Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$151,322/yr

TOTAL HEDGE (REPAIRED)

$93,402/yr

ANNUAL SAVINGS

$57,919/yr

ROLL CREDITS

-$1,900

ADDITIONAL MAX LOSS

$10,250

PORTFOLIO ACTION SUMMARY · 46 positions

1 · ROLL NOW5 · REPAIR PLAN6 · LEAPS-ONLY34 · 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	$369.49	270	340	150	410	$362.90	$376.22	190	3.05x	59.4%	SAFE	1	$9,290	$36,949	ROLL NOW (43d)
IREN (Joint) → +25C −47P +35P −51C	$38.54	25	47	35	51	$44.00	$49.65	12	1.75x	9.2%	OK	20	$32,000	$77,080	REPAIR PLAN (71d)
IREN (Main) → +25C −47P +35P −51C	$38.54	25	47	35	51	$44.00	$49.65	12	1.75x	9.2%	OK	20	$32,000	$77,080	REPAIR PLAN (71d)
IREN (Neville) → +45C −65P +21P −51C	$38.54	45	65	21	51	$56.50	$58.62	44	15.67x	45.5%	SAFE	20	$6,000	$77,080	REPAIR PLAN (71d)
IREN (RetireInc) → +50C −70P +23P −51C	$38.54	50	70	23	51	$63.43	$67.36	47	7.86x	40.3%	SAFE	20	$13,700	$77,080	REPAIR PLAN (71d)
UAMY → +10C −12P +8P −8C	$6.24	10	12	8	8	$12.45	$13.10	5	3.08x	-20.3%	ITM	25	$6,000	$15,588	REPAIR PLAN (106d)
GOOG (Joint) +310C −355C	$356.43	310	0	0	355	$392.50	$340.82	0	1.00x	0.0%	N/A	5	$41,250	$178,215	LEAPS-ONLY
IBIT +75C	$36.45	75	0	0	0	$70.58	$48.65	0	1.00x	0.0%	N/A	50	$22,328	$182,225	LEAPS-ONLY
IGV +70C −105C	$99.00	70	0	0	105	$96.50	$86.90	0	1.00x	0.0%	N/A	12	$31,800	$118,800	LEAPS-ONLY
MARA (Main) +40C	$10.90	40	0	0	0	$40.55	$15.51	0	1.00x	0.0%	N/A	200	$11,000	$218,000	LEAPS-ONLY
MSTR (Joint) +180C −110C	$96.50	180	0	0	110	$233.00	$158.29	0	1.00x	0.0%	N/A	10	$53,000	$96,505	LEAPS-ONLY
SPY +640C	$768.86	640	0	0	0	$764.00	$696.23	0	1.00x	0.0%	N/A	12	$148,800	$922,632	LEAPS-ONLY
APP +460C −540P +185P	$335.08	460	540	185	0	$588.00	$609.37	355	3.77x	44.8%	SAFE	1	$12,800	$33,508	OK
BMNR (Joint) +23C −65P +25P −22C	$18.32	23	65	25	22	$30.29	$9.16	40	0.00x	-36.4%	ITM	150	$0	$274,875	OK
BMNR (Main) +25C −45P +15P −22C	$18.32	25	45	15	22	$44.46	$52.43	30	2.59x	18.1%	SAFE	50	$94,550	$91,625	OK
BMNR (Main) +23C −65P +25P −22C	$18.32	23	65	25	22	$39.13	$9.16	40	0.00x	-36.4%	ITM	75	$0	$137,438	OK
BMNR (RetireInc) +10C −18P +10P −22C	$18.32	10	18	10	22	$17.13	$19.60	8	2.28x	45.4%	SAFE	50	$31,250	$91,625	OK
CLSK +17C −17P +10P	$12.78	17	17	10	0	$20.74	$17.52	7	2.87x	21.8%	SAFE	25	$9,350	$31,950	OK
COIN (Main) +165C −240P +85P	$147.20	165	240	85	0	$210.90	$216.89	155	10.23x	42.3%	SAFE	8	$13,440	$117,764	OK
COIN (Main) +500C −330P +300P	$147.20	500	330	300	0	$563.00	$343.57	30	1.48x	-103.8%	ITM	25	$157,500	$368,012	OK
COIN (RetireInc) +145C −200P +75P	$147.20	145	200	75	0	$182.40	$187.77	125	7.31x	49.1%	SAFE	3	$5,940	$44,161	OK
COPX +65C −90P +68P −100C	$86.03	65	90	68	100	$93.40	$94.24	22	1.77x	21.0%	SAFE	20	$56,800	$172,060	OK
CRWV +105C −120P +40P	$86.62	105	120	40	0	$125.45	$129.05	80	4.91x	53.8%	SAFE	5	$10,225	$43,312	OK
DELL +340C −390P +150P −540C	$445.52	340	390	150	540	$398.00	$408.12	240	5.14x	66.3%	SAFE	3	$17,400	$133,658	OK
ENPH +45C −60P +20P	$39.41	45	60	20	0	$56.15	$59.93	40	6.48x	49.3%	SAFE	10	$7,300	$39,410	OK
ETHA +13C −16P +10P	$14.39	13	16	10	0	$17.33	$17.96	6	2.39x	30.5%	SAFE	50	$21,650	$71,950	OK
GLD +320C −450P +330P −480C	$388.57	320	450	330	480	$456.00	$469.45	120	1.88x	15.1%	SAFE	10	$136,000	$388,570	OK
GLXY +38C −38P +18P	$20.02	38	38	18	0	$39.71	$34.50	20	10.05x	12.6%	SAFE	125	$27,625	$250,312	OK
GOOG (Neville) +300C −345P +310P −370C	$356.43	300	345	310	370	$373.00	$340.69	35	1.48x	13.0%	SAFE	15	$109,500	$534,645	OK
GOOG (Neville) +340C −405P +360P −370C	$356.43	340	405	360	370	$398.00	$377.56	45	1.88x	-1.0%	ITM	5	$25,500	$178,215	OK
HIMS +10C −20P +5P	$29.70	10	20	5	0	$17.47	$18.49	15	4.04x	83.2%	SAFE	15	$7,395	$44,550	OK
INTC +85C −100P +35P	$100.58	85	100	35	0	$114.00	$116.85	65	3.24x	65.2%	SAFE	5	$14,500	$50,288	OK
MARA (Joint) +20C −17P +10P	$10.90	20	17	10	0	$24.33	$19.36	7	2.62x	8.3%	OK	50	$21,650	$54,500	OK
MARA (Main) +20C −25P +15P	$10.90	20	25	15	0	$22.69	$17.95	10	27.32x	-37.6%	ITM	200	$7,600	$218,000	OK
MARA (Neville) +25C −15P +13P	$10.90	25	15	13	0	$26.40	$14.15	2	2.43x	-19.3%	ITM	250	$35,000	$272,500	OK
META +480C −650P +330P −610C	$588.91	480	650	330	610	$601.50	$605.19	320	5.38x	44.0%	SAFE	3	$21,900	$176,673	OK
MSTR (RetireInc) +125C −185P +55P −110C	$96.50	125	185	55	110	$161.00	$167.17	130	11.83x	43.0%	SAFE	4	$4,800	$38,602	OK
MU (Joint) +670C −800P +420P −1200C	$895.03	670	800	420	1200	$792.36	$812.04	380	4.31x	53.1%	SAFE	1	$11,472	$89,503	OK
MU (Main) +880C −1010P +320P −1000C	$895.03	880	1010	320	1000	$1028.60	$1055.32	690	5.64x	64.2%	SAFE	5	$74,300	$447,515	OK
MU (Neville) +970C −1110P +370P −1000C	$895.03	970	1110	370	1000	$1220.00	$1245.72	740	3.96x	58.7%	SAFE	2	$50,000	$179,006	OK
NEM +88C −105P +75P −125C	$105.31	88	105	75	125	$114.54	$117.64	30	2.11x	28.8%	SAFE	5	$13,520	$52,654	OK
NOW +80C −110P +90P −150C	$116.62	80	110	90	150	$108.93	$115.63	20	1.72x	22.8%	SAFE	10	$27,850	$116,620	OK
NVDA +140C −175P +70P −215C	$220.11	140	175	70	215	$199.60	$202.69	105	2.76x	68.2%	SAFE	5	$29,800	$110,053	OK
QCOM +190C −210P +90P −230C	$160.98	190	210	90	230	$224.00	$229.01	120	4.53x	44.1%	SAFE	5	$17,000	$80,490	OK
RKLB +115C −135P +45P	$76.37	115	135	45	0	$141.55	$147.74	90	4.39x	41.1%	SAFE	6	$15,930	$45,822	OK
SPCX +150C −195P +135P	$111.79	150	195	135	0	$186.00	$185.63	60	3.22x	-20.8%	ITM	5	$13,500	$55,895	OK

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

Stock: $38.54 HP: 9.2% OTM Current hedge: $55,007/yr Roll-fwd baseline: $46,830/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $103,629/yr IV: HIGH OTM floor: 8% Stress: 31% 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	11.8%	$6.25	$-1.35	$-2,700	$43,042	$37,808	$11,965	13	$2,000	2mo	0mo	1.81x	PASS
2	33	Nov 20	106d	14.4%	$5.85	$-0.95	$-1,900	$40,288	$39,530	$14,719	14	$4,000	3mo	0mo	1.88x	PASS
3	32	Nov 20	106d	17.0%	$5.30	$-0.40	$-800	$36,500	$41,252	$18,507	15	$6,000	4mo	1mo	1.94x	PASS
4	31	Nov 20	106d	19.6%	$4.85	$0.05	$100	$33,401	$45,040	$21,606	16	$8,000	4mo	1mo	2.00x	PASS
5	30	Nov 20	106d	22.2%	$4.45	$0.45	$900	$30,646	$47,106	$24,361	17	$10,000	5mo	1mo	2.06x	PASS
6	29	Nov 20	106d	24.8%	$4.00	$0.90	$1,800	$27,547	$51,582	$27,460	18	$12,000	5mo	1mo	2.12x	PASS
7	28	Nov 20	106d	27.3%	$3.60	$1.30	$2,600	$24,792	$53,992	$30,215	19	$14,000	6mo	1mo	2.19x	PASS
8	27	Nov 20	106d	29.9%	$3.25	$1.65	$3,300	$22,382	$59,502	$32,625	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 $50, B $1.98	$39,600/yr	$43,042/yr	DEFICIT $287/mo
CC at MID $47 0.6σ, B $2.22	$44,400/yr	$43,042/yr	SELF-FUNDING
AT 31% DRAWDOWN (stock $38.54 → $26.50, hedge $37,808/yr)
CC at SS income stress-adjusted	$8,800/yr	$37,808/yr	DEFICIT $2,417/mo
CC at MID income stress-adjusted	$8,800/yr	$37,808/yr	DEFICIT $2,417/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($47, bid $2.22) in NORMAL markets. Self-funds today.
In 31% drawdown, even MID is short ~$2,417/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

Stock: $38.54 HP: 9.2% OTM Current hedge: $55,007/yr Roll-fwd baseline: $46,830/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $103,629/yr IV: HIGH OTM floor: 8% Stress: 31% 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	11.8%	$6.25	$-1.35	$-2,700	$43,042	$37,808	$11,965	13	$2,000	2mo	0mo	1.81x	PASS
2	33	Nov 20	106d	14.4%	$5.85	$-0.95	$-1,900	$40,288	$39,530	$14,719	14	$4,000	3mo	0mo	1.88x	PASS
3	32	Nov 20	106d	17.0%	$5.30	$-0.40	$-800	$36,500	$41,252	$18,507	15	$6,000	4mo	1mo	1.94x	PASS
4	31	Nov 20	106d	19.6%	$4.85	$0.05	$100	$33,401	$45,040	$21,606	16	$8,000	4mo	1mo	2.00x	PASS
5	30	Nov 20	106d	22.2%	$4.45	$0.45	$900	$30,646	$47,106	$24,361	17	$10,000	5mo	1mo	2.06x	PASS
6	29	Nov 20	106d	24.8%	$4.00	$0.90	$1,800	$27,547	$51,582	$27,460	18	$12,000	5mo	1mo	2.12x	PASS
7	28	Nov 20	106d	27.3%	$3.60	$1.30	$2,600	$24,792	$53,992	$30,215	19	$14,000	6mo	1mo	2.19x	PASS
8	27	Nov 20	106d	29.9%	$3.25	$1.65	$3,300	$22,382	$59,502	$32,625	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 $50, B $1.98	$39,600/yr	$43,042/yr	DEFICIT $287/mo
CC at MID $47 0.6σ, B $2.22	$44,400/yr	$43,042/yr	SELF-FUNDING
AT 31% DRAWDOWN (stock $38.54 → $26.50, hedge $37,808/yr)
CC at SS income stress-adjusted	$8,800/yr	$37,808/yr	DEFICIT $2,417/mo
CC at MID income stress-adjusted	$8,800/yr	$37,808/yr	DEFICIT $2,417/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($47, bid $2.22) in NORMAL markets. Self-funds today.
In 31% drawdown, even MID is short ~$2,417/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Neville): HP 21P Roll-Down · exp Oct 16 '26, 71d (no viable candidates)

Stock: $38.54 Current HP: 21P (71d, 45.5% OTM) Current hedge: $8,945/yr Gap: 44 Account: Neville (...0865) Contracts: 20 (2,000 sh) IV: HIGH

No HP candidates passed all filters. Reasons:

22 candidate(s) priced

IREN (RetireInc): HP 23P Roll-Down · exp Oct 16 '26, 71d (no viable candidates)

Stock: $38.54 Current HP: 23P (71d, 40.3% OTM) Current hedge: $12,132/yr Gap: 47 Account: RetireInc (...7291) Contracts: 20 (2,000 sh) IV: HIGH

No HP candidates passed all filters. Reasons:

22 candidate(s) priced

UAMY: HP 8P Roll-Down · exp Nov 20 '26, 106d

Stock: $6.24 HP: ITM Current hedge: $20,230/yr SS: $12.45 (unchanged) Account: RetireInc (...7291) Contracts: 25 (2,500 sh) CC income: $18,986/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	19.8%	$0.85	$1.40	$3,500	$7,317	$9,340	$12,913	8	$6,250	6mo	2mo	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	$7,317/yr	DEFICIT $506/mo
CC at MID $8 0.6σ, B $0.40	$10,000/yr	$7,317/yr	SELF-FUNDING
AT 33% DRAWDOWN (stock $6.24 → $4.19, hedge $9,340/yr)
CC at SS income stress-adjusted	$1,250/yr	$9,340/yr	DEFICIT $674/mo
CC at MID income stress-adjusted	$1,250/yr	$9,340/yr	DEFICIT $674/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($8, bid $0.40) in NORMAL markets. Self-funds today.
In 33% drawdown, even MID is short ~$674/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

Stock: $369.49 Current HP: 150P (43d, 59.4% OTM) Current hedge: $3,820/yr Current ML: $28,290 If HP lapses: ML $43,290 (+$15,000) Account: Neville (...0865) Contracts: 1 (100 sh) CC income: $34,090/yr Cost cap: 25% of CC = $8,523/yr IV: HIGH 15 qualifying ⚠ ER 2026-09-01 AMC (26d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 155P (Nov 20 '26, 106d, 58.1% OTM) | Cost: $723/yr (2% of CC) | New ML: $27,790 ↓ $500 | Roll DEBIT $210 | Margin (TIMS): $7,811

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 300P (Nov 20 '26, 106d, 18.8% OTM) | Cost: $7,971/yr (23% of CC) | New ML: $13,290 ↓ $15,000 | Roll DEBIT $2,315 | Margin (TIMS): $5,736

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	155 CHEAP	Nov 20	106d	58.1%	$0.76	$2.10	$723	2%	$27,790	-$500	D $210
2	160	Nov 20	106d	56.7%	$0.42	$2.34	$806	2%	$27,290	-$1,000	D $234
3	175	Nov 20	106d	52.6%	$1.11	$3.45	$1,188	3%	$25,790	-$2,500	D $345
4	200	Nov 20	106d	45.9%	$0.02	$3.70	$1,274	4%	$23,290	-$5,000	D $370
5	220	Nov 20	106d	40.5%	$5.10	$5.65	$1,946	6%	$21,290	-$7,000	D $565
6	230	Nov 20	106d	37.8%	$6.40	$6.90	$2,376	7%	$20,290	-$8,000	D $690
7	190	Nov 20	106d	48.6%	$0.03	$6.95	$2,393	7%	$24,290	-$4,000	D $695
8	210	Nov 20	106d	43.2%	$3.15	$7.25	$2,496	7%	$22,290	-$6,000	D $725
9	240	Nov 20	106d	35.0%	$7.00	$10.60	$3,650	11%	$19,290	-$9,000	D $1,060
10	250	Nov 20	106d	32.3%	$8.40	$13.30	$4,580	13%	$18,290	-$10,000	D $1,330
11	260	Nov 20	106d	29.6%	$10.65	$15.30	$5,268	15%	$17,290	-$11,000	D $1,530
12	270	Nov 20	106d	26.9%	$12.75	$17.65	$6,078	18%	$16,290	-$12,000	D $1,765
▶ 13	300 PROT	Nov 20	106d	18.8%	$21.35	$23.15	$7,971	23%	$13,290	-$15,000	D $2,315

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $380, B $32.30	$32,300/yr	$723/yr	SELF-FUNDING
CC at MID $430 0.6σ, B $16.15	$16,150/yr	$723/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($380, bid $32.30). 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).