Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$53,219/yr

TOTAL HEDGE (REPAIRED)

$41,626/yr

ANNUAL SAVINGS

$11,594/yr

ROLL CREDITS

-$6,400

ADDITIONAL MAX LOSS

$12,000

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 $1,352,893
IREN (Joint) → +25C −47P +35P −55C	$42.34	25	47	35	55	$44.00	$50.60	12	1.75x	17.3%	SAFE	20	$32,000	$84,680	REPAIR SOON (31d)
GOOG (Joint) +310C −355C	$342.26	310	0	0	355	$392.50	$348.41	0	1.00x	0.0%	N/A	5	$41,250	$171,130	LEAPS-ONLY
IBIT +75C	$43.08	75	0	0	0	$70.58	$49.71	0	1.00x	0.0%	N/A	50	$22,328	$215,400	LEAPS-ONLY
MSTR (Joint) +180C −170C	$130.17	180	0	0	170	$233.00	$162.52	0	1.00x	0.0%	N/A	10	$53,000	$130,170	LEAPS-ONLY
AMZN +200C −250P +215P	$252.59	200	250	215	0	$267.92	$270.30	35	1.52x	14.9%	SAFE	5	$33,960	$126,295	OK
BMNR (Joint) +23C −18P +25P	$24.12	23	18	25	0	$36.42	$23.30	0	1.00x	-3.6%	ITM	150	$201,300	$361,800	OK
COPX +65C −90P +68P	$84.97	65	90	68	0	$93.40	$96.26	22	1.77x	20.0%	SAFE	20	$56,800	$169,940	OK
MU (Joint) +670C −800P +420P −1250C	$934.78	670	800	420	1250	$792.36	$809.50	380	4.31x	55.1%	SAFE	1	$11,472	$93,478	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,392,528
IREN (Main) → +25C −47P +35P −55C	$42.34	25	47	35	55	$44.00	$50.60	12	1.75x	17.3%	SAFE	20	$32,000	$84,680	REPAIR SOON (31d)
IGV +70C −111C	$105.49	70	0	0	111	$96.50	$87.84	0	1.00x	0.0%	N/A	12	$31,800	$126,588	LEAPS-ONLY
MARA (Main) +13C	$11.26	13	0	0	0	$16.75	$10.78	0	1.00x	0.0%	N/A	400	$150,000	$450,400	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$24.12	25	18	45	0	$65.83	$57.97	0	1.00x	-86.6%	ITM	50	$204,150	$120,600	OK
BMNR (Main) +23C −18P +25P	$24.12	23	18	25	0	$53.26	$46.02	0	1.00x	-3.6%	ITM	75	$226,950	$180,900	OK
COIN (Main) +165C −240P +90P −220C	$179.42	165	240	90	220	$210.90	$214.06	150	9.93x	49.8%	SAFE	8	$13,440	$143,536	OK
COIN (Main) +500C −330P +300P −220C	$179.42	500	330	300	220	$563.00	$354.16	30	1.48x	-67.2%	ITM	25	$157,500	$448,550	OK
ETHA +13C −16P +10P	$18.41	13	16	10	0	$17.33	$17.60	6	2.39x	45.7%	SAFE	50	$21,650	$92,050	OK
GLD +320C −450P +330P −470C	$393.80	320	450	330	470	$456.00	$470.69	120	1.88x	16.2%	SAFE	10	$136,000	$393,800	OK
GLXY +38C −38P +18P	$22.82	38	38	18	0	$39.71	$34.67	20	10.05x	23.3%	SAFE	125	$27,625	$285,250	OK
HIMS +10C −20P +5P	$28.92	10	20	5	0	$17.47	$18.96	15	4.04x	82.7%	SAFE	15	$7,395	$43,380	OK
META +480C −650P +330P −665C	$669.68	480	650	330	665	$601.50	$602.24	320	5.38x	50.7%	SAFE	3	$21,900	$200,904	OK
MU (Main) +880C −1010P +340P −1210C	$934.78	880	1010	340	1210	$1028.60	$1047.23	670	5.51x	63.6%	SAFE	5	$74,300	$467,390	OK
NOW +80C −110P +90P −140C	$141.04	80	110	90	140	$108.93	$113.36	20	1.72x	36.2%	SAFE	10	$27,850	$141,040	OK
NVDA +215C −225P +200P	$213.46	215	225	200	0	$264.80	$229.68	25	1.50x	6.3%	OK	10	$49,800	$213,460	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,103,728
DELL → +340C −390P +150P −550C	$564.63	340	390	150	550	$398.00	$405.77	240	5.14x	73.4%	SAFE	3	$17,400	$169,389	ROLL NOW (31d)
MARA (RetireInc) +40C	$11.26	40	0	0	0	$41.04	$10.94	0	1.00x	0.0%	N/A	500	$52,000	$563,000	LEAPS-ONLY
APP +460C −540P +185P	$331.54	460	540	185	0	$588.00	$606.72	355	3.77x	44.2%	SAFE	1	$12,800	$33,154	OK
CLSK +17C −17P +10P	$12.95	17	17	10	0	$20.74	$18.18	7	2.87x	22.8%	SAFE	25	$9,350	$32,375	OK
ENPH +45C −60P +20P	$36.32	45	60	20	0	$56.15	$57.15	40	6.48x	44.9%	SAFE	10	$7,300	$36,320	OK
IREN (RetireInc) +50C −70P +23P −55C	$42.34	50	70	23	55	$63.43	$66.62	47	7.86x	45.7%	SAFE	20	$13,700	$84,680	OK
MSTR (RetireInc) +125C −185P +55P −170C	$130.17	125	185	55	170	$161.00	$164.60	130	11.83x	57.7%	SAFE	4	$4,800	$52,068	OK
QCOM +190C −210P +100P −220C	$188.60	190	210	100	220	$224.00	$228.38	110	4.24x	47.0%	SAFE	5	$17,000	$94,300	OK
RKLB +115C −135P +45P	$64.07	115	135	45	0	$141.55	$148.30	90	4.39x	29.8%	SAFE	6	$15,930	$38,442	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,289,304
SPY +640C	$759.55	640	0	0	0	$764.00	$704.86	0	1.00x	0.0%	N/A	12	$148,800	$911,460	LEAPS-ONLY
AMD +420C −490P +350P −580C	$509.87	420	490	350	580	$489.91	$501.09	140	3.01x	31.4%	SAFE	2	$13,964	$101,974	OK
CRWV +105C −120P +40P −125C	$83.44	105	120	40	125	$125.45	$128.70	80	4.91x	52.1%	SAFE	5	$10,225	$41,720	OK
GOOG (Neville) +300C −345P +310P −355C	$342.26	300	345	310	355	$373.00	$344.67	35	1.48x	9.4%	OK	15	$109,500	$513,390	OK
GOOG (Neville) +340C −405P +360P −355C	$342.26	340	405	360	355	$398.00	$382.73	45	1.88x	-5.2%	ITM	5	$25,500	$171,130	OK
INTC +85C −100P +35P −116C	$99.97	85	100	35	116	$114.00	$116.25	65	3.24x	65.0%	SAFE	5	$14,500	$49,988	OK
IREN (Neville) +45C −65P +21P −55C	$42.34	45	65	21	55	$56.50	$58.21	44	15.67x	50.4%	SAFE	20	$6,000	$84,680	OK
MU (Neville) +970C −1110P +390P −1250C	$934.78	970	1110	390	1250	$1220.00	$1235.56	720	3.88x	58.3%	SAFE	2	$50,000	$186,956	OK
SNDK +1200C −1380P +810P −1950C	$1555.67	1200	1380	810	1950	$1620.00	$1636.57	570	2.36x	47.9%	SAFE	1	$42,000	$155,567	OK
SPCX +150C −195P +135P	$144.88	150	195	135	0	$186.00	$189.57	60	3.22x	6.8%	OK	5	$13,500	$72,440	OK

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 31d

Stock: $42.34 HP: 17.3% OTM Current hedge: $26,610/yr Baseline (roll-fwd, savings vs this): $29,122/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $82,111/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-11-05 INTRADAY (51d) 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	94d	24.4%	$2.68	$-1.60	$-3,200	$20,813	$48,149	$8,310	15	$6,000	9mo	1mo	1.94x	PASS
2	33	Dec 18	94d	22.1%	$3.05	$-1.97	$-3,940	$23,686	$47,295	$5,436	14	$4,000	9mo	1mo	1.88x	PASS
3	34	Dec 18	94d	19.7%	$3.40	$-2.32	$-4,640	$26,404	$41,470	$2,718	13	$2,000	9mo	0mo	1.81x	PASS
4	31	Dec 18	94d	26.8%	$2.38	$-1.30	$-2,600	$18,483	$43,878	$10,639	16	$8,000	9mo	1mo	2.00x	PASS
5	30	Dec 18	94d	29.1%	$2.04	$-0.96	$-1,920	$15,843	$35,335	$13,280	17	$10,000	9mo	1mo	2.06x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $0.95	$22,065/yr	$20,813/yr	SELF-FUNDING
CC at MID $49 0.7σ, B $1.85	$42,968/yr	$20,813/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $42.34 → $32.22, hedge $48,149/yr)
CC at SS income stress-adjusted	$12,774/yr	$48,149/yr	DEFICIT $2,948/mo
CC at MID income stress-adjusted	$12,774/yr	$48,149/yr	DEFICIT $2,948/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($49, bid $1.85) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$2,948/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, 31d

Stock: $42.34 HP: 17.3% OTM Current hedge: $26,610/yr Baseline (roll-fwd, savings vs this): $29,122/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $82,111/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-11-05 INTRADAY (51d) 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	94d	24.4%	$2.68	$-1.60	$-3,200	$20,813	$48,149	$8,310	15	$6,000	9mo	1mo	1.94x	PASS
2	33	Dec 18	94d	22.1%	$3.05	$-1.97	$-3,940	$23,686	$47,295	$5,436	14	$4,000	9mo	1mo	1.88x	PASS
3	34	Dec 18	94d	19.7%	$3.40	$-2.32	$-4,640	$26,404	$41,470	$2,718	13	$2,000	9mo	0mo	1.81x	PASS
4	31	Dec 18	94d	26.8%	$2.38	$-1.30	$-2,600	$18,483	$43,878	$10,639	16	$8,000	9mo	1mo	2.00x	PASS
5	30	Dec 18	94d	29.1%	$2.04	$-0.96	$-1,920	$15,843	$35,335	$13,280	17	$10,000	9mo	1mo	2.06x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $0.95	$22,065/yr	$20,813/yr	SELF-FUNDING
CC at MID $49 0.7σ, B $1.85	$42,968/yr	$20,813/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $42.34 → $32.22, hedge $48,149/yr)
CC at SS income stress-adjusted	$12,774/yr	$48,149/yr	DEFICIT $2,948/mo
CC at MID income stress-adjusted	$12,774/yr	$48,149/yr	DEFICIT $2,948/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($49, bid $1.85) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$2,948/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

DELL: HP 150P Maintenance Roll-Out · exp Oct 16 '26, 31d

Stock: $564.63 Current HP: 150P (31d, 73.4% OTM) Current hedge: $3,250/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $892,980/yr Cost cap: 25% of CC = $223,245/yr IV: HIGH 69 qualifying ⚠ ER 2026-11-27 INTRADAY (73d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Dec 18 '26, 94d, 73.4% OTM) | Cost: $256/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $66 | Margin (TIMS): $37,776

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 66d, 30.9% OTM) | Cost: $11,780/yr (1% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,130 | Margin (TIMS): $20,463

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Dec 18	94d	73.4%	$0.11	$0.22	$256	0%	$89,400	=	D $66
2	185	Nov 20	66d	67.2%	$0.02	$0.18	$299	0%	$78,900	-$10,500	D $54
3	195	Nov 20	66d	65.5%	$0.03	$0.19	$315	0%	$75,900	-$13,500	D $57
4	150	Nov 20	66d	73.4%	$0.01	$0.20	$332	0%	$89,400	=	D $60
5	165	Dec 18	94d	70.8%	$0.16	$0.30	$349	0%	$84,900	-$4,500	D $90
6	200	Dec 18	94d	64.6%	$0.20	$0.44	$513	0%	$74,400	-$15,000	D $132
7	230	Nov 20	66d	59.3%	$0.16	$0.31	$514	0%	$65,400	-$24,000	D $93
8	185	Dec 18	94d	67.2%	$0.20	$0.56	$652	0%	$78,900	-$10,500	D $168
9	195	Dec 18	94d	65.5%	$0.27	$0.60	$699	0%	$75,900	-$13,500	D $180
10	220	Nov 20	66d	61.0%	$0.06	$0.47	$780	0%	$68,400	-$21,000	D $141
11	200	Nov 20	66d	64.6%	$0.01	$0.58	$962	0%	$74,400	-$15,000	D $174
12	210	Dec 18	94d	62.8%	$0.06	$0.91	$1,060	0%	$71,400	-$18,000	D $273
▶ 13	390 PROT	Nov 20	66d	30.9%	$5.80	$7.10	$11,780	1%	$17,400	-$72,000	D $2,130

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (31d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $560, B $44.60	$155,381/yr	$256/yr	SELF-FUNDING
CC at MID $630 0.6σ, B $19.25	$67,065/yr	$256/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($560, bid $44.60). 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).