Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$330,272/yr

TOTAL HEDGE (REPAIRED)

$54,367/yr

ANNUAL SAVINGS

$275,906/yr

ROLL CREDITS

$83,470

ADDITIONAL MAX LOSS

$-20,000

PORTFOLIO ACTION SUMMARY · 41 positions

2 · ROLL NOW2 · REPAIR PLAN7 · LEAPS-ONLY30 · 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) · 5 actionable · IC $452,110 · notional $1,415,284
IREN (Joint) → +25C −47P +35P −55C	$44.66	25	47	35	55	$44.00	$50.52	12	1.75x	21.6%	SAFE	20	$32,000	$89,327	ROLL NOW (28d)
AMZN → +200C −250P +215P −260C	$252.42	200	250	215	260	$267.92	$270.05	35	1.52x	14.8%	SAFE	5	$33,960	$126,210	REPAIR PLAN (63d)
GOOG (Joint) +310C −355C	$350.62	310	0	0	355	$392.50	$347.57	0	1.00x	0.0%	N/A	5	$41,250	$175,310	LEAPS-ONLY
IBIT +75C	$45.26	75	0	0	0	$70.58	$51.21	0	1.00x	0.0%	N/A	50	$22,328	$226,300	LEAPS-ONLY
MSTR (Joint) +180C −170C	$142.60	180	0	0	170	$233.00	$166.23	0	1.00x	0.0%	N/A	10	$53,000	$142,600	LEAPS-ONLY
BMNR (Joint) +23C −18P +25P	$25.52	23	18	25	0	$36.42	$23.88	0	1.00x	2.0%	TIGHT	150	$201,300	$382,800	OK
COPX +65C −90P +68P −92C	$86.76	65	90	68	92	$93.40	$95.87	22	1.77x	21.6%	SAFE	20	$56,800	$173,520	OK
MU (Joint) +670C −800P +420P −1025C	$992.17	670	800	420	1025	$792.36	$808.91	380	4.31x	57.7%	SAFE	1	$11,472	$99,217	OK
Main (...1299)14 fortress(es) · 4 actionable · IC $1,208,360 · notional $3,357,866
IREN (Main) → +25C −47P +35P −55C	$44.66	25	47	35	55	$44.00	$50.52	12	1.75x	21.6%	SAFE	20	$32,000	$89,327	ROLL NOW (28d)
BMNR (Main) → +25C −18P +45P	$25.52	25	18	45	0	$65.83	$58.04	0	1.00x	-76.3%	ITM	50	$204,150	$127,600	REPAIR PLAN (119d)
IGV +70C −111C	$104.14	70	0	0	111	$96.50	$87.03	0	1.00x	0.0%	N/A	12	$31,800	$124,968	LEAPS-ONLY
MARA (Main) +13C	$12.39	13	0	0	0	$16.75	$11.07	0	1.00x	0.0%	N/A	400	$150,000	$495,600	LEAPS-ONLY
BMNR (Main) +23C −18P +25P	$25.52	23	18	25	0	$53.26	$46.44	0	1.00x	2.0%	TIGHT	75	$226,950	$191,400	OK
COIN (Main) +165C −240P +90P −188C	$183.72	165	240	90	188	$210.90	$218.33	150	9.93x	51.0%	SAFE	8	$13,440	$146,976	OK
COIN (Main) +500C −330P +300P −188C	$183.72	500	330	300	188	$563.00	$361.87	30	1.48x	-63.3%	ITM	25	$157,500	$459,300	OK
DELL +310C −400P +320P	$589.55	310	400	320	0	$562.50	$571.31	80	1.32x	45.7%	SAFE	3	$75,750	$176,865	OK
ETHA +13C −16P +10P	$19.24	13	16	10	0	$17.33	$17.94	6	2.39x	48.0%	SAFE	50	$21,650	$96,200	OK
GLD +320C −450P +330P −470C	$399.26	320	450	330	470	$456.00	$468.52	120	1.88x	17.3%	SAFE	10	$136,000	$399,265	OK
GLXY +38C −38P +18P −26C	$23.36	38	38	18	26	$39.71	$35.18	20	10.05x	25.1%	SAFE	125	$27,625	$292,000	OK
HIMS +10C −20P +5P −32C	$28.30	10	20	5	32	$17.47	$18.72	15	4.04x	82.3%	SAFE	15	$7,395	$42,450	OK
MU (Main) +880C −1010P +340P −1210C	$992.17	880	1010	340	1210	$1028.60	$1047.59	670	5.51x	65.7%	SAFE	5	$74,300	$496,085	OK
NVDA +215C −225P +200P −232C	$219.83	215	225	200	232	$264.80	$229.90	25	1.50x	9.0%	OK	10	$49,800	$219,830	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $433,989 · notional $2,351,241
SPY +640C −770C	$760.75	640	0	0	770	$764.00	$702.65	0	1.00x	0.0%	N/A	12	$148,800	$912,900	LEAPS-ONLY
AMD +420C −490P +350P −580C	$549.84	420	490	350	580	$489.91	$498.82	140	3.01x	36.3%	SAFE	2	$13,964	$109,968	OK
CRWV +105C −120P +40P −125C	$80.91	105	120	40	125	$125.45	$128.96	80	4.91x	50.6%	SAFE	5	$10,225	$40,455	OK
GOOG (Neville) +300C −345P +310P −358C	$350.62	300	345	310	358	$373.00	$344.59	35	1.48x	11.6%	SAFE	15	$109,500	$525,930	OK
GOOG (Neville) +340C −405P +360P −358C	$350.62	340	405	360	358	$398.00	$383.14	45	1.88x	-2.7%	ITM	5	$25,500	$175,310	OK
INTC +85C −100P +35P −130C	$109.56	85	100	35	130	$114.00	$115.74	65	3.24x	68.1%	SAFE	5	$14,500	$54,780	OK
IREN (Neville) +45C −65P +21P −50C	$44.66	45	65	21	50	$56.50	$58.02	44	15.67x	53.0%	SAFE	20	$6,000	$89,327	OK
MU (Neville) +970C −1110P +390P −1250C	$992.17	970	1110	390	1250	$1220.00	$1235.29	720	3.88x	60.7%	SAFE	2	$50,000	$198,434	OK
SNDK +1200C −1380P +810P −1950C	$1673.12	1200	1380	810	1950	$1620.00	$1632.93	570	2.36x	51.6%	SAFE	1	$42,000	$167,312	OK
SPCX +150C −195P +135P −165C	$153.65	150	195	135	165	$186.00	$189.14	60	3.22x	12.1%	SAFE	5	$13,500	$76,825	OK
RetireInc (...7291)9 fortress(es) · 1 actionable · IC $180,200 · notional $1,167,925
MARA (RetireInc) +40C	$12.39	40	0	0	0	$41.04	$11.41	0	1.00x	0.0%	N/A	500	$52,000	$619,500	LEAPS-ONLY
AAPL +240C −330P +285P −345C	$335.89	240	330	285	345	$334.64	$336.58	45	1.48x	15.2%	SAFE	5	$47,320	$167,945	OK
APP +460C −540P +185P	$319.30	460	540	185	0	$588.00	$604.32	355	3.77x	42.1%	SAFE	1	$12,800	$31,930	OK
CLSK +17C −17P +10P	$13.75	17	17	10	0	$20.74	$18.25	7	2.87x	27.3%	SAFE	25	$9,350	$34,375	OK
ENPH +45C −60P +20P	$35.70	45	60	20	0	$56.15	$58.45	40	6.48x	44.0%	SAFE	10	$7,300	$35,700	OK
IREN (RetireInc) +50C −70P +23P −50C	$44.66	50	70	23	50	$63.43	$66.47	47	7.86x	48.5%	SAFE	20	$13,700	$89,327	OK
MSTR (RetireInc) +125C −185P +55P −170C	$142.60	125	185	55	170	$161.00	$165.21	130	11.83x	61.4%	SAFE	4	$4,800	$57,040	OK
QCOM +190C −210P +100P −220C	$185.88	190	210	100	220	$224.00	$225.62	110	4.24x	46.2%	SAFE	5	$17,000	$92,940	OK
RKLB +115C −135P +45P −75C	$65.28	115	135	45	75	$141.55	$147.13	90	4.39x	31.1%	SAFE	6	$15,930	$39,168	OK

AMZN: HP 215P Roll-Down · exp Nov 20 '26, 63d

RELAXED PASS — no candidate met the standard constraints. Widened gap-mult 2.0x → 8.0x; payback gate 1.0yr → 2.0yr to surface the best available option below. Treat as a guideline breach, not a clean repair.

Stock: $252.42 HP: 14.8% OTM Current hedge: $8,980/yr Baseline (roll-fwd, savings vs this): $8,282/yr SS: $267.92 (unchanged) Account: Joint (...1782) Contracts: 5 (500 sh) CC income: $15,391/yr IV: MEDIUM OTM floor: 10% Stress: 11% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-10-29 AMC (41d) 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	210	Jan 15	119d	16.8%	$4.45	$-1.56	$-780	$6,825	$14,186	$1,457	40	$2,500	21mo	2mo	1.59x	PASS
2	210	Dec 18	91d	16.8%	$3.45	$-0.56	$-280	$6,919	$15,041	$1,363	40	$2,500	22mo	2mo	1.59x	PASS
3	205	Jan 15	119d	18.8%	$3.65	$-0.76	$-380	$5,598	$11,809	$2,684	45	$5,000	22mo	3mo	1.66x	PASS
4	205	Dec 18	91d	18.8%	$2.80	$0.09	$45	$5,615	$12,133	$2,666	45	$5,000	23mo	3mo	1.66x	PASS
5	200	Dec 18	91d	20.8%	$2.21	$0.68	$340	$4,432	$9,626	$3,849	50	$7,500	23mo	5mo	1.74x	PASS
6	180	Dec 18	91d	28.7%	$0.98	$1.91	$955	$1,965	$3,830	$6,316	70	$17,500	33mo	10mo	2.03x	FAIL
7	180	Jan 15	119d	28.7%	$1.37	$1.52	$760	$2,101	$4,294	$6,180	70	$17,500	34mo	10mo	2.03x	FAIL
8	185	Dec 18	91d	26.7%	$1.26	$1.63	$815	$2,527	$4,813	$5,755	65	$15,000	31mo	9mo	1.96x	FAIL
9	185	Jan 15	119d	26.7%	$1.67	$1.22	$610	$2,561	$5,291	$5,720	65	$15,000	31mo	9mo	1.96x	FAIL
10	190	Dec 18	91d	24.7%	$1.52	$1.37	$685	$3,048	$6,217	$5,233	60	$12,500	29mo	7mo	1.88x	FAIL
11	190	Jan 15	119d	24.7%	$2.07	$0.82	$410	$3,175	$6,595	$5,107	60	$12,500	29mo	7mo	1.88x	FAIL
12	195	Dec 18	91d	22.7%	$1.86	$1.03	$515	$3,730	$7,621	$4,551	55	$10,000	26mo	6mo	1.81x	FAIL
13	195	Jan 15	119d	22.7%	$2.48	$0.41	$205	$3,803	$8,051	$4,478	55	$10,000	27mo	6mo	1.81x	FAIL
14	200	Jan 15	119d	20.8%	$3.05	$-0.16	$-80	$4,678	$9,662	$3,604	50	$7,500	25mo	5mo	1.74x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Oct 23 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $275, B $2.28	$11,726/yr	$6,825/yr	SELF-FUNDING
CC at MID $270 0.8σ, B $3.20	$16,457/yr	$6,825/yr	SELF-FUNDING
AT 11% DRAWDOWN (stock $252.42 → $224.02, hedge $14,186/yr)
CC at SS income stress-adjusted	$977/yr	$14,186/yr	DEFICIT $1,101/mo
CC at MID income stress-adjusted	$1,234/yr	$14,186/yr	DEFICIT $1,079/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($270, bid $3.20) in NORMAL markets. Self-funds today.
In 11% drawdown, even MID is short ~$1,079/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Joint): HP 35P Maintenance Roll-Out · exp Oct 16 '26, 28d

RELAXED PASS — no candidate met the standard constraints. Widened cost cap 25% → 50% of CC to surface the best available option below. Treat as a guideline breach, not a clean repair.

Stock: $44.66 Current HP: 35P (28d, 21.6% OTM) Current hedge: $17,468/yr Current ML: $56,000 If HP lapses: ML $126,000 (+$70,000) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $82,264/yr Cost cap: 50% of CC = $41,132/yr IV: HIGH 12 qualifying ⚠ ER 2026-11-05 INTRADAY (48d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Jan 15 '27, 119d, 21.6% OTM) | Cost: $23,618/yr (29% of CC) | New ML: $56,000 = ML | Roll DEBIT $6,420 | Margin (TIMS): $1,543

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 40P (Jan 15 '27, 119d, 10.4% OTM) | Cost: $37,113/yr (45% of CC) | New ML: $46,000 ↓ $10,000 | Roll DEBIT $10,820 | Margin (TIMS): $1,336

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Jan 15	119d	21.6%	$3.60	$3.85	$23,618	29%	$56,000	=	D $6,420
2	35	Dec 18	91d	21.6%	$2.91	$3.10	$24,868	30%	$56,000	=	D $4,920
3	35	Nov 20	63d	21.6%	$2.13	$2.33	$26,998	33%	$56,000	=	D $3,380
4	36	Dec 18	91d	19.4%	$3.25	$3.50	$28,077	34%	$54,000	-$2,000	D $5,720
5	37	Jan 15	119d	17.2%	$4.60	$4.65	$28,525	35%	$52,000	-$4,000	D $8,020
6	36	Nov 20	63d	19.4%	$2.40	$2.65	$30,706	37%	$54,000	-$2,000	D $4,020
7	37	Dec 18	91d	17.2%	$3.65	$3.85	$30,885	38%	$52,000	-$4,000	D $6,420
8	37	Nov 20	63d	17.2%	$2.74	$3.00	$34,762	42%	$52,000	-$4,000	D $4,720
9	38	Dec 18	91d	14.9%	$4.05	$4.35	$34,896	42%	$50,000	-$6,000	D $7,420
▶ 10	40 PROT	Jan 15	119d	10.4%	$5.80	$6.05	$37,113	45%	$46,000	-$10,000	D $10,820
11	39	Dec 18	91d	12.7%	$4.45	$4.75	$38,104	46%	$48,000	-$8,000	D $8,220
12	38	Nov 20	63d	14.9%	$3.10	$3.35	$38,817	47%	$50,000	-$6,000	D $5,420

POST-REPAIR SUSTAINABILITY CC chain Oct 23 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $2.14	$44,023/yr	$23,618/yr	SELF-FUNDING
CC at MID $52 0.7σ, B $1.98	$40,731/yr	$23,618/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($51, bid $2.14). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

Main (...1299)14 fortress(es) · 4 actionable · overview rows

BMNR (Main): HP 45P Roll-Down · exp Jan 15 '27, 119d

Stock: $25.52 HP: ITM Current hedge: $321,292/yr Baseline: current hedge (no same-strike quote) SS: $65.83 (unchanged) Account: Main (...1299) Contracts: 50 (5,000 sh) CC income: $104,036/yr IV: HIGH OTM floor: 8% Stress: 25% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-11-20 INTRADAY (63d) 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	22	Jan 15	119d	11.8%	$3.10	$16.85	$84,250	$47,542	$47,082	$273,750	-4	$-22,500	N/A	N/A	0.89x	PASS
2	21	Jan 15	119d	17.7%	$2.41	$17.54	$87,700	$36,960	$56,284	$284,332	-3	$-15,000	N/A	N/A	0.93x	PASS
3	20	Jan 15	119d	21.6%	$1.94	$18.01	$90,050	$29,752	$63,952	$291,540	-2	$-10,000	N/A	N/A	0.95x	PASS
4	19	Jan 15	119d	25.5%	$1.60	$18.35	$91,750	$24,538	$65,945	$296,754	-1	$-5,000	N/A	N/A	0.98x	PASS
5	18	Jan 15	119d	29.5%	$1.38	$18.57	$92,850	$21,164	$56,744	$300,128	0	$0	N/A	N/A	1.00x	PASS

POST-REPAIR SUSTAINABILITY CC chain Oct 23 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS BELOW SS $58 — assignment locks a loss · $39, B $0.13	$6,686/yr	$47,542/yr	DEFICIT $3,405/mo
CC at MID $30 0.7σ, B $0.74	$38,057/yr	$47,542/yr	DEFICIT $790/mo
AT 25% DRAWDOWN (stock $25.52 → $19.16, hedge $47,082/yr)
CC at SS income stress-adjusted	$6,686/yr	$47,082/yr	DEFICIT $3,366/mo
CC at MID income stress-adjusted	$6,686/yr	$47,082/yr	DEFICIT $3,366/mo

NOT SELF-FUNDING Requires ongoing capital even at MID

CC WRITING STRATEGY

NO SAFE CC STRATEGY at the current chain. Hedge bleeds even at MID strike. Either restructure (deeper-OTM HP, smaller position) or commit to ongoing capital subsidy.

FIGHT no published plan for this fortress (seam as of 2026-09-18 21:45). Fight plans cover uncovered deep-drawdown fortresses; a covered or shallow slice deliberately has none.

IREN (Main): HP 35P Maintenance Roll-Out · exp Oct 16 '26, 28d

RELAXED PASS — no candidate met the standard constraints. Widened cost cap 25% → 50% of CC to surface the best available option below. Treat as a guideline breach, not a clean repair.

Stock: $44.66 Current HP: 35P (28d, 21.6% OTM) Current hedge: $17,468/yr Current ML: $56,000 If HP lapses: ML $126,000 (+$70,000) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $82,264/yr Cost cap: 50% of CC = $41,132/yr IV: HIGH 12 qualifying ⚠ ER 2026-11-05 INTRADAY (48d) inside new HP tenor

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Jan 15	119d	21.6%	$3.60	$3.85	$23,618	29%	$56,000	=	D $6,420
2	35	Dec 18	91d	21.6%	$2.91	$3.10	$24,868	30%	$56,000	=	D $4,920
3	35	Nov 20	63d	21.6%	$2.13	$2.33	$26,998	33%	$56,000	=	D $3,380
4	36	Dec 18	91d	19.4%	$3.25	$3.50	$28,077	34%	$54,000	-$2,000	D $5,720
5	37	Jan 15	119d	17.2%	$4.60	$4.65	$28,525	35%	$52,000	-$4,000	D $8,020
6	36	Nov 20	63d	19.4%	$2.40	$2.65	$30,706	37%	$54,000	-$2,000	D $4,020
7	37	Dec 18	91d	17.2%	$3.65	$3.85	$30,885	38%	$52,000	-$4,000	D $6,420
8	37	Nov 20	63d	17.2%	$2.74	$3.00	$34,762	42%	$52,000	-$4,000	D $4,720
9	38	Dec 18	91d	14.9%	$4.05	$4.35	$34,896	42%	$50,000	-$6,000	D $7,420
▶ 10	40 PROT	Jan 15	119d	10.4%	$5.80	$6.05	$37,113	45%	$46,000	-$10,000	D $10,820
11	39	Dec 18	91d	12.7%	$4.45	$4.75	$38,104	46%	$48,000	-$8,000	D $8,220
12	38	Nov 20	63d	14.9%	$3.10	$3.35	$38,817	47%	$50,000	-$6,000	D $5,420

POST-REPAIR SUSTAINABILITY CC chain Oct 23 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $2.14	$44,023/yr	$23,618/yr	SELF-FUNDING
CC at MID $52 0.7σ, B $1.98	$40,731/yr	$23,618/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($51, bid $2.14). 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).