ResearchBenchmarksOption Hedging on SPY 2025Q2 K/F=1.03 (τ = 56d)Follow15.437ES5%RLOP14.6651515.05107515.43715.822925Feb 1, 2026Evaluation ResultsMethodMethodLinksES5%ES10%Shortfall ProbabilityRLOPτ=56, ndays=62τ=56, ndays=622026.0215.43712.07931