Notes

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":50,"c_bid":0.18,"c_ask":0.33,"p_bid":5.42,"p_ask":7.27,"pair_lo":-7.09,"pair_hi":-5.09,"naive_residual":-2.316653511,"div_residual":0.2894225238,"model_exercise_residual":0.203347084,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":-6.1760754398,"iv_call":0.4262,"iv_put":1.2523} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":49,"c_bid":0.27,"c_ask":0.63,"p_bid":4.28,"p_ask":6.07,"pair_lo":-5.8,"pair_hi":-3.65,"naive_residual":-1.9501204408,"div_residual":0.655955594,"model_exercise_residual":0.3214074325,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":-5.0595481616,"iv_call":0.4389,"iv_put":1.0913} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":48,"c_bid":0.53,"c_ask":0.82,"p_bid":3.28,"p_ask":6.11,"pair_lo":-5.58,"pair_hi":-2.46,"naive_residual":-2.2435873706,"div_residual":0.3624886643,"model_exercise_residual":0.4831509368,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":-3.8993377275,"iv_call":0.431,"iv_put":1.141} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":47,"c_bid":0.78,"c_ask":1.18,"p_bid":3.28,"p_ask":4.36,"pair_lo":-3.58,"pair_hi":-2.1,"naive_residual":-2.0620543004,"div_residual":0.5440217345,"model_exercise_residual":0.6915368708,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":-2.6924848636,"iv_call":0.4202,"iv_put":1.0533} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":46,"c_bid":1.32,"c_ask":1.72,"p_bid":2.52,"p_ask":3.63,"pair_lo":-2.31,"pair_hi":-0.8,"naive_residual":-1.7755212302,"div_residual":0.8305548047,"model_exercise_residual":0.9430392843,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":-1.4425155204,"iv_call":0.4496,"iv_put":0.9922} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":45,"c_bid":1.48,"c_ask":2.83,"p_bid":1.98,"p_ask":2.58,"pair_lo":-1.1,"pair_hi":0.85,"naive_residual":-1.3439881599,"div_residual":1.2620878749,"model_exercise_residual":1.2254510859,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":-0.1616367891,"iv_call":0.4752,"iv_put":0.8972} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":44,"c_bid":2.23,"c_ask":3.08,"p_bid":1.38,"p_ask":1.82,"pair_lo":0.41,"pair_hi":1.7,"naive_residual":-1.1624550897,"div_residual":1.4436209452,"model_exercise_residual":1.5191159209,"naive_outside":true,"american_bound_violation":false,"both_positive_bid":true,"model_diff":1.1304949758,"iv_call":0.4142,"iv_put":0.8146} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":43,"c_bid":3.15,"c_ask":4.47,"p_bid":1.02,"p_ask":1.37,"pair_lo":1.78,"pair_hi":3.45,"naive_residual":-0.6009220195,"div_residual":2.0051540154,"model_exercise_residual":1.8020037398,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":true,"model_diff":2.4118497244,"iv_call":0.5842,"iv_put":0.7989} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":42,"c_bid":3.82,"c_ask":4.83,"p_bid":0.58,"p_ask":0.73,"pair_lo":3.09,"pair_hi":4.25,"naive_residual":-0.5443889493,"div_residual":2.0616870856,"model_exercise_residual":2.0510248872,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":true,"model_diff":3.6593378016,"iv_call":0.4293,"iv_put":0.6952} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":41,"c_bid":4.66,"c_ask":6.04,"p_bid":0.28,"p_ask":0.52,"pair_lo":4.14,"pair_hi":5.76,"naive_residual":-0.2628558791,"div_residual":2.3432201558,"model_exercise_residual":2.2518419431,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":true,"model_diff":4.8586217873,"iv_call":0.5296,"iv_put":0.6677} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":40,"c_bid":5.55,"c_ask":6.6,"p_bid":0.27,"p_ask":0.37,"pair_lo":5.18,"pair_hi":6.33,"naive_residual":-0.4563228088,"div_residual":2.149753226,"model_exercise_residual":2.3989855877,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":true,"model_diff":6.0042323617,"iv_call":null,"iv_put":0.7106} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":39,"c_bid":5.86,"c_ask":8.56,"p_bid":0.17,"p_ask":0.27,"pair_lo":5.59,"pair_hi":8.39,"naive_residual":-0.2197897386,"div_residual":2.3862862963,"model_exercise_residual":2.4954764503,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":true,"model_diff":7.099190154,"iv_call":0.5227,"iv_put":0.7232} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":38,"c_bid":7.42,"c_ask":9.75,"p_bid":0.07,"p_ask":0.27,"pair_lo":7.15,"pair_hi":9.68,"naive_residual":0.2067433316,"div_residual":2.8128193665,"model_exercise_residual":2.5528177287,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":true,"model_diff":8.1549983622,"iv_call":0.9649,"iv_put":0.7595} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":37,"c_bid":8.97,"c_ask":10.48,"p_bid":0,"p_ask":0.27,"pair_lo":8.7,"pair_hi":10.48,"naive_residual":0.3832764018,"div_residual":2.9893524367,"model_exercise_residual":2.5827696181,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":9.1834171814,"iv_call":1.1569,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":36,"c_bid":9.94,"c_ask":11.67,"p_bid":0,"p_ask":0.13,"pair_lo":9.81,"pair_hi":11.67,"naive_residual":0.5348094721,"div_residual":3.1408855069,"model_exercise_residual":2.5966496731,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":10.1957641661,"iv_call":1.3134,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":35,"c_bid":10.81,"c_ask":11.71,"p_bid":0,"p_ask":0.12,"pair_lo":10.69,"pair_hi":11.71,"naive_residual":-0.0036574577,"div_residual":2.6024185771,"model_exercise_residual":2.6022842151,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":11.1998656379,"iv_call":0.91,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":34,"c_bid":10.19,"c_ask":14.39,"p_bid":0,"p_ask":0.13,"pair_lo":10.06,"pair_hi":14.39,"naive_residual":0.0228756125,"div_residual":2.6289516474,"model_exercise_residual":2.6042696063,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":12.2003179589,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":33,"c_bid":12.03,"c_ask":14.58,"p_bid":0,"p_ask":0.13,"pair_lo":11.9,"pair_hi":14.58,"naive_residual":0.0394086827,"div_residual":2.6454847176,"model_exercise_residual":2.6048819047,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":13.1993971872,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":32,"c_bid":13.22,"c_ask":15.28,"p_bid":0,"p_ask":0.13,"pair_lo":13.09,"pair_hi":15.28,"naive_residual":-0.0140582471,"div_residual":2.5920177878,"model_exercise_residual":2.6050569678,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":14.19803918,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":31,"c_bid":14.01,"c_ask":16.219,"p_bid":0,"p_ask":0.08,"pair_lo":13.93,"pair_hi":16.219,"naive_residual":-0.1230251768,"div_residual":2.483050858,"model_exercise_residual":2.6051179896,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":15.1965671315,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":30,"c_bid":15.39,"c_ask":17.34,"p_bid":0,"p_ask":0.08,"pair_lo":15.31,"pair_hi":17.34,"naive_residual":0.1290078934,"div_residual":2.7350839282,"model_exercise_residual":2.6051537324,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":16.1950698041,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":29,"c_bid":16.09,"c_ask":19.54,"p_bid":0,"p_ask":0.08,"pair_lo":16.01,"pair_hi":19.54,"naive_residual":0.5805409636,"div_residual":3.1866169985,"model_exercise_residual":2.6051850627,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":17.1935680642,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

Sep4 indicative paired quotes collectedSep7. Last underlying trade46.15, not executableNBBO. Conservative American band S-PV(D)-K to S-Kexp(-rT),D2.61,td13.729167/365,r.04. No-div European residual and dividend-adjusted residual at pairmid; flags compare fulloptionbidaskinterval. Exercise differential from escrowCRR sigma.408179926. {"expiry":260918,"strike":25,"c_bid":20.68,"c_ask":21.53,"p_bid":0,"p_ask":0.07,"pair_lo":20.61,"pair_hi":21.53,"naive_residual":-0.1183267555,"div_residual":2.4877492793,"model_exercise_residual":2.6053076959,"naive_outside":false,"american_bound_violation":false,"both_positive_bid":false,"model_diff":21.1875584166,"iv_call":null,"iv_put":null} https://runway.adityaperswal.workers.dev/data/option-chain/FRO?feed=indicative

{"paths":100000,"sessions":3,"base_mean_pct":0.7397757351820362,"base_win_pct":53.15800000000001,"base_p05_pct":-8.820990389015565,"hazard_scenarios":[{"assumed_hazard":0,"assumed_gap":-0.2,"mean_pct":0.7397757351820362,"loss_over_8_5099_on_49_14_pct":0.086},{"assumed_hazard":0.05,"assumed_gap":-0.2,"mean_pct":-0.28588743175385595,"loss_over_8_5099_on_49_14_pct":3.58},{"assumed_hazard":0.1,"assumed_gap":-0.2,"mean_pct":-1.2659953748116766,"loss_over_8_5099_on_49_14_pct":7.013999999999999},{"assumed_hazard":0.2,"assumed_gap":-0.2,"mean_pct":-3.27381762275786,"loss_over_8_5099_on_49_14_pct":13.746}]} Additional bootstrap/endpoint proxy: {"target_return_pct":6.431560071727435,"stop_return_pct":-9.623430962343082,"target_first_endpoint_pct":20.93,"stop_first_endpoint_pct":4.0489999999999995,"neither_pct":75.021,"mean_daily_bootstrap_ci_pct":[-0.19208643104167383,0.877429851364237],"sample":170} CalculatedSep7; historical descriptive research only, no executableedge. Supersedes preliminary results.json: persistent desired-position signals defer missing-print execution; final_results.json authoritative. Fees5bp+slippage10bp eachside, stress25bp. Eventinvalidprints are nevereligibletrades. Alpaca IEX /data/stock-bars TLX Nov14 2024–Sep4 2026; research/analyze_final.py; issuer dates observation7445

{"train_n":173,"test_n":170,"coefficients":[0.00031831977124069263,-0.004495444714182464,-0.09196509801724123],"train_corr_momentum":-0.022892537019247483,"test_r2":-0.022681091120185792,"test_daily_mean_pct":0.3372414463736277,"test_quantiles_pct":{"0.01":-8.089339673522634,"0.05":-4.995600353605751,"0.5":0.12337953204047958,"0.95":6.376485609278781,"0.99":9.700740453494012}} Additional bootstrap/endpoint proxy: {"target_return_pct":6.431560071727435,"stop_return_pct":-9.623430962343082,"target_first_endpoint_pct":20.93,"stop_first_endpoint_pct":4.0489999999999995,"neither_pct":75.021,"mean_daily_bootstrap_ci_pct":[-0.19208643104167383,0.877429851364237],"sample":170} CalculatedSep7; historical descriptive research only, no executableedge. Supersedes preliminary results.json: persistent desired-position signals defer missing-print execution; final_results.json authoritative. Fees5bp+slippage10bp eachside, stress25bp. Eventinvalidprints are nevereligibletrades. Alpaca IEX /data/stock-bars TLX Nov14 2024–Sep4 2026; research/analyze_final.py; issuer dates observation7445