Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$63,110/yr

TOTAL HEDGE (REPAIRED)

$55,915/yr

ANNUAL SAVINGS

$7,195/yr

ROLL CREDITS

-$9,240

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 $1,336,035
IREN (Joint) → +25C −47P +35P −55C	$41.26	25	47	35	55	$44.00	$50.63	12	1.75x	15.2%	SAFE	20	$32,000	$82,520	REPAIR SOON (31d)
GOOG (Joint) +310C −355C	$341.15	310	0	0	355	$392.50	$348.34	0	1.00x	0.0%	N/A	5	$41,250	$170,575	LEAPS-ONLY
IBIT +75C	$42.96	75	0	0	0	$70.58	$50.15	0	1.00x	0.0%	N/A	50	$22,328	$214,800	LEAPS-ONLY
MSTR (Joint) +180C −170C	$129.09	180	0	0	170	$233.00	$163.26	0	1.00x	0.0%	N/A	10	$53,000	$129,090	LEAPS-ONLY
AMZN +200C −250P +215P	$247.59	200	250	215	0	$267.92	$270.37	35	1.52x	13.2%	SAFE	5	$33,960	$123,795	OK
BMNR (Joint) +23C −18P +25P	$23.57	23	18	25	0	$36.42	$23.28	0	1.00x	-6.1%	ITM	150	$201,300	$353,550	OK
COPX +65C −90P +68P	$84.59	65	90	68	0	$93.40	$95.80	22	1.77x	19.6%	SAFE	20	$56,800	$169,180	OK
MU (Joint) +670C −800P +420P −1250C	$925.25	670	800	420	1250	$792.36	$808.79	380	4.31x	54.6%	SAFE	1	$11,472	$92,525	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,335,908
IREN (Main) → +25C −47P +35P −55C	$41.26	25	47	35	55	$44.00	$50.63	12	1.75x	15.2%	SAFE	20	$32,000	$82,520	REPAIR SOON (31d)
IGV +70C −111C	$105.54	70	0	0	111	$96.50	$88.18	0	1.00x	0.0%	N/A	12	$31,800	$126,648	LEAPS-ONLY
MARA (Main) +13C	$11.14	13	0	0	0	$16.75	$10.93	0	1.00x	0.0%	N/A	400	$150,000	$445,600	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$23.57	25	18	45	0	$65.83	$57.74	0	1.00x	-90.9%	ITM	50	$204,150	$117,850	OK
BMNR (Main) +23C −18P +25P	$23.57	23	18	25	0	$53.26	$46.01	0	1.00x	-6.1%	ITM	75	$226,950	$176,775	OK
COIN (Main) +165C −240P +90P −220C	$171.81	165	240	90	220	$210.90	$216.58	150	9.93x	47.6%	SAFE	8	$13,440	$137,448	OK
COIN (Main) +500C −330P +300P −220C	$171.81	500	330	300	220	$563.00	$356.38	30	1.48x	-74.6%	ITM	25	$157,500	$429,525	OK
ETHA +13C −16P +10P	$18.14	13	16	10	0	$17.33	$17.85	6	2.39x	44.9%	SAFE	50	$21,650	$90,700	OK
GLD +320C −450P +330P −470C	$394.16	320	450	330	470	$456.00	$470.01	120	1.88x	16.3%	SAFE	10	$136,000	$394,160	OK
GLXY +38C −38P +18P	$21.98	38	38	18	0	$39.71	$33.92	20	10.05x	20.4%	SAFE	125	$27,625	$274,750	OK
HIMS +10C −20P +5P	$28.00	10	20	5	0	$17.47	$19.02	15	4.04x	82.1%	SAFE	15	$7,395	$42,000	OK
META +480C −650P +330P −665C	$671.04	480	650	330	665	$601.50	$603.31	320	5.38x	50.8%	SAFE	3	$21,900	$201,312	OK
MU (Main) +880C −1010P +340P −1210C	$925.25	880	1010	340	1210	$1028.60	$1048.08	670	5.51x	63.3%	SAFE	5	$74,300	$462,625	OK
NOW +80C −110P +90P −140C	$142.06	80	110	90	140	$108.93	$113.36	20	1.72x	36.6%	SAFE	10	$27,850	$142,060	OK
NVDA +215C −225P +200P	$211.94	215	225	200	0	$264.80	$229.74	25	1.50x	5.6%	OK	10	$49,800	$211,935	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,086,953
DELL → +340C −390P +150P −550C	$542.48	340	390	150	550	$398.00	$405.97	240	5.14x	72.3%	SAFE	3	$17,400	$162,744	ROLL NOW (31d)
MARA (RetireInc) +40C	$11.14	40	0	0	0	$41.04	$10.92	0	1.00x	0.0%	N/A	500	$52,000	$557,000	LEAPS-ONLY
APP +460C −540P +185P	$330.19	460	540	185	0	$588.00	$606.36	355	3.77x	44.0%	SAFE	1	$12,800	$33,019	OK
CLSK +17C −17P +10P	$12.63	17	17	10	0	$20.74	$18.05	7	2.87x	20.8%	SAFE	25	$9,350	$31,575	OK
ENPH +45C −60P +20P	$36.66	45	60	20	0	$56.15	$58.55	40	6.48x	45.4%	SAFE	10	$7,300	$36,660	OK
IREN (RetireInc) +50C −70P +23P −55C	$41.26	50	70	23	55	$63.43	$66.65	47	7.86x	44.3%	SAFE	20	$13,700	$82,520	OK
MSTR (RetireInc) +125C −185P +55P −170C	$129.09	125	185	55	170	$161.00	$164.23	130	11.83x	57.4%	SAFE	4	$4,800	$51,636	OK
QCOM +190C −210P +100P −220C	$187.23	190	210	100	220	$224.00	$226.98	110	4.24x	46.6%	SAFE	5	$17,000	$93,615	OK
RKLB +115C −135P +45P	$63.64	115	135	45	0	$141.55	$148.69	90	4.39x	29.3%	SAFE	6	$15,930	$38,184	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,272,715
SPY +640C	$756.71	640	0	0	0	$764.00	$704.56	0	1.00x	0.0%	N/A	12	$148,800	$908,052	LEAPS-ONLY
AMD +420C −490P +350P −580C	$504.19	420	490	350	580	$489.91	$499.52	140	3.01x	30.6%	SAFE	2	$13,964	$100,838	OK
CRWV +105C −120P +40P −125C	$80.95	105	120	40	125	$125.45	$128.50	80	4.91x	50.6%	SAFE	5	$10,225	$40,475	OK
GOOG (Neville) +300C −345P +310P −355C	$341.15	300	345	310	355	$373.00	$345.16	35	1.48x	9.1%	OK	15	$109,500	$511,725	OK
GOOG (Neville) +340C −405P +360P −355C	$341.15	340	405	360	355	$398.00	$384.72	45	1.88x	-5.5%	ITM	5	$25,500	$170,575	OK
INTC +85C −100P +35P −116C	$97.17	85	100	35	116	$114.00	$115.89	65	3.24x	64.0%	SAFE	5	$14,500	$48,585	OK
IREN (Neville) +45C −65P +21P −55C	$41.26	45	65	21	55	$56.50	$58.32	44	15.67x	49.1%	SAFE	20	$6,000	$82,520	OK
MU (Neville) +970C −1110P +390P −1250C	$925.25	970	1110	390	1250	$1220.00	$1237.69	720	3.88x	57.8%	SAFE	2	$50,000	$185,050	OK
SNDK +1200C −1380P +810P −1950C	$1530.55	1200	1380	810	1950	$1620.00	$1635.82	570	2.36x	47.1%	SAFE	1	$42,000	$153,055	OK
SPCX +150C −195P +135P	$143.68	150	195	135	0	$186.00	$189.54	60	3.22x	6.0%	OK	5	$13,500	$71,840	OK

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

Stock: $41.26 HP: 15.2% OTM Current hedge: $31,555/yr Baseline (roll-fwd, savings vs this): $31,840/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $75,967/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	34	Dec 18	94d	17.6%	$3.60	$-2.31	$-4,620	$27,957	$37,354	$3,883	13	$2,000	6mo	0mo	1.81x	PASS
2	33	Dec 18	94d	20.0%	$3.25	$-1.96	$-3,920	$25,239	$44,344	$6,601	14	$4,000	7mo	1mo	1.88x	PASS
3	32	Dec 18	94d	22.4%	$2.86	$-1.57	$-3,140	$22,211	$45,509	$9,630	15	$6,000	7mo	1mo	1.94x	PASS
4	31	Dec 18	94d	24.9%	$2.52	$-1.23	$-2,460	$19,570	$48,926	$12,270	16	$8,000	8mo	1mo	2.00x	PASS
5	30	Dec 18	94d	27.3%	$2.19	$-0.90	$-1,800	$17,007	$38,830	$14,833	17	$10,000	8mo	1mo	2.06x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $0.76	$17,652/yr	$27,957/yr	DEFICIT $859/mo
CC at MID $48 0.7σ, B $1.71	$39,716/yr	$27,957/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $41.26 → $31.51, hedge $37,354/yr)
CC at SS income stress-adjusted	$10,684/yr	$37,354/yr	DEFICIT $2,223/mo
CC at MID income stress-adjusted	$10,684/yr	$37,354/yr	DEFICIT $2,223/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($48, bid $1.71) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$2,223/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: $41.26 HP: 15.2% OTM Current hedge: $31,555/yr Baseline (roll-fwd, savings vs this): $31,840/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $75,967/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	34	Dec 18	94d	17.6%	$3.60	$-2.31	$-4,620	$27,957	$37,354	$3,883	13	$2,000	6mo	0mo	1.81x	PASS
2	33	Dec 18	94d	20.0%	$3.25	$-1.96	$-3,920	$25,239	$44,344	$6,601	14	$4,000	7mo	1mo	1.88x	PASS
3	32	Dec 18	94d	22.4%	$2.86	$-1.57	$-3,140	$22,211	$45,509	$9,630	15	$6,000	7mo	1mo	1.94x	PASS
4	31	Dec 18	94d	24.9%	$2.52	$-1.23	$-2,460	$19,570	$48,926	$12,270	16	$8,000	8mo	1mo	2.00x	PASS
5	30	Dec 18	94d	27.3%	$2.19	$-0.90	$-1,800	$17,007	$38,830	$14,833	17	$10,000	8mo	1mo	2.06x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $0.76	$17,652/yr	$27,957/yr	DEFICIT $859/mo
CC at MID $48 0.7σ, B $1.71	$39,716/yr	$27,957/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $41.26 → $31.51, hedge $37,354/yr)
CC at SS income stress-adjusted	$10,684/yr	$37,354/yr	DEFICIT $2,223/mo
CC at MID income stress-adjusted	$10,684/yr	$37,354/yr	DEFICIT $2,223/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($48, bid $1.71) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$2,223/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: $542.48 Current HP: 150P (31d, 72.3% OTM) Current hedge: $177/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $767,546/yr Cost cap: 25% of CC = $191,887/yr IV: HIGH 69 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 150P (Nov 20 '26, 66d, 72.3% OTM) | Cost: $83/yr (0% of CC) | New ML: $89,400 = ML | Roll DEBIT $15 | Margin (TIMS): $31,488

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 66d, 28.1% OTM) | Cost: $12,609/yr (2% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $2,280 | Margin (TIMS): $14,117

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	150 CHEAP	Nov 20	66d	72.3%	$0.01	$0.05	$83	0%	$89,400	=	D $15
2	155	Dec 18	94d	71.4%	$0.02	$0.20	$233	0%	$87,900	-$1,500	D $60
3	170	Nov 20	66d	68.7%	$0.02	$0.15	$249	0%	$83,400	-$6,000	D $45
4	150	Dec 18	94d	72.3%	$0.05	$0.22	$256	0%	$89,400	=	D $66
5	175	Nov 20	66d	67.7%	$0.02	$0.16	$265	0%	$81,900	-$7,500	D $48
6	185	Nov 20	66d	65.9%	$0.02	$0.18	$299	0%	$78,900	-$10,500	D $54
7	195	Nov 20	66d	64.1%	$0.03	$0.19	$315	0%	$75,900	-$13,500	D $57
8	200	Nov 20	66d	63.1%	$0.01	$0.22	$365	0%	$74,400	-$15,000	D $66
9	185	Dec 18	94d	65.9%	$0.20	$0.32	$373	0%	$78,900	-$10,500	D $96
10	220	Nov 20	66d	59.4%	$0.06	$0.23	$382	0%	$68,400	-$21,000	D $69
11	200	Dec 18	94d	63.1%	$0.20	$0.44	$513	0%	$74,400	-$15,000	D $132
12	230	Nov 20	66d	57.6%	$0.16	$0.31	$514	0%	$65,400	-$24,000	D $93
▶ 13	390 PROT	Nov 20	66d	28.1%	$6.50	$7.60	$12,609	2%	$17,400	-$72,000	D $2,280

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $540, B $40.95	$142,665/yr	$83/yr	SELF-FUNDING
CC at MID $610 0.7σ, B $16.60	$57,832/yr	$83/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($540, bid $40.95). 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).