Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$130,128/yr

TOTAL HEDGE (REPAIRED)

$93,211/yr

ANNUAL SAVINGS

$36,917/yr

ROLL CREDITS

-$1,825

ADDITIONAL MAX LOSS

$10,250

PORTFOLIO ACTION SUMMARY · 46 positions

1 · ROLL NOW3 · REPAIR PLAN6 · LEAPS-ONLY36 · 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
MDB → +270C −340P +150P −410C	$373.77	270	340	150	410	$362.90	$376.15	190	3.05x	59.9%	SAFE	1	$9,290	$37,377	ROLL NOW (44d)
IREN (Joint) → +25C −47P +35P	$39.26	25	47	35	0	$44.00	$49.84	12	1.75x	10.8%	SAFE	20	$32,000	$78,510	REPAIR PLAN (72d)
IREN (Main) → +25C −47P +35P	$39.26	25	47	35	0	$44.00	$49.84	12	1.75x	10.8%	SAFE	20	$32,000	$78,510	REPAIR PLAN (72d)
UAMY → +10C −12P +8P −8C	$6.39	10	12	8	8	$12.45	$13.18	5	3.08x	-17.3%	ITM	25	$6,000	$15,987	REPAIR PLAN (107d)
GOOG (Joint) +310C −355C	$360.01	310	0	0	355	$392.50	$340.70	0	1.00x	0.0%	N/A	5	$41,250	$180,005	LEAPS-ONLY
IBIT +75C	$36.77	75	0	0	0	$70.58	$48.75	0	1.00x	0.0%	N/A	50	$22,328	$183,850	LEAPS-ONLY
IGV +70C −105C	$101.63	70	0	0	105	$96.50	$86.98	0	1.00x	0.0%	N/A	12	$31,800	$121,956	LEAPS-ONLY
MARA (Main) +40C	$11.44	40	0	0	0	$40.55	$15.43	0	1.00x	0.0%	N/A	200	$11,000	$228,700	LEAPS-ONLY
MSTR (Joint) +180C −110C	$99.02	180	0	0	110	$233.00	$157.84	0	1.00x	0.0%	N/A	10	$53,000	$99,020	LEAPS-ONLY
SPY +640C	$771.65	640	0	0	0	$764.00	$697.00	0	1.00x	0.0%	N/A	12	$148,800	$925,980	LEAPS-ONLY
APP +460C −540P +185P	$421.15	460	540	185	0	$588.00	$605.94	355	3.77x	56.1%	SAFE	1	$12,800	$42,115	OK
BMNR (Joint) +23C −65P +25P −19C	$18.48	23	65	25	19	$30.29	$9.24	40	0.00x	-35.3%	ITM	150	$0	$277,125	OK
BMNR (Main) +25C −45P +15P −19C	$18.48	25	45	15	19	$44.46	$52.48	30	2.59x	18.8%	SAFE	50	$94,550	$92,375	OK
BMNR (Main) +23C −65P +25P −19C	$18.48	23	65	25	19	$39.13	$9.24	40	0.00x	-35.3%	ITM	75	$0	$138,562	OK
BMNR (RetireInc) +10C −18P +10P −19C	$18.48	10	18	10	19	$17.13	$19.75	8	2.28x	45.9%	SAFE	50	$31,250	$92,375	OK
CLSK +17C −17P +10P	$13.80	17	17	10	0	$20.74	$17.43	7	2.87x	27.5%	SAFE	25	$9,350	$34,500	OK
COIN (Main) +165C −240P +85P −160C	$152.41	165	240	85	160	$210.90	$219.40	155	10.23x	44.2%	SAFE	8	$13,440	$121,928	OK
COIN (Main) +500C −330P +300P −160C	$152.41	500	330	300	160	$563.00	$343.07	30	1.48x	-96.8%	ITM	25	$157,500	$381,025	OK
COIN (RetireInc) +145C −200P +75P −160C	$152.41	145	200	75	160	$182.40	$189.13	125	7.31x	50.8%	SAFE	3	$5,940	$45,723	OK
COPX +65C −90P +68P −100C	$86.83	65	90	68	100	$93.40	$93.86	22	1.77x	21.7%	SAFE	20	$56,800	$173,650	OK
CRWV +105C −120P +40P	$92.00	105	120	40	0	$125.45	$128.34	80	4.91x	56.5%	SAFE	5	$10,225	$46,000	OK
DELL +340C −390P +150P −540C	$472.50	340	390	150	540	$398.00	$408.30	240	5.14x	68.3%	SAFE	3	$17,400	$141,750	OK
ENPH +45C −60P +20P	$38.95	45	60	20	0	$56.15	$59.00	40	6.48x	48.7%	SAFE	10	$7,300	$38,950	OK
ETHA +13C −16P +10P	$14.47	13	16	10	0	$17.33	$18.08	6	2.39x	30.9%	SAFE	50	$21,650	$72,375	OK
GLD +320C −450P +330P −400C	$390.00	320	450	330	400	$456.00	$470.19	120	1.88x	15.4%	SAFE	10	$136,000	$389,995	OK
GLXY +38C −38P +18P	$19.39	38	38	18	0	$39.71	$34.60	20	10.05x	9.8%	OK	125	$27,625	$242,438	OK
GOOG (Neville) +300C −345P +310P −370C	$360.01	300	345	310	370	$373.00	$339.92	35	1.48x	13.9%	SAFE	15	$109,500	$540,015	OK
GOOG (Neville) +340C −405P +360P −370C	$360.01	340	405	360	370	$398.00	$376.86	45	1.88x	0.0%	TIGHT	5	$25,500	$180,005	OK
HIMS +10C −20P +5P	$31.23	10	20	5	0	$17.47	$18.90	15	4.04x	84.0%	SAFE	15	$7,395	$46,852	OK
INTC +85C −100P +35P −108C	$102.47	85	100	35	108	$114.00	$117.37	65	3.24x	65.8%	SAFE	5	$14,500	$51,235	OK
IREN (Neville) +45C −65P +21P	$39.26	45	65	21	0	$56.50	$58.75	44	15.67x	46.5%	SAFE	20	$6,000	$78,510	OK
IREN (RetireInc) +50C −70P +23P	$39.26	50	70	23	0	$63.43	$67.45	47	7.86x	41.4%	SAFE	20	$13,700	$78,510	OK
MARA (Joint) +20C −17P +10P	$11.44	20	17	10	0	$24.33	$19.38	7	2.62x	12.5%	SAFE	50	$21,650	$57,175	OK
MARA (Main) +20C −25P +15P	$11.44	20	25	15	0	$22.69	$18.41	10	27.32x	-31.2%	ITM	200	$7,600	$228,700	OK
MARA (Neville) +25C −15P +13P	$11.44	25	15	13	0	$26.40	$14.71	2	2.43x	-13.7%	ITM	250	$35,000	$285,875	OK
META +480C −650P +330P −610C	$588.46	480	650	330	610	$601.50	$608.24	320	5.38x	43.9%	SAFE	3	$21,900	$176,539	OK
MSTR (RetireInc) +125C −185P +55P −110C	$99.02	125	185	55	110	$161.00	$168.93	130	11.83x	44.5%	SAFE	4	$4,800	$39,608	OK
MU (Joint) +670C −800P +420P −1200C	$915.03	670	800	420	1200	$792.36	$808.95	380	4.31x	54.1%	SAFE	1	$11,472	$91,503	OK
MU (Main) +880C −1010P +320P −1000C	$915.03	880	1010	320	1000	$1028.60	$1053.57	690	5.64x	65.0%	SAFE	5	$74,300	$457,515	OK
MU (Neville) +970C −1110P +370P −1050C	$915.03	970	1110	370	1050	$1220.00	$1244.31	740	3.96x	59.6%	SAFE	2	$50,000	$183,006	OK
NEM +88C −105P +75P −125C	$104.52	88	105	75	125	$114.54	$117.75	30	2.11x	28.2%	SAFE	5	$13,520	$52,260	OK
NOW +80C −110P +90P −120C	$116.78	80	110	90	120	$108.93	$114.50	20	1.72x	22.9%	SAFE	10	$27,850	$116,780	OK
NVDA +140C −175P +70P −215C	$221.31	140	175	70	215	$199.60	$203.12	105	2.76x	68.4%	SAFE	5	$29,800	$110,655	OK
QCOM +190C −210P +90P −230C	$158.80	190	210	90	230	$224.00	$229.12	120	4.53x	43.3%	SAFE	5	$17,000	$79,400	OK
RKLB +115C −135P +45P	$74.89	115	135	45	0	$141.55	$147.81	90	4.39x	39.9%	SAFE	6	$15,930	$44,934	OK
SPCX +150C −195P +135P −131C	$109.31	150	195	135	131	$186.00	$184.47	60	3.22x	-23.5%	ITM	5	$13,500	$54,658	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 72d

Stock: $39.26 HP: 10.8% OTM Current hedge: $55,257/yr Roll-fwd baseline: $47,075/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $108,984/yr IV: HIGH OTM floor: 8% Stress: 32% DD Payback gate: 12mo (1.0yr) 7 PASS ⚠ ER 2026-08-27 AMC (22d) inside new HP tenor

#	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	107d	13.4%	$6.30	$-1.30	$-2,600	$42,981	$39,604	$12,276	13	$2,000	2mo	0mo	1.81x	PASS
2	33	Nov 20	107d	15.9%	$5.85	$-0.85	$-1,700	$39,911	$41,310	$15,346	14	$4,000	3mo	0mo	1.88x	PASS
3	32	Nov 20	107d	18.5%	$5.40	$-0.40	$-800	$36,841	$45,062	$18,416	15	$6,000	4mo	1mo	1.94x	PASS
4	31	Nov 20	107d	21.0%	$4.95	$0.05	$100	$33,771	$47,109	$21,486	16	$8,000	4mo	1mo	2.00x	PASS
5	30	Nov 20	107d	23.6%	$4.50	$0.50	$1,000	$30,701	$51,543	$24,556	17	$10,000	5mo	1mo	2.06x	PASS
6	29	Nov 20	107d	26.1%	$4.10	$0.90	$1,800	$27,972	$53,931	$27,285	18	$12,000	5mo	1mo	2.12x	PASS
7	28	Nov 20	107d	28.7%	$3.70	$1.30	$2,600	$25,243	$58,707	$30,014	19	$14,000	6mo	1mo	2.19x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $1.95	$46,800/yr	$42,981/yr	SELF-FUNDING
CC at MID $48 0.7σ, B $2.06	$49,440/yr	$42,981/yr	SELF-FUNDING
AT 32% DRAWDOWN (stock $39.26 → $26.58, hedge $39,604/yr)
CC at SS income stress-adjusted	$18,000/yr	$39,604/yr	DEFICIT $1,800/mo
CC at MID income stress-adjusted	$18,000/yr	$39,604/yr	DEFICIT $1,800/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($48, bid $2.06) in NORMAL markets. Self-funds today.
In 32% drawdown, even MID is short ~$1,800/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 72d

Stock: $39.26 HP: 10.8% OTM Current hedge: $55,257/yr Roll-fwd baseline: $47,075/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $108,984/yr IV: HIGH OTM floor: 8% Stress: 32% DD Payback gate: 12mo (1.0yr) 7 PASS ⚠ ER 2026-08-27 AMC (22d) inside new HP tenor

#	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	107d	13.4%	$6.30	$-1.30	$-2,600	$42,981	$39,604	$12,276	13	$2,000	2mo	0mo	1.81x	PASS
2	33	Nov 20	107d	15.9%	$5.85	$-0.85	$-1,700	$39,911	$41,310	$15,346	14	$4,000	3mo	0mo	1.88x	PASS
3	32	Nov 20	107d	18.5%	$5.40	$-0.40	$-800	$36,841	$45,062	$18,416	15	$6,000	4mo	1mo	1.94x	PASS
4	31	Nov 20	107d	21.0%	$4.95	$0.05	$100	$33,771	$47,109	$21,486	16	$8,000	4mo	1mo	2.00x	PASS
5	30	Nov 20	107d	23.6%	$4.50	$0.50	$1,000	$30,701	$51,543	$24,556	17	$10,000	5mo	1mo	2.06x	PASS
6	29	Nov 20	107d	26.1%	$4.10	$0.90	$1,800	$27,972	$53,931	$27,285	18	$12,000	5mo	1mo	2.12x	PASS
7	28	Nov 20	107d	28.7%	$3.70	$1.30	$2,600	$25,243	$58,707	$30,014	19	$14,000	6mo	1mo	2.19x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $1.95	$46,800/yr	$42,981/yr	SELF-FUNDING
CC at MID $48 0.7σ, B $2.06	$49,440/yr	$42,981/yr	SELF-FUNDING
AT 32% DRAWDOWN (stock $39.26 → $26.58, hedge $39,604/yr)
CC at SS income stress-adjusted	$18,000/yr	$39,604/yr	DEFICIT $1,800/mo
CC at MID income stress-adjusted	$18,000/yr	$39,604/yr	DEFICIT $1,800/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($48, bid $2.06) in NORMAL markets. Self-funds today.
In 32% drawdown, even MID is short ~$1,800/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

UAMY: HP 8P Roll-Down · exp Nov 20 '26, 107d

Stock: $6.39 HP: ITM Current hedge: $19,614/yr SS: $12.45 (unchanged) Account: RetireInc (...7291) Contracts: 25 (2,500 sh) CC income: $17,115/yr IV: HIGH OTM floor: 8% Stress: 33% DD Payback gate: 12mo (1.0yr) 1 PASS ⚠ ER 2026-08-14 AMC (9d) inside new HP tenor

#	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	5	Nov 20	107d	21.8%	$0.85	$1.35	$3,375	$7,249	$10,191	$12,366	8	$6,250	6mo	3mo	4.12x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS BELOW SS $13 — assignment locks a loss · $10, B $0.05	$1,500/yr	$7,249/yr	DEFICIT $479/mo
CC at MID $8 0.8σ, B $0.30	$9,000/yr	$7,249/yr	SELF-FUNDING
AT 33% DRAWDOWN (stock $6.39 → $4.29, hedge $10,191/yr)
CC at SS income stress-adjusted	$1,500/yr	$10,191/yr	DEFICIT $724/mo
CC at MID income stress-adjusted	$1,500/yr	$10,191/yr	DEFICIT $724/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($8, bid $0.30) in NORMAL markets. Self-funds today.
In 33% drawdown, even MID is short ~$724/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

MDB: HP 150P Maintenance Roll-Out · exp Sep 18 '26, 44d

Stock: $373.77 Current HP: 150P (44d, 59.9% OTM) Current hedge: $1,435/yr Current ML: $28,290 If HP lapses: ML $43,290 (+$15,000) Account: Neville (...0865) Contracts: 1 (100 sh) CC income: $39,584/yr Cost cap: 25% of CC = $9,896/yr IV: HIGH 21 qualifying ⚠ ER 2026-09-01 AMC (27d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 160P (Nov 20 '26, 107d, 57.2% OTM) | Cost: $781/yr (2% of CC) | New ML: $27,290 ↓ $1,000 | Roll DEBIT $229 | Margin (TIMS): $7,767

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 310P (Nov 20 '26, 107d, 17.1% OTM) | Cost: $8,937/yr (23% of CC) | New ML: $12,290 ↓ $16,000 | Roll DEBIT $2,620 | Margin (TIMS): $5,429

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	160 CHEAP	Nov 20	107d	57.2%	$0.11	$2.29	$781	2%	$27,290	-$1,000	D $229
2	175	Nov 20	107d	53.2%	$0.65	$2.90	$989	2%	$25,790	-$2,500	D $290
3	155	Nov 20	107d	58.5%	$0.02	$3.55	$1,211	3%	$27,790	-$500	D $355
4	165	Nov 20	107d	55.9%	$0.64	$3.90	$1,330	3%	$26,790	-$1,500	D $390
5	180	Nov 20	107d	51.8%	$1.14	$4.40	$1,501	4%	$25,290	-$3,000	D $440
6	170	Nov 20	107d	54.5%	$0.15	$4.75	$1,620	4%	$26,290	-$2,000	D $475
7	185	Nov 20	107d	50.5%	$1.03	$4.75	$1,620	4%	$24,790	-$3,500	D $475
8	190	Nov 20	107d	49.2%	$1.58	$5.35	$1,825	5%	$24,290	-$4,000	D $535
9	220	Nov 20	107d	41.1%	$5.10	$5.60	$1,910	5%	$21,290	-$7,000	D $560
10	200	Nov 20	107d	46.5%	$2.01	$6.15	$2,098	5%	$23,290	-$5,000	D $615
11	210	Nov 20	107d	43.8%	$3.75	$6.60	$2,251	6%	$22,290	-$6,000	D $660
12	230	Nov 20	107d	38.5%	$5.90	$6.95	$2,371	6%	$20,290	-$8,000	D $695
▶ 13	310 PROT	Nov 20	107d	17.1%	$24.30	$26.20	$8,937	23%	$12,290	-$16,000	D $2,620

POST-REPAIR SUSTAINABILITY CC chain Sep 04 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $380, B $33.05	$39,660/yr	$781/yr	SELF-FUNDING
CC at MID $435 0.7σ, B $15.85	$19,020/yr	$781/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($380, bid $33.05). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

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).