| FORTRESS | STOCK | LC | SP | HP | SC | BE‑SS | CC‑SS | GAP | RM | HP OTM% | STATUS | CTRS | IC | NOTIONAL | URGENCY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| APP +460C −540P +185P |
$411.00 | 460 | 540 | 185 | 0 | $588.00 | $608.91 | 355 | 3.77x | 55.0% | SAFE | 1 | $12,800 | $41,100 | OK |
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).