Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$42,549/yr

TOTAL HEDGE (REPAIRED)

$42,459/yr

ANNUAL SAVINGS

$89/yr

ROLL CREDITS

-$7,640

ADDITIONAL MAX LOSS

$8,000

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 $1,386,607
IREN (Joint) → +25C −47P +35P −55C	$43.69	25	47	35	55	$44.00	$50.57	12	1.75x	19.9%	SAFE	20	$32,000	$87,380	REPAIR SOON (35d)
GOOG (Joint) +310C −355C	$335.44	310	0	0	355	$392.50	$347.59	0	1.00x	0.0%	N/A	5	$41,250	$167,720	LEAPS-ONLY
IBIT +75C	$43.80	75	0	0	0	$70.58	$49.84	0	1.00x	0.0%	N/A	50	$22,328	$219,000	LEAPS-ONLY
MSTR (Joint) +180C −170C	$131.53	180	0	0	170	$233.00	$161.82	0	1.00x	0.0%	N/A	10	$53,000	$131,530	LEAPS-ONLY
AMZN +200C −250P +215P	$256.97	200	250	215	0	$267.92	$270.35	35	1.52x	16.3%	SAFE	5	$33,960	$128,485	OK
BMNR (Joint) +23C −18P +25P	$25.21	23	18	25	0	$36.42	$23.47	0	1.00x	0.8%	TIGHT	150	$201,300	$378,150	OK
COPX +65C −90P +68P	$88.40	65	90	68	0	$93.40	$95.22	22	1.77x	23.1%	SAFE	20	$56,800	$176,800	OK
MU (Joint) +670C −800P +420P −1100C	$975.42	670	800	420	1100	$792.36	$808.93	380	4.31x	56.9%	SAFE	1	$11,472	$97,542	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,458,054
IREN (Main) → +25C −47P +35P −55C	$43.69	25	47	35	55	$44.00	$50.57	12	1.75x	19.9%	SAFE	20	$32,000	$87,380	REPAIR SOON (35d)
IGV +70C −111C	$101.70	70	0	0	111	$96.50	$87.61	0	1.00x	0.0%	N/A	12	$31,800	$122,040	LEAPS-ONLY
MARA (Main) +13C	$11.98	13	0	0	0	$16.75	$10.95	0	1.00x	0.0%	N/A	400	$150,000	$479,200	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$25.21	25	18	45	0	$65.83	$57.82	0	1.00x	-78.5%	ITM	50	$204,150	$126,050	OK
BMNR (Main) +23C −18P +25P	$25.21	23	18	25	0	$53.26	$46.15	0	1.00x	0.8%	TIGHT	75	$226,950	$189,075	OK
COIN (Main) +165C −240P +90P −220C	$175.41	165	240	90	220	$210.90	$216.43	150	9.93x	48.7%	SAFE	8	$13,440	$140,324	OK
COIN (Main) +500C −330P +300P −220C	$175.41	500	330	300	220	$563.00	$357.36	30	1.48x	-71.0%	ITM	25	$157,500	$438,512	OK
ETHA +13C −16P +10P	$19.18	13	16	10	0	$17.33	$17.61	6	2.39x	47.9%	SAFE	50	$21,650	$95,900	OK
GLD +320C −450P +330P −470C	$398.29	320	450	330	470	$456.00	$469.47	120	1.88x	17.1%	SAFE	10	$136,000	$398,290	OK
GLXY +38C −38P +18P	$24.55	38	38	18	0	$39.71	$34.44	20	10.05x	28.7%	SAFE	125	$27,625	$306,875	OK
HIMS +10C −20P +5P	$27.37	10	20	5	0	$17.47	$18.97	15	4.04x	81.7%	SAFE	15	$7,395	$41,055	OK
META +480C −650P +330P −665C	$647.24	480	650	330	665	$601.50	$604.60	320	5.38x	49.0%	SAFE	3	$21,900	$194,172	OK
MU (Main) +880C −1010P +340P −1210C	$975.42	880	1010	340	1210	$1028.60	$1050.21	670	5.51x	65.1%	SAFE	5	$74,300	$487,710	OK
NOW +80C −110P +90P −140C	$132.88	80	110	90	140	$108.93	$113.73	20	1.72x	32.3%	SAFE	10	$27,850	$132,880	OK
NVDA +215C −225P +200P	$218.59	215	225	200	0	$264.80	$228.87	25	1.50x	8.5%	OK	10	$49,800	$218,590	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,139,934
DELL → +340C −390P +150P −550C	$562.50	340	390	150	550	$398.00	$405.72	240	5.14x	73.3%	SAFE	3	$17,400	$168,750	ROLL NOW (35d)
MARA (RetireInc) +40C	$11.98	40	0	0	0	$41.04	$11.09	0	1.00x	0.0%	N/A	500	$52,000	$599,000	LEAPS-ONLY
APP +460C −540P +185P	$324.36	460	540	185	0	$588.00	$608.71	355	3.77x	43.0%	SAFE	1	$12,800	$32,436	OK
CLSK +17C −17P +10P	$13.71	17	17	10	0	$20.74	$18.10	7	2.87x	27.0%	SAFE	25	$9,350	$34,262	OK
ENPH +45C −60P +20P	$36.44	45	60	20	0	$56.15	$58.06	40	6.48x	45.1%	SAFE	10	$7,300	$36,440	OK
IREN (RetireInc) +50C −70P +23P −55C	$43.69	50	70	23	55	$63.43	$66.94	47	7.86x	47.4%	SAFE	20	$13,700	$87,380	OK
MSTR (RetireInc) +125C −185P +55P −170C	$131.53	125	185	55	170	$161.00	$165.70	130	11.83x	58.2%	SAFE	4	$4,800	$52,612	OK
QCOM +190C −210P +100P −220C	$182.16	190	210	100	220	$224.00	$226.41	110	4.24x	45.1%	SAFE	5	$17,000	$91,080	OK
RKLB +115C −135P +45P	$63.29	115	135	45	0	$141.55	$148.93	90	4.39x	28.9%	SAFE	6	$15,930	$37,974	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,308,973
SPY +640C	$764.53	640	0	0	0	$764.00	$703.36	0	1.00x	0.0%	N/A	12	$148,800	$917,436	LEAPS-ONLY
AMD +420C −490P +350P −580C	$515.59	420	490	350	580	$489.91	$499.95	140	3.01x	32.1%	SAFE	2	$13,964	$103,118	OK
CRWV +105C −120P +40P −125C	$89.03	105	120	40	125	$125.45	$128.72	80	4.91x	55.1%	SAFE	5	$10,225	$44,515	OK
GOOG (Neville) +300C −345P +310P −355C	$335.44	300	345	310	355	$373.00	$345.43	35	1.48x	7.6%	OK	15	$109,500	$503,160	OK
GOOG (Neville) +340C −405P +360P −355C	$335.44	340	405	360	355	$398.00	$384.76	45	1.88x	-7.3%	ITM	5	$25,500	$167,720	OK
INTC +85C −100P +35P −116C	$103.07	85	100	35	116	$114.00	$116.03	65	3.24x	66.0%	SAFE	5	$14,500	$51,535	OK
IREN (Neville) +45C −65P +21P −55C	$43.69	45	65	21	55	$56.50	$57.93	44	15.67x	51.9%	SAFE	20	$6,000	$87,380	OK
MU (Neville) +970C −1110P +390P −1250C	$975.42	970	1110	390	1250	$1220.00	$1237.07	720	3.88x	60.0%	SAFE	2	$50,000	$195,084	OK
SNDK +1200C −1380P +810P −1950C	$1635.75	1200	1380	810	1950	$1620.00	$1636.75	570	2.36x	50.5%	SAFE	1	$42,000	$163,575	OK
SPCX +150C −195P +135P	$150.90	150	195	135	0	$186.00	$189.31	60	3.22x	10.5%	SAFE	5	$13,500	$75,450	OK

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

Stock: $43.69 HP: 19.9% OTM Current hedge: $21,274/yr Baseline (roll-fwd, savings vs this): $26,444/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $75,150/yr IV: HIGH OTM floor: 8% Stress: 23% DD Payback gate: 12mo (1.0yr) 3 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	33	Dec 18	98d	24.5%	$2.85	$-1.91	$-3,820	$21,230	$48,046	$5,214	14	$4,000	9mo	1mo	1.88x	PASS
2	31	Dec 18	98d	29.0%	$2.36	$-1.42	$-2,840	$17,580	$36,500	$8,864	16	$8,000	11mo	1mo	2.00x	PASS
3	32	Dec 18	98d	26.8%	$2.66	$-1.72	$-3,440	$19,814	$43,204	$6,630	15	$6,000	11mo	1mo	1.94x	PASS
4	34	Dec 18	98d	22.2%	$3.35	$-2.41	$-4,820	$24,954	$49,834	$1,490	13	$2,000	16mo	0mo	1.81x	FAIL

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.24	$25,509/yr	$21,230/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.24	$46,080/yr	$21,230/yr	SELF-FUNDING
AT 23% DRAWDOWN (stock $43.69 → $33.44, hedge $48,046/yr)
CC at SS income stress-adjusted	$9,874/yr	$48,046/yr	DEFICIT $3,181/mo
CC at MID income stress-adjusted	$9,874/yr	$48,046/yr	DEFICIT $3,181/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.24) in NORMAL markets. Self-funds today.
In 23% drawdown, even MID is short ~$3,181/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: $43.69 HP: 19.9% OTM Current hedge: $21,274/yr Baseline (roll-fwd, savings vs this): $26,444/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $75,150/yr IV: HIGH OTM floor: 8% Stress: 23% DD Payback gate: 12mo (1.0yr) 3 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	33	Dec 18	98d	24.5%	$2.85	$-1.91	$-3,820	$21,230	$48,046	$5,214	14	$4,000	9mo	1mo	1.88x	PASS
2	31	Dec 18	98d	29.0%	$2.36	$-1.42	$-2,840	$17,580	$36,500	$8,864	16	$8,000	11mo	1mo	2.00x	PASS
3	32	Dec 18	98d	26.8%	$2.66	$-1.72	$-3,440	$19,814	$43,204	$6,630	15	$6,000	11mo	1mo	1.94x	PASS
4	34	Dec 18	98d	22.2%	$3.35	$-2.41	$-4,820	$24,954	$49,834	$1,490	13	$2,000	16mo	0mo	1.81x	FAIL

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.24	$25,509/yr	$21,230/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.24	$46,080/yr	$21,230/yr	SELF-FUNDING
AT 23% DRAWDOWN (stock $43.69 → $33.44, hedge $48,046/yr)
CC at SS income stress-adjusted	$9,874/yr	$48,046/yr	DEFICIT $3,181/mo
CC at MID income stress-adjusted	$9,874/yr	$48,046/yr	DEFICIT $3,181/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.24) in NORMAL markets. Self-funds today.
In 23% drawdown, even MID is short ~$3,181/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: $562.50 Current HP: 150P (35d, 73.3% OTM) Current hedge: $2,878/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $1,123,827/yr Cost cap: 25% of CC = $280,957/yr IV: HIGH 72 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Nov 20 '26, 70d, 73.3% OTM) | Cost: $141/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $27 | Margin (TIMS): $38,118

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 70d, 30.7% OTM) | Cost: $11,263/yr (1% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,160 | Margin (TIMS): $20,427

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Nov 20	70d	73.3%	$0.03	$0.09	$141	0%	$89,400	=	D $27
2	150	Dec 18	98d	73.3%	$0.05	$0.13	$145	0%	$89,400	=	D $39
3	190	Nov 20	70d	66.2%	$0.01	$0.15	$235	0%	$77,400	-$12,000	D $45
4	195	Nov 20	70d	65.3%	$0.03	$0.15	$235	0%	$75,900	-$13,500	D $45
5	165	Dec 18	98d	70.7%	$0.12	$0.25	$279	0%	$84,900	-$4,500	D $75
6	185	Dec 18	98d	67.1%	$0.16	$0.27	$302	0%	$78,900	-$10,500	D $81
7	220	Nov 20	70d	60.9%	$0.06	$0.23	$360	0%	$68,400	-$21,000	D $69
8	185	Nov 20	70d	67.1%	$0.02	$0.24	$375	0%	$78,900	-$10,500	D $72
9	200	Nov 20	70d	64.4%	$0.02	$0.28	$438	0%	$74,400	-$15,000	D $84
10	230	Nov 20	70d	59.1%	$0.16	$0.31	$485	0%	$65,400	-$24,000	D $93
11	200	Dec 18	98d	64.4%	$0.30	$0.44	$492	0%	$74,400	-$15,000	D $132
12	240	Nov 20	70d	57.3%	$0.20	$0.38	$594	0%	$62,400	-$27,000	D $114
▶ 13	390 PROT	Nov 20	70d	30.7%	$6.25	$7.20	$11,263	1%	$17,400	-$72,000	D $2,160

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $560, B $44.30	$136,697/yr	$141/yr	SELF-FUNDING
CC at MID $630 0.6σ, B $18.75	$57,857/yr	$141/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($560, bid $44.30). 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).