Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$48,261/yr

TOTAL HEDGE (REPAIRED)

$42,768/yr

ANNUAL SAVINGS

$5,493/yr

ROLL CREDITS

-$7,040

ADDITIONAL MAX LOSS

$8,000

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 $1,365,823
IREN (Joint) → +25C −47P +35P −55C	$43.67	25	47	35	55	$44.00	$50.65	12	1.75x	19.9%	SAFE	20	$32,000	$87,340	REPAIR PLAN (36d)
GOOG (Joint) +310C −355C	$327.14	310	0	0	355	$392.50	$347.56	0	1.00x	0.0%	N/A	5	$41,250	$163,570	LEAPS-ONLY
IBIT +75C	$43.70	75	0	0	0	$70.58	$49.12	0	1.00x	0.0%	N/A	50	$22,328	$218,500	LEAPS-ONLY
MSTR (Joint) +180C −170C	$130.30	180	0	0	170	$233.00	$163.55	0	1.00x	0.0%	N/A	10	$53,000	$130,300	LEAPS-ONLY
AMZN +200C −250P +215P	$252.27	200	250	215	0	$267.92	$271.00	35	1.52x	14.8%	SAFE	5	$33,960	$126,135	OK
BMNR (Joint) +23C −18P +25P	$24.19	23	18	25	0	$36.42	$23.21	0	1.00x	-3.3%	ITM	150	$201,300	$362,850	OK
COPX +65C −90P +68P −100C	$89.17	65	90	68	100	$93.40	$96.19	22	1.77x	23.7%	SAFE	20	$56,800	$178,340	OK
MU (Joint) +670C −800P +420P −1100C	$987.88	670	800	420	1100	$792.36	$813.37	380	4.31x	57.5%	SAFE	1	$11,472	$98,788	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,407,336
IREN (Main) → +25C −47P +35P −55C	$43.67	25	47	35	55	$44.00	$50.65	12	1.75x	19.9%	SAFE	20	$32,000	$87,340	REPAIR PLAN (36d)
IGV +70C −111C	$102.10	70	0	0	111	$96.50	$88.68	0	1.00x	0.0%	N/A	12	$31,800	$122,520	LEAPS-ONLY
MARA (Main) +13C	$11.28	13	0	0	0	$16.75	$10.84	0	1.00x	0.0%	N/A	400	$150,000	$451,200	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$24.19	25	18	45	0	$65.83	$57.25	0	1.00x	-86.0%	ITM	50	$204,150	$120,950	OK
BMNR (Main) +23C −18P +25P	$24.19	23	18	25	0	$53.26	$45.92	0	1.00x	-3.3%	ITM	75	$226,950	$181,425	OK
COIN (Main) +165C −240P +90P −220C	$172.00	165	240	90	220	$210.90	$215.81	150	9.93x	47.7%	SAFE	8	$13,440	$137,600	OK
COIN (Main) +500C −330P +300P −220C	$172.00	500	330	300	220	$563.00	$352.88	30	1.48x	-74.4%	ITM	25	$157,500	$430,000	OK
ETHA +13C −16P +10P	$18.36	13	16	10	0	$17.33	$17.86	6	2.39x	45.5%	SAFE	50	$21,650	$91,800	OK
GLD +320C −450P +330P −470C	$400.80	320	450	330	470	$456.00	$470.20	120	1.88x	17.7%	SAFE	10	$136,000	$400,800	OK
GLXY +38C −38P +18P −30C	$24.27	38	38	18	30	$39.71	$34.91	20	10.05x	27.9%	SAFE	125	$27,625	$303,375	OK
HIMS +10C −20P +5P	$27.76	10	20	5	0	$17.47	$19.22	15	4.04x	82.0%	SAFE	15	$7,395	$41,640	OK
META +480C −650P +330P −665C	$644.72	480	650	330	665	$601.50	$605.37	320	5.38x	48.8%	SAFE	3	$21,900	$193,416	OK
MU (Main) +880C −1010P +340P −1210C	$987.88	880	1010	340	1210	$1028.60	$1050.35	670	5.51x	65.6%	SAFE	5	$74,300	$493,940	OK
NOW +80C −110P +90P −140C	$133.54	80	110	90	140	$108.93	$113.52	20	1.72x	32.6%	SAFE	10	$27,850	$133,540	OK
NVDA +215C −225P +200P	$217.79	215	225	200	0	$264.80	$227.79	25	1.50x	8.2%	OK	10	$49,800	$217,790	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,080,924
DELL → +340C −390P +150P −550C	$516.65	340	390	150	550	$398.00	$406.27	240	5.14x	71.0%	SAFE	3	$17,400	$154,995	ROLL NOW (36d)
MARA (RetireInc) +40C	$11.28	40	0	0	0	$41.04	$11.08	0	1.00x	0.0%	N/A	500	$52,000	$564,000	LEAPS-ONLY
APP +460C −540P +185P	$309.48	460	540	185	0	$588.00	$614.77	355	3.77x	40.2%	SAFE	1	$12,800	$30,948	OK
CLSK +17C −17P +10P	$12.70	17	17	10	0	$20.74	$18.07	7	2.87x	21.2%	SAFE	25	$9,350	$31,738	OK
ENPH +45C −60P +20P	$35.88	45	60	20	0	$56.15	$59.07	40	6.48x	44.3%	SAFE	10	$7,300	$35,880	OK
IREN (RetireInc) +50C −70P +23P −60C	$43.67	50	70	23	60	$63.43	$66.66	47	7.86x	47.3%	SAFE	20	$13,700	$87,340	OK
MSTR (RetireInc) +125C −185P +55P −170C	$130.30	125	185	55	170	$161.00	$166.79	130	11.83x	57.8%	SAFE	4	$4,800	$52,120	OK
QCOM +190C −210P +100P −220C	$171.50	190	210	100	220	$224.00	$226.49	110	4.24x	41.7%	SAFE	5	$17,000	$85,750	OK
RKLB +115C −135P +45P	$63.59	115	135	45	0	$141.55	$148.82	90	4.39x	29.2%	SAFE	6	$15,930	$38,154	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,290,507
SPY +640C	$757.63	640	0	0	0	$764.00	$703.17	0	1.00x	0.0%	N/A	12	$148,800	$909,156	LEAPS-ONLY
AMD +420C −490P +350P −580C	$507.18	420	490	350	580	$489.91	$498.64	140	3.01x	31.0%	SAFE	2	$13,964	$101,436	OK
CRWV +105C −120P +40P −125C	$89.03	105	120	40	125	$125.45	$128.30	80	4.91x	55.1%	SAFE	5	$10,225	$44,515	OK
GOOG (Neville) +300C −345P +310P −355C	$327.14	300	345	310	355	$373.00	$346.01	35	1.48x	5.2%	OK	15	$109,500	$490,710	OK
GOOG (Neville) +340C −405P +360P −355C	$327.14	340	405	360	355	$398.00	$384.72	45	1.88x	-10.0%	ITM	5	$25,500	$163,570	OK
INTC +85C −100P +35P −116C	$99.78	85	100	35	116	$114.00	$115.93	65	3.24x	64.9%	SAFE	5	$14,500	$49,890	OK
IREN (Neville) +45C −65P +21P −60C	$43.67	45	65	21	60	$56.50	$58.22	44	15.67x	51.9%	SAFE	20	$6,000	$87,340	OK
MU (Neville) +970C −1110P +390P −1250C	$987.88	970	1110	390	1250	$1220.00	$1239.72	720	3.88x	60.5%	SAFE	2	$50,000	$197,576	OK
SNDK +1200C −1380P +810P −1950C	$1696.44	1200	1380	810	1950	$1620.00	$1636.66	570	2.36x	52.3%	SAFE	1	$42,000	$169,644	OK
SPCX +150C −195P +135P	$153.34	150	195	135	0	$186.00	$189.88	60	3.22x	12.0%	SAFE	5	$13,500	$76,670	OK

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 36d

Stock: $43.67 HP: 19.9% OTM Current hedge: $24,131/yr Baseline (roll-fwd, savings vs this): $26,545/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $84,716/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (56d) 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	33	Dec 18	99d	24.4%	$2.90	$-1.76	$-3,520	$21,384	$49,552	$5,162	14	$4,000	9mo	1mo	1.88x	PASS
2	31	Dec 18	99d	29.0%	$2.27	$-1.13	$-2,260	$16,738	$39,818	$9,807	16	$8,000	10mo	1mo	2.00x	PASS
3	32	Dec 18	99d	26.7%	$2.66	$-1.52	$-3,040	$19,614	$43,874	$6,931	15	$6,000	10mo	1mo	1.94x	PASS
4	34	Dec 18	99d	22.1%	$3.30	$-2.16	$-4,320	$24,333	$46,602	$2,212	13	$2,000	11mo	0mo	1.81x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.43	$28,600/yr	$21,384/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.40	$48,000/yr	$21,384/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $43.67 → $33.11, hedge $49,552/yr)
CC at SS income stress-adjusted	$11,600/yr	$49,552/yr	DEFICIT $3,163/mo
CC at MID income stress-adjusted	$11,600/yr	$49,552/yr	DEFICIT $3,163/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.40) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$3,163/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, 36d

Stock: $43.67 HP: 19.9% OTM Current hedge: $24,131/yr Baseline (roll-fwd, savings vs this): $26,545/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $84,716/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (56d) 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	33	Dec 18	99d	24.4%	$2.90	$-1.76	$-3,520	$21,384	$49,552	$5,162	14	$4,000	9mo	1mo	1.88x	PASS
2	31	Dec 18	99d	29.0%	$2.27	$-1.13	$-2,260	$16,738	$39,818	$9,807	16	$8,000	10mo	1mo	2.00x	PASS
3	32	Dec 18	99d	26.7%	$2.66	$-1.52	$-3,040	$19,614	$43,874	$6,931	15	$6,000	10mo	1mo	1.94x	PASS
4	34	Dec 18	99d	22.1%	$3.30	$-2.16	$-4,320	$24,333	$46,602	$2,212	13	$2,000	11mo	0mo	1.81x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.43	$28,600/yr	$21,384/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.40	$48,000/yr	$21,384/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $43.67 → $33.11, hedge $49,552/yr)
CC at SS income stress-adjusted	$11,600/yr	$49,552/yr	DEFICIT $3,163/mo
CC at MID income stress-adjusted	$11,600/yr	$49,552/yr	DEFICIT $3,163/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.40) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$3,163/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

DELL: HP 150P Maintenance Roll-Out · exp Oct 16 '26, 36d

Stock: $516.65 Current HP: 150P (36d, 71.0% OTM) Current hedge: $3,194/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $723,626/yr Cost cap: 25% of CC = $180,907/yr IV: HIGH 60 qualifying ⚠ ER 2026-11-27 INTRADAY (78d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Dec 18 '26, 99d, 71.0% OTM) | Cost: $243/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $66 | Margin (TIMS): $29,825

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 71d, 24.5% OTM) | Cost: $17,582/yr (2% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $3,420 | Margin (TIMS): $12,985

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Dec 18	99d	71.0%	$0.01	$0.22	$243	0%	$89,400	=	D $66
2	195	Nov 20	71d	62.3%	$0.02	$0.18	$278	0%	$75,900	-$13,500	D $54
3	150	Nov 20	71d	71.0%	$0.01	$0.20	$308	0%	$89,400	=	D $60
4	165	Dec 18	99d	68.1%	$0.14	$0.63	$697	0%	$84,900	-$4,500	D $189
5	200	Nov 20	71d	61.3%	$0.01	$0.56	$864	0%	$74,400	-$15,000	D $168
6	165	Nov 20	71d	68.1%	$0.08	$0.57	$879	0%	$84,900	-$4,500	D $171
7	195	Dec 18	99d	62.3%	$0.04	$0.95	$1,051	0%	$75,900	-$13,500	D $285
8	230	Nov 20	71d	55.5%	$0.16	$0.75	$1,157	0%	$65,400	-$24,000	D $225
9	220	Nov 20	71d	57.4%	$0.06	$0.78	$1,203	0%	$68,400	-$21,000	D $234
10	200	Dec 18	99d	61.3%	$0.20	$1.12	$1,239	0%	$74,400	-$15,000	D $336
11	210	Dec 18	99d	59.4%	$0.16	$1.57	$1,737	0%	$71,400	-$18,000	D $471
12	230	Dec 18	99d	55.5%	$0.39	$1.60	$1,770	0%	$65,400	-$24,000	D $480
▶ 13	390 PROT	Nov 20	71d	24.5%	$9.50	$11.40	$17,582	2%	$17,400	-$72,000	D $3,420

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $510, B $43.90	$131,700/yr	$243/yr	SELF-FUNDING
CC at MID $580 0.6σ, B $18.95	$56,850/yr	$243/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($510, bid $43.90). 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).