From a long-term perspective, the biggest obstacle to stable compounding is large drawdowns. This strategy will underperform the benchmark beta during periods of significant rallies. However, from a statistical perspective, we maintain stable aerfax in both sideways and bearish markets. Given the random distribution of these three market conditions and our inability to predict the short term, we can leverage the VRP effect of option sellers. Thus, it's easy to conclude from deductive reasoning that this is a trading system with a positive EV. This is incredibly simple!