	18.3%	$6.60	$1.05	$2,100	$42,637	$68,510	$36,914	18	$12,000	4mo	1mo	2.12x	PASS
8	29	Oct 16	78d	18.3%	$5.75	$1.90	$3,800	$53,814	$84,746	$25,737	18	$12,000	6mo	1mo	2.12x	PASS
9	28	Nov 20	113d	21.1%	$6.10	$1.55	$3,100	$39,407	$64,602	$40,144	19	$14,000	4mo	1mo	2.19x	PASS
10	28	Oct 16	78d	21.1%	$5.30	$2.35	$4,700	$49,603	$79,083	$29,949	19	$14,000	6mo	1mo	2.19x	PASS
11	27	Nov 20	113d	24.0%	$5.40	$2.25	$4,500	$34,885	$63,956	$44,666	20	$16,000	4mo	1mo	2.25x	PASS
12	27	Oct 16	78d	24.0%	$4.85	$2.80	$5,600	$45,391	$70,660	$34,160	20	$16,000	6mo	1mo	2.25x	PASS
13	26	Nov 20	113d	26.8%	$5.70	$1.95	$3,900	$36,823	$53,296	$42,728	21	$18,000	5mo	1mo	2.31x	PASS
14	26	Oct 16	78d	26.8%	$4.40	$3.25	$6,500	$41,179	$67,853	$38,372	21	$18,000	6mo	1mo	2.31x	PASS
15	25	Nov 20	113d	29.6%	$5.15	$2.50	$5,000	$33,270	$52,973	$46,281	22	$20,000	5mo	2mo	2.38x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $0.01	$200/yr	$53,296/yr	DEFICIT $4,425/mo
CC at MID $45 0.7σ, B $1.90	$38,000/yr	$53,296/yr	DEFICIT $1,275/mo
AT 20% DRAWDOWN (stock $35.51 → $28.40, hedge $59,789/yr)
CC at SS vs stressed	$200/yr	$59,789/yr	DEFICIT $4,966/mo
CC at MID vs stressed	$38,000/yr	$59,789/yr	DEFICIT $1,816/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, 113d (no viable candidates)

Stock: $5.11 Current HP: 8P (113d, -46.9% 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).