GENERATED2026-08-01 03:34
FORTRESS REPAIRHP Roll-Down Analysis
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)
TOTAL HEDGE (CURRENT)
$125,829/yr
TOTAL HEDGE (REPAIRED)
$89,441/yr
ANNUAL SAVINGS
$36,388/yr
ROLL CREDITS
-$2,200
ADDITIONAL MAX LOSS
$8,000
PORTFOLIO ACTION SUMMARY · 46 positions
3 · REPAIR PLAN6 · LEAPS-ONLY37 · 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
 $36.95 2547 350 $44.00 $49.56 121.75x 5.3% OK 20 $32,000$73,900 REPAIR PLAN (76d)
IREN (Main) →
+25C −47P +35P
 $36.95 2547 350 $44.00 $49.56 121.75x 5.3% OK 20 $32,000$73,900 REPAIR PLAN (76d)
UAMY →
+10C −12P +8P −7C
 $5.03 1012 87 $12.45 $13.13 53.08x -49.1% ITM 25 $6,000$12,575 REPAIR PLAN (111d)
GOOG (Joint)
+310C −355C
 $356.41 3100 0355 $392.50 $343.62 01.00x 0.0% N/A 5 $41,250$178,205 LEAPS-ONLY
IBIT
+75C
 $35.65 750 00 $70.58 $49.08 01.00x 0.0% N/A 50 $22,328$178,225 LEAPS-ONLY
IGV
+70C −97C
 $94.39 700 097 $96.50 $87.37 01.00x 0.0% N/A 12 $31,800$113,267 LEAPS-ONLY
MARA (Main)
+40C
 $11.50 400 00 $40.55 $15.37 01.00x 0.0% N/A 200 $11,000$230,072 LEAPS-ONLY
MSTR (Joint)
+180C −110C
 $93.98 1800 0110 $233.00 $156.09 01.00x 0.0% N/A 10 $53,000$93,980 LEAPS-ONLY
SPY
+640C
 $747.03 6400 00 $764.00 $697.71 01.00x 0.0% N/A 12 $148,800$896,436 LEAPS-ONLY
APP
+460C −540P +185P
 $385.43 460540 1850 $588.00 $605.58 3553.77x 52.0% SAFE 1 $12,800$38,542 OK
BMNR (Joint)
+23C −65P +25P −20C
 $17.13 2365 2520 $30.29 $8.56 400.00x -45.9% ITM 150 $0$256,950 OK
BMNR (Main)
+25C −45P +15P −20C
 $17.13 2545 1520 $44.46 — 302.59x 12.4% SAFE 50 $94,550$85,650 OK
BMNR (Main)
+23C −65P +25P −20C
 $17.13 2365 2520 $39.13 $8.56 400.00x -45.9% ITM 75 $0$128,475 OK
BMNR (RetireInc)
+10C −18P +10P −20C
 $17.13 1018 1020 $17.13 $19.42 82.28x 41.6% SAFE 50 $31,250$85,650 OK
CLSK
+17C −17P +10P
 $13.95 1717 100 $20.74 $17.46 72.87x 28.3% SAFE 25 $9,350$34,862 OK
COIN (Main)
+165C −240P +85P −160C
 $150.38 165240 85160 $210.90 $218.06 15510.23x 43.5% SAFE 8 $13,440$120,306 OK
COIN (Main)
+500C −330P +300P −160C
 $150.38 500330 300160 $563.00 $337.97 301.48x -99.5% ITM 25 $157,500$375,956 OK
COIN (RetireInc)
+145C −200P +75P −160C
 $150.38 145200 75160 $182.40 $189.94 1257.31x 50.1% SAFE 3 $5,940$45,115 OK
COPX
+65C −90P +68P −85C
 $78.90 6590 6885 $93.40 $94.77 221.77x 13.8% SAFE 20 $56,800$157,800 OK
CRWV
+105C −120P +40P
 $72.07 105120 400 $125.45 $129.41 804.91x 44.5% SAFE 5 $10,225$36,035 OK
DELL
+340C −390P +150P −475C
 $408.35 340390 150475 $398.00 $409.43 2405.14x 63.3% SAFE 3 $17,400$122,504 OK
ENPH
+45C −60P +20P −41C
 $37.92 4560 2041 $56.15 $59.44 406.48x 47.3% SAFE 10 $7,300$37,920 OK
ETHA
+13C −16P +10P
 $14.07 1316 100 $17.33 $17.86 62.39x 28.9% SAFE 50 $21,650$70,350 OK
GLD
+320C −450P +330P −390C
 $371.49 320450 330390 $456.00 $471.48 1201.88x 11.2% SAFE 10 $136,000$371,490 OK
GLXY
+38C −38P +18P
 $21.19 3838 180 $39.71 $33.99 2010.05x 17.4% SAFE 125 $27,625$264,875 OK
GOOG (Neville)
+300C −345P +310P −355C
 $356.41 300345 310355 $373.00 $340.44 351.48x 13.0% SAFE 15 $109,500$534,615 OK
GOOG (Neville)
+340C −405P +360P −355C
 $356.41 340405 360355 $398.00 $378.34 451.88x -1.0% ITM 5 $25,500$178,205 OK
HIMS
+10C −20P +5P
 $27.66 1020 50 $17.47 $18.92 154.04x 81.9% SAFE 15 $7,395$41,498 OK
INTC
+85C −100P +35P −108C
 $92.45 85100 35108 $114.00 $116.92 653.24x 62.1% SAFE 5 $14,500$46,225 OK
IREN (Neville)
+45C −65P +21P
 $36.95 4565 210 $56.50 $59.26 4415.67x 43.2% SAFE 20 $6,000$73,900 OK
IREN (RetireInc)
+50C −70P +23P
 $36.95 5070 230 $63.43 $67.06 477.86x 37.8% SAFE 20 $13,700$73,900 OK
MARA (Joint)
+20C −17P +10P
 $11.50 2017 100 $24.33 $19.02 72.62x 13.1% SAFE 50 $21,650$57,518 OK
MARA (Main)
+20C −25P +15P
 $11.50 2025 150 $22.69 $18.82 1027.32x -30.4% ITM 200 $7,600$230,072 OK
MARA (Neville)
+25C −15P +13P
 $11.50 2515 130 $26.40 $14.30 22.43x -13.0% ITM 250 $35,000$287,590 OK
MDB
+270C −340P +150P −355C
 $337.23 270340 150355 $362.90 $381.36 1903.05x 55.5% SAFE 1 $9,290$33,722 OK
META
+480C −650P +330P −570C
 $552.44 480650 330570 $601.50 $607.66 3205.38x 40.3% SAFE 3 $21,900$165,732 OK
MSTR (RetireInc)
+125C −185P +55P −110C
 $93.98 125185 55110 $161.00 $168.01 13011.83x 41.5% SAFE 4 $4,800$37,592 OK
MU (Joint)
+670C −800P +420P −985C
 $837.76 670800 420985 $792.36 $809.04 3804.31x 49.9% SAFE 1 $11,472$83,776 OK
MU (Main)
+880C −1010P +320P −985C
 $837.76 8801010 320985 $1028.60 $1056.24 6905.64x 61.8% SAFE 5 $74,300$418,880 OK
MU (Neville)
+970C −1110P +370P −985C
 $837.76 9701110 370985 $1220.00 $1247.13 7403.96x 55.8% SAFE 2 $50,000$167,552 OK
NEM
+88C −105P +75P −100C
 $93.66 88105 75100 $114.54 $118.56 302.11x 19.9% SAFE 5 $13,520$46,830 OK
NOW
+80C −110P +90P −120C
 $111.37 80110 90120 $108.93 $114.83 201.72x 19.2% SAFE 10 $27,850$111,370 OK
NVDA
+140C −175P +70P −205C
 $200.02 140175 70205 $199.60 $202.87 1052.76x 65.0% SAFE 5 $29,800$100,010 OK
QCOM
+190C −210P +90P −165C
 $148.72 190210 90165 $224.00 $229.10 1204.53x 39.5% SAFE 5 $17,000$74,358 OK
RKLB
+115C −135P +45P
 $64.94 115135 450 $141.55 $148.70 904.39x 30.7% SAFE 6 $15,930$38,963 OK
SPCX
+150C −195P +135P
 $108.03 150195 1350 $186.00 $182.91 603.22x -25.0% ITM 5 $13,500$54,015 OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 76d

Stock: $36.95 HP: 5.3% OTM Current hedge: $62,914/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $127,945/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 16 PASS
RECOMMENDED: Roll HP 35 → 33 (Nov 20, 111d) | Save $18,194/yr | Payback 3mo (0.22yr) hedge only, 0mo (0.03yr) w/income (gate: 12mo (1.0yr)) | HP moves to 10.7% OTM | RM 1.75x → 1.88x | Margin (TIMS): $1,265
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 33 Nov 20 111d 10.7% $6.80 $-0.55 $-1,100 $44,721 $50,969 $18,194 14 $4,000 3mo 0mo 1.88x PASS
2 33 Oct 16 76d 10.7% $5.65 $0.60 $1,200 $54,270 $58,593 $8,645 14 $4,000 6mo 0mo 1.88x PASS
3 32 Nov 20 111d 13.4% $6.30 $-0.05 $-100 $41,432 $51,627 $21,482 15 $6,000 3mo 0mo 1.94x PASS
4 32 Oct 16 76d 13.4% $5.20 $1.05 $2,100 $49,947 $61,955 $12,967 15 $6,000 6mo 1mo 1.94x PASS
5 31 Nov 20 111d 16.1% $6.30 $-0.05 $-100 $41,432 $54,586 $21,482 16 $8,000 4mo 1mo 2.00x PASS
6 31 Oct 16 76d 16.1% $4.60 $1.65 $3,300 $44,184 $65,797 $18,730 16 $8,000 5mo 1mo 2.00x PASS
7 30 Nov 20 111d 18.8% $5.35 $0.90 $1,800 $35,185 $59,848 $27,730 17 $10,000 4mo 1mo 2.06x PASS
8 30 Oct 16 76d 18.8% $4.15 $2.10 $4,200 $39,862 $73,961 $23,053 17 $10,000 5mo 1mo 2.06x PASS
9 29 Nov 20 111d 21.5% $5.15 $1.10 $2,200 $33,869 $57,545 $29,045 18 $12,000 5mo 1mo 2.12x PASS
10 29 Oct 16 76d 21.5% $3.75 $2.50 $5,000 $36,020 $68,197 $26,895 18 $12,000 5mo 1mo 2.12x PASS
11 28 Nov 20 111d 24.2% $4.60 $1.65 $3,300 $30,252 $51,955 $32,662 19 $14,000 5mo 1mo 2.19x PASS
12 28 Oct 16 76d 24.2% $3.40 $2.85 $5,700 $32,658 $62,914 $30,257 19 $14,000 6mo 1mo 2.19x PASS
13 27 Oct 16 76d 26.9% $2.99 $3.26 $6,520 $28,720 $58,112 $34,195 20 $16,000 6mo 1mo 2.25x PASS
14 27 Nov 20 111d 26.9% $4.50 $1.75 $3,500 $29,595 $52,284 $33,320 20 $16,000 6mo 1mo 2.25x PASS
15 26 Nov 20 111d 29.6% $3.65 $2.60 $5,200 $24,005 $41,432 $38,910 21 $18,000 6mo 1mo 2.31x PASS
POST-REPAIR SUSTAINABILITY CC chain Sep 04 (34d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $50, B $1.45 $30,706/yr $44,721/yr DEFICIT $1,168/mo
CC at MID $45 0.6σ, B $2.59 $54,847/yr $44,721/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $36.95 → $29.56, hedge $50,969/yr)
CC at SS vs stressed $30,706/yr $50,969/yr DEFICIT $1,689/mo
CC at MID vs stressed $54,847/yr $50,969/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at MID ($45, bid $2.59). 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, 76d

Stock: $36.95 HP: 5.3% OTM Current hedge: $62,914/yr SS: $44.00 (unchanged) Shares: 2,000 CC income: $127,945/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 16 PASS
RECOMMENDED: Roll HP 35 → 33 (Nov 20, 111d) | Save $18,194/yr | Payback 3mo (0.22yr) hedge only, 0mo (0.03yr) w/income (gate: 12mo (1.0yr)) | HP moves to 10.7% OTM | RM 1.75x → 1.88x | Margin (TIMS): $1,266
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 33 Nov 20 111d 10.7% $6.80 $-0.55 $-1,100 $44,721 $50,969 $18,194 14 $4,000 3mo 0mo 1.88x PASS
2 33 Oct 16 76d 10.7% $5.65 $0.60 $1,200 $54,270 $58,593 $8,645 14 $4,000 6mo 0mo 1.88x PASS
3 32 Nov 20 111d 13.4% $6.30 $-0.05 $-100 $41,432 $51,627 $21,482 15 $6,000 3mo 0mo 1.94x PASS
4 32 Oct 16 76d 13.4% $5.20 $1.05 $2,100 $49,947 $61,955 $12,967 15 $6,000 6mo 1mo 1.94x PASS
5 31 Nov 20 111d 16.1% $6.30 $-0.05 $-100 $41,432 $54,586 $21,482 16 $8,000 4mo 1mo 2.00x PASS
6 31 Oct 16 76d 16.1% $4.60 $1.65 $3,300 $44,184 $65,797 $18,730 16 $8,000 5mo 1mo 2.00x PASS
7 30 Nov 20 111d 18.8% $5.35 $0.90 $1,800 $35,185 $59,848 $27,730 17 $10,000 4mo 1mo 2.06x PASS
8 30 Oct 16 76d 18.8% $4.15 $2.10 $4,200 $39,862 $73,961 $23,053 17 $10,000 5mo 1mo 2.06x PASS
9 29 Nov 20 111d 21.5% $5.15 $1.10 $2,200 $33,869 $57,545 $29,045 18 $12,000 5mo 1mo 2.12x PASS
10 29 Oct 16 76d 21.5% $3.75 $2.50 $5,000 $36,020 $68,197 $26,895 18 $12,000 5mo 1mo 2.12x PASS
11 28 Nov 20 111d 24.2% $4.60 $1.65 $3,300 $30,252 $51,955 $32,662 19 $14,000 5mo 1mo 2.19x PASS
12 28 Oct 16 76d 24.2% $3.40 $2.85 $5,700 $32,658 $62,914 $30,257 19 $14,000 6mo 1mo 2.19x PASS
13 27 Oct 16 76d 26.9% $2.99 $3.26 $6,520 $28,720 $58,112 $34,195 20 $16,000 6mo 1mo 2.25x PASS
14 27 Nov 20 111d 26.9% $4.50 $1.75 $3,500 $29,595 $52,284 $33,320 20 $16,000 6mo 1mo 2.25x PASS
15 26 Nov 20 111d 29.6% $3.65 $2.60 $5,200 $24,005 $41,432 $38,910 21 $18,000 6mo 1mo 2.31x PASS
POST-REPAIR SUSTAINABILITY CC chain Sep 04 (34d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $50, B $1.45 $30,706/yr $44,721/yr DEFICIT $1,168/mo
CC at MID $45 0.6σ, B $2.59 $54,847/yr $44,721/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $36.95 → $29.56, hedge $50,969/yr)
CC at SS vs stressed $30,706/yr $50,969/yr DEFICIT $1,689/mo
CC at MID vs stressed $54,847/yr $50,969/yr SELF-FUNDING
FULLY SUSTAINABLE CC at MID covers hedge in normal + stress
CC WRITING STRATEGY
WRITE CCs at MID ($45, bid $2.59). 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, 111d (no viable candidates)

Stock: $5.03 Current HP: 8P (111d, -49.1% 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).