Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$143,873/yr

TOTAL HEDGE (REPAIRED)

$104,163/yr

ANNUAL SAVINGS

$39,711/yr

ROLL CREDITS

-$2,825

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	$370.56	270	340	150	410	$362.90	$383.61	190	3.05x	59.5%	SAFE	1	$9,290	$37,056	ROLL NOW (43d)
IREN (Joint) → +25C −47P +35P	$38.13	25	47	35	0	$44.00	$50.48	12	1.75x	8.2%	OK	20	$32,000	$76,260	REPAIR PLAN (71d)
IREN (Main) → +25C −47P +35P	$38.13	25	47	35	0	$44.00	$50.48	12	1.75x	8.2%	OK	20	$32,000	$76,260	REPAIR PLAN (71d)
UAMY → +10C −12P +8P −8C	$6.16	10	12	8	8	$12.45	$13.18	5	3.08x	-21.8%	ITM	25	$6,000	$15,400	REPAIR PLAN (106d)
GOOG (Joint) +310C −355C	$360.08	310	0	0	355	$392.50	$339.61	0	1.00x	0.0%	N/A	5	$41,250	$180,040	LEAPS-ONLY
IBIT +75C	$36.37	75	0	0	0	$70.58	$48.62	0	1.00x	0.0%	N/A	50	$22,328	$181,850	LEAPS-ONLY
IGV +70C −105C	$98.72	70	0	0	105	$96.50	$88.39	0	1.00x	0.0%	N/A	12	$31,800	$118,464	LEAPS-ONLY
MARA (Main) +40C	$10.93	40	0	0	0	$40.55	$15.38	0	1.00x	0.0%	N/A	200	$11,000	$218,500	LEAPS-ONLY
MSTR (Joint) +180C −110C	$96.85	180	0	0	110	$233.00	$156.95	0	1.00x	0.0%	N/A	10	$53,000	$96,850	LEAPS-ONLY
SPY +640C	$769.99	640	0	0	0	$764.00	$694.66	0	1.00x	0.0%	N/A	12	$148,800	$923,982	LEAPS-ONLY
APP +460C −540P +185P	$345.89	460	540	185	0	$588.00	$612.88	355	3.77x	46.5%	SAFE	1	$12,800	$34,590	OK
BMNR (Joint) +23C −65P +25P −19C	$18.07	23	65	25	19	$30.29	$9.04	40	0.00x	-38.3%	ITM	150	$0	$271,125	OK
BMNR (Main) +25C −45P +15P −19C	$18.07	25	45	15	19	$44.46	$52.37	30	2.59x	17.0%	SAFE	50	$94,550	$90,375	OK
BMNR (Main) +23C −65P +25P −19C	$18.07	23	65	25	19	$39.13	$9.04	40	0.00x	-38.3%	ITM	75	$0	$135,562	OK
BMNR (RetireInc) +10C −18P +10P −19C	$18.07	10	18	10	19	$17.13	$19.49	8	2.28x	44.7%	SAFE	50	$31,250	$90,375	OK
CLSK +17C −17P +10P	$13.02	17	17	10	0	$20.74	$17.39	7	2.87x	23.2%	SAFE	25	$9,350	$32,550	OK
COIN (Main) +165C −240P +85P −160C	$148.40	165	240	85	160	$210.90	$219.20	155	10.23x	42.7%	SAFE	8	$13,440	$118,716	OK
COIN (Main) +500C −330P +300P −160C	$148.40	500	330	300	160	$563.00	$342.90	30	1.48x	-102.2%	ITM	25	$157,500	$370,988	OK
COIN (RetireInc) +145C −200P +75P −160C	$148.40	145	200	75	160	$182.40	$189.10	125	7.31x	49.5%	SAFE	3	$5,940	$44,518	OK
COPX +65C −90P +68P −100C	$86.68	65	90	68	100	$93.40	$93.97	22	1.77x	21.6%	SAFE	20	$56,800	$173,360	OK
CRWV +105C −120P +40P	$86.68	105	120	40	0	$125.45	$128.95	80	4.91x	53.9%	SAFE	5	$10,225	$43,340	OK
DELL +340C −390P +150P −540C	$428.43	340	390	150	540	$398.00	$409.81	240	5.14x	65.0%	SAFE	3	$17,400	$128,529	OK
ENPH +45C −60P +20P	$38.41	45	60	20	0	$56.15	$59.60	40	6.48x	47.9%	SAFE	10	$7,300	$38,410	OK
ETHA +13C −16P +10P	$14.35	13	16	10	0	$17.33	$17.98	6	2.39x	30.3%	SAFE	50	$21,650	$71,725	OK
GLD +320C −450P +330P −400C	$390.60	320	450	330	400	$456.00	$469.32	120	1.88x	15.5%	SAFE	10	$136,000	$390,600	OK
GLXY +38C −38P +18P	$19.01	38	38	18	0	$39.71	$33.85	20	10.05x	7.9%	OK	125	$27,625	$237,625	OK
GOOG (Neville) +300C −345P +310P −370C	$360.08	300	345	310	370	$373.00	$338.50	35	1.48x	13.9%	SAFE	15	$109,500	$540,120	OK
GOOG (Neville) +340C −405P +360P −370C	$360.08	340	405	360	370	$398.00	$375.79	45	1.88x	0.0%	TIGHT	5	$25,500	$180,040	OK
HIMS +10C −20P +5P	$30.84	10	20	5	0	$17.47	$19.21	15	4.04x	83.8%	SAFE	15	$7,395	$46,260	OK
INTC +85C −100P +35P −108C	$97.43	85	100	35	108	$114.00	$117.34	65	3.24x	64.1%	SAFE	5	$14,500	$48,715	OK
IREN (Neville) +45C −65P +21P	$38.13	45	65	21	0	$56.50	$59.00	44	15.67x	44.9%	SAFE	20	$6,000	$76,260	OK
IREN (RetireInc) +50C −70P +23P	$38.13	50	70	23	0	$63.43	$67.60	47	7.86x	39.7%	SAFE	20	$13,700	$76,260	OK
MARA (Joint) +20C −17P +10P	$10.93	20	17	10	0	$24.33	$19.30	7	2.62x	8.5%	OK	50	$21,650	$54,625	OK
MARA (Main) +20C −25P +15P	$10.93	20	25	15	0	$22.69	$17.88	10	27.32x	-37.3%	ITM	200	$7,600	$218,500	OK
MARA (Neville) +25C −15P +13P	$10.93	25	15	13	0	$26.40	$13.82	2	2.43x	-19.0%	ITM	250	$35,000	$273,125	OK
META +480C −650P +330P −610C	$591.30	480	650	330	610	$601.50	$606.17	320	5.38x	44.2%	SAFE	3	$21,900	$177,391	OK
MSTR (RetireInc) +125C −185P +55P −110C	$96.85	125	185	55	110	$161.00	$167.45	130	11.83x	43.2%	SAFE	4	$4,800	$38,740	OK
MU (Joint) +670C −800P +420P −1200C	$849.41	670	800	420	1200	$792.36	$815.43	380	4.31x	50.6%	SAFE	1	$11,472	$84,941	OK
MU (Main) +880C −1010P +320P −1000C	$849.41	880	1010	320	1000	$1028.60	$1060.63	690	5.64x	62.3%	SAFE	5	$74,300	$424,705	OK
MU (Neville) +970C −1110P +370P −1050C	$849.41	970	1110	370	1050	$1220.00	$1251.30	740	3.96x	56.4%	SAFE	2	$50,000	$169,882	OK
NEM +88C −105P +75P −125C	$104.86	88	105	75	125	$114.54	$117.50	30	2.11x	28.5%	SAFE	5	$13,520	$52,432	OK
NOW +80C −110P +90P −120C	$113.55	80	110	90	120	$108.93	$115.28	20	1.72x	20.7%	SAFE	10	$27,850	$113,545	OK
NVDA +140C −175P +70P −215C	$222.71	140	175	70	215	$199.60	$203.66	105	2.76x	68.6%	SAFE	5	$29,800	$111,355	OK
QCOM +190C −210P +90P −230C	$157.12	190	210	90	230	$224.00	$229.96	120	4.53x	42.7%	SAFE	5	$17,000	$78,560	OK
RKLB +115C −135P +45P	$74.76	115	135	45	0	$141.55	$148.96	90	4.39x	39.8%	SAFE	6	$15,930	$44,856	OK
SPCX +150C −195P +135P −131C	$109.55	150	195	135	131	$186.00	$184.95	60	3.22x	-23.2%	ITM	5	$13,500	$54,775	OK

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 71d

Stock: $38.13 HP: 8.2% OTM Current hedge: $61,176/yr Roll-fwd baseline: $51,651/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $107,150/yr IV: HIGH OTM floor: 8% Stress: 33% DD Payback gate: 12mo (1.0yr) 8 PASS ⚠ ER 2026-08-27 AMC (21d) 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	106d	10.8%	$7.00	$-1.55	$-3,100	$48,208	$38,428	$12,969	13	$2,000	2mo	0mo	1.81x	PASS
2	33	Nov 20	106d	13.5%	$6.45	$-1.00	$-2,000	$44,420	$40,150	$16,756	14	$4,000	3mo	0mo	1.88x	PASS
3	32	Nov 20	106d	16.1%	$5.95	$-0.50	$-1,000	$40,976	$43,593	$20,200	15	$6,000	4mo	1mo	1.94x	PASS
4	31	Nov 20	106d	18.7%	$5.50	$-0.05	$-100	$37,877	$45,315	$23,299	16	$8,000	4mo	1mo	2.00x	PASS
5	30	Nov 20	106d	21.3%	$5.00	$0.45	$900	$34,434	$47,381	$26,742	17	$10,000	4mo	1mo	2.06x	PASS
6	29	Nov 20	106d	23.9%	$4.65	$0.80	$1,600	$32,024	$51,858	$29,152	18	$12,000	5mo	1mo	2.12x	PASS
7	28	Nov 20	106d	26.6%	$4.20	$1.25	$2,500	$28,925	$53,924	$32,252	19	$14,000	5mo	1mo	2.19x	PASS
8	27	Nov 20	106d	29.2%	$3.85	$1.60	$3,200	$26,514	$59,089	$34,662	20	$16,000	6mo	1mo	2.25x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 11 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $1.13	$22,600/yr	$48,208/yr	DEFICIT $2,134/mo
CC at MID $47 0.6σ, B $2.20	$44,000/yr	$48,208/yr	DEFICIT $351/mo
AT 33% DRAWDOWN (stock $38.13 → $25.70, hedge $38,428/yr)
CC at SS income stress-adjusted	$9,800/yr	$38,428/yr	DEFICIT $2,386/mo
CC at MID income stress-adjusted	$9,800/yr	$38,428/yr	DEFICIT $2,386/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, 71d

Stock: $38.13 HP: 8.2% OTM Current hedge: $61,176/yr Roll-fwd baseline: $51,651/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $107,150/yr IV: HIGH OTM floor: 8% Stress: 33% DD Payback gate: 12mo (1.0yr) 8 PASS ⚠ ER 2026-08-27 AMC (21d) 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	106d	10.8%	$7.00	$-1.55	$-3,100	$48,208	$38,428	$12,969	13	$2,000	2mo	0mo	1.81x	PASS
2	33	Nov 20	106d	13.5%	$6.45	$-1.00	$-2,000	$44,420	$40,150	$16,756	14	$4,000	3mo	0mo	1.88x	PASS
3	32	Nov 20	106d	16.1%	$5.95	$-0.50	$-1,000	$40,976	$43,593	$20,200	15	$6,000	4mo	1mo	1.94x	PASS
4	31	Nov 20	106d	18.7%	$5.50	$-0.05	$-100	$37,877	$45,315	$23,299	16	$8,000	4mo	1mo	2.00x	PASS
5	30	Nov 20	106d	21.3%	$5.00	$0.45	$900	$34,434	$47,381	$26,742	17	$10,000	4mo	1mo	2.06x	PASS
6	29	Nov 20	106d	23.9%	$4.65	$0.80	$1,600	$32,024	$51,858	$29,152	18	$12,000	5mo	1mo	2.12x	PASS
7	28	Nov 20	106d	26.6%	$4.20	$1.25	$2,500	$28,925	$53,924	$32,252	19	$14,000	5mo	1mo	2.19x	PASS
8	27	Nov 20	106d	29.2%	$3.85	$1.60	$3,200	$26,514	$59,089	$34,662	20	$16,000	6mo	1mo	2.25x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 11 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $1.13	$22,600/yr	$48,208/yr	DEFICIT $2,134/mo
CC at MID $47 0.6σ, B $2.20	$44,000/yr	$48,208/yr	DEFICIT $351/mo
AT 33% DRAWDOWN (stock $38.13 → $25.70, hedge $38,428/yr)
CC at SS income stress-adjusted	$9,800/yr	$38,428/yr	DEFICIT $2,386/mo
CC at MID income stress-adjusted	$9,800/yr	$38,428/yr	DEFICIT $2,386/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, 106d

Stock: $6.16 HP: ITM Current hedge: $21,521/yr SS: $12.45 (unchanged) Account: RetireInc (...7291) Contracts: 25 (2,500 sh) CC income: $13,767/yr IV: HIGH OTM floor: 8% Stress: 33% DD Payback gate: 12mo (1.0yr) 1 PASS ⚠ ER 2026-08-14 AMC (8d) 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	106d	18.8%	$0.90	$1.35	$3,375	$7,748	$9,987	$13,774	8	$6,250	5mo	3mo	4.12x	PASS

POST-REPAIR SUSTAINABILITY CC chain Sep 11 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS BELOW SS $13 — assignment locks a loss · $10, B $0.05	$1,250/yr	$7,748/yr	DEFICIT $541/mo
CC at MID $8 0.6σ, B $0.25	$6,250/yr	$7,748/yr	DEFICIT $125/mo
AT 33% DRAWDOWN (stock $6.16 → $4.13, hedge $9,987/yr)
CC at SS income stress-adjusted	$1,250/yr	$9,987/yr	DEFICIT $728/mo
CC at MID income stress-adjusted	$1,250/yr	$9,987/yr	DEFICIT $728/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.

MDB: HP 150P Maintenance Roll-Out · exp Sep 18 '26, 43d

Stock: $370.56 Current HP: 150P (43d, 59.5% OTM) Current hedge: $1,613/yr Current ML: $28,290 If HP lapses: ML $43,290 (+$15,000) Account: Neville (...0865) Contracts: 1 (100 sh) CC income: $28,718/yr Cost cap: 25% of CC = $7,179/yr IV: MEDIUM 18 qualifying ⚠ ER 2026-09-01 AMC (26d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Nov 20 '26, 106d, 59.5% OTM) | Cost: $854/yr (3% of CC) | New ML: $28,290 = ML | Roll DEBIT $248 | Margin (TIMS): $7,874

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 270P (Nov 20 '26, 106d, 27.1% OTM) | Cost: $6,198/yr (22% of CC) | New ML: $16,290 ↓ $12,000 | Roll DEBIT $1,800 | Margin (TIMS): $6,167

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Nov 20	106d	59.5%	$0.24	$2.48	$854	3%	$28,290	=	D $248
2	155	Nov 20	106d	58.2%	$0.42	$2.65	$912	3%	$27,790	-$500	D $265
3	160	Nov 20	106d	56.8%	$0.47	$2.96	$1,019	4%	$27,290	-$1,000	D $296
4	165	Nov 20	106d	55.5%	$0.33	$3.30	$1,136	4%	$26,790	-$1,500	D $330
5	170	Nov 20	106d	54.1%	$1.03	$3.50	$1,205	4%	$26,290	-$2,000	D $350
6	175	Nov 20	106d	52.8%	$1.31	$3.55	$1,222	4%	$25,790	-$2,500	D $355
7	180	Nov 20	106d	51.4%	$1.42	$4.05	$1,395	5%	$25,290	-$3,000	D $405
8	185	Nov 20	106d	50.1%	$1.73	$4.20	$1,446	5%	$24,790	-$3,500	D $420
9	190	Nov 20	106d	48.7%	$2.12	$4.75	$1,636	6%	$24,290	-$4,000	D $475
10	195	Nov 20	106d	47.4%	$1.76	$5.40	$1,859	6%	$23,790	-$4,500	D $540
11	200	Nov 20	106d	46.0%	$2.65	$5.65	$1,946	7%	$23,290	-$5,000	D $565
12	210	Nov 20	106d	43.3%	$3.75	$6.65	$2,290	8%	$22,290	-$6,000	D $665
▶ 13	270 PROT	Nov 20	106d	27.1%	$12.95	$18.00	$6,198	22%	$16,290	-$12,000	D $1,800

POST-REPAIR SUSTAINABILITY CC chain Sep 11 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $385, B $28.50	$28,500/yr	$854/yr	SELF-FUNDING
CC at MID $430 0.6σ, B $14.45	$14,450/yr	$854/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($385, bid $28.50). 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).