Immutable research result
Call Broken-Wing Butterfly
Training and validation use consecutive frozen historical stages. Missing or incomplete option lifecycles were skipped rather than priced by proxy.
Stage evidence
| Stage | ROI | Adverse ROI | Win rate | Profit factor | Sharpe | Max drawdown |
|---|---|---|---|---|---|---|
| Training16 completed, 8 skipped | +1.71% | +0.90% | +75.00% | 1.71 | 0.36 | −2.41% |
| Validation1 completed, 1 skipped | −0.42% | −0.47% | +0.00% | 0.00 | -0.23 | −0.97% |
RESEARCH RECORD ID
e828a6c1ea31…
The strategy, protocol, data snapshots, costs and deterministic assumptions are fingerprinted together.
PAPER-OBSERVATION DECISION
Historical evidence unfavorable
Validation ROI, adverse-cost ROI, or Sharpe was not positive. The blocker is observed performance, not merely data volume, so this version is not approved for paper observation.