Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$126,091/yr

TOTAL HEDGE (REPAIRED)

$97,768/yr

ANNUAL SAVINGS

$28,323/yr

ROLL CREDITS

-$5,600

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	$37.16	25	47	35	0	$44.00	$48.46	12	1.75x	5.8%	OK	20	$32,000	$74,330	REPAIR PLAN (77d)
IREN (Main) → +25C −47P +35P	$37.16	25	47	35	0	$44.00	$48.46	12	1.75x	5.8%	OK	20	$32,000	$74,330	REPAIR PLAN (77d)
UAMY → +10C −12P +8P −7C	$5.11	10	12	8	7	$12.45	$13.09	5	3.08x	-46.8%	ITM	25	$6,000	$12,775	REPAIR PLAN (112d)
GOOG (Joint) +310C −350C	$342.69	310	0	0	350	$392.50	$344.08	0	1.00x	0.0%	N/A	5	$41,250	$171,345	LEAPS-ONLY
IBIT +75C	$35.83	75	0	0	0	$70.58	$49.07	0	1.00x	0.0%	N/A	50	$22,328	$179,125	LEAPS-ONLY
IGV +70C −97C	$93.89	70	0	0	97	$96.50	$88.43	0	1.00x	0.0%	N/A	12	$31,800	$112,668	LEAPS-ONLY
MARA (Main) +40C	$11.57	40	0	0	0	$40.55	$15.22	0	1.00x	0.0%	N/A	200	$11,000	$231,300	LEAPS-ONLY
MSTR (Joint) +180C −110C	$92.62	180	0	0	110	$233.00	$153.87	0	1.00x	0.0%	N/A	10	$53,000	$92,623	LEAPS-ONLY
SPY +640C	$742.42	640	0	0	0	$764.00	$697.62	0	1.00x	0.0%	N/A	12	$148,800	$890,904	LEAPS-ONLY
AMZN +215C −260P +230P	$266.96	215	260	230	0	$256.25	$241.95	30	1.80x	13.8%	SAFE	10	$37,500	$266,959	OK
APP +460C −540P +185P	$394.58	460	540	185	0	$588.00	$608.07	355	3.77x	53.1%	SAFE	1	$12,800	$39,458	OK
BMNR (Joint) +23C −65P +25P −20C	$16.95	23	65	25	20	$30.29	$8.48	40	0.00x	-47.4%	ITM	150	$0	$254,325	OK
BMNR (Main) +25C −45P +15P −20C	$16.95	25	45	15	20	$44.46	—	30	2.59x	11.5%	SAFE	50	$94,550	$84,775	OK
BMNR (Main) +23C −65P +25P −20C	$16.95	23	65	25	20	$39.13	$8.48	40	0.00x	-47.4%	ITM	75	$0	$127,162	OK
BMNR (RetireInc) +10C −18P +10P −20C	$16.95	10	18	10	20	$17.13	$19.12	8	2.28x	41.0%	SAFE	50	$31,250	$84,775	OK
CLSK +17C −17P +10P	$14.06	17	17	10	0	$20.74	$16.80	7	2.87x	28.9%	SAFE	25	$9,350	$35,150	OK
COIN (Main) +165C −240P +85P −185C	$144.80	165	240	85	185	$210.90	$215.24	155	10.23x	41.3%	SAFE	8	$13,440	$115,840	OK
COIN (Main) +500C −330P +300P −185C	$144.80	500	330	300	185	$563.00	$337.35	30	1.48x	-107.2%	ITM	25	$157,500	$362,000	OK
COIN (RetireInc) +145C −200P +75P −195C	$144.80	145	200	75	195	$182.40	$186.19	125	7.31x	48.2%	SAFE	3	$5,940	$43,440	OK
COPX +65C −90P +68P	$77.99	65	90	68	0	$93.40	$94.65	22	1.77x	12.8%	SAFE	20	$56,800	$155,980	OK
CRWV +105C −120P +40P	$72.95	105	120	40	0	$125.45	$127.77	80	4.91x	45.2%	SAFE	5	$10,225	$36,475	OK
DELL +340C −390P +150P −475C	$415.70	340	390	150	475	$398.00	$409.44	240	5.14x	63.9%	SAFE	3	$17,400	$124,710	OK
ENPH +45C −60P +20P −41C	$37.34	45	60	20	41	$56.15	$58.78	40	6.48x	46.4%	SAFE	10	$7,300	$37,340	OK
ETHA +13C −16P +10P	$14.08	13	16	10	0	$17.33	$17.80	6	2.39x	29.0%	SAFE	50	$21,650	$70,400	OK
GLD +320C −450P +330P −390C	$369.20	320	450	330	390	$456.00	$472.26	120	1.88x	10.6%	SAFE	10	$136,000	$369,200	OK
GLXY +38C −38P +18P	$20.98	38	38	18	0	$39.71	$33.49	20	10.05x	16.6%	SAFE	125	$27,625	$262,250	OK
GOOG (Neville) +300C −345P +310P −350C	$342.69	300	345	310	350	$373.00	$340.14	35	1.48x	9.5%	OK	15	$109,500	$514,035	OK
GOOG (Neville) +340C −405P +360P −350C	$342.69	340	405	360	350	$398.00	$379.80	45	1.88x	-5.1%	ITM	5	$25,500	$171,345	OK
HIMS +10C −20P +5P	$28.05	10	20	5	0	$17.47	$19.10	15	4.04x	82.2%	SAFE	15	$7,395	$42,070	OK
INTC +85C −100P +35P	$93.00	85	100	35	0	$114.00	$115.82	65	3.24x	62.4%	SAFE	5	$14,500	$46,500	OK
IREN (Neville) +45C −65P +21P	$37.16	45	65	21	0	$56.50	$57.53	44	15.67x	43.5%	SAFE	20	$6,000	$74,330	OK
IREN (RetireInc) +50C −70P +23P	$37.16	50	70	23	0	$63.43	$66.44	47	7.86x	38.1%	SAFE	20	$13,700	$74,330	OK
MARA (Joint) +20C −17P +10P	$11.57	20	17	10	0	$24.33	$18.63	7	2.62x	13.5%	SAFE	50	$21,650	$57,825	OK
MARA (Main) +20C −25P +15P	$11.57	20	25	15	0	$22.69	$18.06	10	27.32x	-29.7%	ITM	200	$7,600	$231,300	OK
MARA (Neville) +25C −15P +13P	$11.57	25	15	13	0	$26.40	$14.36	2	2.43x	-12.4%	ITM	250	$35,000	$289,125	OK
MDB +270C −340P +150P −355C	$334.10	270	340	150	355	$362.90	$381.94	190	3.05x	55.1%	SAFE	1	$9,290	$33,410	OK
META +480C −650P +330P −570C	$547.25	480	650	330	570	$601.50	$606.87	320	5.38x	39.7%	SAFE	3	$21,900	$164,175	OK
MSTR (RetireInc) +125C −185P +55P −110C	$92.62	125	185	55	110	$161.00	$166.96	130	11.83x	40.6%	SAFE	4	$4,800	$37,049	OK
MU (Joint) +670C −800P +420P −900C	$873.03	670	800	420	900	$792.36	$808.86	380	4.31x	51.9%	SAFE	1	$11,472	$87,303	OK
MU (Main) +880C −1010P +320P −900C	$873.03	880	1010	320	900	$1028.60	$1054.73	690	5.64x	63.3%	SAFE	5	$74,300	$436,515	OK
MU (Neville) +970C −1110P +370P −985C	$873.03	970	1110	370	985	$1220.00	$1245.39	740	3.96x	57.6%	SAFE	2	$50,000	$174,606	OK
NEM +88C −105P +75P −100C	$92.75	88	105	75	100	$114.54	$117.30	30	2.11x	19.1%	SAFE	5	$13,520	$46,375	OK
NOW +80C −110P +90P −120C	$110.88	80	110	90	120	$108.93	$114.51	20	1.72x	18.8%	SAFE	10	$27,850	$110,875	OK
NVDA +140C −175P +70P −205C	$197.34	140	175	70	205	$199.60	$202.76	105	2.76x	64.5%	SAFE	5	$29,800	$98,670	OK
QCOM +190C −210P +90P −165C	$146.84	190	210	90	165	$224.00	$228.30	120	4.53x	38.7%	SAFE	5	$17,000	$73,422	OK
RKLB +115C −135P +45P	$65.19	115	135	45	0	$141.55	$147.71	90	4.39x	31.0%	SAFE	6	$15,930	$39,114	OK
SPCX +150C −195P +135P	$110.94	150	195	135	0	$186.00	$183.02	60	3.22x	-21.7%	ITM	5	$13,500	$55,468	OK

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

Stock: $37.16 HP: 5.8% OTM Current hedge: $63,045/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $109,307/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	8.5%	$7.50	$-1.40	$-2,800	$48,884	$50,611	$14,162	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	77d	8.5%	$6.15	$-0.05	$-100	$58,305	$58,447	$4,740	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	112d	11.2%	$7.00	$-0.90	$-1,800	$45,625	$52,567	$17,420	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	77d	11.2%	$5.65	$0.45	$900	$53,565	$61,766	$9,481	14	$4,000	5mo	0mo	1.88x	PASS
5	32	Nov 20	112d	13.9%	$6.45	$-0.35	$-700	$42,040	$53,870	$21,005	15	$6,000	3mo	1mo	1.94x	PASS
6	32	Oct 16	77d	13.9%	$5.15	$0.95	$1,900	$48,825	$65,084	$14,221	15	$6,000	5mo	1mo	1.94x	PASS
7	31	Nov 20	112d	16.6%	$6.00	$0.10	$200	$39,107	$56,151	$23,938	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	77d	16.6%	$4.75	$1.35	$2,700	$45,032	$68,876	$18,013	16	$8,000	5mo	1mo	2.00x	PASS
9	30	Nov 20	112d	19.3%	$5.50	$0.60	$1,200	$35,848	$58,758	$27,197	17	$10,000	4mo	1mo	2.06x	PASS
10	30	Oct 16	77d	19.3%	$4.30	$1.80	$3,600	$40,766	$72,668	$22,279	17	$10,000	5mo	1mo	2.06x	PASS
11	29	Nov 20	112d	22.0%	$5.05	$1.05	$2,100	$32,915	$56,379	$30,130	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	77d	22.0%	$3.85	$2.25	$4,500	$36,500	$68,260	$26,545	18	$12,000	5mo	1mo	2.12x	PASS
13	28	Nov 20	112d	24.7%	$4.70	$1.40	$2,800	$30,634	$52,795	$32,412	19	$14,000	5mo	1mo	2.19x	PASS
14	28	Oct 16	77d	24.7%	$3.50	$2.60	$5,200	$33,182	$63,045	$29,864	19	$14,000	6mo	1mo	2.19x	PASS
15	27	Nov 20	112d	27.4%	$4.30	$1.80	$3,600	$28,027	$48,884	$35,019	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 $49, B $1.15	$23,657/yr	$48,884/yr	DEFICIT $2,102/mo
CC at MID $46 0.7σ, B $2.38	$48,960/yr	$48,884/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $37.16 → $29.73, hedge $50,611/yr)
CC at SS vs stressed	$23,657/yr	$50,611/yr	DEFICIT $2,246/mo
CC at MID vs stressed	$48,960/yr	$50,611/yr	DEFICIT $138/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $2.38) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$138/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	8.5%	$7.50	$-1.40	$-2,800	$48,884	$50,611	$14,162	13	$2,000	2mo	0mo	1.81x	PASS
2	34	Oct 16	77d	8.5%	$6.15	$-0.05	$-100	$58,305	$58,447	$4,740	13	$2,000	5mo	0mo	1.81x	PASS
3	33	Nov 20	112d	11.2%	$7.00	$-0.90	$-1,800	$45,625	$52,567	$17,420	14	$4,000	3mo	0mo	1.88x	PASS
4	33	Oct 16	77d	11.2%	$5.65	$0.45	$900	$53,565	$61,766	$9,481	14	$4,000	5mo	0mo	1.88x	PASS
5	32	Nov 20	112d	13.9%	$6.45	$-0.35	$-700	$42,040	$53,870	$21,005	15	$6,000	3mo	1mo	1.94x	PASS
6	32	Oct 16	77d	13.9%	$5.15	$0.95	$1,900	$48,825	$65,084	$14,221	15	$6,000	5mo	1mo	1.94x	PASS
7	31	Nov 20	112d	16.6%	$6.00	$0.10	$200	$39,107	$56,151	$23,938	16	$8,000	4mo	1mo	2.00x	PASS
8	31	Oct 16	77d	16.6%	$4.75	$1.35	$2,700	$45,032	$68,876	$18,013	16	$8,000	5mo	1mo	2.00x	PASS
9	30	Nov 20	112d	19.3%	$5.50	$0.60	$1,200	$35,848	$58,758	$27,197	17	$10,000	4mo	1mo	2.06x	PASS
10	30	Oct 16	77d	19.3%	$4.30	$1.80	$3,600	$40,766	$72,668	$22,279	17	$10,000	5mo	1mo	2.06x	PASS
11	29	Nov 20	112d	22.0%	$5.05	$1.05	$2,100	$32,915	$56,379	$30,130	18	$12,000	5mo	1mo	2.12x	PASS
12	29	Oct 16	77d	22.0%	$3.85	$2.25	$4,500	$36,500	$68,260	$26,545	18	$12,000	5mo	1mo	2.12x	PASS
13	28	Nov 20	112d	24.7%	$4.70	$1.40	$2,800	$30,634	$52,795	$32,412	19	$14,000	5mo	1mo	2.19x	PASS
14	28	Oct 16	77d	24.7%	$3.50	$2.60	$5,200	$33,182	$63,045	$29,864	19	$14,000	6mo	1mo	2.19x	PASS
15	27	Nov 20	112d	27.4%	$4.30	$1.80	$3,600	$28,027	$48,884	$35,019	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 $49, B $1.15	$23,657/yr	$48,884/yr	DEFICIT $2,102/mo
CC at MID $46 0.7σ, B $2.38	$48,960/yr	$48,884/yr	SELF-FUNDING
AT 20% DRAWDOWN (stock $37.16 → $29.73, hedge $50,611/yr)
CC at SS vs stressed	$23,657/yr	$50,611/yr	DEFICIT $2,246/mo
CC at MID vs stressed	$48,960/yr	$50,611/yr	DEFICIT $138/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $2.38) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$138/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: $5.11 Current HP: 8P (112d, -46.8% 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).