Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$398,104/yr

TOTAL HEDGE (REPAIRED)

$85,650/yr

ANNUAL SAVINGS

$312,454/yr

ROLL CREDITS

$81,695

ADDITIONAL MAX LOSS

$-13,000

PORTFOLIO ACTION SUMMARY · 41 positions

5 · REPAIR PLAN7 · LEAPS-ONLY29 · 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) · 2 actionable · IC $490,588 · notional $1,468,365
AMZN → +200C −250P +215P −260C	$251.83	200	250	215	260	$267.92	$270.48	35	1.52x	14.6%	SAFE	5	$33,960	$125,915	REPAIR PLAN (46d)
IREN (Joint) → +25C −47P +35P −60C	$40.27	25	47	35	60	$44.00	$48.78	12	1.75x	13.1%	SAFE	20	$32,000	$80,550	REPAIR PLAN (102d)
GOOG (Joint) +310C −355C	$341.72	310	0	0	355	$392.50	$349.59	0	1.00x	0.0%	N/A	5	$41,250	$170,860	LEAPS-ONLY
IBIT +75C	$48.26	75	0	0	0	$70.58	$52.82	0	1.00x	0.0%	N/A	50	$22,328	$241,300	LEAPS-ONLY
MSTR (Joint) +180C −170C	$162.28	180	0	0	170	$233.00	$171.73	0	1.00x	0.0%	N/A	10	$53,000	$162,280	LEAPS-ONLY
BMNR (Joint) +23C −18P +25P	$26.74	23	18	25	0	$36.42	$24.90	0	1.00x	6.5%	OK	150	$201,300	$401,100	OK
COPX +65C −90P +68P −89C	$86.25	65	90	68	89	$93.40	$95.33	22	1.77x	21.2%	SAFE	20	$56,800	$172,500	OK
HOOD +65C −95P +80P −120C	$113.86	65	95	80	120	$114.95	$119.21	15	1.30x	29.7%	SAFE	10	$49,950	$113,860	OK
Main (...1299)14 fortress(es) · 2 actionable · IC $1,208,360 · notional $3,354,788
BMNR (Main) → +25C −18P +45P	$26.74	25	18	45	0	$65.83	$60.39	0	1.00x	-68.3%	ITM	50	$204,150	$133,700	REPAIR PLAN (102d)
IREN (Main) → +25C −47P +35P −60C	$40.27	25	47	35	60	$44.00	$48.78	12	1.75x	13.1%	SAFE	20	$32,000	$80,550	REPAIR PLAN (102d)
GLD +320C −450P +330P −413C	$379.07	320	450	330	413	$456.00	$470.21	120	1.88x	12.9%	SAFE	10	$136,000	$379,070	ROLL SOON (46d)
MU (Main) +880C −1010P +340P −1125C	$1062.82	880	1010	340	1125	$1028.60	$1042.96	670	5.51x	68.0%	SAFE	5	$74,300	$531,410	ROLL SOON (46d)
IGV +70C −115C	$109.59	70	0	0	115	$96.50	$87.95	0	1.00x	0.0%	N/A	12	$31,800	$131,508	LEAPS-ONLY
MARA (Main) +13C	$10.96	13	0	0	0	$16.75	$11.33	0	1.00x	0.0%	N/A	400	$150,000	$438,400	LEAPS-ONLY
BMNR (Main) +23C −18P +25P	$26.74	23	18	25	0	$53.26	$47.31	0	1.00x	6.5%	OK	75	$226,950	$200,550	OK
COIN (Main) +165C −240P +90P −210C	$188.05	165	240	90	210	$210.90	$213.72	150	9.93x	52.1%	SAFE	8	$13,440	$150,440	OK
COIN (Main) +500C −330P +300P −210C	$188.05	500	330	300	210	$563.00	$377.71	30	1.48x	-59.5%	ITM	25	$157,500	$470,125	OK
DELL +310C −400P +320P −585C	$556.90	310	400	320	585	$562.50	$570.15	80	1.32x	42.5%	SAFE	3	$75,750	$167,070	OK
ETHA +13C −16P +10P	$20.32	13	16	10	0	$17.33	$17.50	6	2.39x	50.8%	SAFE	50	$21,650	$101,600	OK
GLXY +38C −38P +18P −25C	$23.13	38	38	18	25	$39.71	$35.17	20	10.05x	24.3%	SAFE	125	$27,625	$289,125	OK
HIMS +10C −20P +5P −32C	$29.62	10	20	5	32	$17.47	$19.04	15	4.04x	83.1%	SAFE	15	$7,395	$44,430	OK
NVDA +215C −225P +200P −250C	$236.81	215	225	200	250	$264.80	$230.34	25	1.50x	15.5%	SAFE	10	$49,800	$236,810	OK
RetireInc (...7291)9 fortress(es) · 1 actionable · IC $180,200 · notional $1,087,191
APP → +460C −540P +185P −355C	$284.72	460	540	185	355	$588.00	$610.33	355	3.77x	35.0%	SAFE	1	$12,800	$28,472	REPAIR PLAN (46d)
AAPL +240C −330P +285P −340C	$333.47	240	330	285	340	$334.64	$337.02	45	1.48x	14.5%	SAFE	5	$47,320	$166,735	ROLL SOON (46d)
IREN (RetireInc) +50C −70P +23P −60C	$40.27	50	70	23	60	$63.43	$66.29	47	7.86x	42.9%	SAFE	20	$13,700	$80,550	ROLL SOON (46d)
MARA (RetireInc) +40C	$10.96	40	0	0	0	$41.04	$11.60	0	1.00x	0.0%	N/A	500	$52,000	$548,000	LEAPS-ONLY
CLSK +17C −17P +10P	$12.28	17	17	10	0	$20.74	$18.46	7	2.87x	18.5%	SAFE	25	$9,350	$30,689	OK
ENPH +45C −60P +20P	$33.19	45	60	20	0	$56.15	$59.07	40	6.48x	39.7%	SAFE	10	$7,300	$33,190	OK
MSTR (RetireInc) +125C −185P +55P −170C	$162.28	125	185	55	170	$161.00	$161.84	130	11.83x	66.1%	SAFE	4	$4,800	$64,912	OK
QCOM +190C −210P +100P −220C	$182.25	190	210	100	220	$224.00	$227.18	110	4.24x	45.1%	SAFE	5	$17,000	$91,125	OK
RKLB +115C −135P +45P −78C	$72.53	115	135	45	78	$141.55	$148.07	90	4.39x	38.0%	SAFE	6	$15,930	$43,518	OK
Neville (...0865)10 fortress(es) · nothing actionable · IC $441,025 · notional $2,303,268
CRWV +105C −120P +40P −100C	$88.17	105	120	40	100	$125.45	$128.37	80	4.91x	54.6%	SAFE	5	$10,225	$44,085	ROLL SOON (46d)
IREN (Neville) +45C −65P +21P −60C	$40.27	45	65	21	60	$56.50	$57.85	44	15.67x	47.9%	SAFE	20	$6,000	$80,550	ROLL SOON (46d)
MU (Neville) +970C −1110P +390P −1150C	$1062.82	970	1110	390	1150	$1220.00	$1229.52	720	3.88x	63.3%	SAFE	2	$50,000	$212,564	ROLL SOON (46d)
SNDK +1200C −1380P +810P −1830C	$1708.74	1200	1380	810	1830	$1620.00	$1622.32	570	2.36x	52.6%	SAFE	1	$42,000	$170,874	ROLL SOON (46d)
SPY +640C −780C	$773.15	640	0	0	780	$764.00	$703.72	0	1.00x	0.0%	N/A	12	$148,800	$927,780	LEAPS-ONLY
CRCL +45C −65P +40P −91C	$83.62	45	65	40	91	$87.00	$89.81	25	1.60x	52.2%	SAFE	5	$21,000	$41,810	OK
GOOG (Neville) +300C −345P +310P −360C	$341.72	300	345	310	360	$373.00	$346.92	35	1.48x	9.3%	OK	15	$109,500	$512,580	OK
GOOG (Neville) +340C −405P +360P −360C	$341.72	340	405	360	360	$398.00	$386.15	45	1.88x	-5.3%	ITM	5	$25,500	$170,860	OK
INTC +85C −100P +35P −133C	$117.41	85	100	35	133	$114.00	$115.51	65	3.24x	70.2%	SAFE	5	$14,500	$58,705	OK
SPCX +150C −195P +135P −195C	$166.92	150	195	135	195	$186.00	$190.12	60	3.22x	19.1%	SAFE	5	$13,500	$83,460	OK

IREN (Joint): HP 35P Roll-Down · exp Jan 15 '27, 102d

Stock: $40.27 HP: 13.1% OTM Current hedge: $26,123/yr Baseline (roll-fwd, savings vs this): $26,123/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $56,516/yr IV: HIGH OTM floor: 8% Stress: 22% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-11-05 INTRADAY (31d) 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	32	Jan 15	102d	20.5%	$2.48	$1.07	$2,140	$17,749	$37,752	$8,374	15	$6,000	9mo	1mo	1.94x	PASS
2	30	Jan 15	102d	25.5%	$1.87	$1.68	$3,360	$13,383	$30,775	$12,739	17	$10,000	9mo	2mo	2.06x	PASS

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $1.14	$25,650/yr	$17,749/yr	SELF-FUNDING
CC at MID $46 0.6σ, B $1.70	$38,250/yr	$17,749/yr	SELF-FUNDING
AT 22% DRAWDOWN (stock $40.27 → $31.40, hedge $37,752/yr)
CC at SS income stress-adjusted	$8,550/yr	$37,752/yr	DEFICIT $2,434/mo
CC at MID income stress-adjusted	$8,550/yr	$37,752/yr	DEFICIT $2,434/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $1.70) in NORMAL markets. Self-funds today.
In 22% drawdown, even MID is short ~$2,434/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

AMZN: HP 215P Roll-Down · exp Nov 20 '26, 46d

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: $251.83 HP: 14.6% OTM Current hedge: $7,697/yr Baseline (roll-fwd, savings vs this): $7,246/yr SS: $267.92 (unchanged) Account: Joint (...1782) Contracts: 5 (500 sh) CC income: $23,205/yr IV: MEDIUM OTM floor: 10% Stress: 11% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-10-29 AMC (24d) 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	205	Jan 15	102d	18.6%	$2.63	$-0.77	$-385	$4,706	$11,004	$2,541	45	$5,000	24mo	2mo	1.66x	PASS
2	210	Jan 15	102d	16.6%	$3.35	$-1.49	$-745	$5,994	$13,598	$1,252	40	$2,500	24mo	1mo	1.59x	PASS
3	180	Jan 15	102d	28.5%	$0.91	$0.95	$475	$1,628	$3,364	$5,618	70	$17,500	37mo	7mo	2.03x	FAIL
4	185	Jan 15	102d	26.5%	$1.12	$0.74	$370	$2,004	$4,330	$5,242	65	$15,000	34mo	6mo	1.96x	FAIL
5	190	Jan 15	102d	24.6%	$1.39	$0.47	$235	$2,487	$5,547	$4,759	60	$12,500	32mo	5mo	1.88x	FAIL
6	195	Jan 15	102d	22.6%	$1.70	$0.16	$80	$3,042	$6,978	$4,205	55	$10,000	29mo	4mo	1.81x	FAIL
7	200	Jan 15	102d	20.6%	$2.12	$-0.26	$-130	$3,793	$8,767	$3,453	50	$7,500	26mo	3mo	1.74x	FAIL

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $275, B $3.95	$22,219/yr	$4,706/yr	SELF-FUNDING
CC at MID $270 0.6σ, B $5.15	$28,969/yr	$4,706/yr	SELF-FUNDING
AT 11% DRAWDOWN (stock $251.83 → $223.50, hedge $11,004/yr)
CC at SS income stress-adjusted	$2,756/yr	$11,004/yr	DEFICIT $687/mo
CC at MID income stress-adjusted	$3,769/yr	$11,004/yr	DEFICIT $603/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($270, bid $5.15) in NORMAL markets. Self-funds today.
In 11% drawdown, even MID is short ~$603/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

Main (...1299)14 fortress(es) · 2 actionable · overview rows

IREN (Main): HP 35P Roll-Down · exp Jan 15 '27, 102d

Stock: $40.27 HP: 13.1% OTM Current hedge: $26,123/yr Baseline (roll-fwd, savings vs this): $26,123/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $56,516/yr IV: HIGH OTM floor: 8% Stress: 22% DD Payback gate: 12mo (1.0yr) 2 PASS ⚠ ER 2026-11-05 INTRADAY (31d) 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	32	Jan 15	102d	20.5%	$2.48	$1.07	$2,140	$17,749	$37,752	$8,374	15	$6,000	9mo	1mo	1.94x	PASS
2	30	Jan 15	102d	25.5%	$1.87	$1.68	$3,360	$13,383	$30,775	$12,739	17	$10,000	9mo	2mo	2.06x	PASS

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $49, B $1.14	$25,650/yr	$17,749/yr	SELF-FUNDING
CC at MID $46 0.6σ, B $1.70	$38,250/yr	$17,749/yr	SELF-FUNDING
AT 22% DRAWDOWN (stock $40.27 → $31.40, hedge $37,752/yr)
CC at SS income stress-adjusted	$8,550/yr	$37,752/yr	DEFICIT $2,434/mo
CC at MID income stress-adjusted	$8,550/yr	$37,752/yr	DEFICIT $2,434/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $1.70) in NORMAL markets. Self-funds today.
In 22% drawdown, even MID is short ~$2,434/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

BMNR (Main): HP 45P Roll-Down · exp Jan 15 '27, 102d

Stock: $26.74 HP: ITM Current hedge: $338,162/yr Baseline: current hedge (no same-strike quote) SS: $65.83 (unchanged) Account: Main (...1299) Contracts: 50 (5,000 sh) CC income: $81,172/yr IV: HIGH OTM floor: 8% Stress: 23% DD Payback gate: 12mo (1.0yr) 5 PASS ⚠ ER 2026-11-20 INTRADAY (46d) 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	102d	10.2%	$2.54	$15.56	$77,800	$45,446	$48,130	$292,716	-6	$-30,000	N/A	N/A	0.85x	PASS
2	22	Jan 15	102d	15.9%	$1.93	$16.17	$80,850	$34,532	$57,971	$303,630	-4	$-22,500	N/A	N/A	0.89x	PASS
3	21	Jan 15	102d	21.5%	$1.41	$16.69	$83,450	$25,228	$69,600	$312,934	-3	$-15,000	N/A	N/A	0.93x	PASS
4	20	Jan 15	102d	25.2%	$1.11	$16.99	$84,950	$19,860	$63,517	$318,301	-2	$-10,000	N/A	N/A	0.95x	PASS
5	19	Jan 15	102d	28.9%	$0.93	$17.17	$85,850	$16,640	$54,571	$321,522	-1	$-5,000	N/A	N/A	0.98x	PASS

POST-REPAIR SUSTAINABILITY CC chain Nov 06 (32d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS BELOW SS $60 — assignment locks a loss · $35, B $0.43	$24,188/yr	$45,446/yr	DEFICIT $1,772/mo
CC at MID $30 0.6σ, B $1.02	$57,375/yr	$45,446/yr	SELF-FUNDING
AT 23% DRAWDOWN (stock $26.74 → $20.56, hedge $48,130/yr)
CC at SS income stress-adjusted	$24,188/yr	$48,130/yr	DEFICIT $1,995/mo
CC at MID income stress-adjusted	$24,188/yr	$48,130/yr	DEFICIT $1,995/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($30, bid $1.02) in NORMAL markets. Self-funds today.
In 23% drawdown, even MID is short ~$1,995/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

APP: HP 185P Roll-Down · exp Nov 20 '26, 46d (no viable candidates)

Stock: $284.72 Current HP: 185P (46d, 35.0% OTM) Current hedge: $0/yr Gap: 0 Account: RetireInc (...7291) Contracts: 1 (100 sh) IV: MEDIUM

No HP candidates passed all filters. Reasons:

No candidate puts were priced for the roll-down DTE window. Try --hp-min-dte 60 or extend --hp-max-dte.

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).