Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$54,507/yr

TOTAL HEDGE (REPAIRED)

$51,806/yr

ANNUAL SAVINGS

$2,700/yr

ROLL CREDITS

-$9,320

ADDITIONAL MAX LOSS

$4,000

PORTFOLIO ACTION SUMMARY · 40 positions

2 · REPAIR SOON7 · LEAPS-ONLY31 · 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 $1,321,989
IREN (Joint) → +25C −47P +35P −55C	$42.72	25	47	35	55	$44.00	$50.89	12	1.75x	18.1%	SAFE	20	$32,000	$85,440	REPAIR SOON (30d)
GOOG (Joint) +310C −355C	$340.06	310	0	0	355	$392.50	$347.96	0	1.00x	0.0%	N/A	5	$41,250	$170,030	LEAPS-ONLY
IBIT +75C	$43.03	75	0	0	0	$70.58	$50.92	0	1.00x	0.0%	N/A	50	$22,328	$215,150	LEAPS-ONLY
MSTR (Joint) +180C −170C	$125.49	180	0	0	170	$233.00	$164.92	0	1.00x	0.0%	N/A	10	$53,000	$125,490	LEAPS-ONLY
AMZN +200C −250P +215P	$245.81	200	250	215	0	$267.92	$270.58	35	1.52x	12.5%	SAFE	5	$33,960	$122,905	OK
BMNR (Joint) +23C −18P +25P	$22.82	23	18	25	0	$36.42	$23.67	0	1.00x	-9.6%	ITM	150	$201,300	$342,300	OK
COPX +65C −90P +68P	$84.07	65	90	68	0	$93.40	$95.48	22	1.77x	19.1%	SAFE	20	$56,800	$168,140	OK
MU (Joint) +670C −800P +420P −1210C	$925.34	670	800	420	1210	$792.36	$810.22	380	4.31x	54.6%	SAFE	1	$11,472	$92,534	OK
Main (...1299)14 fortress(es) · 3 actionable · IC $1,208,360 · notional $3,129,074
IREN (Main) → +25C −47P +35P −55C	$42.72	25	47	35	55	$44.00	$50.89	12	1.75x	18.1%	SAFE	20	$32,000	$85,440	REPAIR SOON (30d)
IGV +70C −111C	$105.06	70	0	0	111	$96.50	$87.90	0	1.00x	0.0%	N/A	12	$31,800	$126,072	LEAPS-ONLY
MARA (Main) +13C	$11.03	13	0	0	0	$16.75	$10.97	0	1.00x	0.0%	N/A	400	$150,000	$441,200	LEAPS-ONLY
BMNR (Main) +25C −18P +45P	$22.82	25	18	45	0	$65.83	$58.24	0	1.00x	-97.2%	ITM	50	$204,150	$114,100	OK
BMNR (Main) +23C −18P +25P	$22.82	23	18	25	0	$53.26	$46.29	0	1.00x	-9.6%	ITM	75	$226,950	$171,150	OK
COIN (Main) +165C −240P +90P	$164.57	165	240	90	0	$210.90	$216.62	150	9.93x	45.3%	SAFE	8	$13,440	$131,656	OK
COIN (Main) +500C −330P +300P	$164.57	500	330	300	0	$563.00	$357.30	30	1.48x	-82.3%	ITM	25	$157,500	$411,425	OK
DELL +310C −400P +320P −595C	$562.37	310	400	320	595	$562.50	$570.58	80	1.32x	43.1%	SAFE	3	$75,750	$168,711	OK
ETHA +13C −16P +10P	$18.14	13	16	10	0	$17.33	$17.60	6	2.39x	44.9%	SAFE	50	$21,650	$90,700	OK
GLD +320C −450P +330P −470C	$392.10	320	450	330	470	$456.00	$471.03	120	1.88x	15.8%	SAFE	10	$136,000	$392,100	OK
GLXY +38C −38P +18P	$22.23	38	38	18	0	$39.71	$35.10	20	10.05x	21.3%	SAFE	125	$27,625	$277,875	OK
HIMS +10C −20P +5P	$27.99	10	20	5	0	$17.47	$19.06	15	4.04x	82.1%	SAFE	15	$7,395	$41,985	OK
MU (Main) +880C −1010P +340P −1210C	$925.34	880	1010	340	1210	$1028.60	$1047.16	670	5.51x	63.3%	SAFE	5	$74,300	$462,670	OK
NVDA +215C −225P +200P −222C	$213.99	215	225	200	222	$264.80	$229.81	25	1.50x	6.5%	OK	10	$49,800	$213,990	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,278,549
SPY +640C	$754.02	640	0	0	0	$764.00	$704.96	0	1.00x	0.0%	N/A	12	$148,800	$904,824	LEAPS-ONLY
AMD +420C −490P +350P −580C	$514.01	420	490	350	580	$489.91	$498.61	140	3.01x	31.9%	SAFE	2	$13,964	$102,802	OK
CRWV +105C −120P +40P −125C	$83.52	105	120	40	125	$125.45	$128.98	80	4.91x	52.1%	SAFE	5	$10,225	$41,760	OK
GOOG (Neville) +300C −345P +310P −355C	$340.06	300	345	310	355	$373.00	$345.23	35	1.48x	8.8%	OK	15	$109,500	$510,090	OK
GOOG (Neville) +340C −405P +360P −355C	$340.06	340	405	360	355	$398.00	$384.46	45	1.88x	-5.9%	ITM	5	$25,500	$170,030	OK
INTC +85C −100P +35P −116C	$101.16	85	100	35	116	$114.00	$116.33	65	3.24x	65.4%	SAFE	5	$14,500	$50,580	OK
IREN (Neville) +45C −65P +21P −55C	$42.72	45	65	21	55	$56.50	$57.98	44	15.67x	50.8%	SAFE	20	$6,000	$85,440	OK
MU (Neville) +970C −1110P +390P −1250C	$925.34	970	1110	390	1250	$1220.00	$1237.85	720	3.88x	57.9%	SAFE	2	$50,000	$185,068	OK
SNDK +1200C −1380P +810P −1950C	$1525.40	1200	1380	810	1950	$1620.00	$1636.69	570	2.36x	46.9%	SAFE	1	$42,000	$152,540	OK
SPCX +150C −195P +135P −165C	$150.83	150	195	135	165	$186.00	$189.70	60	3.22x	10.5%	SAFE	5	$13,500	$75,415	OK
RetireInc (...7291)8 fortress(es) · 1 actionable · IC $132,880 · notional $917,868
MARA (RetireInc) +40C	$11.03	40	0	0	0	$41.04	$11.07	0	1.00x	0.0%	N/A	500	$52,000	$551,500	LEAPS-ONLY
APP +460C −540P +185P	$326.95	460	540	185	0	$588.00	$608.31	355	3.77x	43.4%	SAFE	1	$12,800	$32,695	OK
CLSK +17C −17P +10P	$12.74	17	17	10	0	$20.74	$18.09	7	2.87x	21.5%	SAFE	25	$9,350	$31,862	OK
ENPH +45C −60P +20P	$35.37	45	60	20	0	$56.15	$59.17	40	6.48x	43.5%	SAFE	10	$7,300	$35,370	OK
IREN (RetireInc) +50C −70P +23P −55C	$42.72	50	70	23	55	$63.43	$66.60	47	7.86x	46.2%	SAFE	20	$13,700	$85,440	OK
MSTR (RetireInc) +125C −185P +55P −170C	$125.49	125	185	55	170	$161.00	$165.71	130	11.83x	56.2%	SAFE	4	$4,800	$50,196	OK
QCOM +190C −210P +100P −220C	$185.71	190	210	100	220	$224.00	$227.24	110	4.24x	46.2%	SAFE	5	$17,000	$92,855	OK
RKLB +115C −135P +45P	$63.25	115	135	45	0	$141.55	$148.38	90	4.39x	28.9%	SAFE	6	$15,930	$37,950	OK

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

Stock: $42.72 HP: 18.1% OTM Current hedge: $27,253/yr Baseline (roll-fwd, savings vs this): $29,043/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $79,419/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 5 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	34	Dec 18	93d	20.4%	$3.30	$-2.33	$-4,660	$25,903	$43,722	$3,140	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Dec 18	93d	22.8%	$2.94	$-1.97	$-3,940	$23,077	$50,001	$5,966	14	$4,000	8mo	1mo	1.88x	PASS
3	32	Dec 18	93d	25.1%	$2.61	$-1.64	$-3,280	$20,487	$48,667	$8,556	15	$6,000	8mo	1mo	1.94x	PASS
4	31	Dec 18	93d	27.4%	$2.30	$-1.33	$-2,660	$18,054	$43,172	$10,989	16	$8,000	9mo	1mo	2.00x	PASS
5	30	Dec 18	93d	29.8%	$2.15	$-1.18	$-2,360	$16,876	$39,247	$12,167	17	$10,000	10mo	1mo	2.06x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $0.89	$21,360/yr	$25,903/yr	DEFICIT $379/mo
CC at MID $49 0.6σ, B $1.85	$44,400/yr	$25,903/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $42.72 → $32.41, hedge $43,722/yr)
CC at SS income stress-adjusted	$12,720/yr	$43,722/yr	DEFICIT $2,583/mo
CC at MID income stress-adjusted	$12,720/yr	$43,722/yr	DEFICIT $2,583/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 ~$2,583/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

Main (...1299)14 fortress(es) · 3 actionable · overview rows

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

Stock: $42.72 HP: 18.1% OTM Current hedge: $27,253/yr Baseline (roll-fwd, savings vs this): $29,043/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $79,419/yr IV: HIGH OTM floor: 8% Stress: 24% DD Payback gate: 12mo (1.0yr) 5 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	34	Dec 18	93d	20.4%	$3.30	$-2.33	$-4,660	$25,903	$43,722	$3,140	13	$2,000	8mo	0mo	1.81x	PASS
2	33	Dec 18	93d	22.8%	$2.94	$-1.97	$-3,940	$23,077	$50,001	$5,966	14	$4,000	8mo	1mo	1.88x	PASS
3	32	Dec 18	93d	25.1%	$2.61	$-1.64	$-3,280	$20,487	$48,667	$8,556	15	$6,000	8mo	1mo	1.94x	PASS
4	31	Dec 18	93d	27.4%	$2.30	$-1.33	$-2,660	$18,054	$43,172	$10,989	16	$8,000	9mo	1mo	2.00x	PASS
5	30	Dec 18	93d	29.8%	$2.15	$-1.18	$-2,360	$16,876	$39,247	$12,167	17	$10,000	10mo	1mo	2.06x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $0.89	$21,360/yr	$25,903/yr	DEFICIT $379/mo
CC at MID $49 0.6σ, B $1.85	$44,400/yr	$25,903/yr	SELF-FUNDING
AT 24% DRAWDOWN (stock $42.72 → $32.41, hedge $43,722/yr)
CC at SS income stress-adjusted	$12,720/yr	$43,722/yr	DEFICIT $2,583/mo
CC at MID income stress-adjusted	$12,720/yr	$43,722/yr	DEFICIT $2,583/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 ~$2,583/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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).