Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$316,773/yr

TOTAL HEDGE (REPAIRED)

$58,661/yr

ANNUAL SAVINGS

$258,112/yr

ROLL CREDITS

$79,005

ADDITIONAL MAX LOSS

$-27,500

PORTFOLIO ACTION SUMMARY · 43 positions

2 · ROLL NOW2 · REPAIR PLAN7 · 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)9 fortress(es) · 5 actionable · IC $502,060 · notional $1,561,893
IREN (Joint) → +25C −47P +35P −55C	$46.27	25	47	35	55	$44.00	$50.52	12	1.75x	24.4%	SAFE	20	$32,000	$92,540	ROLL NOW (28d)
AMZN → +200C −250P +215P −260C	$254.12	200	250	215	260	$267.92	$270.26	35	1.52x	15.4%	SAFE	5	$33,960	$127,060	REPAIR PLAN (63d)
GOOG (Joint) +310C −355C	$344.93	310	0	0	355	$392.50	$347.98	0	1.00x	0.0%	N/A	5	$41,250	$172,465	LEAPS-ONLY
IBIT +75C	$46.07	75	0	0	0	$70.58	$51.20	0	1.00x	0.0%	N/A	50	$22,328	$230,350	LEAPS-ONLY
MSTR (Joint) +180C −170C	$153.51	180	0	0	170	$233.00	$165.94	0	1.00x	0.0%	N/A	10	$53,000	$153,510	LEAPS-ONLY
BMNR (Joint) +23C −18P +25P	$26.10	23	18	25	0	$36.42	$23.60	0	1.00x	4.2%	TIGHT	150	$201,300	$391,500	OK
COPX +65C −90P +68P −92C	$86.98	65	90	68	92	$93.40	$95.64	22	1.77x	21.8%	SAFE	20	$56,800	$173,960	OK
HOOD +65C −95P +80P −130C	$119.31	65	95	80	130	$114.95	$119.67	15	1.30x	32.9%	SAFE	10	$49,950	$119,310	OK
MU (Joint) +670C −800P +420P −1025C	$1011.98	670	800	420	1025	$792.36	$812.51	380	4.31x	58.5%	SAFE	1	$11,472	$101,198	OK
Main (...1299)14 fortress(es) · 4 actionable · IC $1,208,360 · notional $3,461,721
IREN (Main) → +25C −47P +35P −55C	$46.27	25	47	35	55	$44.00	$50.52	12	1.75x	24.4%	SAFE	20	$32,000	$92,540	ROLL NOW (28d)
BMNR (Main) → +25C −18P +45P	$26.10	25	18	45	0	$65.83	$58.44	0	1.00x	-72.4%	ITM	50	$204,150	$130,500	REPAIR PLAN (119d)
IGV +70C −111C	$104.39	70	0	0	111	$96.50	$88.13	0	1.00x	0.0%	N/A	12	$31,800	$125,268	LEAPS-ONLY
MARA (Main) +13C	$13.27	13	0	0	0	$16.75	$10.88	0	1.00x	0.0%	N/A	400	$150,000	$530,800	LEAPS-ONLY
BMNR (Main) +23C −18P +25P	$26.10	23	18	25	0	$53.26	$46.29	0	1.00x	4.2%	TIGHT	75	$226,950	$195,750	OK
COIN (Main) +165C −240P +90P −240C	$193.35	165	240	90	240	$210.90	$215.11	150	9.93x	53.5%	SAFE	8	$13,440	$154,680	OK
COIN (Main) +500C −330P +300P −240C	$193.35	500	330	300	240	$563.00	$359.59	30	1.48x	-55.2%	ITM	25	$157,500	$483,375	OK
DELL +310C −400P +320P −625C	$573.36	310	400	320	625	$562.50	$571.19	80	1.32x	44.2%	SAFE	3	$75,750	$172,008	OK
ETHA +13C −16P +10P	$19.95	13	16	10	0	$17.33	$17.79	6	2.39x	49.9%	SAFE	50	$21,650	$99,750	OK
GLD +320C −450P +330P −445C	$401.70	320	450	330	445	$456.00	$468.48	120	1.88x	17.8%	SAFE	10	$136,000	$401,700	OK
GLXY +38C −38P +18P −32C	$24.60	38	38	18	32	$39.71	$35.10	20	10.05x	28.9%	SAFE	125	$27,625	$307,500	OK
HIMS +10C −20P +5P −32C	$27.94	10	20	5	32	$17.47	$18.97	15	4.04x	82.1%	SAFE	15	$7,395	$41,910	OK
MU (Main) +880C −1010P +340P −1210C	$1011.98	880	1010	340	1210	$1028.60	$1046.57	670	5.51x	66.4%	SAFE	5	$74,300	$505,990	OK
NVDA +215C −225P +200P −232C	$219.95	215	225	200	232	$264.80	$229.88	25	1.50x	9.1%	OK	10	$49,800	$219,950	OK
Neville (...0865)11 fortress(es) · 1 actionable · IC $454,989 · notional $2,403,574
SPY +640C −769C	$761.33	640	0	0	769	$764.00	$700.87	0	1.00x	0.0%	N/A	12	$148,800	$913,596	LEAPS-ONLY
AMD +420C −490P +350P −580C	$551.49	420	490	350	580	$489.91	$498.65	140	3.01x	36.5%	SAFE	2	$13,964	$110,298	OK
CRCL +45C −65P +40P −100C	$91.67	45	65	40	100	$87.00	$91.96	25	1.60x	56.4%	SAFE	5	$21,000	$45,835	OK
CRWV +105C −120P +40P −87C	$81.41	105	120	40	87	$125.45	$128.77	80	4.91x	50.9%	SAFE	5	$10,225	$40,705	OK
GOOG (Neville) +300C −345P +310P −358C	$344.93	300	345	310	358	$373.00	$343.76	35	1.48x	10.1%	SAFE	15	$109,500	$517,395	OK
GOOG (Neville) +340C −405P +360P −358C	$344.93	340	405	360	358	$398.00	$383.34	45	1.88x	-4.4%	ITM	5	$25,500	$172,465	OK
INTC +85C −100P +35P −130C	$108.87	85	100	35	130	$114.00	$115.68	65	3.24x	67.9%	SAFE	5	$14,500	$54,435	OK
IREN (Neville) +45C −65P +21P −50C	$46.27	45	65	21	50	$56.50	$58.10	44	15.67x	54.6%	SAFE	20	$6,000	$92,540	OK
MU (Neville) +970C −1110P +390P −1250C	$1011.98	970	1110	390	1250	$1220.00	$1235.08	720	3.88x	61.5%	SAFE	2	$50,000	$202,396	OK
SNDK +1200C −1380P +810P −1950C	$1769.79	1200	1380	810	1950	$1620.00	$1631.23	570	2.36x	54.2%	SAFE	1	$42,000	$176,979	OK
SPCX +150C −195P +135P −165C	$153.86	150	195	135	165	$186.00	$188.91	60	3.22x	12.3%	SAFE	5	$13,500	$76,930	OK
RetireInc (...7291)9 fortress(es) · 1 actionable · IC $180,200 · notional $1,215,511
MARA (RetireInc) +40C	$13.27	40	0	0	0	$41.04	$11.57	0	1.00x	0.0%	N/A	500	$52,000	$663,500	LEAPS-ONLY
AAPL +240C −330P +285P −345C	$336.77	240	330	285	345	$334.64	$336.39	45	1.48x	15.4%	SAFE	5	$47,320	$168,385	OK
APP +460C −540P +185P −330C	$311.64	460	540	185	330	$588.00	$605.86	355	3.77x	40.6%	SAFE	1	$12,800	$31,164	OK
CLSK +17C −17P +10P	$14.35	17	17	10	0	$20.74	$18.11	7	2.87x	30.3%	SAFE	25	$9,350	$35,875	OK
ENPH +45C −60P +20P	$34.69	45	60	20	0	$56.15	$59.12	40	6.48x	42.3%	SAFE	10	$7,300	$34,690	OK
IREN (RetireInc) +50C −70P +23P −50C	$46.27	50	70	23	50	$63.43	$66.55	47	7.86x	50.3%	SAFE	20	$13,700	$92,540	OK
MSTR (RetireInc) +125C −185P +55P −170C	$153.51	125	185	55	170	$161.00	$164.09	130	11.83x	64.2%	SAFE	4	$4,800	$61,404	OK
QCOM +190C −210P +100P −220C	$178.41	190	210	100	220	$224.00	$227.23	110	4.24x	43.9%	SAFE	5	$17,000	$89,205	OK
RKLB +115C −135P +45P −75C	$64.58	115	135	45	75	$141.55	$148.65	90	4.39x	30.3%	SAFE	6	$15,930	$38,748	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: $254.12 HP: 15.4% OTM Current hedge: $8,517/yr Baseline (roll-fwd, savings vs this): $7,821/yr SS: $267.92 (unchanged) Account: Joint (...1782) Contracts: 5 (500 sh) CC income: $17,288/yr IV: MEDIUM OTM floor: 10% Stress: 11% DD Payback gate: 12mo (1.0yr) 1 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	17.4%	$4.25	$-1.49	$-745	$6,518	$13,496	$1,304	40	$2,500	23mo	2mo	1.59x	PASS
2	180	Dec 18	91d	29.2%	$1.00	$1.76	$880	$2,005	$3,570	$5,816	70	$17,500	36mo	9mo	2.03x	FAIL
3	180	Jan 15	119d	29.2%	$1.38	$1.38	$690	$2,116	$4,079	$5,705	70	$17,500	37mo	9mo	2.03x	FAIL
4	185	Dec 18	91d	27.2%	$1.22	$1.54	$770	$2,447	$4,532	$5,375	65	$15,000	33mo	8mo	1.96x	FAIL
5	185	Jan 15	119d	27.2%	$1.63	$1.13	$565	$2,500	$5,061	$5,322	65	$15,000	34mo	8mo	1.96x	FAIL
6	190	Dec 18	91d	25.2%	$1.42	$1.34	$670	$2,848	$5,876	$4,974	60	$12,500	30mo	7mo	1.88x	FAIL
7	190	Jan 15	119d	25.2%	$1.96	$0.80	$400	$3,006	$6,211	$4,816	60	$12,500	31mo	7mo	1.88x	FAIL
8	195	Dec 18	91d	23.3%	$1.79	$0.97	$485	$3,590	$7,220	$4,232	55	$10,000	28mo	6mo	1.81x	FAIL
9	195	Jan 15	119d	23.3%	$2.38	$0.38	$190	$3,650	$7,668	$4,171	55	$10,000	29mo	6mo	1.81x	FAIL
10	200	Dec 18	91d	21.3%	$2.15	$0.61	$305	$4,312	$9,025	$3,510	50	$7,500	26mo	4mo	1.74x	FAIL
11	200	Jan 15	119d	21.3%	$2.88	$-0.12	$-60	$4,417	$9,202	$3,405	50	$7,500	26mo	4mo	1.74x	FAIL
12	205	Dec 18	91d	19.3%	$2.66	$0.10	$50	$5,335	$11,431	$2,487	45	$5,000	24mo	3mo	1.66x	FAIL
13	205	Jan 15	119d	19.3%	$3.50	$-0.74	$-370	$5,368	$11,119	$2,454	45	$5,000	24mo	3mo	1.66x	FAIL
14	210	Dec 18	91d	17.4%	$3.30	$-0.54	$-270	$6,618	$14,239	$1,203	40	$2,500	25mo	2mo	1.59x	FAIL

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $275, B $2.65	$13,629/yr	$6,518/yr	SELF-FUNDING
CC at MID $270 0.7σ, B $3.45	$17,743/yr	$6,518/yr	SELF-FUNDING
AT 11% DRAWDOWN (stock $254.12 → $225.32, hedge $13,496/yr)
CC at SS income stress-adjusted	$720/yr	$13,496/yr	DEFICIT $1,065/mo
CC at MID income stress-adjusted	$823/yr	$13,496/yr	DEFICIT $1,056/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($270, bid $3.45) in NORMAL markets. Self-funds today.
In 11% drawdown, even MID is short ~$1,056/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: $46.27 Current HP: 35P (28d, 24.4% OTM) Current hedge: $14,861/yr Current ML: $56,000 If HP lapses: ML $126,000 (+$70,000) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $83,529/yr Cost cap: 50% of CC = $41,764/yr IV: HIGH 16 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, 24.4% OTM) | Cost: $21,777/yr (26% of CC) | New ML: $56,000 = ML | Roll DEBIT $6,020 | Margin (TIMS): $1,655

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 42P (Jan 15 '27, 119d, 9.2% OTM) | Cost: $40,794/yr (49% of CC) | New ML: $42,000 ↓ $14,000 | Roll DEBIT $12,220 | Margin (TIMS): $1,374

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Jan 15	119d	24.4%	$3.50	$3.55	$21,777	26%	$56,000	=	D $6,020
2	35	Nov 20	63d	24.4%	$1.85	$2.00	$23,175	28%	$56,000	=	D $2,920
3	35	Dec 18	91d	24.4%	$2.67	$2.89	$23,184	28%	$56,000	=	D $4,700
4	36	Dec 18	91d	22.2%	$2.99	$3.30	$26,473	32%	$54,000	-$2,000	D $5,520
5	37	Jan 15	119d	20.0%	$4.20	$4.45	$27,298	33%	$52,000	-$4,000	D $7,820
6	36	Nov 20	63d	22.2%	$2.15	$2.45	$28,389	34%	$54,000	-$2,000	D $3,820
7	37	Dec 18	91d	20.0%	$3.30	$3.65	$29,280	35%	$52,000	-$4,000	D $6,220
8	37	Nov 20	63d	20.0%	$2.41	$2.65	$30,706	37%	$52,000	-$4,000	D $4,220
9	38	Dec 18	91d	17.9%	$3.70	$3.95	$31,687	38%	$50,000	-$6,000	D $6,820
10	40	Jan 15	119d	13.6%	$5.40	$5.70	$34,966	42%	$46,000	-$10,000	D $10,320
11	39	Dec 18	91d	15.7%	$4.10	$4.40	$35,297	42%	$48,000	-$8,000	D $7,720
12	38	Nov 20	63d	17.9%	$2.74	$3.05	$35,341	42%	$50,000	-$6,000	D $5,020
▶ 13	42 PROT	Jan 15	119d	9.2%	$6.35	$6.65	$40,794	49%	$42,000	-$14,000	D $12,220

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $2.84	$58,423/yr	$21,777/yr	SELF-FUNDING
CC at MID $54 0.7σ, B $2.08	$42,789/yr	$21,777/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($51, bid $2.84). 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: $26.10 HP: ITM Current hedge: $308,256/yr Baseline: current hedge (no same-strike quote) SS: $65.83 (unchanged) Account: Main (...1299) Contracts: 50 (5,000 sh) CC income: $98,250/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	24	Jan 15	119d	8.0%	$3.40	$15.95	$79,750	$52,143	$43,708	$256,113	-6	$-30,000	N/A	N/A	0.85x	PASS
2	22	Jan 15	119d	13.8%	$2.71	$16.64	$83,200	$41,561	$49,076	$266,695	-4	$-22,500	N/A	N/A	0.89x	PASS
3	21	Jan 15	119d	19.5%	$2.10	$17.25	$86,250	$32,206	$59,044	$276,050	-3	$-15,000	N/A	N/A	0.93x	PASS
4	20	Jan 15	119d	23.4%	$1.72	$17.63	$88,150	$26,378	$65,179	$281,878	-2	$-10,000	N/A	N/A	0.95x	PASS
5	19	Jan 15	119d	27.2%	$1.44	$17.91	$89,550	$22,084	$60,578	$286,172	-1	$-5,000	N/A	N/A	0.98x	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 $0.24	$12,343/yr	$52,143/yr	DEFICIT $3,317/mo
CC at MID $30 0.6σ, B $1.15	$59,143/yr	$52,143/yr	SELF-FUNDING
AT 25% DRAWDOWN (stock $26.10 → $19.61, hedge $43,708/yr)
CC at SS income stress-adjusted	$12,343/yr	$43,708/yr	DEFICIT $2,614/mo
CC at MID income stress-adjusted	$12,343/yr	$43,708/yr	DEFICIT $2,614/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($30, bid $1.15) in NORMAL markets. Self-funds today.
In 25% drawdown, even MID is short ~$2,614/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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: $46.27 Current HP: 35P (28d, 24.4% OTM) Current hedge: $14,861/yr Current ML: $56,000 If HP lapses: ML $126,000 (+$70,000) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $83,529/yr Cost cap: 50% of CC = $41,764/yr IV: HIGH 16 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	24.4%	$3.50	$3.55	$21,777	26%	$56,000	=	D $6,020
2	35	Nov 20	63d	24.4%	$1.85	$2.00	$23,175	28%	$56,000	=	D $2,920
3	35	Dec 18	91d	24.4%	$2.67	$2.89	$23,184	28%	$56,000	=	D $4,700
4	36	Dec 18	91d	22.2%	$2.99	$3.30	$26,473	32%	$54,000	-$2,000	D $5,520
5	37	Jan 15	119d	20.0%	$4.20	$4.45	$27,298	33%	$52,000	-$4,000	D $7,820
6	36	Nov 20	63d	22.2%	$2.15	$2.45	$28,389	34%	$54,000	-$2,000	D $3,820
7	37	Dec 18	91d	20.0%	$3.30	$3.65	$29,280	35%	$52,000	-$4,000	D $6,220
8	37	Nov 20	63d	20.0%	$2.41	$2.65	$30,706	37%	$52,000	-$4,000	D $4,220
9	38	Dec 18	91d	17.9%	$3.70	$3.95	$31,687	38%	$50,000	-$6,000	D $6,820
10	40	Jan 15	119d	13.6%	$5.40	$5.70	$34,966	42%	$46,000	-$10,000	D $10,320
11	39	Dec 18	91d	15.7%	$4.10	$4.40	$35,297	42%	$48,000	-$8,000	D $7,720
12	38	Nov 20	63d	17.9%	$2.74	$3.05	$35,341	42%	$50,000	-$6,000	D $5,020
▶ 13	42 PROT	Jan 15	119d	9.2%	$6.35	$6.65	$40,794	49%	$42,000	-$14,000	D $12,220

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $2.84	$58,423/yr	$21,777/yr	SELF-FUNDING
CC at MID $54 0.7σ, B $2.08	$42,789/yr	$21,777/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($51, bid $2.84). 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).