Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$52,560/yr

TOTAL HEDGE (REPAIRED)

$45,841/yr

ANNUAL SAVINGS

$6,719/yr

ROLL CREDITS

-$7,840

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 $1,337,271
IREN (Joint) → +25C −47P +35P −55C	$43.17	25	47	35	55	$44.00	$50.91	12	1.75x	18.9%	SAFE	20	$32,000	$86,340	REPAIR SOON (30d)
GOOG (Joint) +310C −355C	$343.04	310	0	0	355	$392.50	$349.48	0	1.00x	0.0%	N/A	5	$41,250	$171,520	LEAPS-ONLY
IBIT +75C	$42.81	75	0	0	0	$70.58	$50.18	0	1.00x	0.0%	N/A	50	$22,328	$214,050	LEAPS-ONLY
MSTR (Joint) +180C −170C	$128.50	180	0	0	170	$233.00	$163.26	0	1.00x	0.0%	N/A	10	$53,000	$128,500	LEAPS-ONLY
AMZN +200C −250P +215P	$248.44	200	250	215	0	$267.92	$271.24	35	1.52x	13.5%	SAFE	5	$33,960	$124,220	OK
BMNR (Joint) +23C −18P +25P	$23.25	23	18	25	0	$36.42	$23.09	0	1.00x	-7.5%	ITM	150	$201,300	$348,750	OK
COPX +65C −90P +68P	$85.31	65	90	68	0	$93.40	$94.97	22	1.77x	20.3%	SAFE	20	$56,800	$170,620	OK
MU (Joint) +670C −800P +420P −1210C	$932.71	670	800	420	1210	$792.36	$810.14	380	4.31x	55.0%	SAFE	1	$11,472	$93,271	OK
Main (...1299)15 fortress(es) · 3 actionable · IC $1,182,360 · notional $3,364,828
IREN (Main) → +25C −47P +35P −55C	$43.17	25	47	35	55	$44.00	$50.91	12	1.75x	18.9%	SAFE	20	$32,000	$86,340	REPAIR SOON (30d)
IGV +70C −111C	$105.25	70	0	0	111	$96.50	$88.40	0	1.00x	0.0%	N/A	12	$31,800	$126,300	LEAPS-ONLY
MARA (Main) +13C	$11.46	13	0	0	0	$16.75	$11.10	0	1.00x	0.0%	N/A	400	$150,000	$458,400	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$23.25	25	18	45	0	$65.83	$57.62	0	1.00x	-93.5%	ITM	50	$204,150	$116,250	OK
BMNR (Main) +23C −18P +25P	$23.25	23	18	25	0	$53.26	$45.88	0	1.00x	-7.5%	ITM	75	$226,950	$174,375	OK
COIN (Main) +165C −240P +90P −220C	$170.66	165	240	90	220	$210.90	$214.77	150	9.93x	47.3%	SAFE	8	$13,440	$136,528	OK
COIN (Main) +500C −330P +300P −220C	$170.66	500	330	300	220	$563.00	$356.66	30	1.48x	-75.8%	ITM	25	$157,500	$426,650	OK
ETHA +13C −16P +10P	$18.05	13	16	10	0	$17.33	$17.74	6	2.39x	44.6%	SAFE	50	$21,650	$90,250	OK
GLD +320C −450P +330P −470C	$397.68	320	450	330	470	$456.00	$469.00	120	1.88x	17.0%	SAFE	10	$136,000	$397,680	OK
GLXY +38C −38P +18P	$22.73	38	38	18	0	$39.71	$35.20	20	10.05x	23.0%	SAFE	125	$27,625	$284,125	OK
HIMS +10C −20P +5P	$27.62	10	20	5	0	$17.47	$18.87	15	4.04x	81.9%	SAFE	15	$7,395	$41,430	OK
META +480C −650P +330P −665C	$681.55	480	650	330	665	$601.50	$604.01	320	5.38x	51.6%	SAFE	3	$21,900	$204,465	OK
MU (Main) +880C −1010P +340P −1210C	$932.71	880	1010	340	1210	$1028.60	$1048.47	670	5.51x	63.5%	SAFE	5	$74,300	$466,355	OK
NOW +80C −110P +90P −140C	$140.59	80	110	90	140	$108.93	$113.45	20	1.72x	36.0%	SAFE	10	$27,850	$140,590	OK
NVDA +215C −225P +200P	$215.09	215	225	200	0	$264.80	$229.99	25	1.50x	7.0%	OK	10	$49,800	$215,090	OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $150,280 · notional $1,115,619
DELL → +340C −390P +150P −550C	$569.62	340	390	150	550	$398.00	$407.09	240	5.14x	73.7%	SAFE	3	$17,400	$170,886	ROLL NOW (30d)
MARA (RetireInc) +40C	$11.46	40	0	0	0	$41.04	$11.16	0	1.00x	0.0%	N/A	500	$52,000	$573,000	LEAPS-ONLY
APP +460C −540P +185P	$325.08	460	540	185	0	$588.00	$605.84	355	3.77x	43.1%	SAFE	1	$12,800	$32,508	OK
CLSK +17C −17P +10P	$12.98	17	17	10	0	$20.74	$18.30	7	2.87x	23.0%	SAFE	25	$9,350	$32,451	OK
ENPH +45C −60P +20P	$35.90	45	60	20	0	$56.15	$58.23	40	6.48x	44.3%	SAFE	10	$7,300	$35,900	OK
IREN (RetireInc) +50C −70P +23P −55C	$43.17	50	70	23	55	$63.43	$66.85	47	7.86x	46.7%	SAFE	20	$13,700	$86,340	OK
MSTR (RetireInc) +125C −185P +55P −170C	$128.50	125	185	55	170	$161.00	$164.81	130	11.83x	57.2%	SAFE	4	$4,800	$51,400	OK
QCOM +190C −210P +100P −220C	$189.48	190	210	100	220	$224.00	$226.92	110	4.24x	47.2%	SAFE	5	$17,000	$94,740	OK
RKLB +115C −135P +45P	$63.99	115	135	45	0	$141.55	$149.50	90	4.39x	29.7%	SAFE	6	$15,930	$38,394	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,296,548
SPY +640C	$760.14	640	0	0	0	$764.00	$705.64	0	1.00x	0.0%	N/A	12	$148,800	$912,168	LEAPS-ONLY
AMD +420C −490P +350P −580C	$519.99	420	490	350	580	$489.91	$499.33	140	3.01x	32.7%	SAFE	2	$13,964	$103,998	OK
CRWV +105C −120P +40P −125C	$84.94	105	120	40	125	$125.45	$129.15	80	4.91x	52.9%	SAFE	5	$10,225	$42,470	OK
GOOG (Neville) +300C −345P +310P −355C	$343.04	300	345	310	355	$373.00	$345.71	35	1.48x	9.6%	OK	15	$109,500	$514,560	OK
GOOG (Neville) +340C −405P +360P −355C	$343.04	340	405	360	355	$398.00	$385.04	45	1.88x	-4.9%	ITM	5	$25,500	$171,520	OK
INTC +85C −100P +35P −116C	$101.15	85	100	35	116	$114.00	$115.53	65	3.24x	65.4%	SAFE	5	$14,500	$50,575	OK
IREN (Neville) +45C −65P +21P −55C	$43.17	45	65	21	55	$56.50	$58.52	44	15.67x	51.4%	SAFE	20	$6,000	$86,340	OK
MU (Neville) +970C −1110P +390P −1250C	$932.71	970	1110	390	1250	$1220.00	$1237.33	720	3.88x	58.2%	SAFE	2	$50,000	$186,542	OK
SNDK +1200C −1380P +810P −1950C	$1532.35	1200	1380	810	1950	$1620.00	$1636.07	570	2.36x	47.1%	SAFE	1	$42,000	$153,235	OK
SPCX +150C −195P +135P	$150.28	150	195	135	0	$186.00	$189.56	60	3.22x	10.2%	SAFE	5	$13,500	$75,140	OK

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 30d

Stock: $43.17 HP: 18.9% OTM Current hedge: $26,280/yr Baseline (roll-fwd, savings vs this): $28,651/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $79,055/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (50d) 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	93d	23.6%	$2.92	$-1.96	$-3,920	$22,920	$50,629	$5,730	14	$4,000	8mo	1mo	1.88x	PASS
2	34	Dec 18	93d	21.2%	$3.30	$-2.34	$-4,680	$25,903	$45,291	$2,747	13	$2,000	9mo	0mo	1.81x	PASS
3	32	Dec 18	93d	25.9%	$2.61	$-1.65	$-3,300	$20,487	$46,312	$8,163	15	$6,000	9mo	1mo	1.94x	PASS
4	31	Dec 18	93d	28.2%	$2.31	$-1.35	$-2,700	$18,132	$41,995	$10,518	16	$8,000	9mo	1mo	2.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.02	$24,480/yr	$22,920/yr	SELF-FUNDING
CC at MID $50 0.7σ, B $1.85	$44,400/yr	$22,920/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $43.17 → $32.78, hedge $50,629/yr)
CC at SS income stress-adjusted	$14,160/yr	$50,629/yr	DEFICIT $3,039/mo
CC at MID income stress-adjusted	$14,160/yr	$50,629/yr	DEFICIT $3,039/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $1.85) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$3,039/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, 30d

Stock: $43.17 HP: 18.9% OTM Current hedge: $26,280/yr Baseline (roll-fwd, savings vs this): $28,651/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $79,055/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-11-05 INTRADAY (50d) 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	93d	23.6%	$2.92	$-1.96	$-3,920	$22,920	$50,629	$5,730	14	$4,000	8mo	1mo	1.88x	PASS
2	34	Dec 18	93d	21.2%	$3.30	$-2.34	$-4,680	$25,903	$45,291	$2,747	13	$2,000	9mo	0mo	1.81x	PASS
3	32	Dec 18	93d	25.9%	$2.61	$-1.65	$-3,300	$20,487	$46,312	$8,163	15	$6,000	9mo	1mo	1.94x	PASS
4	31	Dec 18	93d	28.2%	$2.31	$-1.35	$-2,700	$18,132	$41,995	$10,518	16	$8,000	9mo	1mo	2.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $1.02	$24,480/yr	$22,920/yr	SELF-FUNDING
CC at MID $50 0.7σ, B $1.85	$44,400/yr	$22,920/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $43.17 → $32.78, hedge $50,629/yr)
CC at SS income stress-adjusted	$14,160/yr	$50,629/yr	DEFICIT $3,039/mo
CC at MID income stress-adjusted	$14,160/yr	$50,629/yr	DEFICIT $3,039/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($50, bid $1.85) in NORMAL markets. Self-funds today.
In 24% drawdown, even MID is short ~$3,039/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

DELL: HP 150P Maintenance Roll-Out · exp Oct 16 '26, 30d

Stock: $569.62 Current HP: 150P (30d, 73.7% OTM) Current hedge: $1,570/yr Current ML: $89,400 If HP lapses: ML $134,400 (+$45,000) Account: RetireInc (...7291) Contracts: 3 (300 sh) CC income: $988,444/yr Cost cap: 25% of CC = $247,111/yr IV: HIGH 70 qualifying ⚠ ER 2026-11-27 INTRADAY (72d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 150 → 165P (Dec 18 '26, 93d, 71.0% OTM) | Cost: $200/yr (0% of CC) | New ML: $84,900 ↓ $4,500 | Roll DEBIT $51 | Margin (TIMS): $37,690

PROTECTIVE PICK (lowest ML within cost cap): HP 150 → 390P (Nov 20 '26, 65d, 31.5% OTM) | Cost: $10,445/yr (1% of CC) | New ML: $17,400 ↓ $72,000 | Roll DEBIT $1,860 | Margin (TIMS): $20,951

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	165 CHEAP	Dec 18	93d	71.0%	$0.10	$0.17	$200	0%	$84,900	-$4,500	D $51
2	185	Nov 20	65d	67.5%	$0.02	$0.14	$236	0%	$78,900	-$10,500	D $42
3	150	Dec 18	93d	73.7%	$0.05	$0.22	$259	0%	$89,400	=	D $66
4	195	Nov 20	65d	65.8%	$0.03	$0.18	$303	0%	$75,900	-$13,500	D $54
5	150	Nov 20	65d	73.7%	$0.01	$0.20	$337	0%	$89,400	=	D $60
6	230	Nov 20	65d	59.6%	$0.16	$0.24	$404	0%	$65,400	-$24,000	D $72
7	195	Dec 18	93d	65.8%	$0.13	$0.44	$518	0%	$75,900	-$13,500	D $132
8	200	Dec 18	93d	64.9%	$0.20	$0.44	$518	0%	$74,400	-$15,000	D $132
9	185	Dec 18	93d	67.5%	$0.05	$0.56	$659	0%	$78,900	-$10,500	D $168
10	200	Nov 20	65d	64.9%	$0.01	$0.41	$691	0%	$74,400	-$15,000	D $123
11	210	Dec 18	93d	63.1%	$0.05	$0.75	$883	0%	$71,400	-$18,000	D $225
12	220	Dec 18	93d	61.4%	$0.01	$0.91	$1,071	0%	$68,400	-$21,000	D $273
▶ 13	390 PROT	Nov 20	65d	31.5%	$5.60	$6.20	$10,445	1%	$17,400	-$72,000	D $1,860

POST-REPAIR SUSTAINABILITY CC chain Oct 16 (30d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $560, B $46.60	$167,760/yr	$200/yr	SELF-FUNDING
CC at MID $640 0.7σ, B $17.90	$64,440/yr	$200/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($560, bid $46.60). 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).