Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$37,486/yr

TOTAL HEDGE (REPAIRED)

$35,040/yr

ANNUAL SAVINGS

$2,446/yr

ROLL CREDITS

-$5,880

ADDITIONAL MAX LOSS

$12,000

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 $1,392,542
IREN (Joint) → +25C −47P +35P −55C	$45.22	25	47	35	55	$44.00	$50.74	12	1.75x	22.6%	SAFE	20	$32,000	$90,430	REPAIR PLAN (37d)
GOOG (Joint) +310C −355C	$328.51	310	0	0	355	$392.50	$346.63	0	1.00x	0.0%	N/A	5	$41,250	$164,255	LEAPS-ONLY
IBIT +75C	$44.28	75	0	0	0	$70.58	$49.22	0	1.00x	0.0%	N/A	50	$22,328	$221,400	LEAPS-ONLY
MSTR (Joint) +180C −170C	$133.26	180	0	0	170	$233.00	$162.27	0	1.00x	0.0%	N/A	10	$53,000	$133,260	LEAPS-ONLY
AMZN +200C −250P +215P	$252.21	200	250	215	0	$267.92	$271.08	35	1.52x	14.8%	SAFE	5	$33,960	$126,105	OK
BMNR (Joint) +23C −18P +25P	$24.23	23	18	25	0	$36.42	$23.08	0	1.00x	-3.2%	ITM	150	$201,300	$363,450	OK
COPX +65C −90P +68P −100C	$95.34	65	90	68	100	$93.40	$95.09	22	1.77x	28.7%	SAFE	20	$56,800	$190,680	OK
MU (Joint) +670C −800P +420P −1100C	$1029.62	670	800	420	1100	$792.36	$815.64	380	4.31x	59.2%	SAFE	1	$11,472	$102,962	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,488,017
IREN (Main) → +25C −47P +35P −55C	$45.22	25	47	35	55	$44.00	$50.74	12	1.75x	22.6%	SAFE	20	$32,000	$90,430	REPAIR PLAN (37d)
IGV +70C −111C	$101.84	70	0	0	111	$96.50	$87.81	0	1.00x	0.0%	N/A	12	$31,800	$122,208	LEAPS-ONLY
MARA (Main) +13C	$11.85	13	0	0	0	$16.75	$10.89	0	1.00x	0.0%	N/A	400	$150,000	$474,000	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$24.23	25	18	45	0	$65.83	$57.67	0	1.00x	-85.7%	ITM	50	$204,150	$121,150	OK
BMNR (Main) +23C −18P +25P	$24.23	23	18	25	0	$53.26	$45.82	0	1.00x	-3.2%	ITM	75	$226,950	$181,725	OK
COIN (Main) +165C −240P +90P −220C	$175.79	165	240	90	220	$210.90	$214.64	150	9.93x	48.8%	SAFE	8	$13,440	$140,632	OK
COIN (Main) +500C −330P +300P −220C	$175.79	500	330	300	220	$563.00	$353.71	30	1.48x	-70.7%	ITM	25	$157,500	$439,475	OK
ETHA +13C −16P +10P	$18.59	13	16	10	0	$17.33	$17.64	6	2.39x	46.2%	SAFE	50	$21,650	$92,950	OK
GLD +320C −450P +330P −470C	$403.15	320	450	330	470	$456.00	$469.45	120	1.88x	18.1%	SAFE	10	$136,000	$403,150	OK
GLXY +38C −38P +18P −30C	$25.15	38	38	18	30	$39.71	$34.62	20	10.05x	30.4%	SAFE	125	$27,625	$314,375	OK
HIMS +10C −20P +5P	$27.61	10	20	5	0	$17.47	$18.84	15	4.04x	81.9%	SAFE	15	$7,395	$41,415	OK
META +480C −650P +330P −665C	$654.89	480	650	330	665	$601.50	$606.18	320	5.38x	49.6%	SAFE	3	$21,900	$196,467	OK
MU (Main) +880C −1010P +340P −1210C	$1029.62	880	1010	340	1210	$1028.60	$1052.84	670	5.51x	67.0%	SAFE	5	$74,300	$514,810	OK
NOW +80C −110P +90P −140C	$131.54	80	110	90	140	$108.93	$113.75	20	1.72x	31.6%	SAFE	10	$27,850	$131,540	OK
NVDA +215C −225P +200P	$223.69	215	225	200	0	$264.80	$228.48	25	1.50x	10.6%	SAFE	10	$49,800	$223,690	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,123,358
DELL → +340C −390P +150P −550C	$536.05	340	390	150	550	$398.00	$405.56	240	5.14x	72.0%	SAFE	3	$17,400	$160,815	ROLL NOW (37d)
MARA (RetireInc) +40C	$11.85	40	0	0	0	$41.04	$10.87	0	1.00x	0.0%	N/A	500	$52,000	$592,500	LEAPS-ONLY
APP +460C −540P +185P	$304.92	460	540	185	0	$588.00	$609.29	355	3.77x	39.3%	SAFE	1	$12,800	$30,492	OK
CLSK +17C −17P +10P	$13.29	17	17	10	0	$20.74	$17.83	7	2.87x	24.8%	SAFE	25	$9,350	$33,238	OK
ENPH +45C −60P +20P	$36.73	45	60	20	0	$56.15	$58.54	40	6.48x	45.5%	SAFE	10	$7,300	$36,730	OK
IREN (RetireInc) +50C −70P +23P −60C	$45.22	50	70	23	60	$63.43	$66.61	47	7.86x	49.1%	SAFE	20	$13,700	$90,430	OK
MSTR (RetireInc) +125C −185P +55P −170C	$133.26	125	185	55	170	$161.00	$165.80	130	11.83x	58.7%	SAFE	4	$4,800	$53,304	OK
QCOM +190C −210P +100P −220C	$175.62	190	210	100	220	$224.00	$227.14	110	4.24x	43.1%	SAFE	5	$17,000	$87,810	OK
RKLB +115C −135P +45P	$63.40	115	135	45	0	$141.55	$148.35	90	4.39x	29.0%	SAFE	6	$15,930	$38,040	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,322,524
SPY +640C	$762.34	640	0	0	0	$764.00	$704.30	0	1.00x	0.0%	N/A	12	$148,800	$914,808	LEAPS-ONLY
AMD +420C −490P +350P −580C	$520.11	420	490	350	580	$489.91	$498.97	140	3.01x	32.7%	SAFE	2	$13,964	$104,022	OK
CRWV +105C −120P +40P −125C	$94.79	105	120	40	125	$125.45	$128.20	80	4.91x	57.8%	SAFE	5	$10,225	$47,395	OK
GOOG (Neville) +300C −345P +310P −355C	$328.51	300	345	310	355	$373.00	$345.21	35	1.48x	5.6%	OK	15	$109,500	$492,765	OK
GOOG (Neville) +340C −405P +360P −355C	$328.51	340	405	360	355	$398.00	$384.05	45	1.88x	-9.6%	ITM	5	$25,500	$164,255	OK
INTC +85C −100P +35P −116C	$105.97	85	100	35	116	$114.00	$116.10	65	3.24x	67.0%	SAFE	5	$14,500	$52,985	OK
IREN (Neville) +45C −65P +21P −60C	$45.22	45	65	21	60	$56.50	$58.22	44	15.67x	53.6%	SAFE	20	$6,000	$90,430	OK
MU (Neville) +970C −1110P +390P −1250C	$1029.62	970	1110	390	1250	$1220.00	$1242.47	720	3.88x	62.1%	SAFE	2	$50,000	$205,924	OK
SNDK +1200C −1380P +810P −1950C	$1762.15	1200	1380	810	1950	$1620.00	$1638.87	570	2.36x	54.0%	SAFE	1	$42,000	$176,215	OK
SPCX +150C −195P +135P	$147.45	150	195	135	0	$186.00	$188.79	60	3.22x	8.4%	OK	5	$13,500	$73,725	OK

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

Stock: $45.22 HP: 22.6% OTM Current hedge: $18,743/yr Baseline (roll-fwd, savings vs this): $24,090/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $84,685/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 3 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	32	Dec 18	100d	29.2%	$2.40	$-1.47	$-2,940	$17,520	$39,420	$6,570	15	$6,000	11mo	1mo	1.94x	PASS
2	33	Dec 18	100d	27.0%	$2.70	$-1.77	$-3,540	$19,710	$47,085	$4,380	14	$4,000	11mo	1mo	1.88x	PASS
3	34	Dec 18	100d	24.8%	$3.00	$-2.07	$-4,140	$21,900	$50,735	$2,190	13	$2,000	11mo	0mo	1.81x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $2.27	$54,480/yr	$17,520/yr	SELF-FUNDING
CC at MID $52 0.6σ, B $2.02	$48,480/yr	$17,520/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $45.22 → $34.28, hedge $39,420/yr)
CC at SS income stress-adjusted	$12,720/yr	$39,420/yr	DEFICIT $2,225/mo
CC at MID income stress-adjusted	$12,720/yr	$39,420/yr	DEFICIT $2,225/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($52, bid $2.02) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$2,225/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: $45.22 HP: 22.6% OTM Current hedge: $18,743/yr Baseline (roll-fwd, savings vs this): $24,090/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $84,685/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 3 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	32	Dec 18	100d	29.2%	$2.40	$-1.47	$-2,940	$17,520	$39,420	$6,570	15	$6,000	11mo	1mo	1.94x	PASS
2	33	Dec 18	100d	27.0%	$2.70	$-1.77	$-3,540	$19,710	$47,085	$4,380	14	$4,000	11mo	1mo	1.88x	PASS
3	34	Dec 18	100d	24.8%	$3.00	$-2.07	$-4,140	$21,900	$50,735	$2,190	13	$2,000	11mo	0mo	1.81x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $2.27	$54,480/yr	$17,520/yr	SELF-FUNDING
CC at MID $52 0.6σ, B $2.02	$48,480/yr	$17,520/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $45.22 → $34.28, hedge $39,420/yr)
CC at SS income stress-adjusted	$12,720/yr	$39,420/yr	DEFICIT $2,225/mo
CC at MID income stress-adjusted	$12,720/yr	$39,420/yr	DEFICIT $2,225/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($52, bid $2.02) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$2,225/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: $536.05 Current HP: 150P (37d, 72.0% 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: $788,168/yr Cost cap: 25% of CC = $197,042/yr IV: HIGH 66 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Nov 20 '26, 72d, 72.0% OTM) | Cost: $152/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $30 | Margin (TIMS): $35,236

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 72d, 27.2% OTM) | Cost: $15,056/yr (2% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,970 | Margin (TIMS): $18,006

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Nov 20	72d	72.0%	$0.01	$0.10	$152	0%	$89,400	=	D $30
2	150	Dec 18	100d	72.0%	$0.09	$0.22	$241	0%	$89,400	=	D $66
3	160	Dec 18	100d	70.2%	$0.12	$0.22	$241	0%	$86,400	-$3,000	D $66
4	165	Nov 20	72d	69.2%	$0.04	$0.17	$259	0%	$84,900	-$4,500	D $51
5	195	Nov 20	72d	63.6%	$0.02	$0.18	$274	0%	$75,900	-$13,500	D $54
6	200	Nov 20	72d	62.7%	$0.01	$0.48	$730	0%	$74,400	-$15,000	D $144
7	210	Nov 20	72d	60.8%	$0.01	$0.53	$806	0%	$71,400	-$18,000	D $159
8	220	Nov 20	72d	59.0%	$0.07	$0.60	$912	0%	$68,400	-$21,000	D $180
9	200	Dec 18	100d	62.7%	$0.21	$1.15	$1,259	0%	$74,400	-$15,000	D $345
10	260	Nov 20	72d	51.5%	$0.60	$0.83	$1,262	0%	$56,400	-$33,000	D $249
11	220	Dec 18	100d	59.0%	$0.60	$1.16	$1,270	0%	$68,400	-$21,000	D $348
12	195	Dec 18	100d	63.6%	$0.17	$1.19	$1,303	0%	$75,900	-$13,500	D $357
▶ 13	390 PROT	Nov 20	72d	27.2%	$8.65	$9.90	$15,056	2%	$17,400	-$72,000	D $2,970

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $530, B $40.95	$147,420/yr	$152/yr	SELF-FUNDING
CC at MID $600 0.7σ, B $16.00	$57,600/yr	$152/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($530, bid $40.95). 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).