Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$54,750/yr

TOTAL HEDGE (REPAIRED)

$51,484/yr

ANNUAL SAVINGS

$3,266/yr

ROLL CREDITS

-$9,120

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 $1,377,634
IREN (Joint) → +25C −47P +35P −55C	$43.07	25	47	35	55	$44.00	$50.94	12	1.75x	18.7%	SAFE	20	$32,000	$86,140	REPAIR SOON (32d)
GOOG (Joint) +310C −355C	$342.99	310	0	0	355	$392.50	$347.23	0	1.00x	0.0%	N/A	5	$41,250	$171,495	LEAPS-ONLY
IBIT +75C	$44.32	75	0	0	0	$70.58	$49.87	0	1.00x	0.0%	N/A	50	$22,328	$221,600	LEAPS-ONLY
MSTR (Joint) +180C −170C	$133.75	180	0	0	170	$233.00	$163.28	0	1.00x	0.0%	N/A	10	$53,000	$133,750	LEAPS-ONLY
AMZN +200C −250P +215P	$253.55	200	250	215	0	$267.92	$269.91	35	1.52x	15.2%	SAFE	5	$33,960	$126,775	OK
BMNR (Joint) +23C −18P +25P	$25.19	23	18	25	0	$36.42	$23.54	0	1.00x	0.8%	TIGHT	150	$201,300	$377,850	OK
COPX +65C −90P +68P	$84.66	65	90	68	0	$93.40	$96.57	22	1.77x	19.7%	SAFE	20	$56,800	$169,320	OK
MU (Joint) +670C −800P +420P −1100C	$907.04	670	800	420	1100	$792.36	$811.42	380	4.31x	53.7%	SAFE	1	$11,472	$90,704	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,439,381
IREN (Main) → +25C −47P +35P −55C	$43.07	25	47	35	55	$44.00	$50.94	12	1.75x	18.7%	SAFE	20	$32,000	$86,140	REPAIR SOON (32d)
IGV +70C −111C	$103.94	70	0	0	111	$96.50	$87.94	0	1.00x	0.0%	N/A	12	$31,800	$124,728	LEAPS-ONLY
MARA (Main) +13C	$11.60	13	0	0	0	$16.75	$10.86	0	1.00x	0.0%	N/A	400	$150,000	$464,000	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$25.19	25	18	45	0	$65.83	$57.67	0	1.00x	-78.6%	ITM	50	$204,150	$125,950	OK
BMNR (Main) +23C −18P +25P	$25.19	23	18	25	0	$53.26	$46.19	0	1.00x	0.8%	TIGHT	75	$226,950	$188,925	OK
COIN (Main) +165C −240P +90P −220C	$187.85	165	240	90	220	$210.90	$216.91	150	9.93x	52.1%	SAFE	8	$13,440	$150,280	OK
COIN (Main) +500C −330P +300P −220C	$187.85	500	330	300	220	$563.00	$356.38	30	1.48x	-59.7%	ITM	25	$157,500	$469,625	OK
ETHA +13C −16P +10P	$18.90	13	16	10	0	$17.33	$17.83	6	2.39x	47.1%	SAFE	50	$21,650	$94,500	OK
GLD +320C −450P +330P −470C	$392.13	320	450	330	470	$456.00	$470.13	120	1.88x	15.8%	SAFE	10	$136,000	$392,135	OK
GLXY +38C −38P +18P	$23.97	38	38	18	0	$39.71	$35.40	20	10.05x	27.0%	SAFE	125	$27,625	$299,625	OK
HIMS +10C −20P +5P	$28.49	10	20	5	0	$17.47	$19.40	15	4.04x	82.4%	SAFE	15	$7,395	$42,735	OK
META +480C −650P +330P −665C	$661.86	480	650	330	665	$601.50	$603.50	320	5.38x	50.1%	SAFE	3	$21,900	$198,558	OK
MU (Main) +880C −1010P +340P −1210C	$907.04	880	1010	340	1210	$1028.60	$1049.54	670	5.51x	62.5%	SAFE	5	$74,300	$453,520	OK
NOW +80C −110P +90P −140C	$137.99	80	110	90	140	$108.93	$113.71	20	1.72x	34.8%	SAFE	10	$27,850	$137,990	OK
NVDA +215C −225P +200P	$210.67	215	225	200	0	$264.80	$229.19	25	1.50x	5.1%	OK	10	$49,800	$210,670	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,107,670
DELL → +340C −390P +150P −550C	$531.37	340	390	150	550	$398.00	$404.04	240	5.14x	71.8%	SAFE	3	$17,400	$159,411	ROLL NOW (32d)
MARA (RetireInc) +40C	$11.60	40	0	0	0	$41.04	$11.12	0	1.00x	0.0%	N/A	500	$52,000	$580,000	LEAPS-ONLY
APP +460C −540P +185P	$325.36	460	540	185	0	$588.00	$609.96	355	3.77x	43.1%	SAFE	1	$12,800	$32,536	OK
CLSK +17C −17P +10P	$13.23	17	17	10	0	$20.74	$18.46	7	2.87x	24.4%	SAFE	25	$9,350	$33,088	OK
ENPH +45C −60P +20P	$36.44	45	60	20	0	$56.15	$59.05	40	6.48x	45.1%	SAFE	10	$7,300	$36,440	OK
IREN (RetireInc) +50C −70P +23P −55C	$43.07	50	70	23	55	$63.43	$66.78	47	7.86x	46.6%	SAFE	20	$13,700	$86,140	OK
MSTR (RetireInc) +125C −185P +55P −170C	$133.75	125	185	55	170	$161.00	$165.41	130	11.83x	58.9%	SAFE	4	$4,800	$53,500	OK
QCOM +190C −210P +100P −220C	$178.64	190	210	100	220	$224.00	$227.83	110	4.24x	44.0%	SAFE	5	$17,000	$89,320	OK
RKLB +115C −135P +45P	$62.06	115	135	45	0	$141.55	$148.84	90	4.39x	27.5%	SAFE	6	$15,930	$37,236	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,280,988
SPY +640C	$760.40	640	0	0	0	$764.00	$703.30	0	1.00x	0.0%	N/A	12	$148,800	$912,480	LEAPS-ONLY
AMD +420C −490P +350P −580C	$486.70	420	490	350	580	$489.91	$500.13	140	3.01x	28.1%	SAFE	2	$13,964	$97,340	OK
CRWV +105C −120P +40P −125C	$84.72	105	120	40	125	$125.45	$128.69	80	4.91x	52.8%	SAFE	5	$10,225	$42,360	OK
GOOG (Neville) +300C −345P +310P −355C	$342.99	300	345	310	355	$373.00	$345.88	35	1.48x	9.6%	OK	15	$109,500	$514,485	OK
GOOG (Neville) +340C −405P +360P −355C	$342.99	340	405	360	355	$398.00	$384.55	45	1.88x	-5.0%	ITM	5	$25,500	$171,495	OK
INTC +85C −100P +35P −116C	$96.82	85	100	35	116	$114.00	$116.27	65	3.24x	63.9%	SAFE	5	$14,500	$48,410	OK
IREN (Neville) +45C −65P +21P −55C	$43.07	45	65	21	55	$56.50	$58.24	44	15.67x	51.2%	SAFE	20	$6,000	$86,140	OK
MU (Neville) +970C −1110P +390P −1250C	$907.04	970	1110	390	1250	$1220.00	$1237.30	720	3.88x	57.0%	SAFE	2	$50,000	$181,408	OK
SNDK +1200C −1380P +810P −1950C	$1528.14	1200	1380	810	1950	$1620.00	$1637.55	570	2.36x	47.0%	SAFE	1	$42,000	$152,814	OK
SPCX +150C −195P +135P	$148.11	150	195	135	0	$186.00	$189.60	60	3.22x	8.9%	OK	5	$13,500	$74,055	OK

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 32d

Stock: $43.07 HP: 18.7% OTM Current hedge: $27,375/yr Baseline (roll-fwd, savings vs this): $28,816/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $78,393/yr IV: HIGH OTM floor: 8% Stress: 25% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (52d) 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	95d	21.1%	$3.35	$-2.28	$-4,560	$25,742	$45,491	$3,074	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Dec 18	95d	23.4%	$2.99	$-1.92	$-3,840	$22,976	$48,564	$5,840	14	$4,000	8mo	1mo	1.88x	PASS
3	32	Dec 18	95d	25.7%	$2.65	$-1.58	$-3,160	$20,363	$46,874	$8,453	15	$6,000	9mo	1mo	1.94x	PASS
4	31	Dec 18	95d	28.0%	$2.38	$-1.31	$-2,620	$18,288	$42,647	$10,527	16	$8,000	9mo	1mo	2.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.18	$26,550/yr	$25,742/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.04	$45,900/yr	$25,742/yr	SELF-FUNDING
AT 25% DRAWDOWN (stock $43.07 → $32.51, hedge $45,491/yr)
CC at SS income stress-adjusted	$15,750/yr	$45,491/yr	DEFICIT $2,478/mo
CC at MID income stress-adjusted	$15,750/yr	$45,491/yr	DEFICIT $2,478/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.04) in NORMAL markets. Self-funds today.
In 25% drawdown, even MID is short ~$2,478/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, 32d

Stock: $43.07 HP: 18.7% OTM Current hedge: $27,375/yr Baseline (roll-fwd, savings vs this): $28,816/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $78,393/yr IV: HIGH OTM floor: 8% Stress: 25% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (52d) 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	95d	21.1%	$3.35	$-2.28	$-4,560	$25,742	$45,491	$3,074	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Dec 18	95d	23.4%	$2.99	$-1.92	$-3,840	$22,976	$48,564	$5,840	14	$4,000	8mo	1mo	1.88x	PASS
3	32	Dec 18	95d	25.7%	$2.65	$-1.58	$-3,160	$20,363	$46,874	$8,453	15	$6,000	9mo	1mo	1.94x	PASS
4	31	Dec 18	95d	28.0%	$2.38	$-1.31	$-2,620	$18,288	$42,647	$10,527	16	$8,000	9mo	1mo	2.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.18	$26,550/yr	$25,742/yr	SELF-FUNDING
CC at MID $50 0.6σ, B $2.04	$45,900/yr	$25,742/yr	SELF-FUNDING
AT 25% DRAWDOWN (stock $43.07 → $32.51, hedge $45,491/yr)
CC at SS income stress-adjusted	$15,750/yr	$45,491/yr	DEFICIT $2,478/mo
CC at MID income stress-adjusted	$15,750/yr	$45,491/yr	DEFICIT $2,478/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $2.04) in NORMAL markets. Self-funds today.
In 25% drawdown, even MID is short ~$2,478/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

DELL: HP 150P Maintenance Roll-Out · exp Oct 16 '26, 32d

Stock: $531.37 Current HP: 150P (32d, 71.8% OTM) Current hedge: $7,323/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $682,721/yr Cost cap: 25% of CC = $170,680/yr IV: HIGH 60 qualifying ⚠ ER 2026-11-27 INTRADAY (74d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Dec 18 '26, 95d, 71.8% OTM) | Cost: $254/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $66 | Margin (TIMS): $30,717

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 67d, 26.6% OTM) | Cost: $14,791/yr (2% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,715 | Margin (TIMS): $13,739

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Dec 18	95d	71.8%	$0.10	$0.22	$254	0%	$89,400	=	D $66
2	195	Nov 20	67d	63.3%	$0.03	$0.16	$261	0%	$75,900	-$13,500	D $48
3	150	Nov 20	67d	71.8%	$0.01	$0.20	$327	0%	$89,400	=	D $60
4	200	Dec 18	95d	62.4%	$0.25	$0.44	$507	0%	$74,400	-$15,000	D $132
5	230	Nov 20	67d	56.7%	$0.16	$0.35	$572	0%	$65,400	-$24,000	D $105
6	195	Dec 18	95d	63.3%	$0.07	$0.67	$772	0%	$75,900	-$13,500	D $201
7	200	Nov 20	67d	62.4%	$0.01	$0.48	$784	0%	$74,400	-$15,000	D $144
8	250	Nov 20	67d	53.0%	$0.28	$0.60	$981	0%	$59,400	-$30,000	D $180
9	220	Nov 20	67d	58.6%	$0.18	$0.67	$1,095	0%	$68,400	-$21,000	D $201
10	270	Nov 20	67d	49.2%	$0.05	$0.79	$1,291	0%	$53,400	-$36,000	D $237
11	210	Dec 18	95d	60.5%	$0.05	$1.15	$1,326	0%	$71,400	-$18,000	D $345
12	220	Dec 18	95d	58.6%	$0.05	$1.37	$1,579	0%	$68,400	-$21,000	D $411
▶ 13	390 PROT	Nov 20	67d	26.6%	$7.75	$9.05	$14,791	2%	$17,400	-$72,000	D $2,715

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $530, B $39.85	$134,494/yr	$254/yr	SELF-FUNDING
CC at MID $600 0.7σ, B $16.60	$56,025/yr	$254/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($530, bid $39.85). 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).