Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$347,197/yr

TOTAL HEDGE (REPAIRED)

$55,967/yr

ANNUAL SAVINGS

$291,230/yr

ROLL CREDITS

$78,665

ADDITIONAL MAX LOSS

$-27,500

PORTFOLIO ACTION SUMMARY · 41 positions

2 · ROLL IMMEDIATELY2 · 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 $490,588 · notional $1,454,430
IREN (Joint) → +25C −47P +35P −60C	$41.62	25	47	35	60	$44.00	$50.51	12	1.75x	15.9%	SAFE	20	$32,000	$83,230	ROLL IMMEDIATELY (14d)
AMZN → +200C −250P +215P −260C	$251.51	200	250	215	260	$267.92	$271.07	35	1.52x	14.5%	SAFE	5	$33,960	$125,755	REPAIR PLAN (49d)
GOOG (Joint) +310C −355C	$339.94	310	0	0	355	$392.50	$350.55	0	1.00x	0.0%	N/A	5	$41,250	$169,970	LEAPS-ONLY
IBIT +75C	$47.66	75	0	0	0	$70.58	$52.65	0	1.00x	0.0%	N/A	50	$22,328	$238,300	LEAPS-ONLY
MSTR (Joint) +180C −170C	$158.82	180	0	0	170	$233.00	$170.86	0	1.00x	0.0%	N/A	10	$53,000	$158,825	LEAPS-ONLY
BMNR (Joint) +23C −18P +25P	$26.27	23	18	25	0	$36.42	$24.74	0	1.00x	4.8%	TIGHT	150	$201,300	$394,050	OK
COPX +65C −90P +68P	$85.86	65	90	68	0	$93.40	$96.44	22	1.77x	20.8%	SAFE	20	$56,800	$171,720	OK
HOOD +65C −95P +80P −125C	$112.58	65	95	80	125	$114.95	$119.33	15	1.30x	28.9%	SAFE	10	$49,950	$112,580	OK
Main (...1299)14 fortress(es) · 4 actionable · IC $1,208,360 · notional $3,347,321
IREN (Main) → +25C −47P +35P −60C	$41.62	25	47	35	60	$44.00	$50.51	12	1.75x	15.9%	SAFE	20	$32,000	$83,230	ROLL IMMEDIATELY (14d)
BMNR (Main) → +25C −18P +45P	$26.27	25	18	45	0	$65.83	$60.13	0	1.00x	-71.3%	ITM	50	$204,150	$131,350	REPAIR PLAN (105d)
IGV +70C −111C	$108.17	70	0	0	111	$96.50	$87.30	0	1.00x	0.0%	N/A	12	$31,800	$129,804	LEAPS-ONLY
MARA (Main) +13C	$11.26	13	0	0	0	$16.75	$11.09	0	1.00x	0.0%	N/A	400	$150,000	$450,400	LEAPS-ONLY
BMNR (Main) +23C −18P +25P	$26.27	23	18	25	0	$53.26	$47.20	0	1.00x	4.8%	TIGHT	75	$226,950	$197,025	OK
COIN (Main) +165C −240P +90P −215C	$183.01	165	240	90	215	$210.90	$214.53	150	9.93x	50.8%	SAFE	8	$13,440	$146,408	OK
COIN (Main) +500C −330P +300P −215C	$183.01	500	330	300	215	$563.00	$378.21	30	1.48x	-63.9%	ITM	25	$157,500	$457,525	OK
DELL +310C −400P +320P −592C	$564.18	310	400	320	592	$562.50	$570.23	80	1.32x	43.3%	SAFE	3	$75,750	$169,254	OK
ETHA +13C −16P +10P	$20.09	13	16	10	0	$17.33	$17.35	6	2.39x	50.2%	SAFE	50	$21,650	$100,450	OK
GLD +320C −450P +330P −413C	$379.62	320	450	330	413	$456.00	$470.07	120	1.88x	13.1%	SAFE	10	$136,000	$379,620	ROLL SOON (49d)
GLXY +38C −38P +18P −28C	$22.98	38	38	18	28	$39.71	$35.90	20	10.05x	23.8%	SAFE	125	$27,625	$287,250	OK
HIMS +10C −20P +5P	$28.92	10	20	5	0	$17.47	$18.27	15	4.04x	82.7%	SAFE	15	$7,395	$43,380	OK
MU (Main) +880C −1010P +340P −1125C	$1074.61	880	1010	340	1125	$1028.60	$1042.07	670	5.51x	68.4%	SAFE	5	$74,300	$537,305	ROLL SOON (49d)
NVDA +215C −225P +200P −250C	$234.32	215	225	200	250	$264.80	$229.60	25	1.50x	14.6%	SAFE	10	$49,800	$234,320	OK
Neville (...0865)10 fortress(es) · 1 actionable · IC $441,025 · notional $2,298,036
SPY +640C −780C	$769.48	640	0	0	780	$764.00	$703.45	0	1.00x	0.0%	N/A	12	$148,800	$923,370	LEAPS-ONLY
CRCL +45C −65P +40P −91C	$80.58	45	65	40	91	$87.00	$89.75	25	1.60x	50.4%	SAFE	5	$21,000	$40,290	OK
CRWV +105C −120P +40P −110C	$89.65	105	120	40	110	$125.45	$128.54	80	4.91x	55.4%	SAFE	5	$10,225	$44,825	ROLL SOON (49d)
GOOG (Neville) +300C −345P +310P −360C	$339.94	300	345	310	360	$373.00	$345.41	35	1.48x	8.8%	OK	15	$109,500	$509,910	OK
GOOG (Neville) +340C −405P +360P −360C	$339.94	340	405	360	360	$398.00	$385.38	45	1.88x	-5.9%	ITM	5	$25,500	$169,970	OK
INTC +85C −100P +35P −138C	$119.69	85	100	35	138	$114.00	$115.67	65	3.24x	70.8%	SAFE	5	$14,500	$59,845	OK
IREN (Neville) +45C −65P +21P −49C	$41.62	45	65	21	49	$56.50	$57.48	44	15.67x	49.5%	SAFE	20	$6,000	$83,230	ROLL SOON (49d)
MU (Neville) +970C −1110P +390P −1250C	$1074.61	970	1110	390	1250	$1220.00	$1233.14	720	3.88x	63.7%	SAFE	2	$50,000	$214,922	ROLL SOON (49d)
SNDK +1200C −1380P +810P −1875C	$1719.24	1200	1380	810	1875	$1620.00	$1625.44	570	2.36x	52.9%	SAFE	1	$42,000	$171,924	ROLL SOON (49d)
SPCX +150C −195P +135P −175C	$159.50	150	195	135	175	$186.00	$189.76	60	3.22x	15.4%	SAFE	5	$13,500	$79,750	OK
RetireInc (...7291)9 fortress(es) · 1 actionable · IC $180,200 · notional $1,105,818
MARA (RetireInc) +40C	$11.26	40	0	0	0	$41.04	$11.70	0	1.00x	0.0%	N/A	500	$52,000	$563,000	LEAPS-ONLY
AAPL +240C −330P +285P	$333.60	240	330	285	0	$334.64	$337.40	45	1.48x	14.6%	SAFE	5	$47,320	$166,800	ROLL SOON (49d)
APP +460C −540P +185P −295C	$270.49	460	540	185	295	$588.00	$610.19	355	3.77x	31.6%	SAFE	1	$12,800	$27,049	ROLL SOON (49d)
CLSK +17C −17P +10P	$12.68	17	17	10	0	$20.74	$18.17	7	2.87x	21.1%	SAFE	25	$9,350	$31,688	OK
ENPH +45C −60P +20P	$33.38	45	60	20	0	$56.15	$58.83	40	6.48x	40.1%	SAFE	10	$7,300	$33,380	OK
IREN (RetireInc) +50C −70P +23P −49C	$41.62	50	70	23	49	$63.43	$66.61	47	7.86x	44.7%	SAFE	20	$13,700	$83,230	ROLL SOON (49d)
MSTR (RetireInc) +125C −185P +55P −170C	$158.82	125	185	55	170	$161.00	$164.19	130	11.83x	65.4%	SAFE	4	$4,800	$63,530	OK
QCOM +190C −210P +100P −220C	$185.53	190	210	100	220	$224.00	$227.63	110	4.24x	46.1%	SAFE	5	$17,000	$92,765	OK
RKLB +115C −135P +45P −90C	$73.96	115	135	45	90	$141.55	$148.01	90	4.39x	39.2%	SAFE	6	$15,930	$44,376	OK

AMZN: HP 215P Roll-Down · exp Nov 20 '26, 49d

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: $251.51 HP: 14.5% OTM Current hedge: $8,268/yr Baseline (roll-fwd, savings vs this): $7,821/yr SS: $267.92 (unchanged) Account: Joint (...1782) Contracts: 5 (500 sh) CC income: $21,145/yr IV: MEDIUM OTM floor: 10% Stress: 11% DD Payback gate: 12mo (1.0yr) 4 PASS ⚠ ER 2026-10-29 AMC (27d) 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	105d	16.5%	$3.70	$-1.67	$-835	$6,431	$14,339	$1,390	40	$2,500	22mo	1mo	1.59x	PASS
2	205	Dec 18	77d	18.5%	$2.17	$-0.14	$-70	$5,143	$15,998	$2,678	45	$5,000	22mo	3mo	1.66x	PASS
3	200	Dec 18	77d	20.5%	$1.66	$0.37	$185	$3,934	$12,680	$3,887	50	$7,500	23mo	4mo	1.74x	PASS
4	205	Jan 15	105d	18.5%	$3.05	$-1.02	$-510	$5,301	$11,732	$2,520	45	$5,000	24mo	3mo	1.66x	PASS
5	180	Dec 18	77d	28.4%	$0.68	$1.35	$675	$1,612	$5,143	$6,210	70	$17,500	34mo	8mo	2.03x	FAIL
6	180	Jan 15	105d	28.4%	$1.03	$1.00	$500	$1,790	$3,772	$6,031	70	$17,500	35mo	8mo	2.03x	FAIL
7	185	Dec 18	77d	26.4%	$0.85	$1.18	$590	$2,015	$6,660	$5,807	65	$15,000	31mo	7mo	1.96x	FAIL
8	185	Jan 15	105d	26.4%	$1.27	$0.76	$380	$2,207	$4,884	$5,614	65	$15,000	32mo	7mo	1.96x	FAIL
9	190	Dec 18	77d	24.5%	$1.06	$0.97	$485	$2,512	$8,295	$5,309	60	$12,500	28mo	6mo	1.88x	FAIL
10	190	Jan 15	105d	24.5%	$1.55	$0.48	$240	$2,694	$6,083	$5,127	60	$12,500	29mo	6mo	1.88x	FAIL
11	195	Dec 18	77d	22.5%	$1.37	$0.66	$330	$3,247	$10,073	$4,574	55	$10,000	26mo	5mo	1.81x	FAIL
12	195	Jan 15	105d	22.5%	$1.96	$0.07	$35	$3,407	$7,387	$4,415	55	$10,000	27mo	5mo	1.81x	FAIL
13	200	Jan 15	105d	20.5%	$2.41	$-0.38	$-190	$4,189	$9,299	$3,633	50	$7,500	25mo	4mo	1.74x	FAIL
14	210	Dec 18	77d	16.5%	$2.81	$-0.78	$-390	$6,660	$19,554	$1,161	40	$2,500	26mo	1mo	1.59x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $275, B $3.90	$20,057/yr	$6,431/yr	SELF-FUNDING
CC at MID $270 0.6σ, B $5.25	$27,000/yr	$6,431/yr	SELF-FUNDING
AT 11% DRAWDOWN (stock $251.51 → $223.23, hedge $14,339/yr)
CC at SS income stress-adjusted	$2,366/yr	$14,339/yr	DEFICIT $998/mo
CC at MID income stress-adjusted	$3,446/yr	$14,339/yr	DEFICIT $908/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($270, bid $5.25) in NORMAL markets. Self-funds today.
In 11% drawdown, even MID is short ~$908/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Joint): HP 35P Maintenance Roll-Out · exp Oct 16 '26, 14d

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: $41.62 Current HP: 35P (14d, 15.9% OTM) Current hedge: $13,557/yr Current ML: $56,000 If HP lapses: ML $126,000 (+$70,000) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $63,857/yr Cost cap: 50% of CC = $31,929/yr IV: HIGH 4 qualifying ⚠ ER 2026-11-05 INTRADAY (34d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Jan 15 '27, 105d, 15.9% OTM) | Cost: $25,724/yr (40% of CC) | New ML: $56,000 = ML | Roll DEBIT $6,960 | Margin (TIMS): $1,167

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 37P (Jan 15 '27, 105d, 11.1% OTM) | Cost: $31,286/yr (49% of CC) | New ML: $52,000 ↓ $4,000 | Roll DEBIT $8,560 | Margin (TIMS): $1,095

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Jan 15	105d	15.9%	$3.40	$3.70	$25,724	40%	$56,000	=	D $6,960
2	35	Dec 18	77d	15.9%	$2.66	$2.80	$26,545	42%	$56,000	=	D $5,160
▶ 3	37 PROT	Jan 15	105d	11.1%	$4.25	$4.50	$31,286	49%	$52,000	-$4,000	D $8,560
4	36	Dec 18	77d	13.5%	$2.86	$3.30	$31,286	49%	$54,000	-$2,000	D $6,160

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $1.20	$24,686/yr	$25,724/yr	DEFICIT $87/mo
CC at MID $48 0.6σ, B $1.76	$36,206/yr	$25,724/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($48, bid $1.76). Self-funds in BOTH normal and 0% drawdown. At SS the position bleeds, so don't drift too far OTM.

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

BMNR (Main): HP 45P Roll-Down · exp Jan 15 '27, 105d

Stock: $26.27 HP: ITM Current hedge: $338,929/yr Baseline: current hedge (no same-strike quote) SS: $65.83 (unchanged) Account: Main (...1299) Contracts: 50 (5,000 sh) CC income: $80,143/yr IV: HIGH OTM floor: 8% Stress: 23% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-11-20 INTRADAY (49d) 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	105d	8.6%	$2.85	$15.90	$79,500	$49,536	$46,407	$289,393	-6	$-30,000	N/A	N/A	0.85x	PASS
2	22	Jan 15	105d	14.4%	$2.13	$16.62	$83,100	$37,021	$53,360	$301,907	-4	$-22,500	N/A	N/A	0.89x	PASS
3	21	Jan 15	105d	20.1%	$1.58	$17.17	$85,850	$27,462	$66,395	$311,467	-3	$-15,000	N/A	N/A	0.93x	PASS
4	20	Jan 15	105d	23.9%	$1.26	$17.49	$87,450	$21,900	$67,786	$317,029	-2	$-10,000	N/A	N/A	0.95x	PASS
5	19	Jan 15	105d	27.7%	$1.05	$17.70	$88,500	$18,250	$58,226	$320,679	-1	$-5,000	N/A	N/A	0.98x	PASS

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS BELOW SS $60 — assignment locks a loss · $35, B $0.36	$18,514/yr	$49,536/yr	DEFICIT $2,585/mo
CC at MID $30 0.6σ, B $0.98	$50,400/yr	$49,536/yr	SELF-FUNDING
AT 23% DRAWDOWN (stock $26.27 → $20.19, hedge $46,407/yr)
CC at SS income stress-adjusted	$18,514/yr	$46,407/yr	DEFICIT $2,324/mo
CC at MID income stress-adjusted	$18,514/yr	$46,407/yr	DEFICIT $2,324/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($30, bid $0.98) in NORMAL markets. Self-funds today.
In 23% drawdown, even MID is short ~$2,324/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

IREN (Main): HP 35P Maintenance Roll-Out · exp Oct 16 '26, 14d

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: $41.62 Current HP: 35P (14d, 15.9% OTM) Current hedge: $13,557/yr Current ML: $56,000 If HP lapses: ML $126,000 (+$70,000) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $63,857/yr Cost cap: 50% of CC = $31,929/yr IV: HIGH 4 qualifying ⚠ ER 2026-11-05 INTRADAY (34d) inside new HP tenor

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Jan 15 '27, 105d, 15.9% OTM) | Cost: $25,724/yr (40% of CC) | New ML: $56,000 = ML | Roll DEBIT $6,960 | Margin: n/a (RTH)

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Jan 15	105d	15.9%	$3.40	$3.70	$25,724	40%	$56,000	=	D $6,960
2	35	Dec 18	77d	15.9%	$2.66	$2.80	$26,545	42%	$56,000	=	D $5,160
▶ 3	37 PROT	Jan 15	105d	11.1%	$4.25	$4.50	$31,286	49%	$52,000	-$4,000	D $8,560
4	36	Dec 18	77d	13.5%	$2.86	$3.30	$31,286	49%	$54,000	-$2,000	D $6,160

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (35d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $51, B $1.20	$24,686/yr	$25,724/yr	DEFICIT $87/mo
CC at MID $48 0.6σ, B $1.76	$36,206/yr	$25,724/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($48, bid $1.76). Self-funds in BOTH normal and 0% drawdown. At SS the position bleeds, so don't drift too far OTM.

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).