Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$43,800/yr

TOTAL HEDGE (REPAIRED)

$48,418/yr

ANNUAL SAVINGS

$-4,618/yr

ROLL CREDITS

-$9,280

ADDITIONAL MAX LOSS

$4,000

PORTFOLIO ACTION SUMMARY · 42 positions

2 · REPAIR SOON1 · ROLL NOW7 · 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 $1,425,853
IREN (Joint) → +25C −47P +35P −55C	$43.92	25	47	35	55	$44.00	$50.70	12	1.75x	20.3%	SAFE	20	$32,000	$87,840	REPAIR SOON (35d)
GOOG (Joint) +310C −355C	$336.55	310	0	0	355	$392.50	$347.60	0	1.00x	0.0%	N/A	5	$41,250	$168,275	LEAPS-ONLY
IBIT +75C	$44.99	75	0	0	0	$70.58	$49.33	0	1.00x	0.0%	N/A	50	$22,328	$224,950	LEAPS-ONLY
MSTR (Joint) +180C −170C	$137.27	180	0	0	170	$233.00	$162.82	0	1.00x	0.0%	N/A	10	$53,000	$137,270	LEAPS-ONLY
AMZN +200C −250P +215P	$256.32	200	250	215	0	$267.92	$270.67	35	1.52x	16.1%	SAFE	5	$33,960	$128,160	OK
BMNR (Joint) +23C −18P +25P	$26.86	23	18	25	0	$36.42	$23.59	0	1.00x	6.9%	OK	150	$201,300	$402,900	OK
COPX +65C −90P +68P	$89.68	65	90	68	0	$93.40	$95.54	22	1.77x	24.2%	SAFE	20	$56,800	$179,360	OK
MU (Joint) +670C −800P +420P −1100C	$970.98	670	800	420	1100	$792.36	$807.36	380	4.31x	56.7%	SAFE	1	$11,472	$97,098	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,539,686
IREN (Main) → +25C −47P +35P −55C	$43.92	25	47	35	55	$44.00	$50.70	12	1.75x	20.3%	SAFE	20	$32,000	$87,840	REPAIR SOON (35d)
IGV +70C −111C	$102.44	70	0	0	111	$96.50	$88.41	0	1.00x	0.0%	N/A	12	$31,800	$122,928	LEAPS-ONLY
MARA (Main) +13C	$12.32	13	0	0	0	$16.75	$10.89	0	1.00x	0.0%	N/A	400	$150,000	$492,800	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$26.86	25	18	45	0	$65.83	$57.46	0	1.00x	-67.5%	ITM	50	$204,150	$134,300	OK
BMNR (Main) +23C −18P +25P	$26.86	23	18	25	0	$53.26	$46.20	0	1.00x	6.9%	OK	75	$226,950	$201,450	OK
COIN (Main) +165C −240P +90P −220C	$181.01	165	240	90	220	$210.90	$218.68	150	9.93x	50.3%	SAFE	8	$13,440	$144,808	OK
COIN (Main) +500C −330P +300P −220C	$181.01	500	330	300	220	$563.00	$357.64	30	1.48x	-65.7%	ITM	25	$157,500	$452,525	OK
ETHA +13C −16P +10P	$19.89	13	16	10	0	$17.33	$18.02	6	2.39x	49.7%	SAFE	50	$21,650	$99,450	OK
GLD +320C −450P +330P −470C	$402.30	320	450	330	470	$456.00	$469.40	120	1.88x	18.0%	SAFE	10	$136,000	$402,300	OK
GLXY +38C −38P +18P	$25.83	38	38	18	0	$39.71	$35.62	20	10.05x	32.2%	SAFE	125	$27,625	$322,875	OK
HIMS +10C −20P +5P	$27.20	10	20	5	0	$17.47	$19.02	15	4.04x	81.6%	SAFE	15	$7,395	$40,800	OK
META +480C −650P +330P −665C	$654.50	480	650	330	665	$601.50	$604.27	320	5.38x	49.6%	SAFE	3	$21,900	$196,350	OK
MU (Main) +880C −1010P +340P −1210C	$970.98	880	1010	340	1210	$1028.60	$1044.83	670	5.51x	65.0%	SAFE	5	$74,300	$485,490	OK
NOW +80C −110P +90P −140C	$133.89	80	110	90	140	$108.93	$113.99	20	1.72x	32.8%	SAFE	10	$27,850	$133,890	OK
NVDA +215C −225P +200P	$221.88	215	225	200	0	$264.80	$229.05	25	1.50x	9.9%	OK	10	$49,800	$221,880	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,158,141
DELL → +340C −390P +150P −550C	$557.54	340	390	150	550	$398.00	$405.83	240	5.14x	73.1%	SAFE	3	$17,400	$167,262	ROLL NOW (35d)
MARA (RetireInc) +40C	$12.32	40	0	0	0	$41.04	$11.28	0	1.00x	0.0%	N/A	500	$52,000	$616,000	LEAPS-ONLY
APP +460C −540P +185P	$313.51	460	540	185	0	$588.00	$607.53	355	3.77x	41.0%	SAFE	1	$12,800	$31,351	OK
CLSK +17C −17P +10P	$13.76	17	17	10	0	$20.74	$18.51	7	2.87x	27.3%	SAFE	25	$9,350	$34,400	OK
ENPH +45C −60P +20P	$37.27	45	60	20	0	$56.15	$58.90	40	6.48x	46.3%	SAFE	10	$7,300	$37,270	OK
IREN (RetireInc) +50C −70P +23P −55C	$43.92	50	70	23	55	$63.43	$66.95	47	7.86x	47.6%	SAFE	20	$13,700	$87,840	OK
MSTR (RetireInc) +125C −185P +55P −170C	$137.27	125	185	55	170	$161.00	$165.51	130	11.83x	59.9%	SAFE	4	$4,800	$54,908	OK
QCOM +190C −210P +100P −220C	$181.72	190	210	100	220	$224.00	$226.18	110	4.24x	45.0%	SAFE	5	$17,000	$90,860	OK
RKLB +115C −135P +45P	$63.75	115	135	45	0	$141.55	$148.80	90	4.39x	29.4%	SAFE	6	$15,930	$38,250	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,309,670
SPY +640C	$765.49	640	0	0	0	$764.00	$704.33	0	1.00x	0.0%	N/A	12	$148,800	$918,588	LEAPS-ONLY
AMD +420C −490P +350P −580C	$513.21	420	490	350	580	$489.91	$498.41	140	3.01x	31.8%	SAFE	2	$13,964	$102,642	OK
CRWV +105C −120P +40P −125C	$90.31	105	120	40	125	$125.45	$128.43	80	4.91x	55.7%	SAFE	5	$10,225	$45,155	OK
GOOG (Neville) +300C −345P +310P −355C	$336.55	300	345	310	355	$373.00	$345.00	35	1.48x	7.9%	OK	15	$109,500	$504,825	OK
GOOG (Neville) +340C −405P +360P −355C	$336.55	340	405	360	355	$398.00	$384.09	45	1.88x	-7.0%	ITM	5	$25,500	$168,275	OK
INTC +85C −100P +35P −116C	$104.06	85	100	35	116	$114.00	$115.81	65	3.24x	66.4%	SAFE	5	$14,500	$52,030	OK
IREN (Neville) +45C −65P +21P −55C	$43.92	45	65	21	55	$56.50	$58.39	44	15.67x	52.2%	SAFE	20	$6,000	$87,840	OK
MU (Neville) +970C −1110P +390P −1250C	$970.98	970	1110	390	1250	$1220.00	$1234.38	720	3.88x	59.8%	SAFE	2	$50,000	$194,196	OK
SNDK +1200C −1380P +810P −1950C	$1619.59	1200	1380	810	1950	$1620.00	$1636.57	570	2.36x	50.0%	SAFE	1	$42,000	$161,959	OK
SPCX +150C −195P +135P	$148.32	150	195	135	0	$186.00	$189.44	60	3.22x	9.0%	OK	5	$13,500	$74,160	OK

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

Stock: $43.92 HP: 20.3% OTM Current hedge: $21,900/yr Baseline (roll-fwd, savings vs this): $27,189/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $73,457/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (55d) 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	98d	22.6%	$3.25	$-2.32	$-4,640	$24,209	$47,078	$2,980	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Dec 18	98d	24.9%	$2.85	$-1.92	$-3,840	$21,230	$46,556	$5,959	14	$4,000	8mo	1mo	1.88x	PASS
3	32	Dec 18	98d	27.1%	$2.58	$-1.65	$-3,300	$19,218	$42,832	$7,970	15	$6,000	9mo	1mo	1.94x	PASS
4	31	Dec 18	98d	29.4%	$2.32	$-1.39	$-2,780	$17,282	$39,107	$9,907	16	$8,000	10mo	1mo	2.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.39	$28,594/yr	$24,209/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.42	$49,783/yr	$24,209/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $43.92 → $33.41, hedge $47,078/yr)
CC at SS income stress-adjusted	$10,697/yr	$47,078/yr	DEFICIT $3,032/mo
CC at MID income stress-adjusted	$10,697/yr	$47,078/yr	DEFICIT $3,032/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.42) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$3,032/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, 35d

Stock: $43.92 HP: 20.3% OTM Current hedge: $21,900/yr Baseline (roll-fwd, savings vs this): $27,189/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $73,457/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (55d) 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	98d	22.6%	$3.25	$-2.32	$-4,640	$24,209	$47,078	$2,980	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Dec 18	98d	24.9%	$2.85	$-1.92	$-3,840	$21,230	$46,556	$5,959	14	$4,000	8mo	1mo	1.88x	PASS
3	32	Dec 18	98d	27.1%	$2.58	$-1.65	$-3,300	$19,218	$42,832	$7,970	15	$6,000	9mo	1mo	1.94x	PASS
4	31	Dec 18	98d	29.4%	$2.32	$-1.39	$-2,780	$17,282	$39,107	$9,907	16	$8,000	10mo	1mo	2.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.39	$28,594/yr	$24,209/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.42	$49,783/yr	$24,209/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $43.92 → $33.41, hedge $47,078/yr)
CC at SS income stress-adjusted	$10,697/yr	$47,078/yr	DEFICIT $3,032/mo
CC at MID income stress-adjusted	$10,697/yr	$47,078/yr	DEFICIT $3,032/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.42) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$3,032/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

DELL: HP 150P Maintenance Roll-Out · exp Oct 16 '26, 35d

Stock: $557.54 Current HP: 150P (35d, 73.1% OTM) Current hedge: $4,224/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $1,093,066/yr Cost cap: 25% of CC = $273,267/yr IV: HIGH 68 qualifying ⚠ ER 2026-11-27 INTRADAY (77d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Dec 18 '26, 98d, 73.1% OTM) | Cost: $246/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $66 | Margin (TIMS): $37,654

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 70d, 30.0% OTM) | Cost: $12,592/yr (1% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,415 | Margin (TIMS): $20,136

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Dec 18	98d	73.1%	$0.05	$0.22	$246	0%	$89,400	=	D $66
2	195	Nov 20	70d	65.0%	$0.03	$0.18	$282	0%	$75,900	-$13,500	D $54
3	150	Nov 20	70d	73.1%	$0.04	$0.20	$313	0%	$89,400	=	D $60
4	185	Nov 20	70d	66.8%	$0.02	$0.29	$454	0%	$78,900	-$10,500	D $87
5	200	Dec 18	98d	64.1%	$0.20	$0.44	$492	0%	$74,400	-$15,000	D $132
6	200	Nov 20	70d	64.1%	$0.01	$0.51	$798	0%	$74,400	-$15,000	D $153
7	230	Nov 20	70d	58.7%	$0.16	$0.56	$876	0%	$65,400	-$24,000	D $168
8	220	Nov 20	70d	60.5%	$0.06	$0.64	$1,001	0%	$68,400	-$21,000	D $192
9	195	Dec 18	98d	65.0%	$0.03	$0.91	$1,017	0%	$75,900	-$13,500	D $273
10	210	Dec 18	98d	62.3%	$0.05	$1.07	$1,196	0%	$71,400	-$18,000	D $321
11	220	Dec 18	98d	60.5%	$0.60	$1.15	$1,285	0%	$68,400	-$21,000	D $345
12	240	Nov 20	70d	57.0%	$0.25	$0.89	$1,392	0%	$62,400	-$27,000	D $267
▶ 13	390 PROT	Nov 20	70d	30.0%	$6.85	$8.05	$12,592	1%	$17,400	-$72,000	D $2,415

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $550, B $48.55	$149,811/yr	$246/yr	SELF-FUNDING
CC at MID $630 0.7σ, B $19.55	$60,326/yr	$246/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($550, bid $48.55). 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).