Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$38,670/yr

TOTAL HEDGE (REPAIRED)

$43,070/yr

ANNUAL SAVINGS

$-4,400/yr

ROLL CREDITS

-$8,040

ADDITIONAL MAX LOSS

$4,000

PORTFOLIO ACTION SUMMARY · 42 positions

1 · ROLL NOW2 · REPAIR PLAN7 · LEAPS-ONLY32 · 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
Joint (...1782)8 fortress(es) · 4 actionable · IC $452,110 · notional $1,399,090
IREN (Joint) → +25C −47P +35P −55C	$45.90	25	47	35	55	$44.00	$51.02	12	1.75x	23.7%	SAFE	20	$32,000	$91,800	REPAIR PLAN (37d)
GOOG (Joint) +310C −365C	$326.78	310	0	0	365	$392.50	$347.67	0	1.00x	0.0%	N/A	5	$41,250	$163,390	LEAPS-ONLY
IBIT +75C	$44.50	75	0	0	0	$70.58	$48.94	0	1.00x	0.0%	N/A	50	$22,328	$222,500	LEAPS-ONLY
MSTR (Joint) +180C −170C	$134.63	180	0	0	170	$233.00	$161.40	0	1.00x	0.0%	N/A	10	$53,000	$134,630	LEAPS-ONLY
AMZN +200C −250P +215P	$251.49	200	250	215	0	$267.92	$270.56	35	1.52x	14.5%	SAFE	5	$33,960	$125,745	OK
BMNR (Joint) +23C −18P +25P	$24.64	23	18	25	0	$36.42	$23.09	0	1.00x	-1.5%	ITM	150	$201,300	$369,600	OK
COPX +65C −90P +68P −100C	$94.44	65	90	68	100	$93.40	$94.14	22	1.77x	28.0%	SAFE	20	$56,800	$188,880	OK
MU (Joint) +670C −800P +420P −1100C	$1025.45	670	800	420	1100	$792.36	$811.01	380	4.31x	59.0%	SAFE	1	$11,472	$102,545	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,513,714
IREN (Main) → +25C −47P +35P −55C	$45.90	25	47	35	55	$44.00	$51.02	12	1.75x	23.7%	SAFE	20	$32,000	$91,800	REPAIR PLAN (37d)
IGV +70C −111C	$102.25	70	0	0	111	$96.50	$87.88	0	1.00x	0.0%	N/A	12	$31,800	$122,700	LEAPS-ONLY
MARA (Main) +13C	$11.84	13	0	0	0	$16.75	$10.88	0	1.00x	0.0%	N/A	400	$150,000	$473,600	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$24.64	25	18	45	0	$65.83	$57.80	0	1.00x	-82.6%	ITM	50	$204,150	$123,200	OK
BMNR (Main) +23C −18P +25P	$24.64	23	18	25	0	$53.26	$45.83	0	1.00x	-1.5%	ITM	75	$226,950	$184,800	OK
COIN (Main) +165C −240P +90P −220C	$178.29	165	240	90	220	$210.90	$215.29	150	9.93x	49.5%	SAFE	8	$13,440	$142,632	OK
COIN (Main) +500C −330P +300P −220C	$178.29	500	330	300	220	$563.00	$352.34	30	1.48x	-68.3%	ITM	25	$157,500	$445,725	OK
ETHA +13C −16P +10P	$18.80	13	16	10	0	$17.33	$17.77	6	2.39x	46.8%	SAFE	50	$21,650	$94,000	OK
GLD +320C −450P +330P −470C	$402.28	320	450	330	470	$456.00	$469.30	120	1.88x	18.0%	SAFE	10	$136,000	$402,280	OK
GLXY +38C −38P +18P −30C	$25.98	38	38	18	30	$39.71	$34.47	20	10.05x	32.6%	SAFE	125	$27,625	$324,750	OK
HIMS +10C −20P +5P	$27.59	10	20	5	0	$17.47	$18.90	15	4.04x	81.9%	SAFE	15	$7,395	$41,385	OK
META +480C −650P +330P −665C	$656.89	480	650	330	665	$601.50	$606.05	320	5.38x	49.8%	SAFE	3	$21,900	$197,067	OK
MU (Main) +880C −1010P +340P −1210C	$1025.45	880	1010	340	1210	$1028.60	$1047.73	670	5.51x	66.8%	SAFE	5	$74,300	$512,725	OK
NOW +80C −110P +90P −140C	$132.49	80	110	90	140	$108.93	$113.29	20	1.72x	32.1%	SAFE	10	$27,850	$132,490	OK
NVDA +215C −225P +200P	$224.56	215	225	200	0	$264.80	$229.01	25	1.50x	10.9%	SAFE	10	$49,800	$224,560	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,129,651
DELL → +340C −390P +150P −550C	$551.32	340	390	150	550	$398.00	$405.83	240	5.14x	72.8%	SAFE	3	$17,400	$165,396	ROLL NOW (37d)
MARA (RetireInc) +40C	$11.84	40	0	0	0	$41.04	$11.13	0	1.00x	0.0%	N/A	500	$52,000	$592,000	LEAPS-ONLY
APP +460C −540P +185P −332C	$309.01	460	540	185	332	$588.00	$613.25	355	3.77x	40.1%	SAFE	1	$12,800	$30,901	OK
CLSK +17C −17P +10P	$13.43	17	17	10	0	$20.74	$18.18	7	2.87x	25.5%	SAFE	25	$9,350	$33,575	OK
ENPH +45C −60P +20P	$36.73	45	60	20	0	$56.15	$58.57	40	6.48x	45.5%	SAFE	10	$7,300	$36,730	OK
IREN (RetireInc) +50C −70P +23P −60C	$45.90	50	70	23	60	$63.43	$67.04	47	7.86x	49.9%	SAFE	20	$13,700	$91,800	OK
MSTR (RetireInc) +125C −185P +55P −170C	$134.63	125	185	55	170	$161.00	$165.63	130	11.83x	59.1%	SAFE	4	$4,800	$53,852	OK
QCOM +190C −210P +100P −220C	$174.27	190	210	100	220	$224.00	$226.07	110	4.24x	42.6%	SAFE	5	$17,000	$87,135	OK
RKLB +115C −135P +45P	$63.77	115	135	45	0	$141.55	$147.98	90	4.39x	29.4%	SAFE	6	$15,930	$38,262	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,322,599
SPY +640C	$762.22	640	0	0	0	$764.00	$703.70	0	1.00x	0.0%	N/A	12	$148,800	$914,664	LEAPS-ONLY
AMD +420C −490P +350P −580C	$520.22	420	490	350	580	$489.91	$498.68	140	3.01x	32.7%	SAFE	2	$13,964	$104,044	OK
CRWV +105C −120P +40P −125C	$97.23	105	120	40	125	$125.45	$128.27	80	4.91x	58.9%	SAFE	5	$10,225	$48,615	OK
GOOG (Neville) +300C −345P +310P −365C	$326.78	300	345	310	365	$373.00	$345.11	35	1.48x	5.1%	OK	15	$109,500	$490,170	OK
GOOG (Neville) +340C −405P +360P −365C	$326.78	340	405	360	365	$398.00	$384.21	45	1.88x	-10.2%	ITM	5	$25,500	$163,390	OK
INTC +85C −100P +35P −116C	$105.21	85	100	35	116	$114.00	$115.88	65	3.24x	66.7%	SAFE	5	$14,500	$52,605	OK
IREN (Neville) +45C −65P +21P −60C	$45.90	45	65	21	60	$56.50	$58.58	44	15.67x	54.2%	SAFE	20	$6,000	$91,800	OK
MU (Neville) +970C −1110P +390P −1250C	$1025.45	970	1110	390	1250	$1220.00	$1237.58	720	3.88x	62.0%	SAFE	2	$50,000	$205,090	OK
SNDK +1200C −1380P +810P −1950C	$1783.61	1200	1380	810	1950	$1620.00	$1638.62	570	2.36x	54.6%	SAFE	1	$42,000	$178,361	OK
SPCX +150C −195P +135P −160C	$147.72	150	195	135	160	$186.00	$188.88	60	3.22x	8.6%	OK	5	$13,500	$73,860	OK

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 37d

Stock: $45.90 HP: 23.7% OTM Current hedge: $19,335/yr Baseline (roll-fwd, savings vs this): $24,090/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $85,177/yr IV: HIGH OTM floor: 8% Stress: 25% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-11-05 INTRADAY (57d) 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	Dec 18	100d	25.9%	$2.95	$-2.01	$-4,020	$21,535	$50,005	$2,555	13	$2,000	9mo	0mo	1.81x	PASS
2	33	Dec 18	100d	28.1%	$2.63	$-1.69	$-3,380	$19,199	$46,720	$4,891	14	$4,000	10mo	1mo	1.88x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 09 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $52, B $2.29	$54,960/yr	$21,535/yr	SELF-FUNDING
CC at MID $53 0.6σ, B $2.05	$49,200/yr	$21,535/yr	SELF-FUNDING
AT 25% DRAWDOWN (stock $45.90 → $34.38, hedge $50,005/yr)
CC at SS income stress-adjusted	$15,840/yr	$50,005/yr	DEFICIT $2,847/mo
CC at MID income stress-adjusted	$15,840/yr	$50,005/yr	DEFICIT $2,847/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($53, bid $2.05) in NORMAL markets. Self-funds today.
In 25% drawdown, even MID is short ~$2,847/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

Main (...1299)15 fortress(es) · 3 actionable · overview rows

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 37d

Stock: $45.90 HP: 23.7% OTM Current hedge: $19,335/yr Baseline (roll-fwd, savings vs this): $24,090/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $85,177/yr IV: HIGH OTM floor: 8% Stress: 25% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-11-05 INTRADAY (57d) 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	Dec 18	100d	25.9%	$2.95	$-2.01	$-4,020	$21,535	$50,005	$2,555	13	$2,000	9mo	0mo	1.81x	PASS
2	33	Dec 18	100d	28.1%	$2.63	$-1.69	$-3,380	$19,199	$46,720	$4,891	14	$4,000	10mo	1mo	1.88x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 09 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $52, B $2.29	$54,960/yr	$21,535/yr	SELF-FUNDING
CC at MID $53 0.6σ, B $2.05	$49,200/yr	$21,535/yr	SELF-FUNDING
AT 25% DRAWDOWN (stock $45.90 → $34.38, hedge $50,005/yr)
CC at SS income stress-adjusted	$15,840/yr	$50,005/yr	DEFICIT $2,847/mo
CC at MID income stress-adjusted	$15,840/yr	$50,005/yr	DEFICIT $2,847/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($53, bid $2.05) in NORMAL markets. Self-funds today.
In 25% drawdown, even MID is short ~$2,847/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

DELL: HP 150P Maintenance Roll-Out · exp Oct 16 '26, 37d

Stock: $551.32 Current HP: 150P (37d, 72.8% OTM) Current hedge: $6,304/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $869,311/yr Cost cap: 25% of CC = $217,328/yr IV: HIGH 69 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Nov 20 '26, 72d, 72.8% OTM) | Cost: $152/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $30 | Margin (TIMS): $36,491

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 72d, 29.3% OTM) | Cost: $14,372/yr (2% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,835 | Margin (TIMS): $19,153

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Nov 20	72d	72.8%	$0.01	$0.10	$152	0%	$89,400	=	D $30
2	165	Nov 20	72d	70.1%	$0.04	$0.13	$198	0%	$84,900	-$4,500	D $39
3	150	Dec 18	100d	72.8%	$0.09	$0.22	$241	0%	$89,400	=	D $66
4	160	Dec 18	100d	71.0%	$0.12	$0.22	$241	0%	$86,400	-$3,000	D $66
5	195	Nov 20	72d	64.6%	$0.02	$0.17	$259	0%	$75,900	-$13,500	D $51
6	165	Dec 18	100d	70.1%	$0.03	$0.63	$690	0%	$84,900	-$4,500	D $189
7	240	Nov 20	72d	56.5%	$0.28	$0.69	$1,049	0%	$62,400	-$27,000	D $207
8	220	Nov 20	72d	60.1%	$0.06	$0.73	$1,110	0%	$68,400	-$21,000	D $219
9	200	Nov 20	72d	63.7%	$0.01	$0.75	$1,141	0%	$74,400	-$15,000	D $225
10	220	Dec 18	100d	60.1%	$0.60	$1.08	$1,183	0%	$68,400	-$21,000	D $324
11	195	Dec 18	100d	64.6%	$0.15	$1.15	$1,259	0%	$75,900	-$13,500	D $345
12	200	Dec 18	100d	63.7%	$0.20	$1.15	$1,259	0%	$74,400	-$15,000	D $345
▶ 13	390 PROT	Nov 20	72d	29.3%	$7.80	$9.45	$14,372	2%	$17,400	-$72,000	D $2,835

POST-REPAIR SUSTAINABILITY CC chain Oct 09 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $545, B $43.45	$156,420/yr	$152/yr	SELF-FUNDING
CC at MID $620 0.7σ, B $17.35	$62,460/yr	$152/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($545, bid $43.45). 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).