Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

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

TOTAL HEDGE (CURRENT)

$397,607/yr

TOTAL HEDGE (REPAIRED)

$88,012/yr

ANNUAL SAVINGS

$309,595/yr

ROLL CREDITS

$80,670

ADDITIONAL MAX LOSS

$-15,500

PORTFOLIO ACTION SUMMARY · 41 positions

4 · 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) · 2 actionable · IC $490,588 · notional $1,477,800
AMZN → +200C −250P +215P −260C	$252.83	200	250	215	260	$267.92	$270.60	35	1.52x	15.0%	SAFE	5	$33,960	$126,415	REPAIR PLAN (46d)
IREN (Joint) → +25C −47P +35P −60C	$40.53	25	47	35	60	$44.00	$49.22	12	1.75x	13.7%	SAFE	20	$32,000	$81,070	REPAIR PLAN (102d)
GOOG (Joint) +310C −355C	$343.69	310	0	0	355	$392.50	$349.49	0	1.00x	0.0%	N/A	5	$41,250	$171,845	LEAPS-ONLY
IBIT +75C	$48.53	75	0	0	0	$70.58	$52.98	0	1.00x	0.0%	N/A	50	$22,328	$242,650	LEAPS-ONLY
MSTR (Joint) +180C −170C	$165.43	180	0	0	170	$233.00	$173.71	0	1.00x	0.0%	N/A	10	$53,000	$165,430	LEAPS-ONLY
BMNR (Joint) +23C −18P +25P	$26.87	23	18	25	0	$36.42	$24.70	0	1.00x	7.0%	OK	150	$201,300	$403,050	OK
COPX +65C −90P +68P −89C	$86.59	65	90	68	89	$93.40	$95.27	22	1.77x	21.5%	SAFE	20	$56,800	$173,180	OK
HOOD +65C −95P +80P −120C	$114.16	65	95	80	120	$114.95	$119.86	15	1.30x	29.9%	SAFE	10	$49,950	$114,160	OK
Main (...1299)14 fortress(es) · 2 actionable · IC $1,208,360 · notional $3,363,572
BMNR (Main) → +25C −18P +45P	$26.87	25	18	45	0	$65.83	$60.29	0	1.00x	-67.5%	ITM	50	$204,150	$134,350	REPAIR PLAN (102d)
IREN (Main) → +25C −47P +35P −60C	$40.53	25	47	35	60	$44.00	$49.22	12	1.75x	13.7%	SAFE	20	$32,000	$81,070	REPAIR PLAN (102d)
GLD +320C −450P +330P −413C	$379.59	320	450	330	413	$456.00	$470.17	120	1.88x	13.1%	SAFE	10	$136,000	$379,590	ROLL SOON (46d)
MU (Main) +880C −1010P +340P −1125C	$1062.88	880	1010	340	1125	$1028.60	$1041.05	670	5.51x	68.0%	SAFE	5	$74,300	$531,440	ROLL SOON (46d)
IGV +70C −115C	$109.74	70	0	0	115	$96.50	$88.37	0	1.00x	0.0%	N/A	12	$31,800	$131,688	LEAPS-ONLY
MARA (Main) +13C	$11.10	13	0	0	0	$16.75	$11.43	0	1.00x	0.0%	N/A	400	$150,000	$444,000	LEAPS-ONLY
BMNR (Main) +23C −18P +25P	$26.87	23	18	25	0	$53.26	$47.19	0	1.00x	7.0%	OK	75	$226,950	$201,525	OK
COIN (Main) +165C −240P +90P −210C	$188.56	165	240	90	210	$210.90	$213.95	150	9.93x	52.3%	SAFE	8	$13,440	$150,848	OK
COIN (Main) +500C −330P +300P −210C	$188.56	500	330	300	210	$563.00	$380.89	30	1.48x	-59.1%	ITM	25	$157,500	$471,400	OK
DELL +310C −400P +320P −585C	$550.97	310	400	320	585	$562.50	$570.54	80	1.32x	41.9%	SAFE	3	$75,750	$165,291	OK
ETHA +13C −16P +10P	$20.43	13	16	10	0	$17.33	$17.83	6	2.39x	51.1%	SAFE	50	$21,650	$102,150	OK
GLXY +38C −38P +18P −25C	$22.87	38	38	18	25	$39.71	$34.68	20	10.05x	23.5%	SAFE	125	$27,625	$285,875	OK
HIMS +10C −20P +5P −32C	$29.93	10	20	5	32	$17.47	$19.04	15	4.04x	83.3%	SAFE	15	$7,395	$44,895	OK
NVDA +215C −225P +200P −250C	$239.45	215	225	200	250	$264.80	$229.87	25	1.50x	16.5%	SAFE	10	$49,800	$239,450	OK
Neville (...0865)10 fortress(es) · nothing actionable · IC $441,025 · notional $2,309,798
CRWV +105C −120P +40P −100C	$87.36	105	120	40	100	$125.45	$128.27	80	4.91x	54.2%	SAFE	5	$10,225	$43,680	ROLL SOON (46d)
IREN (Neville) +45C −65P +21P −60C	$40.53	45	65	21	60	$56.50	$57.94	44	15.67x	48.2%	SAFE	20	$6,000	$81,070	ROLL SOON (46d)
MU (Neville) +970C −1110P +390P −1150C	$1062.88	970	1110	390	1150	$1220.00	$1227.54	720	3.88x	63.3%	SAFE	2	$50,000	$212,576	ROLL SOON (46d)
SNDK +1200C −1380P +810P −1830C	$1702.58	1200	1380	810	1830	$1620.00	$1623.69	570	2.36x	52.4%	SAFE	1	$42,000	$170,258	ROLL SOON (46d)
SPY +640C −780C	$774.82	640	0	0	780	$764.00	$703.17	0	1.00x	0.0%	N/A	12	$148,800	$929,784	LEAPS-ONLY
CRCL +45C −65P +40P −91C	$83.67	45	65	40	91	$87.00	$90.35	25	1.60x	52.2%	SAFE	5	$21,000	$41,835	OK
GOOG (Neville) +300C −345P +310P −360C	$343.69	300	345	310	360	$373.00	$348.23	35	1.48x	9.8%	OK	15	$109,500	$515,535	OK
GOOG (Neville) +340C −405P +360P −360C	$343.69	340	405	360	360	$398.00	$385.92	45	1.88x	-4.7%	ITM	5	$25,500	$171,845	OK
INTC +85C −100P +35P −133C	$116.29	85	100	35	133	$114.00	$115.35	65	3.24x	69.9%	SAFE	5	$14,500	$58,145	OK
SPCX +150C −195P +135P −195C	$170.14	150	195	135	195	$186.00	$189.63	60	3.22x	20.7%	SAFE	5	$13,500	$85,070	OK
RetireInc (...7291)9 fortress(es) · nothing actionable · IC $180,200 · notional $1,095,296
AAPL +240C −330P +285P −340C	$332.89	240	330	285	340	$334.64	$337.33	45	1.48x	14.4%	SAFE	5	$47,320	$166,445	ROLL SOON (46d)
APP +460C −540P +185P −300C	$283.16	460	540	185	300	$588.00	$613.57	355	3.77x	34.7%	SAFE	1	$12,800	$28,316	ROLL SOON (46d)
IREN (RetireInc) +50C −70P +23P −60C	$40.53	50	70	23	60	$63.43	$66.58	47	7.86x	43.3%	SAFE	20	$13,700	$81,070	ROLL SOON (46d)
MARA (RetireInc) +40C	$11.10	40	0	0	0	$41.04	$11.77	0	1.00x	0.0%	N/A	500	$52,000	$555,000	LEAPS-ONLY
CLSK +17C −17P +10P	$12.43	17	17	10	0	$20.74	$18.39	7	2.87x	19.5%	SAFE	25	$9,350	$31,062	OK
ENPH +45C −60P +20P	$33.35	45	60	20	0	$56.15	$58.30	40	6.48x	40.0%	SAFE	10	$7,300	$33,350	OK
MSTR (RetireInc) +125C −185P +55P −170C	$165.43	125	185	55	170	$161.00	$163.06	130	11.83x	66.8%	SAFE	4	$4,800	$66,172	OK
QCOM +190C −210P +100P −220C	$180.45	190	210	100	220	$224.00	$227.02	110	4.24x	44.6%	SAFE	5	$17,000	$90,225	OK
RKLB +115C −135P +45P −78C	$72.76	115	135	45	78	$141.55	$148.24	90	4.39x	38.2%	SAFE	6	$15,930	$43,656	OK

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: $252.83 HP: 15.0% OTM Current hedge: $7,736/yr Baseline (roll-fwd, savings vs this): $7,425/yr SS: $267.92 (unchanged) Account: Joint (...1782) Contracts: 5 (500 sh) CC income: $12,605/yr IV: MEDIUM OTM floor: 10% Stress: 11% DD Payback gate: 12mo (1.0yr) 1 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	210	Jan 15	102d	16.9%	$3.35	$-1.62	$-810	$5,994	$13,688	$1,431	40	$2,500	21mo	2mo	1.59x	PASS
2	180	Jan 15	102d	28.8%	$0.99	$0.74	$370	$1,771	$3,525	$5,654	70	$17,500	37mo	12mo	2.03x	FAIL
3	185	Jan 15	102d	26.8%	$1.19	$0.54	$270	$2,129	$4,366	$5,296	65	$15,000	34mo	10mo	1.96x	FAIL
4	190	Jan 15	102d	24.9%	$1.43	$0.30	$150	$2,559	$5,547	$4,867	60	$12,500	31mo	9mo	1.88x	FAIL
5	195	Jan 15	102d	22.9%	$1.77	$-0.04	$-20	$3,167	$6,978	$4,258	55	$10,000	28mo	7mo	1.81x	FAIL
6	200	Jan 15	102d	20.9%	$2.19	$-0.46	$-230	$3,918	$8,857	$3,507	50	$7,500	26mo	6mo	1.74x	FAIL
7	205	Jan 15	102d	18.9%	$2.77	$-1.04	$-520	$4,956	$11,093	$2,469	45	$5,000	24mo	4mo	1.66x	FAIL

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $275, B $4.05	$22,781/yr	$5,994/yr	SELF-FUNDING
CC at MID $270 0.6σ, B $5.30	$29,812/yr	$5,994/yr	SELF-FUNDING
AT 11% DRAWDOWN (stock $252.83 → $224.18, hedge $13,688/yr)
CC at SS income stress-adjusted	$2,756/yr	$13,688/yr	DEFICIT $911/mo
CC at MID income stress-adjusted	$3,656/yr	$13,688/yr	DEFICIT $836/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($270, bid $5.30) in NORMAL markets. Self-funds today.
In 11% drawdown, even MID is short ~$836/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

Stock: $40.53 HP: 13.7% OTM Current hedge: $25,407/yr Baseline (roll-fwd, savings vs this): $25,407/yr SS: $44.00 (unchanged) Account: Joint (...1782) Contracts: 20 (2,000 sh) CC income: $59,689/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	21.1%	$2.43	$0.92	$1,840	$17,391	$38,182	$8,016	15	$6,000	9mo	1mo	1.94x	PASS
2	30	Jan 15	102d	26.0%	$1.83	$1.52	$3,040	$13,097	$30,059	$12,310	17	$10,000	10mo	2mo	2.06x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $1.00	$22,500/yr	$17,391/yr	SELF-FUNDING
CC at MID $46 0.6σ, B $1.68	$37,800/yr	$17,391/yr	SELF-FUNDING
AT 22% DRAWDOWN (stock $40.53 → $31.69, hedge $38,182/yr)
CC at SS income stress-adjusted	$7,650/yr	$38,182/yr	DEFICIT $2,544/mo
CC at MID income stress-adjusted	$7,650/yr	$38,182/yr	DEFICIT $2,544/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $1.68) in NORMAL markets. Self-funds today.
In 22% drawdown, even MID is short ~$2,544/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

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

Stock: $26.87 HP: ITM Current hedge: $339,056/yr Baseline: current hedge (no same-strike quote) SS: $65.83 (unchanged) Account: Main (...1299) Contracts: 50 (5,000 sh) CC income: $84,967/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	10.7%	$2.64	$15.56	$77,800	$47,235	$50,456	$291,821	-6	$-30,000	N/A	N/A	0.85x	PASS
2	22	Jan 15	102d	16.3%	$1.90	$16.30	$81,500	$33,995	$59,402	$305,061	-4	$-22,500	N/A	N/A	0.89x	PASS
3	21	Jan 15	102d	21.8%	$1.42	$16.78	$83,900	$25,407	$70,137	$313,650	-3	$-15,000	N/A	N/A	0.93x	PASS
4	20	Jan 15	102d	25.6%	$1.09	$17.11	$85,550	$19,502	$62,623	$319,554	-2	$-10,000	N/A	N/A	0.95x	PASS
5	19	Jan 15	102d	29.3%	$0.92	$17.28	$86,400	$16,461	$52,245	$322,596	-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 $0.24	$13,500/yr	$47,235/yr	DEFICIT $2,811/mo
CC at MID $30 0.6σ, B $0.97	$54,562/yr	$47,235/yr	SELF-FUNDING
AT 23% DRAWDOWN (stock $26.87 → $20.75, hedge $50,456/yr)
CC at SS income stress-adjusted	$13,500/yr	$50,456/yr	DEFICIT $3,080/mo
CC at MID income stress-adjusted	$13,500/yr	$50,456/yr	DEFICIT $3,080/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($30, bid $0.97) in NORMAL markets. Self-funds today.
In 23% drawdown, even MID is short ~$3,080/mo — tighten CCs above MID (closer to ATM) OR plan to inject capital.

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

Stock: $40.53 HP: 13.7% OTM Current hedge: $25,407/yr Baseline (roll-fwd, savings vs this): $25,407/yr SS: $44.00 (unchanged) Account: Main (...1299) Contracts: 20 (2,000 sh) CC income: $59,689/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	21.1%	$2.43	$0.92	$1,840	$17,391	$38,182	$8,016	15	$6,000	9mo	1mo	1.94x	PASS
2	30	Jan 15	102d	26.0%	$1.83	$1.52	$3,040	$13,097	$30,059	$12,310	17	$10,000	10mo	2mo	2.06x	PASS

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

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $50, B $1.00	$22,500/yr	$17,391/yr	SELF-FUNDING
CC at MID $46 0.6σ, B $1.68	$37,800/yr	$17,391/yr	SELF-FUNDING
AT 22% DRAWDOWN (stock $40.53 → $31.69, hedge $38,182/yr)
CC at SS income stress-adjusted	$7,650/yr	$38,182/yr	DEFICIT $2,544/mo
CC at MID income stress-adjusted	$7,650/yr	$38,182/yr	DEFICIT $2,544/mo

SUSTAINABLE (NORMAL) Stress requires MID+ CC or capital

CC WRITING STRATEGY

WRITE CCs at MID ($46, bid $1.68) in NORMAL markets. Self-funds today.
In 22% drawdown, even MID is short ~$2,544/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).