Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$152,429/yr

TOTAL HEDGE (REPAIRED)

$98,420/yr

ANNUAL SAVINGS

$54,009/yr

ROLL CREDITS

-$5,400

ADDITIONAL MAX LOSS

$4,000

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	$37.20	25	47	35	0	$44.00	$50.41	12	1.75x	5.9%	OK	20	$32,000	$74,390	REPAIR PLAN (77d)
IREN (Main) → +25C −47P +35P	$37.20	25	47	35	0	$44.00	$50.41	12	1.75x	5.9%	OK	20	$32,000	$74,390	REPAIR PLAN (77d)
UAMY → +10C −12P +8P −7C	$5.28	10	12	8	7	$12.45	$13.20	5	3.08x	-42.2%	ITM	25	$6,000	$13,188	REPAIR PLAN (112d)
GOOG (Joint) +310C −350C	$334.12	310	0	0	350	$392.50	$343.87	0	1.00x	0.0%	N/A	5	$41,250	$167,062	LEAPS-ONLY
IBIT +75C	$36.70	75	0	0	0	$70.58	$49.23	0	1.00x	0.0%	N/A	50	$22,328	$183,475	LEAPS-ONLY
IGV +70C −97C	$93.23	70	0	0	97	$96.50	$87.72	0	1.00x	0.0%	N/A	12	$31,800	$111,882	LEAPS-ONLY
MARA (Main) +40C	$11.87	40	0	0	0	$40.55	$15.47	0	1.00x	0.0%	N/A	200	$11,000	$237,300	LEAPS-ONLY
MSTR (Joint) +180C −110C	$97.25	180	0	0	110	$233.00	$154.96	0	1.00x	0.0%	N/A	10	$53,000	$97,245	LEAPS-ONLY
SPY +640C	$741.70	640	0	0	0	$764.00	$697.81	0	1.00x	0.0%	N/A	12	$148,800	$890,034	LEAPS-ONLY
AMZN +215C −260P +230P	$239.42	215	260	230	0	$256.25	$242.34	30	1.80x	3.9%	TIGHT	10	$37,500	$239,420	OK
APP +460C −540P +185P	$403.55	460	540	185	0	$588.00	$608.15	355	3.77x	54.2%	SAFE	1	$12,800	$40,355	OK
BMNR (Joint) +23C −65P +25P −20C	$18.09	23	65	25	20	$30.29	$9.04	40	0.00x	-38.2%	ITM	150	$0	$271,275	OK
BMNR (Main) +25C −45P +15P −20C	$18.09	25	45	15	20	$44.46	$52.39	30	2.59x	17.1%	SAFE	50	$94,550	$90,425	OK
BMNR (Main) +23C −65P +25P −20C	$18.09	23	65	25	20	$39.13	$9.04	40	0.00x	-38.2%	ITM	75	$0	$135,638	OK
BMNR (RetireInc) +10C −18P +10P −20C	$18.09	10	18	10	20	$17.13	$19.55	8	2.28x	44.7%	SAFE	50	$31,250	$90,425	OK
CLSK +17C −17P +10P	$14.55	17	17	10	0	$20.74	$17.21	7	2.87x	31.3%	SAFE	25	$9,350	$36,375	OK
COIN (Main) +165C −240P +85P −185C	$163.91	165	240	85	185	$210.90	$217.01	155	10.23x	48.1%	SAFE	8	$13,440	$131,128	OK
COIN (Main) +500C −330P +300P −185C	$163.91	500	330	300	185	$563.00	$339.62	30	1.48x	-83.0%	ITM	25	$157,500	$409,775	OK
COIN (RetireInc) +145C −200P +75P −195C	$163.91	145	200	75	195	$182.40	$188.20	125	7.31x	54.2%	SAFE	3	$5,940	$49,173	OK
COPX +65C −90P +68P	$79.55	65	90	68	0	$93.40	$94.96	22	1.77x	14.5%	SAFE	20	$56,800	$159,090	OK
CRWV +105C −120P +40P	$74.52	105	120	40	0	$125.45	$129.31	80	4.91x	46.3%	SAFE	5	$10,225	$37,260	OK
DELL +340C −390P +150P −475C	$408.82	340	390	150	475	$398.00	$408.62	240	5.14x	63.3%	SAFE	3	$17,400	$122,646	OK
ENPH +45C −60P +20P −41C	$36.97	45	60	20	41	$56.15	$59.29	40	6.48x	45.9%	SAFE	10	$7,300	$36,970	OK
ETHA +13C −16P +10P	$14.54	13	16	10	0	$17.33	$17.93	6	2.39x	31.2%	SAFE	50	$21,650	$72,675	OK
GLD +320C −450P +330P −390C	$377.25	320	450	330	390	$456.00	$470.98	120	1.88x	12.5%	SAFE	10	$136,000	$377,255	OK
GLXY +38C −38P +18P	$21.50	38	38	18	0	$39.71	$34.02	20	10.05x	18.6%	SAFE	125	$27,625	$268,750	OK
GOOG (Neville) +300C −345P +310P −350C	$334.12	300	345	310	350	$373.00	$341.56	35	1.48x	7.2%	OK	15	$109,500	$501,188	OK
GOOG (Neville) +340C −405P +360P −350C	$334.12	340	405	360	350	$398.00	$380.06	45	1.88x	-7.7%	ITM	5	$25,500	$167,062	OK
HIMS +10C −20P +5P	$27.18	10	20	5	0	$17.47	$19.77	15	4.04x	81.6%	SAFE	15	$7,395	$40,778	OK
INTC +85C −100P +35P	$91.62	85	100	35	0	$114.00	$116.70	65	3.24x	61.8%	SAFE	5	$14,500	$45,810	OK
IREN (Neville) +45C −65P +21P	$37.20	45	65	21	0	$56.50	$58.97	44	15.67x	43.5%	SAFE	20	$6,000	$74,390	OK
IREN (RetireInc) +50C −70P +23P	$37.20	50	70	23	0	$63.43	$67.69	47	7.86x	38.2%	SAFE	20	$13,700	$74,390	OK
MARA (Joint) +20C −17P +10P	$11.87	20	17	10	0	$24.33	$19.62	7	2.62x	15.7%	SAFE	50	$21,650	$59,325	OK
MARA (Main) +20C −25P +15P	$11.87	20	25	15	0	$22.69	$17.87	10	27.32x	-26.4%	ITM	200	$7,600	$237,300	OK
MARA (Neville) +25C −15P +13P	$11.87	25	15	13	0	$26.40	$15.52	2	2.43x	-9.6%	ITM	250	$35,000	$296,625	OK
MDB +270C −340P +150P −355C	$324.80	270	340	150	355	$362.90	$378.71	190	3.05x	53.8%	SAFE	1	$9,290	$32,480	OK
META +480C −650P +330P −570C	$534.35	480	650	330	570	$601.50	$608.73	320	5.38x	38.2%	SAFE	3	$21,900	$160,304	OK
MSTR (RetireInc) +125C −185P +55P −110C	$97.25	125	185	55	110	$161.00	$168.76	130	11.83x	43.4%	SAFE	4	$4,800	$38,898	OK
MU (Joint) +670C −800P +420P −900C	$876.29	670	800	420	900	$792.36	$809.49	380	4.31x	52.1%	SAFE	1	$11,472	$87,630	OK
MU (Main) +880C −1010P +320P −900C	$876.29	880	1010	320	900	$1028.60	$1056.65	690	5.64x	63.5%	SAFE	5	$74,300	$438,148	OK
MU (Neville) +970C −1110P +370P −985C	$876.29	970	1110	370	985	$1220.00	$1246.54	740	3.96x	57.8%	SAFE	2	$50,000	$175,259	OK
NEM +88C −105P +75P −100C	$95.80	88	105	75	100	$114.54	$118.90	30	2.11x	21.7%	SAFE	5	$13,520	$47,900	OK
NOW +80C −110P +90P −120C	$110.09	80	110	90	120	$108.93	$114.79	20	1.72x	18.2%	SAFE	10	$27,850	$110,090	OK
NVDA +140C −175P +70P −205C	$194.09	140	175	70	205	$199.60	$202.80	105	2.76x	63.9%	SAFE	5	$29,800	$97,048	OK
QCOM +190C −210P +90P −165C	$151.29	190	210	90	165	$224.00	$228.92	120	4.53x	40.5%	SAFE	5	$17,000	$75,648	OK
RKLB +115C −135P +45P	$64.53	115	135	45	0	$141.55	$149.38	90	4.39x	30.3%	SAFE	6	$15,930	$38,718	OK
SPCX +150C −195P +135P	$111.85	150	195	135	0	$186.00	$183.01	60	3.22x	-20.7%	ITM	5	$13,500	$55,925	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 77d

Stock: $37.20 HP: 5.9% OTM Current hedge: $63,994/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $118,586/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	112d	8.6%	$7.55	$-1.35	$-2,700	$49,210	$51,458	$14,784	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	77d	8.6%	$6.25	$-0.05	$-100	$59,253	$56,836	$4,740	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	112d	11.3%	$7.10	$-0.90	$-1,800	$46,277	$53,740	$17,717	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	77d	11.3%	$5.60	$0.60	$1,200	$53,091	$62,998	$10,903	14	$4,000	4mo	0mo	1.88x	PASS
5	32	Nov 20	112d	14.0%	$6.50	$-0.30	$-600	$42,366	$54,717	$21,627	15	$6,000	3mo	1mo	1.94x	PASS
6	32	Oct 16	77d	14.0%	$5.15	$1.05	$2,100	$48,825	$65,368	$15,169	15	$6,000	5mo	1mo	1.94x	PASS
7	31	Nov 20	112d	16.7%	$6.25	$-0.05	$-100	$40,737	$57,976	$23,257	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	77d	16.7%	$4.80	$1.40	$2,800	$45,506	$69,634	$18,487	16	$8,000	5mo	1mo	2.00x	PASS
9	30	Nov 20	112d	19.3%	$5.60	$0.60	$1,200	$36,500	$61,594	$27,494	17	$10,000	4mo	1mo	2.06x	PASS
10	30	Oct 16	77d	19.3%	$4.30	$1.90	$3,800	$40,766	$74,422	$23,227	17	$10,000	5mo	1mo	2.06x	PASS
11	29	Nov 20	112d	22.0%	$5.10	$1.10	$2,200	$33,241	$57,683	$30,752	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	77d	22.0%	$3.90	$2.30	$4,600	$36,974	$69,208	$27,019	18	$12,000	5mo	1mo	2.12x	PASS
13	28	Nov 20	112d	24.7%	$4.65	$1.55	$3,100	$30,308	$52,795	$33,685	19	$14,000	5mo	1mo	2.19x	PASS
14	28	Oct 16	77d	24.7%	$3.50	$2.70	$5,400	$33,182	$63,994	$30,812	19	$14,000	5mo	1mo	2.19x	PASS
15	27	Nov 20	112d	27.4%	$4.35	$1.85	$3,700	$28,353	$49,210	$35,641	20	$16,000	5mo	1mo	2.25x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $1.38	$28,389/yr	$49,210/yr	DEFICIT $1,735/mo
CC at MID $46 0.6σ, B $2.50	$51,429/yr	$49,210/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $37.20 → $29.76, hedge $51,458/yr)
CC at SS vs stressed	$28,389/yr	$51,458/yr	DEFICIT $1,922/mo
CC at MID vs stressed	$51,429/yr	$51,458/yr	DEFICIT $2/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $2.50) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$2/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 77d

#	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	112d	8.6%	$7.55	$-1.35	$-2,700	$49,210	$51,458	$14,784	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	77d	8.6%	$6.25	$-0.05	$-100	$59,253	$56,836	$4,740	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	112d	11.3%	$7.10	$-0.90	$-1,800	$46,277	$53,740	$17,717	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	77d	11.3%	$5.60	$0.60	$1,200	$53,091	$62,998	$10,903	14	$4,000	4mo	0mo	1.88x	PASS
5	32	Nov 20	112d	14.0%	$6.50	$-0.30	$-600	$42,366	$54,717	$21,627	15	$6,000	3mo	1mo	1.94x	PASS
6	32	Oct 16	77d	14.0%	$5.15	$1.05	$2,100	$48,825	$65,368	$15,169	15	$6,000	5mo	1mo	1.94x	PASS
7	31	Nov 20	112d	16.7%	$6.25	$-0.05	$-100	$40,737	$57,976	$23,257	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	77d	16.7%	$4.80	$1.40	$2,800	$45,506	$69,634	$18,487	16	$8,000	5mo	1mo	2.00x	PASS
9	30	Nov 20	112d	19.3%	$5.60	$0.60	$1,200	$36,500	$61,594	$27,494	17	$10,000	4mo	1mo	2.06x	PASS
10	30	Oct 16	77d	19.3%	$4.30	$1.90	$3,800	$40,766	$74,422	$23,227	17	$10,000	5mo	1mo	2.06x	PASS
11	29	Nov 20	112d	22.0%	$5.10	$1.10	$2,200	$33,241	$57,683	$30,752	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	77d	22.0%	$3.90	$2.30	$4,600	$36,974	$69,208	$27,019	18	$12,000	5mo	1mo	2.12x	PASS
13	28	Nov 20	112d	24.7%	$4.65	$1.55	$3,100	$30,308	$52,795	$33,685	19	$14,000	5mo	1mo	2.19x	PASS
14	28	Oct 16	77d	24.7%	$3.50	$2.70	$5,400	$33,182	$63,994	$30,812	19	$14,000	5mo	1mo	2.19x	PASS
15	27	Nov 20	112d	27.4%	$4.35	$1.85	$3,700	$28,353	$49,210	$35,641	20	$16,000	5mo	1mo	2.25x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $1.38	$28,389/yr	$49,210/yr	DEFICIT $1,735/mo
CC at MID $46 0.6σ, B $2.50	$51,429/yr	$49,210/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $37.20 → $29.76, hedge $51,458/yr)
CC at SS vs stressed	$28,389/yr	$51,458/yr	DEFICIT $1,922/mo
CC at MID vs stressed	$51,429/yr	$51,458/yr	DEFICIT $2/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $2.50) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$2/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

UAMY: HP 8P Roll-Down · exp Nov 20 '26, 112d (no viable candidates)

Stock: $5.28 Current HP: 8P (112d, -42.2% OTM) Current hedge: $24,442/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).