GENERATED2026-10-02 03:51
FORTRESS REPAIRHP Roll-Down Analysis
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)
TOTAL HEDGE (CURRENT)
$381,404/yr
TOTAL HEDGE (REPAIRED)
$90,428/yr
ANNUAL SAVINGS
$290,976/yr
ROLL CREDITS
$68,450
ADDITIONAL MAX LOSS
$-15,500
PORTFOLIO ACTION SUMMARY · 41 positions
2 · REPAIR SOON2 · 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

FORTRESSSTOCKLCSPHPSC BE‑SS CC‑SS GAPRMHP OTM%STATUSCTRSICNOTIONALURGENCY
Joint (...1782)8 fortress(es) · 4 actionable · IC $490,588 · notional $1,451,995
IREN (Joint) →
+25C −47P +35P −42C
$40.02 2547 3542 $44.00 $49.96 121.75x 12.6% SAFE 20 $32,000$80,050 REPAIR SOON (15d)
GOOG (Joint)
+310C −355C
$335.72 3100 0355 $392.50 $348.93 01.00x 0.0% N/A 5 $41,250$167,860 LEAPS-ONLY
IBIT
+75C
$47.94 750 00 $70.58 $52.17 01.00x 0.0% N/A 50 $22,328$239,700 LEAPS-ONLY
MSTR (Joint)
+180C −170C
$160.76 1800 0170 $233.00 $171.71 01.00x 0.0% N/A 10 $53,000$160,760 LEAPS-ONLY
AMZN
+200C −250P +215P
$248.43 200250 2150 $267.92 $270.98 351.52x 13.5% SAFE 5 $33,960$124,215 ROLL SOON (50d)
BMNR (Joint)
+23C −18P +25P
$26.73 2318 250 $36.42 $24.37 01.00x 6.5% OK 150 $201,300$400,950 OK
COPX
+65C −90P +68P −90C
$83.48 6590 6890 $93.40 $96.30 221.77x 18.5% SAFE 20 $56,800$166,960 OK
HOOD
+65C −95P +80P
$111.50 6595 800 $114.95 $120.17 151.30x 28.3% SAFE 10 $49,950$111,500 OK
Main (...1299)14 fortress(es) · 4 actionable · IC $1,208,360 · notional $3,372,532
IREN (Main) →
+25C −47P +35P −42C
$40.02 2547 3542 $44.00 $49.96 121.75x 12.6% SAFE 20 $32,000$80,050 REPAIR SOON (15d)
BMNR (Main) →
+25C −18P +45P
$26.73 2518 450 $65.83 $60.07 01.00x -68.4% ITM 50 $204,150$133,650 REPAIR PLAN (106d)
IGV
+70C −111C
$108.44 700 0111 $96.50 $88.67 01.00x 0.0% N/A 12 $31,800$130,128 LEAPS-ONLY
MARA (Main)
+13C
$11.14 130 00 $16.75 $11.28 01.00x 0.0% N/A 400 $150,000$445,600 LEAPS-ONLY
BMNR (Main)
+23C −18P +25P
$26.73 2318 250 $53.26 $46.91 01.00x 6.5% OK 75 $226,950$200,475 OK
COIN (Main)
+165C −240P +90P −215C
$189.52 165240 90215 $210.90 $214.82 1509.93x 52.5% SAFE 8 $13,440$151,616 OK
COIN (Main)
+500C −330P +300P −215C
$189.52 500330 300215 $563.00 $378.38 301.48x -58.3% ITM 25 $157,500$473,800 OK
DELL
+310C −400P +320P
$540.86 310400 3200 $562.50 $572.07 801.32x 40.8% SAFE 3 $75,750$162,258 OK
ETHA
+13C −16P +10P
$20.35 1316 100 $17.33 $17.80 62.39x 50.9% SAFE 50 $21,650$101,750 OK
GLD
+320C −450P +330P −413C
$382.83 320450 330413 $456.00 $469.90 1201.88x 13.8% SAFE 10 $136,000$382,830 ROLL SOON (50d)
GLXY
+38C −38P +18P −26C
$23.00 3838 1826 $39.71 $35.03 2010.05x 23.9% SAFE 125 $27,625$287,500 OK
HIMS
+10C −20P +5P −32C
$29.24 1020 532 $17.47 $18.82 154.04x 82.9% SAFE 15 $7,395$43,860 OK
MU (Main)
+880C −1010P +340P −1125C
$1093.97 8801010 3401125 $1028.60 $1045.29 6705.51x 68.9% SAFE 5 $74,300$546,985 ROLL SOON (50d)
NVDA
+215C −225P +200P −240C
$232.03 215225 200240 $264.80 $230.46 251.50x 13.8% SAFE 10 $49,800$232,030 OK
RetireInc (...7291)9 fortress(es) · 2 actionable · IC $180,200 · notional $1,092,632
AAPL →
+240C −330P +285P −338C
$330.40 240330 285338 $334.64 $338.14 451.48x 13.7% SAFE 5 $47,320$165,200 REPAIR PLAN (50d)
MARA (RetireInc)
+40C
$11.14 400 00 $41.04 $11.33 01.00x 0.0% N/A 500 $52,000$557,000 LEAPS-ONLY
APP
+460C −540P +185P
$282.49 460540 1850 $588.00 $613.49 3553.77x 34.5% SAFE 1 $12,800$28,249 ROLL SOON (50d)
CLSK
+17C −17P +10P
$12.37 1717 100 $20.74 $18.00 72.87x 19.1% SAFE 25 $9,350$30,912 OK
ENPH
+45C −60P +20P
$32.78 4560 200 $56.15 $58.85 406.48x 39.0% SAFE 10 $7,300$32,780 OK
IREN (RetireInc)
+50C −70P +23P −42C
$40.02 5070 2342 $63.43 $67.31 477.86x 42.5% SAFE 20 $13,700$80,050 ROLL SOON (50d)
MSTR (RetireInc)
+125C −185P +55P −170C
$160.76 125185 55170 $161.00 $163.79 13011.83x 65.8% SAFE 4 $4,800$64,304 OK
QCOM
+190C −210P +100P −220C
$183.18 190210 100220 $224.00 $227.17 1104.24x 45.4% SAFE 5 $17,000$91,590 OK
RKLB
+115C −135P +45P −79C
$70.91 115135 4579 $141.55 $147.92 904.39x 36.5% SAFE 6 $15,930$42,546 OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $441,025 · notional $2,288,524
SPY
+640C
$765.33 6400 00 $764.00 $704.76 01.00x 0.0% N/A 12 $148,800$918,396 LEAPS-ONLY
CRCL
+45C −65P +40P
$83.33 4565 400 $87.00 $90.89 251.60x 52.0% SAFE 5 $21,000$41,665 OK
CRWV
+105C −120P +40P −89C
$88.11 105120 4089 $125.45 $128.34 804.91x 54.6% SAFE 5 $10,225$44,055 ROLL SOON (50d)
GOOG (Neville)
+300C −345P +310P −360C
$335.72 300345 310360 $373.00 $345.97 351.48x 7.7% OK 15 $109,500$503,580 OK
GOOG (Neville)
+340C −405P +360P −360C
$335.72 340405 360360 $398.00 $386.05 451.88x -7.2% ITM 5 $25,500$167,860 OK
INTC
+85C −100P +35P −138C
$120.43 85100 35138 $114.00 $115.76 653.24x 70.9% SAFE 5 $14,500$60,215 OK
IREN (Neville)
+45C −65P +21P −42C
$40.02 4565 2142 $56.50 $58.03 4415.67x 47.5% SAFE 20 $6,000$80,050 ROLL SOON (50d)
MU (Neville)
+970C −1110P +390P −1125C
$1093.97 9701110 3901125 $1220.00 $1232.86 7203.88x 64.4% SAFE 2 $50,000$218,794 ROLL SOON (50d)
SNDK
+1200C −1380P +810P −1800C
$1792.64 12001380 8101800 $1620.00 $1623.23 5702.36x 54.8% SAFE 1 $42,000$179,264 ROLL SOON (50d)
SPCX
+150C −195P +135P −155C
$149.29 150195 135155 $186.00 $189.73 603.22x 9.6% OK 5 $13,500$74,645 OK
Joint (...1782)8 fortress(es) · 4 actionable · overview rows

IREN (Joint): HP 35P Roll-Down · exp Oct 16 '26, 15d

Stock: $40.02 HP: 12.6% OTM Current hedge: $23,360/yr Baseline (roll-fwd, savings vs this): $27,547/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $55,338/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-11-05 INTRADAY (35d) inside new HP tenor
RECOMMENDED: Roll HP 35 → 32 (Jan 15, 106d) | Save $8,126/yr | Payback 9mo (0.74yr) hedge only, 1mo (0.09yr) w/income (gate: 12mo (1.0yr)) | HP moves to 20.0% OTM | RM 1.75x → 1.94x | Margin (TIMS): $1,489
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 32 Jan 15 106d 20.0% $2.82 $-2.42 $-4,840 $19,421 $39,599 $8,126 15 $6,000 9mo 1mo 1.94x PASS
2 30 Jan 15 106d 25.0% $2.15 $-1.75 $-3,500 $14,807 $28,580 $12,741 17 $10,000 9mo 2mo 2.06x PASS
POST-REPAIR SUSTAINABILITY CC chain Nov 06 (36d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $50, B $1.11 $22,200/yr $19,421/yr SELF-FUNDING
CC at MID $46 0.6σ, B $1.83 $36,600/yr $19,421/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $40.02 → $32.12, hedge $39,599/yr)
CC at SS income stress-adjusted $9,400/yr $39,599/yr DEFICIT $2,517/mo
CC at MID income stress-adjusted $9,400/yr $39,599/yr DEFICIT $2,517/mo
SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital
CC WRITING STRATEGY
WRITE CCs at MID ($46, bid $1.83) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$2,517/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.
Main (...1299)14 fortress(es) · 4 actionable · overview rows

IREN (Main): HP 35P Roll-Down · exp Oct 16 '26, 15d

Stock: $40.02 HP: 12.6% OTM Current hedge: $23,360/yr Baseline (roll-fwd, savings vs this): $27,547/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $55,338/yr IV: HIGH OTM floor: 8% Stress: 20% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-11-05 INTRADAY (35d) inside new HP tenor
RECOMMENDED: Roll HP 35 → 32 (Jan 15, 106d) | Save $8,126/yr | Payback 9mo (0.74yr) hedge only, 1mo (0.09yr) w/income (gate: 12mo (1.0yr)) | HP moves to 20.0% OTM | RM 1.75x → 1.94x | Margin: n/a (RTH)
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 32 Jan 15 106d 20.0% $2.82 $-2.42 $-4,840 $19,421 $39,599 $8,126 15 $6,000 9mo 1mo 1.94x PASS
2 30 Jan 15 106d 25.0% $2.15 $-1.75 $-3,500 $14,807 $28,580 $12,741 17 $10,000 9mo 2mo 2.06x PASS
POST-REPAIR SUSTAINABILITY CC chain Nov 06 (36d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $50, B $1.11 $22,200/yr $19,421/yr SELF-FUNDING
CC at MID $46 0.6σ, B $1.83 $36,600/yr $19,421/yr SELF-FUNDING
AT 20% DRAWDOWN (stock $40.02 → $32.12, hedge $39,599/yr)
CC at SS income stress-adjusted $9,400/yr $39,599/yr DEFICIT $2,517/mo
CC at MID income stress-adjusted $9,400/yr $39,599/yr DEFICIT $2,517/mo
SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital
CC WRITING STRATEGY
WRITE CCs at MID ($46, bid $1.83) in NORMAL markets. Self-funds today.
In 20% drawdown, even MID is short ~$2,517/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

BMNR (Main): HP 45P Roll-Down · exp Jan 15 '27, 106d

Stock: $26.73 HP: ITM Current hedge: $328,844/yr Baseline: current hedge (no same-strike quote) SS: $65.83 (unchanged) Account: Main (...1299) Contracts: 50 (5,000 sh) CC income: $69,665/yr IV: HIGH OTM floor: 8% Stress: 23% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-11-20 INTRADAY (50d) inside new HP tenor
RECOMMENDED: Roll HP 45 → 24 (Jan 15, 106d) | Save $282,358/yr | Payback N/A hedge only, N/A w/income (gate: 12mo (1.0yr)) | HP moves to 10.2% OTM | RM 1.00x → 0.85x | Margin (TIMS): $352
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 24 Jan 15 106d 10.2% $2.70 $15.70 $78,500 $46,486 $49,585 $282,358 -6 $-30,000 N/A N/A 0.85x PASS
2 22 Jan 15 106d 15.8% $2.10 $16.30 $81,500 $36,156 $59,054 $292,689 -4 $-22,500 N/A N/A 0.89x PASS
3 21 Jan 15 106d 21.4% $1.60 $16.80 $84,000 $27,547 $70,245 $301,297 -3 $-15,000 N/A N/A 0.93x PASS
4 20 Jan 15 106d 25.2% $1.29 $17.11 $85,550 $22,210 $64,564 $306,634 -2 $-10,000 N/A N/A 0.95x PASS
5 19 Jan 15 106d 28.9% $1.04 $17.36 $86,800 $17,906 $55,955 $310,939 -1 $-5,000 N/A N/A 0.98x PASS
POST-REPAIR SUSTAINABILITY CC chain Nov 06 (36d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS BELOW SS $60 — assignment locks a loss · $35, B $0.51 $25,500/yr $46,486/yr DEFICIT $1,749/mo
CC at MID $31 0.7σ, B $1.06 $53,000/yr $46,486/yr SELF-FUNDING
AT 23% DRAWDOWN (stock $26.73 → $20.48, hedge $49,585/yr)
CC at SS income stress-adjusted $25,500/yr $49,585/yr DEFICIT $2,007/mo
CC at MID income stress-adjusted $25,500/yr $49,585/yr DEFICIT $2,007/mo
SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital
CC WRITING STRATEGY
WRITE CCs at MID ($31, bid $1.06) in NORMAL markets. Self-funds today.
In 23% drawdown, even MID is short ~$2,007/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.
RetireInc (...7291)9 fortress(es) · 2 actionable · overview rows

AAPL: HP 285P Roll-Down · exp Nov 20 '26, 50d

RELAXED PASS — no candidate met the standard constraints. Widened gap-mult 2.0x → 8.0x; payback gate 1.0yr → 3.0yr to surface the best available option below. Treat as a guideline breach, not a clean repair.
Stock: $330.40 HP: 13.7% OTM Current hedge: $5,840/yr Baseline (roll-fwd, savings vs this): $6,271/yr SS: $334.64 (unchanged) Account: RetireInc (...7291) Contracts: 5 (500 sh) CC income: $29,160/yr IV: MEDIUM OTM floor: 10% Stress: 10% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-10-29 AMC (28d) inside new HP tenor
RECOMMENDED: Roll HP 285 → 280 (Dec 18, 78d) | Save $1,170/yr | Payback 26mo (2.14yr) hedge only, 1mo (0.08yr) w/income (gate: 12mo (1.0yr)) | HP moves to 15.3% OTM | RM 1.48x → 1.53x | Margin (TIMS): $5,945
#NEW HPEXPIRYDTEOTM%ASK ROLL CR/SHROLL TOTALHEDGE/YRSTRESS/YRSAVED/YR GAPML+PAYBACKPB+INCNEW RM
1 280 Dec 18 78d 15.3% $2.18 $-0.74 $-370 $5,101 $16,729 $1,170 50 $2,500 26mo 1mo 1.53x PASS
2 275 Dec 18 78d 16.8% $1.77 $-0.33 $-165 $4,141 $13,804 $2,129 55 $5,000 28mo 2mo 1.58x PASS
3 270 Dec 18 78d 18.3% $1.46 $-0.02 $-10 $3,416 $11,348 $2,854 60 $7,500 32mo 3mo 1.63x PASS
4 265 Dec 18 78d 19.8% $1.20 $0.24 $120 $2,808 $9,359 $3,463 65 $10,000 35mo 4mo 1.69x PASS
5 275 Jan 15 106d 16.8% $2.66 $-1.22 $-610 $4,580 $10,158 $1,691 55 $5,000 35mo 2mo 1.58x PASS
6 235 Dec 18 78d 28.9% $0.41 $1.03 $515 $959 $2,293 $5,311 95 $25,000 56mo 9mo 2.00x FAIL
7 240 Dec 18 78d 27.4% $0.46 $0.98 $490 $1,076 $2,808 $5,194 90 $22,500 52mo 8mo 1.95x FAIL
8 235 Jan 15 106d 28.9% $0.70 $0.74 $370 $1,205 $1,687 $5,065 95 $25,000 59mo 9mo 2.00x FAIL
9 245 Dec 18 78d 25.8% $0.55 $0.89 $445 $1,287 $3,416 $4,984 85 $20,000 48mo 7mo 1.90x FAIL
10 240 Jan 15 106d 27.4% $0.75 $0.69 $345 $1,291 $2,066 $4,979 90 $22,500 54mo 8mo 1.95x FAIL
11 250 Dec 18 78d 24.3% $0.66 $0.78 $390 $1,544 $5,101 $4,726 80 $17,500 44mo 6mo 1.85x FAIL
12 245 Jan 15 106d 25.8% $0.97 $0.47 $235 $1,670 $2,514 $4,600 85 $20,000 52mo 7mo 1.90x FAIL
13 250 Jan 15 106d 24.3% $1.04 $0.40 $200 $1,791 $3,753 $4,480 80 $17,500 47mo 6mo 1.85x FAIL
14 255 Dec 18 78d 22.8% $0.81 $0.63 $315 $1,895 $6,271 $4,375 75 $15,000 41mo 5mo 1.79x FAIL
15 255 Jan 15 106d 22.8% $1.31 $0.13 $65 $2,255 $4,614 $4,015 75 $15,000 45mo 5mo 1.79x FAIL
POST-REPAIR SUSTAINABILITY CC chain Nov 06 (36d)
SCENARIO CC INCOME HEDGE COST VERDICT
CC at SS $340, B $6.90 $34,500/yr $5,101/yr SELF-FUNDING
CC at MID $350 0.7σ, B $3.55 $17,750/yr $5,101/yr SELF-FUNDING
AT 10% DRAWDOWN (stock $330.40 → $297.36, hedge $16,729/yr)
CC at SS income stress-adjusted $1,850/yr $16,729/yr DEFICIT $1,240/mo
CC at MID income stress-adjusted $850/yr $16,729/yr DEFICIT $1,323/mo
SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital
CC WRITING STRATEGY
WRITE CCs at MID ($350, bid $3.55) in NORMAL markets. Self-funds today.
In 10% drawdown, even MID is short ~$1,323/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).