Notes

Measured Sep9; fixed managed2021–2025,6bp/side,60third-Friday windows perETF. Lagged200SMA,5sessionmomentum andRV20. High/lowRV threshold is development median; no filter selected from holdout. Pre2023/post2023 descriptive. {"n":24,"mean_pct":-0.6914794887827204,"p":0.20833333333333334,"win_pct":1.926011155132192,"loss_pct":1.3802928161287498,"quarterkelly":0} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Retrieved2026Sep9; claimdate2026-08-06 periodQ2 ended2026Jun30. {"revenue_m":1679.976,"prior_revenue_m":1512.054,"operating_income_m":142.788,"prior_operating_income_m":146.341,"revenue_growth_pct":11.105555753961172,"op_margin_pct":8.499407134387635,"prior_op_margin_pct":9.678291912854963,"comps_pct":6.2,"restaurant_margin_pct":16.4,"margin_change_bps":-66,"commodity_inflation_pct":7,"labour_inflation_pct":3.9,"OCF_m":180.1,"capex_m":98.7,"OCF_less_capex_m":81.39999999999999,"dividends_m":49.3,"buybacks_m":42.6,"cash_after_capex_div_buyback_m":-10.500000000000007}. Sponsor primary. Q2 sales grow while operating income falls. Simple cash arithmetic not company FCFdefinition; no inference of future deficit from onequarter. https://www.sec.gov/Archives/edgar/data/1289460/000110465926091980/txrh-20260805xex99d1.htm

Measured Sep9; fixed managed2021–2025,6bp/side,60third-Friday windows perETF. Lagged200SMA,5sessionmomentum andRV20. High/lowRV threshold is development median; no filter selected from holdout. Pre2023/post2023 descriptive. {"n":25,"mean_pct":-0.007533616426085175,"p":0.44,"win_pct":1.735591626110581,"loss_pct":1.3771320212763227,"quarterkelly":0} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9; fixed managed2021–2025,6bp/side,60third-Friday windows perETF. Lagged200SMA,5sessionmomentum andRV20. High/lowRV threshold is development median; no filter selected from holdout. Pre2023/post2023 descriptive. {"n":35,"mean_pct":-0.383170417448676,"p":0.34285714285714286,"win_pct":1.1891925600140443,"loss_pct":1.2035337100379213,"quarterkelly":0} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9; fixed managed2021–2025,6bp/side,60third-Friday windows perETF. Lagged200SMA,5sessionmomentum andRV20. High/lowRV threshold is development median; no filter selected from holdout. Pre2023/post2023 descriptive. {"n":16,"mean_pct":-0.2943514611221094,"p":0.375,"win_pct":2.064841937686773,"loss_pct":1.7098675004074395,"quarterkelly":0} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9; fixed managed2021–2025,6bp/side,60third-Friday windows perETF. Lagged200SMA,5sessionmomentum andRV20. High/lowRV threshold is development median; no filter selected from holdout. Pre2023/post2023 descriptive. {"n":44,"mean_pct":-0.20203821916822817,"p":0.38636363636363635,"win_pct":1.233692175368487,"loss_pct":1.1060166157283822,"quarterkelly":0} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

{"integrity":{"windows":20,"total_bars":2937,"entry_mismatch_count":0,"close_mismatch_count":17,"max_entry_pct":0,"max_close_pct":0.26402640264024946},"summaries":[{"target_ADR":1.5,"N":20,"mean_pct":-2.0132925619373427,"win_rate_pct":30,"avg_win_pct":2.272037551453517,"avg_loss_pct":3.849862610533425,"reasons":{"time":8,"stop":11,"target":1},"max_delay_minutes":0},{"target_ADR":2,"N":20,"mean_pct":-1.9656961492878906,"win_rate_pct":30,"avg_win_pct":2.4306922602850243,"avg_loss_pct":3.849862610533425,"reasons":{"time":8,"stop":11,"target":1},"max_delay_minutes":0}]}. Dailyregularopen/close used for fixedcalendar boundary; baraggregates can differ from auctionprints, retain differences. Triggerclosingbar/nextopenexecution proxy, no tradequotes. https://runway.adityaperswal.workers.dev/data/stock-bars?timeframe=15Min&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"OEF":{"OEF":1,"SPY":0.9812855278113555,"IWM":0.5917433960005724},"SPY":{"OEF":0.9812855278113555,"SPY":1,"IWM":0.6910577659887448},"IWM":{"OEF":0.5917433960005724,"SPY":0.6910577659887448,"IWM":1}} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[-0.21127115199821292,0.11350217613758636],"se_pct":[0.32943002274757144,0.613878536191469],"t":[-0.6413233081676385,0.1848935407348808],"ci_pct":[[-0.856953996583453,0.43441169258702717],[-1.0896997547976928,1.3167041070728656]],"n":35} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[-0.05695523553189239,0.14207783296997054],"se_pct":[0.0913970783273677,0.1408684564860124],"t":[-0.623162540578038,1.0085851475491834],"ci_pct":[[-0.23609350905353307,0.12218303798974829],[-0.13402434174261377,0.41818000768255487]],"n":35} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.5750612931616704,-0.17656100578539455],"se_pct":[0.42747704737219633,0.7207423759798169],"t":[1.345244842259274,-0.24497103496289888],"ci_pct":[[-0.2627937196878344,1.4129163060111753],[-1.5892160627058358,1.2360940511350467]],"n":35,"week_means_pct":{"1":0.2796148416879321,"2":1.5619195540720097,"3":0.3985002873762758,"4":0.10873461142631435,"5":-0.025165714041649096},"OE_N":8,"OE_overnight_pct":0.16788728682740062,"OE_intraday_week_pct":0.24027106060809794} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.4207453766953497,-0.20513666261777885],"se_pct":[0.3534245465659478,0.6306583201876685],"t":[1.1904814783905793,-0.3252738544014375],"ci_pct":[[-0.271966734573908,1.1134574879646075],[-1.4412269701856093,1.0309536449500514]],"n":35,"week_means_pct":{"1":0.6842633603182935,"2":0.8873794780903138,"3":0.21560871407757115,"4":-0.5202832691826531,"5":0.9830828723222718},"OE_N":8,"OE_overnight_pct":0.0936406728710995,"OE_intraday_week_pct":0.12763457209465506} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.3637901411634575,-0.06305882964780825],"se_pct":[0.4167991435313838,0.7061932717874913],"t":[0.8728188308670675,-0.08929401081405942],"ci_pct":[[-0.4531361801580548,1.1807164624849698],[-1.4471976423512911,1.3210799830556745]],"n":35,"week_means_pct":{"1":0.7959271660805484,"2":0.6977508311402536,"3":0.3007313115156493,"4":-0.7514601215871441,"5":1.2948636021146966},"OE_N":8,"OE_overnight_pct":0.08056284205804759,"OE_intraday_week_pct":0.22546692574528793} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"OEF":{"OEF":1,"SPY":0.985021525366486,"IWM":0.7200341338854233},"SPY":{"OEF":0.985021525366486,"SPY":1,"IWM":0.8009287448927497},"IWM":{"OEF":0.7200341338854233,"SPY":0.8009287448927497,"IWM":1}} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.3054632254218439,-0.42396212075561146],"se_pct":[0.1477321367493858,0.3388814198936665],"t":[2.0676829845088793,-1.2510633391722727],"ci_pct":[[0.01590823739304778,0.5950182134506401],[-1.0881697037471978,0.24024546223597487]],"n":155} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.0951345697079993,-0.07059929048261959],"se_pct":[0.029884050038323267,0.07212791960264993],"t":[3.18345637843595,-0.9788066933241456],"ci_pct":[[0.036561831632885705,0.1537073077831129],[-0.21197001290381348,0.07077143193857427]],"n":155} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.21256318280136297,0.3315997072841689],"se_pct":[0.2346642541517409,0.4639105792522492],"t":[0.9058183299784265,0.7147922942793316],"ci_pct":[[-0.24737875533604914,0.6725051209387751],[-0.5776650280502396,1.2408644426185773]],"n":155,"week_means_pct":{"1":-0.24952243746758895,"2":0.05636369527754234,"3":0.5441628900855323,"4":0.5922876570343825,"5":0.8897379484582107},"OE_N":36,"OE_overnight_pct":0.2639794482213206,"OE_intraday_week_pct":0.28303135670587093} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.4228918385152078,-0.021763122988822867],"se_pct":[0.1614671523521699,0.34177802174995986],"t":[2.619058008732664,-0.06367619215943754],"ci_pct":[[0.10641621990495477,0.7393674571254607],[-0.6916480456187442,0.6481217996410985]],"n":155,"week_means_pct":{"1":-0.013487202189583453,"2":0.5441200102122222,"3":0.401128715526385,"4":0.636493678925908,"5":0.6911740042477059},"OE_N":36,"OE_overnight_pct":0.23433449060883838,"OE_intraday_week_pct":0.16995530914567483} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.5180264082232071,-0.09236241347144247],"se_pct":[0.17332898396584848,0.3741372917189105],"t":[2.988688887285438,-0.24686770208630898],"ci_pct":[[0.17830159965014414,0.8577512167962702],[-0.8256715052405071,0.6409466782976221]],"n":155,"week_means_pct":{"1":0.08139303928235903,"2":0.682236868697888,"3":0.4256639947517648,"4":0.7281466482090989,"5":0.6685482995856307},"OE_N":36,"OE_overnight_pct":0.21547242818409176,"OE_intraday_week_pct":0.21387847086267792} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"OEF":{"OEF":1,"SPY":0.992034961359695,"IWM":0.8222846540579495},"SPY":{"OEF":0.992034961359695,"SPY":1,"IWM":0.8554526519659279},"IWM":{"OEF":0.8222846540579495,"SPY":0.8554526519659279,"IWM":1}} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[-0.018705735809158564,0.6519810781587889],"se_pct":[0.1747666330854718,0.41848565203556254],"t":[-0.10703264964777512,1.557953241616475],"ci_pct":[[-0.36124833665668327,0.3238368650383662],[-0.16825079983091365,1.4722129561484913]],"n":103} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[-0.04683795339935499,0.08522304383026409],"se_pct":[0.03366799012321916,0.06624337791562655],"t":[-1.3911716508153884,1.2865141620466838],"ci_pct":[[-0.11282721404086453,0.019151307242154556],[-0.04461397688436395,0.21506006454489215]],"n":103} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.3419063611041827,-1.879039945764387],"se_pct":[0.3115416863859108,0.7244230387931979],"t":[1.0974658482160837,-2.5938434383514952],"ci_pct":[[-0.2687153442122024,0.9525280664205678],[-3.298909101799055,-0.4591707897297192]],"n":103,"week_means_pct":{"1":0.21200441961403332,"2":0.17258313139934847,"3":-1.5371335846602039,"4":0.9358428678421182,"5":-0.47723777492091213},"OE_N":24,"OE_overnight_pct":-0.17317973799125158,"OE_intraday_week_pct":-1.372256992462051} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.37003857869437873,-1.3122819114358615],"se_pct":[0.24116783399975492,0.5690209116334967],"t":[1.5343612477555975,-2.306210342373314],"ci_pct":[[-0.10265037594514087,0.8427275333338983],[-2.4275628982375146,-0.19700092463420787]],"n":103,"week_means_pct":{"1":0.07970103737193371,"2":0.2738801083912986,"3":-0.9422433327414825,"4":1.0165570153895382,"5":-0.3662985561163709},"OE_N":24,"OE_overnight_pct":-0.18686363783589482,"OE_intraday_week_pct":-0.7629458249643044} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all

Measured Sep9. Weekly Friday-close returns, holiday fallback, within-period endpoints. OLS constant + third-Friday dummy, Newey-West4 weekly lags. Coefficients, SEs, CI, week means and decomposition percent; t dimensionless. OEF-SPY/OEF-IWM are paired differences; correlations separate. {"coef_pct":[0.32320062529502386,-1.2270588676055971],"se_pct":[0.25103032476325693,0.5812977574963238],"t":[1.287496343717954,-2.1108955811056216],"ci_pct":[[-0.1688188112409597,0.8152200618310074],[-2.3664024722983914,-0.08771526291280249]],"n":103,"week_means_pct":{"1":0.06493540939743023,"2":0.24697302645910166,"3":-0.9038582423105734,"4":0.9190413468924186,"5":-0.4108929946457112},"OE_N":24,"OE_overnight_pct":-0.21004528869871023,"OE_intraday_week_pct":-0.7010582529687708} https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=OEF,SPY,IWM&timeframe=1Day&feed=sip&adjustment=all