Notes

{"occ":"SNAP261002P00004500","american_base":0.05954918799393965,"american_stress":0.022254775886102182,"stress_net":-0.009745224113897817,"N":500};500stepCRR,u=exp(sigma*sqrt(dt)),d=1/u,p=(exp((r-q)dt)-d)/(u-d),rollbackmax(intrinsic,discountedexpectation). Sameforecast/lowvol/r0–6/q0–4andclockscenariosasBSM. Discretecashdividendsanddeliverablesunverified; sensitivitynotprovedbound. https://runway.adityaperswal.workers.dev/data/option-chain/SNAP?feed=indicative

[{"symbol":"NFLX","kind":"vertical_inversion","cheap":"NFLX260918C00266000","rich":"NFLX260918C00300000","gap":827.2},{"symbol":"NFLX","kind":"vertical_inversion","cheap":"NFLX260918P00300000","rich":"NFLX260918P00266000","gap":185.13},{"symbol":"SNDK","kind":"vertical_inversion","cheap":"SNDK260918P03500000","rich":"SNDK260918P03490000","gap":41.819999999999936},{"symbol":"SNDK","kind":"vertical_inversion","cheap":"SNDK261016P03440000","rich":"SNDK261016P03430000","gap":28.549999999999955},{"symbol":"SNDK","kind":"vertical_inversion","cheap":"SNDK260918P03340000","rich":"SNDK260918P03330000","gap":23.49000000000001}];per-symbolchainURLsappendunderlyingafteroption-chain/. Notexecutable; distributionandadjustedcontracteffectsnotresolved. https://runway.adityaperswal.workers.dev/data/option-chain/?feed=indicative

[{"symbol":"SNDK","kind":"calendar","cheap":"SNDK261016P03440000","rich":"SNDK260918P03440000","gap":33.039999999999964},{"symbol":"SNDK","kind":"calendar","cheap":"SNDK261016P03460000","rich":"SNDK260918P03460000","gap":31.04000000000019},{"symbol":"MU","kind":"calendar","cheap":"MU261016P02390000","rich":"MU260918P02390000","gap":24.37000000000012},{"symbol":"SNDK","kind":"calendar","cheap":"SNDK261016P03130000","rich":"SNDK260918P03130000","gap":24.189999999999827},{"symbol":"SNDK","kind":"calendar","cheap":"SNDK261016P02940000","rich":"SNDK260918P02940000","gap":22.75}];per-symbolchainURLsappendunderlyingafteroption-chain/. Notexecutable; distributionandadjustedcontracteffectsnotresolved. https://runway.adityaperswal.workers.dev/data/option-chain/?feed=indicative

[{"symbol":"NFLX","kind":"conditional_parity","call":"NFLX260918C01280000","put":"NFLX260918P01280000","quote_interval":[-131.62,-118.36999999999999],"assumed_interval":[-1201.8699627447736,-1198.8076336106483],"gap":1067.1876336106484},{"symbol":"NFLX","kind":"conditional_parity","call":"NFLX260918C01480000","put":"NFLX260918P01480000","quote_interval":[-332.29,-325.45],"assumed_interval":[-1401.8699627447736,-1398.347888862312],"gap":1066.057888862312},{"symbol":"NFLX","kind":"conditional_parity","call":"NFLX260918C01120000","put":"NFLX260918P01120000","quote_interval":[26.78,34.629999999999995],"assumed_interval":[-1041.8699627447736,-1039.1754294093173],"gap":1065.9554294093173},{"symbol":"NFLX","kind":"conditional_parity","call":"NFLX260918C01220000","put":"NFLX260918P01220000","quote_interval":[-73.90000000000002,-62.519999999999996],"assumed_interval":[-1141.8699627447736,-1138.945557035149],"gap":1065.045557035149},{"symbol":"NFLX","kind":"conditional_parity","call":"NFLX260918C01160000","put":"NFLX260918P01160000","quote_interval":[-14.359999999999985,-3.799999999999983],"assumed_interval":[-1081.8699627447736,-1079.08348045965],"gap":1064.72348045965}];per-symbolchainURLsappendunderlyingafteroption-chain/. Notexecutable; distributionandadjustedcontracteffectsnotresolved. https://runway.adityaperswal.workers.dev/data/option-chain/?feed=indicative

{"vertical_inversion":162,"calendar":392,"conditional_parity":1645};63newrootsSep8-Oct16 chains readSep6, lastquotesgenerallySep4. Verticaliflessvaluablebid>morevaluableask+.002, calendarsifnearbid>farask+.002; Americanparityquoteinterval[Cbid-Pask,Cask-Pbid] versusassumed[S*exp(-.04T)-K,S-K*exp(-.06T)]. Dividendyield0–4%envelopeunverified, unsuitableforBITOdistributionrate; quotesmodified/asynchrony/deliverablesunverified. Threshold.002is0.20percontractscreenallowance. Flagsdonotcertifyarbitrage, andonecheaplongcannotlocktwosidedpayoff. https://runway.adityaperswal.workers.dev/data/option-chain/EWJ?feed=indicative

{"occ":"MARA260918P00008500","paths":100000,"S":11.3,"K":8.5,"ask":0.02,"initial_bid":0.01,"ATR14":0.9792857142857144,"T_sessions":9,"calibrated_iv":0.7862248142703991,"physical_sigma":0.967679009821838,"mark_sigma":0.8769519120461186,"horizon_sessions":5,"bid_after_1ATR_drop":0.0036183838693783542,"bid_after_2ATR_drop":0.07432507382879472,"win_pct":22.054000000000002,"avg_win_usd":12.720053979364906,"avg_loss_usd":2.0085952272721226,"mean_pnl":1.239661068759608,"median_pnl":-2.2,"p5_pnl":-2.2,"zero_bid_pct":59.107,"model_quarterkelly":0.024364304404105648,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/MARA?feed=indicative

{"occ":"MARA260918P00008500","paths":100000,"S":11.3,"K":8.5,"ask":0.02,"initial_bid":0.01,"ATR14":0.9792857142857144,"T_sessions":9,"calibrated_iv":0.7862248142703991,"physical_sigma":0.967679009821838,"mark_sigma":0.7862248142703991,"horizon_sessions":5,"bid_after_1ATR_drop":0.0036183838693783542,"bid_after_2ATR_drop":0.07432507382879472,"win_pct":17.302999999999997,"avg_win_usd":13.29694948419996,"avg_loss_usd":2.053190209810092,"mean_pnl":0.6028444614444676,"median_pnl":-2.2,"p5_pnl":-2.2,"zero_bid_pct":67.284,"model_quarterkelly":0.011334262459235377,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/MARA?feed=indicative

{"occ":"MARA260918P00008500","paths":100000,"S":11.3,"K":8.5,"ask":0.02,"initial_bid":0.01,"ATR14":0.9792857142857144,"T_sessions":9,"calibrated_iv":0.7862248142703991,"physical_sigma":0.7422022478478021,"mark_sigma":0.8769519120461186,"horizon_sessions":5,"bid_after_1ATR_drop":0.0036183838693783542,"bid_after_2ATR_drop":0.07432507382879472,"win_pct":14.735000000000001,"avg_win_usd":6.704534976209675,"avg_loss_usd":2.003398204393689,"mean_pnl":-0.7202842502317833,"median_pnl":-2.2,"p5_pnl":-2.2,"zero_bid_pct":63.244,"model_quarterkelly":0,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/MARA?feed=indicative

{"occ":"MARA260918P00008500","paths":100000,"S":11.3,"K":8.5,"ask":0.02,"initial_bid":0.01,"ATR14":0.9792857142857144,"T_sessions":9,"calibrated_iv":0.7862248142703991,"physical_sigma":0.7422022478478021,"mark_sigma":0.7862248142703991,"horizon_sessions":5,"bid_after_1ATR_drop":0.0036183838693783542,"bid_after_2ATR_drop":0.07432507382879472,"win_pct":10.2,"avg_win_usd":6.886765743179687,"avg_loss_usd":2.0640986189459745,"mean_pnl":-1.151110454009157,"median_pnl":-2.2,"p5_pnl":-2.2,"zero_bid_pct":73.24300000000001,"model_quarterkelly":0,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/MARA?feed=indicative

{"occ":"SNAP261002P00004500","paths":100000,"S":5.48,"K":4.5,"ask":0.03,"initial_bid":0.01,"ATR14":0.3164285714285714,"T_sessions":19,"calibrated_iv":0.4893596364875999,"physical_sigma":0.6545699775371281,"mark_sigma":0.571964807012364,"horizon_sessions":5,"bid_after_1ATR_drop":0.020377172423846856,"bid_after_2ATR_drop":0.07166744953476024,"win_pct":32.458999999999996,"avg_win_usd":6.195695404611524,"avg_loss_usd":2.501218592602698,"mean_pnl":0.3217127217530661,"median_pnl":-1.9925781533511948,"p5_pnl":-3.2,"zero_bid_pct":30.861,"model_quarterkelly":0.012981299948735842,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/SNAP?feed=indicative

{"occ":"SNAP261002P00004500","paths":100000,"S":5.48,"K":4.5,"ask":0.03,"initial_bid":0.01,"ATR14":0.3164285714285714,"T_sessions":19,"calibrated_iv":0.4893596364875999,"physical_sigma":0.6545699775371281,"mark_sigma":0.4893596364875999,"horizon_sessions":5,"bid_after_1ATR_drop":0.020377172423846856,"bid_after_2ATR_drop":0.07166744953476024,"win_pct":21.095,"avg_win_usd":6.034927245515185,"avg_loss_usd":2.7371103046672487,"mean_pnl":-0.8866489834562645,"median_pnl":-3.1307018692973814,"p5_pnl":-3.2,"zero_bid_pct":48.657000000000004,"model_quarterkelly":0,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/SNAP?feed=indicative

{"occ":"SNAP261002P00004500","paths":100000,"S":5.48,"K":4.5,"ask":0.03,"initial_bid":0.01,"ATR14":0.3164285714285714,"T_sessions":19,"calibrated_iv":0.4893596364875999,"physical_sigma":0.504449174610631,"mark_sigma":0.571964807012364,"horizon_sessions":5,"bid_after_1ATR_drop":0.020377172423846856,"bid_after_2ATR_drop":0.07166744953476024,"win_pct":26.840999999999998,"avg_win_usd":3.9041218182271065,"avg_loss_usd":2.3832011700229176,"mean_pnl":-0.6956208067467291,"median_pnl":-2.054072693707197,"p5_pnl":-3.2,"zero_bid_pct":26.618000000000002,"model_quarterkelly":0,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/SNAP?feed=indicative

{"occ":"SNAP261002P00004500","paths":100000,"S":5.48,"K":4.5,"ask":0.03,"initial_bid":0.01,"ATR14":0.3164285714285714,"T_sessions":19,"calibrated_iv":0.4893596364875999,"physical_sigma":0.504449174610631,"mark_sigma":0.4893596364875999,"horizon_sessions":5,"bid_after_1ATR_drop":0.020377172423846856,"bid_after_2ATR_drop":0.07166744953476024,"win_pct":14.183000000000002,"avg_win_usd":3.6547779897994794,"avg_loss_usd":2.7093116934643517,"mean_pnl":-1.8066928536870424,"median_pnl":-3.1686010206588735,"p5_pnl":-3.2,"zero_bid_pct":49.177,"model_quarterkelly":0,"validated_size":0}; hypotheticalFridaymark,notpossibleweekendentry. 100000GBMterminaldraws zeroexpectedunderlyingreturn,seed2026090602; bid=max(BSM-halfobservedspread,0),0.20fees; nostop/targetexecutionmodeled. Conditionalmodelnotempiricaloptionedge. https://runway.adityaperswal.workers.dev/data/option-chain/SNAP?feed=indicative

{"symbol":"ETH/USD","period":"test","n":248,"weeks":36,"weekday_intercept":0.0013106161337373523,"weekend_beta":-0.0006758014561463182,"weekend_ratio":0.48436354570181955,"week_bootstrap_p025":0.20632331154258035,"week_bootstrap_p975":1.0164594015473536,"mean_return":-0.0007243721734758448,"std_return":0.03348337967363788,"p01_return":-0.09074287001714706,"p99_return":0.0925823854742015,"kurtosis":5.06758965699546}; y=logreturn², intercept+weekenddummy OLS; 5000weekblockbootstrap seed20260906; UTCbarsnotNYclose. Completepagination. Hourlypilottruncatedat960BTChours withno2026holdout, discarded; dailyresolutionchosenexplicitly. https://runway.adityaperswal.workers.dev/data/crypto-bars?symbols=ETH/USD&timeframe=1Day&start=2025-01-01&end=2026-09-05

{"symbol":"ETH/USD","period":"train","n":364,"weeks":53,"weekday_intercept":0.0017054627201820033,"weekend_beta":-0.0006260347551431358,"weekend_ratio":0.6329238113886613,"week_bootstrap_p025":0.37043594619578807,"week_bootstrap_p975":0.9513437636061626,"mean_return":-0.0003361834523054876,"std_return":0.03912400560107962,"p01_return":-0.10075255088951296,"p99_return":0.11387328917736597,"kurtosis":3.4509875075406975}; y=logreturn², intercept+weekenddummy OLS; 5000weekblockbootstrap seed20260906; UTCbarsnotNYclose. Completepagination. Hourlypilottruncatedat960BTChours withno2026holdout, discarded; dailyresolutionchosenexplicitly. https://runway.adityaperswal.workers.dev/data/crypto-bars?symbols=ETH/USD&timeframe=1Day&start=2025-01-01&end=2026-09-05

{"symbol":"BTC/USD","period":"test","n":248,"weeks":36,"weekday_intercept":0.000741876964462894,"weekend_beta":-0.0004968678688754125,"weekend_ratio":0.3302556991574254,"week_bootstrap_p025":0.1542054880647594,"week_bootstrap_p975":0.6998413209394269,"mean_return":-0.00036877300353739046,"std_return":0.02453404988277448,"p01_return":-0.060758581530120634,"p99_return":0.06557924441500851,"kurtosis":7.435305907558953}; y=logreturn², intercept+weekenddummy OLS; 5000weekblockbootstrap seed20260906; UTCbarsnotNYclose. Completepagination. Hourlypilottruncatedat960BTChours withno2026holdout, discarded; dailyresolutionchosenexplicitly. https://runway.adityaperswal.workers.dev/data/crypto-bars?symbols=BTC/USD&timeframe=1Day&start=2025-01-01&end=2026-09-05

{"symbol":"BTC/USD","period":"train","n":364,"weeks":53,"weekday_intercept":0.0005458706383798681,"weekend_beta":-0.00023099274043945643,"weekend_ratio":0.5768361142760164,"week_bootstrap_p025":0.3063233626118473,"week_bootstrap_p975":0.9308498719500699,"mean_return":-0.0002104994399271193,"std_return":0.02193513719708828,"p01_return":-0.05824614596605843,"p99_return":0.058445303691096795,"kurtosis":2.3105893534241138}; y=logreturn², intercept+weekenddummy OLS; 5000weekblockbootstrap seed20260906; UTCbarsnotNYclose. Completepagination. Hourlypilottruncatedat960BTChours withno2026holdout, discarded; dailyresolutionchosenexplicitly. https://runway.adityaperswal.workers.dev/data/crypto-bars?symbols=BTC/USD&timeframe=1Day&start=2025-01-01&end=2026-09-05

{"symbol": "NFLX", "occ": "NFLX260911P00071000", "expiry": "2026-09-11", "type": "P", "K": 71.0, "S": 78.25, "bid": 0.01, "ask": 0.02, "bs": 270, "as": 302, "quote_time": "2026-09-04T19:59:59.714951598Z", "iv": 0.3461, "delta": -0.0123, "T": 0.0191780821917808, "sessions": 4, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.0479974534258165, "fair_session": 0.0270242366701396, "stress": 0.0043514013783778, "affordable": true, "net_base": 0.0050242366701396, "net_stress": -0.0176485986216221, "spread_pct": 50.0}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "NFLX", "occ": "NFLX260911P00072000", "expiry": "2026-09-11", "type": "P", "K": 72.0, "S": 78.25, "bid": 0.02, "ask": 0.03, "bs": 392, "as": 73, "quote_time": "2026-09-04T19:59:59.890329665Z", "iv": 0.3267, "delta": -0.0204, "T": 0.0191780821917808, "sessions": 4, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.0928775563125077, "fair_session": 0.0580498795483794, "stress": 0.0132921554560194, "affordable": true, "net_base": 0.0260498795483794, "net_stress": -0.0187078445439805, "spread_pct": 33.33333333333333}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "NFLX", "occ": "NFLX260918P00068000", "expiry": "2026-09-18", "type": "P", "K": 68.0, "S": 78.25, "bid": 0.02, "ask": 0.04, "bs": 110, "as": 109, "quote_time": "2026-09-04T19:59:59.911468101Z", "iv": 0.3565, "delta": -0.0156, "T": 0.0383561643835616, "sessions": 9, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.059105464438669, "fair_session": 0.0477286753549968, "stress": 0.0082791163057951, "affordable": true, "net_base": 0.0057286753549968, "net_stress": -0.0337208836942048, "spread_pct": 50.0}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "NFLX", "occ": "NFLX260925P00066000", "expiry": "2026-09-25", "type": "P", "K": 66.0, "S": 78.25, "bid": 0.03, "ask": 0.06, "bs": 115, "as": 92, "quote_time": "2026-09-04T19:59:59.943823172Z", "iv": 0.361, "delta": -0.0182, "T": 0.0575342465753424, "sessions": 14, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.0739131495167741, "fair_session": 0.0667395136273152, "stress": 0.0121883017759357, "affordable": true, "net_base": 0.0047395136273152, "net_stress": -0.0498116982240642, "spread_pct": 50.0}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "NFLX", "occ": "NFLX260918P00070000", "expiry": "2026-09-18", "type": "P", "K": 70.0, "S": 78.25, "bid": 0.06, "ask": 0.08, "bs": 173, "as": 77, "quote_time": "2026-09-04T19:59:59.911468101Z", "iv": 0.3376, "delta": -0.0347, "T": 0.0383561643835616, "sessions": 9, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.1553866461101041, "fair_session": 0.132460357502282, "stress": 0.036450920402413, "affordable": true, "net_base": 0.050460357502282, "net_stress": -0.0455490795975869, "spread_pct": 25.000000000000004}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "NFLX", "occ": "NFLX260925P00067000", "expiry": "2026-09-25", "type": "P", "K": 67.0, "S": 78.25, "bid": 0.04, "ask": 0.07, "bs": 295, "as": 15, "quote_time": "2026-09-04T19:59:59.731345908Z", "iv": 0.3446, "delta": -0.0227, "T": 0.0575342465753424, "sessions": 14, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.1129092059887599, "fair_session": 0.1031348631359208, "stress": 0.0229724504231132, "affordable": true, "net_base": 0.0311348631359207, "net_stress": -0.0490275495768867, "spread_pct": 42.85714285714286}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "NFLX", "occ": "NFLX261002P00065000", "expiry": "2026-10-02", "type": "P", "K": 65.0, "S": 78.25, "bid": 0.04, "ask": 0.08, "bs": 329, "as": 292, "quote_time": "2026-09-04T19:59:59.715631914Z", "iv": 0.3505, "delta": -0.021, "T": 0.0767123287671232, "sessions": 19, "forecast": 0.3803026990155099, "stress_vol": 0.301523254496671, "fair_calendar": 0.1095661858890384, "fair_session": 0.1045925644102943, "stress": 0.021848231769209, "affordable": true, "net_base": 0.0225925644102942, "net_stress": -0.0601517682307909, "spread_pct": 50.0}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/NFLX?feed=indicative

{"symbol": "DELL", "occ": "DELL260918C00770000", "expiry": "2026-09-18", "type": "C", "K": 770.0, "S": 523.65, "bid": 0.01, "ask": 0.05, "bs": 124, "as": 16, "quote_time": "2026-09-04T19:59:58.370452166Z", "iv": 0.6806, "delta": 0.0016, "T": 0.0383561643835616, "sessions": 9, "forecast": 0.8178150285279522, "stress_vol": 0.6217825125367772, "fair_calendar": 0.2776525240783973, "fair_session": 0.2050550647283593, "stress": 0.0097147611502395, "affordable": true, "net_base": 0.1530550647283593, "net_stress": -0.0422852388497604, "spread_pct": 80.0}; researchonly; spread/fee/currentfeed/optionholdoutgatesnotestablished. https://runway.adityaperswal.workers.dev/data/option-chain/DELL?feed=indicative