{
  "metadata": {
    "total_days": 173,
    "is_days": 121,
    "oos_days": 52,
    "is_date_range": [
      "2025-06-26",
      "2025-12-12"
    ],
    "oos_date_range": [
      "2025-12-15",
      "2026-02-27"
    ],
    "trace_files": 180
  },
  "is_results": {
    "q1_direction_ic": [
      {
        "ic": -0.0615,
        "p": 0.5538,
        "n": 95,
        "label": "cust_gamma"
      },
      {
        "ic": -0.0043,
        "p": 0.9669,
        "n": 95,
        "label": "mm_gamma"
      },
      {
        "ic": 0.038,
        "p": 0.7146,
        "n": 95,
        "label": "bd_gamma"
      },
      {
        "ic": -0.0717,
        "p": 0.4899,
        "n": 95,
        "label": "firm_gamma"
      },
      {
        "ic": 0.0576,
        "p": 0.5793,
        "n": 95,
        "label": "procust_gamma"
      },
      {
        "ic": -0.0192,
        "p": 0.8535,
        "n": 95,
        "label": "total_gamma"
      },
      {
        "ic": -0.0098,
        "p": 0.9249,
        "n": 95,
        "label": "cust_mm_ratio"
      },
      {
        "ic": -0.0223,
        "p": 0.8299,
        "n": 95,
        "label": "cust_mm_diff"
      },
      {
        "ic": -0.0176,
        "p": 0.8665,
        "n": 94,
        "label": "agg_gex"
      }
    ],
    "q2_followthrough": [
      {
        "wr": 55.3,
        "avg_ret": -0.0108,
        "n": 38,
        "label": "MM Dominant + Break UP"
      },
      {
        "wr": 54.2,
        "avg_ret": 0.0397,
        "n": 24,
        "label": "MM Dominant + Break DOWN"
      },
      {
        "wr": 57.9,
        "avg_ret": 0.1101,
        "n": 19,
        "label": "Cust Dominant + Break UP"
      },
      {
        "wr": 50.0,
        "avg_ret": -0.0738,
        "n": 14,
        "label": "Cust Dominant + Break DOWN"
      },
      {
        "wr": 52.4,
        "avg_ret": 0.0503,
        "n": 21,
        "label": "cust_gamma=Low + Break UP"
      },
      {
        "wr": 54.5,
        "avg_ret": 0.0353,
        "n": 11,
        "label": "cust_gamma=Low + Break DOWN"
      },
      {
        "wr": 41.2,
        "avg_ret": -0.1523,
        "n": 17,
        "label": "cust_gamma=High + Break UP"
      },
      {
        "wr": 53.3,
        "avg_ret": -0.0044,
        "n": 15,
        "label": "cust_gamma=High + Break DOWN"
      },
      {
        "wr": 47.4,
        "avg_ret": 0.1104,
        "n": 19,
        "label": "mm_gamma=Low + Break UP"
      },
      {
        "wr": 61.5,
        "avg_ret": 0.0138,
        "n": 13,
        "label": "mm_gamma=Low + Break DOWN"
      },
      {
        "wr": 44.4,
        "avg_ret": -0.1333,
        "n": 18,
        "label": "mm_gamma=High + Break UP"
      },
      {
        "wr": 42.9,
        "avg_ret": 0.0213,
        "n": 14,
        "label": "mm_gamma=High + Break DOWN"
      }
    ],
    "q3_cust_mm_interaction": [
      {
        "wr": 45.5,
        "avg_ret": -0.2436,
        "n": 11,
        "label": "Cust Agg + MM Hedge + Break UP"
      },
      {
        "wr": 58.7,
        "avg_ret": 0.0948,
        "n": 46,
        "label": "NOT Cust Agg+MM Hedge + Break UP"
      },
      {
        "wr": 40.0,
        "avg_ret": -0.0568,
        "n": 10,
        "label": "Cust Agg + MM Hedge + Break DOWN"
      },
      {
        "wr": 57.1,
        "avg_ret": 0.0175,
        "n": 28,
        "label": "NOT Cust Agg+MM Hedge + Break DOWN"
      }
    ],
    "q4_followthrough_ic": [
      {
        "ic": -0.0612,
        "p": 0.6512,
        "n": 57,
        "label": "cust_gamma \u2192 FT (UP)"
      },
      {
        "ic": -0.1424,
        "p": 0.3939,
        "n": 38,
        "label": "cust_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": -0.0986,
        "p": 0.342,
        "n": 95,
        "label": "cust_gamma \u2192 FT (ALL)"
      },
      {
        "ic": -0.0557,
        "p": 0.6808,
        "n": 57,
        "label": "mm_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.0108,
        "p": 0.9485,
        "n": 38,
        "label": "mm_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": -0.0452,
        "p": 0.6638,
        "n": 95,
        "label": "mm_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.1773,
        "p": 0.1871,
        "n": 57,
        "label": "bd_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.0916,
        "p": 0.5845,
        "n": 38,
        "label": "bd_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.1653,
        "p": 0.1093,
        "n": 95,
        "label": "bd_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.0943,
        "p": 0.4853,
        "n": 57,
        "label": "firm_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.1677,
        "p": 0.3141,
        "n": 38,
        "label": "firm_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.1324,
        "p": 0.2009,
        "n": 95,
        "label": "firm_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.1487,
        "p": 0.2696,
        "n": 57,
        "label": "procust_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.0187,
        "p": 0.9112,
        "n": 38,
        "label": "procust_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.0936,
        "p": 0.3671,
        "n": 95,
        "label": "procust_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.1572,
        "p": 0.2429,
        "n": 57,
        "label": "total_gamma \u2192 FT (UP)"
      },
      {
        "ic": -0.0857,
        "p": 0.609,
        "n": 38,
        "label": "total_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.0534,
        "p": 0.607,
        "n": 95,
        "label": "total_gamma \u2192 FT (ALL)"
      },
      {
        "ic": -0.0388,
        "p": 0.7743,
        "n": 57,
        "label": "cust_mm_ratio \u2192 FT (UP)"
      },
      {
        "ic": -0.0251,
        "p": 0.8813,
        "n": 38,
        "label": "cust_mm_ratio \u2192 FT (DOWN)"
      },
      {
        "ic": -0.0352,
        "p": 0.7347,
        "n": 95,
        "label": "cust_mm_ratio \u2192 FT (ALL)"
      },
      {
        "ic": 0.1138,
        "p": 0.3992,
        "n": 57,
        "label": "cust_mm_diff \u2192 FT (UP)"
      },
      {
        "ic": -0.0909,
        "p": 0.5872,
        "n": 38,
        "label": "cust_mm_diff \u2192 FT (DOWN)"
      },
      {
        "ic": 0.04,
        "p": 0.7,
        "n": 95,
        "label": "cust_mm_diff \u2192 FT (ALL)"
      },
      {
        "ic": 0.0293,
        "p": 0.8301,
        "n": 56,
        "label": "agg_gex \u2192 FT (UP)"
      },
      {
        "ic": -0.1647,
        "p": 0.3232,
        "n": 38,
        "label": "agg_gex \u2192 FT (DOWN)"
      },
      {
        "ic": -0.0506,
        "p": 0.6279,
        "n": 94,
        "label": "agg_gex \u2192 FT (ALL)"
      }
    ],
    "baseline_agg_gex": [
      {
        "wr": 55.4,
        "avg_ret": 0.0289,
        "n": 56,
        "label": "Pos GEX + Break UP"
      },
      {
        "wr": 52.6,
        "avg_ret": -0.0021,
        "n": 38,
        "label": "Pos GEX + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 1,
        "label": "Neg GEX + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 0,
        "label": "Neg GEX + Break DOWN"
      }
    ],
    "combo_gex_participant": [
      {
        "wr": 54.1,
        "avg_ret": -0.0127,
        "n": 37,
        "label": "Pos GEX + MM Dom + Break UP"
      },
      {
        "wr": 54.2,
        "avg_ret": 0.0397,
        "n": 24,
        "label": "Pos GEX + MM Dom + Break DOWN"
      },
      {
        "wr": 57.9,
        "avg_ret": 0.1101,
        "n": 19,
        "label": "Pos GEX + Cust Dom + Break UP"
      },
      {
        "wr": 50.0,
        "avg_ret": -0.0738,
        "n": 14,
        "label": "Pos GEX + Cust Dom + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 1,
        "label": "Neg GEX + MM Dom + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 0,
        "label": "Neg GEX + MM Dom + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 0,
        "label": "Neg GEX + Cust Dom + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 0,
        "label": "Neg GEX + Cust Dom + Break DOWN"
      }
    ]
  },
  "oos_results": {
    "q1_direction_ic": [
      {
        "ic": -0.2062,
        "p": 0.1959,
        "n": 41,
        "label": "cust_gamma"
      },
      {
        "ic": 0.0124,
        "p": 0.9388,
        "n": 41,
        "label": "mm_gamma"
      },
      {
        "ic": 0.1773,
        "p": 0.2674,
        "n": 41,
        "label": "bd_gamma"
      },
      {
        "ic": 0.0412,
        "p": 0.7979,
        "n": 41,
        "label": "firm_gamma"
      },
      {
        "ic": 0.0041,
        "p": 0.9796,
        "n": 41,
        "label": "procust_gamma"
      },
      {
        "ic": 0.066,
        "p": 0.6819,
        "n": 41,
        "label": "total_gamma"
      },
      {
        "ic": -0.1608,
        "p": 0.3151,
        "n": 41,
        "label": "cust_mm_ratio"
      },
      {
        "ic": -0.0412,
        "p": 0.7979,
        "n": 41,
        "label": "cust_mm_diff"
      },
      {
        "ic": 0.2148,
        "p": 0.1891,
        "n": 39,
        "label": "agg_gex"
      }
    ],
    "q2_followthrough": [
      {
        "wr": 58.8,
        "avg_ret": 0.0525,
        "n": 17,
        "label": "MM Dominant + Break UP"
      },
      {
        "wr": 64.7,
        "avg_ret": 0.165,
        "n": 17,
        "label": "MM Dominant + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 3,
        "label": "Cust Dominant + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 4,
        "label": "Cust Dominant + Break DOWN"
      },
      {
        "wr": 71.4,
        "avg_ret": 0.0162,
        "n": 7,
        "label": "cust_gamma=Low + Break UP"
      },
      {
        "wr": 71.4,
        "avg_ret": 0.2563,
        "n": 7,
        "label": "cust_gamma=Low + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 4,
        "label": "cust_gamma=High + Break UP"
      },
      {
        "wr": 70.0,
        "avg_ret": 0.1119,
        "n": 10,
        "label": "cust_gamma=High + Break DOWN"
      },
      {
        "wr": 57.1,
        "avg_ret": 0.1397,
        "n": 7,
        "label": "mm_gamma=Low + Break UP"
      },
      {
        "wr": 57.1,
        "avg_ret": 0.1767,
        "n": 7,
        "label": "mm_gamma=Low + Break DOWN"
      },
      {
        "wr": 75.0,
        "avg_ret": 0.0359,
        "n": 8,
        "label": "mm_gamma=High + Break UP"
      },
      {
        "wr": 66.7,
        "avg_ret": 0.0576,
        "n": 6,
        "label": "mm_gamma=High + Break DOWN"
      }
    ],
    "q3_cust_mm_interaction": [
      {
        "wr": 50.0,
        "avg_ret": 0.0131,
        "n": 6,
        "label": "Cust Agg + MM Hedge + Break UP"
      },
      {
        "wr": 64.3,
        "avg_ret": 0.078,
        "n": 14,
        "label": "NOT Cust Agg+MM Hedge + Break UP"
      },
      {
        "wr": 66.7,
        "avg_ret": 0.1135,
        "n": 9,
        "label": "Cust Agg + MM Hedge + Break DOWN"
      },
      {
        "wr": 66.7,
        "avg_ret": 0.2418,
        "n": 12,
        "label": "NOT Cust Agg+MM Hedge + Break DOWN"
      }
    ],
    "q4_followthrough_ic": [
      {
        "ic": -0.1744,
        "p": 0.462,
        "n": 20,
        "label": "cust_gamma \u2192 FT (UP)"
      },
      {
        "ic": -0.1623,
        "p": 0.482,
        "n": 21,
        "label": "cust_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": -0.1005,
        "p": 0.5317,
        "n": 41,
        "label": "cust_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.0015,
        "p": 0.995,
        "n": 20,
        "label": "mm_gamma \u2192 FT (UP)"
      },
      {
        "ic": -0.1143,
        "p": 0.6218,
        "n": 21,
        "label": "mm_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": -0.0725,
        "p": 0.6525,
        "n": 41,
        "label": "mm_gamma \u2192 FT (ALL)"
      },
      {
        "ic": -0.1038,
        "p": 0.6633,
        "n": 20,
        "label": "bd_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.2532,
        "p": 0.268,
        "n": 21,
        "label": "bd_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.1042,
        "p": 0.5168,
        "n": 41,
        "label": "bd_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.1805,
        "p": 0.4465,
        "n": 20,
        "label": "firm_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.087,
        "p": 0.7076,
        "n": 21,
        "label": "firm_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.1289,
        "p": 0.4218,
        "n": 41,
        "label": "firm_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.1414,
        "p": 0.5522,
        "n": 20,
        "label": "procust_gamma \u2192 FT (UP)"
      },
      {
        "ic": 0.3961,
        "p": 0.0755,
        "n": 21,
        "label": "procust_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": 0.2744,
        "p": 0.0825,
        "n": 41,
        "label": "procust_gamma \u2192 FT (ALL)"
      },
      {
        "ic": 0.0451,
        "p": 0.8502,
        "n": 20,
        "label": "total_gamma \u2192 FT (UP)"
      },
      {
        "ic": -0.0883,
        "p": 0.7035,
        "n": 21,
        "label": "total_gamma \u2192 FT (DOWN)"
      },
      {
        "ic": -0.073,
        "p": 0.6501,
        "n": 41,
        "label": "total_gamma \u2192 FT (ALL)"
      },
      {
        "ic": -0.0571,
        "p": 0.8109,
        "n": 20,
        "label": "cust_mm_ratio \u2192 FT (UP)"
      },
      {
        "ic": 0.3351,
        "p": 0.1376,
        "n": 21,
        "label": "cust_mm_ratio \u2192 FT (DOWN)"
      },
      {
        "ic": 0.1606,
        "p": 0.3157,
        "n": 41,
        "label": "cust_mm_ratio \u2192 FT (ALL)"
      },
      {
        "ic": -0.0526,
        "p": 0.8256,
        "n": 20,
        "label": "cust_mm_diff \u2192 FT (UP)"
      },
      {
        "ic": 0.0766,
        "p": 0.7413,
        "n": 21,
        "label": "cust_mm_diff \u2192 FT (DOWN)"
      },
      {
        "ic": 0.0409,
        "p": 0.7994,
        "n": 41,
        "label": "cust_mm_diff \u2192 FT (ALL)"
      },
      {
        "ic": 0.193,
        "p": 0.4429,
        "n": 18,
        "label": "agg_gex \u2192 FT (UP)"
      },
      {
        "ic": -0.1221,
        "p": 0.5981,
        "n": 21,
        "label": "agg_gex \u2192 FT (DOWN)"
      },
      {
        "ic": 0.0097,
        "p": 0.9532,
        "n": 39,
        "label": "agg_gex \u2192 FT (ALL)"
      }
    ],
    "baseline_agg_gex": [
      {
        "wr": 66.7,
        "avg_ret": 0.043,
        "n": 6,
        "label": "Pos GEX + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 4,
        "label": "Pos GEX + Break DOWN"
      },
      {
        "wr": 57.1,
        "avg_ret": 0.0651,
        "n": 14,
        "label": "Neg GEX + Break UP"
      },
      {
        "wr": 64.7,
        "avg_ret": 0.202,
        "n": 17,
        "label": "Neg GEX + Break DOWN"
      }
    ],
    "combo_gex_participant": [
      {
        "wr": null,
        "avg_ret": null,
        "n": 3,
        "label": "Pos GEX + MM Dom + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 2,
        "label": "Pos GEX + MM Dom + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 3,
        "label": "Pos GEX + Cust Dom + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 2,
        "label": "Pos GEX + Cust Dom + Break DOWN"
      },
      {
        "wr": 57.1,
        "avg_ret": 0.0651,
        "n": 14,
        "label": "Neg GEX + MM Dom + Break UP"
      },
      {
        "wr": 60.0,
        "avg_ret": 0.1597,
        "n": 15,
        "label": "Neg GEX + MM Dom + Break DOWN"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 0,
        "label": "Neg GEX + Cust Dom + Break UP"
      },
      {
        "wr": null,
        "avg_ret": null,
        "n": 2,
        "label": "Neg GEX + Cust Dom + Break DOWN"
      }
    ]
  },
  "flags": [
    "\u26a0\ufe0f SIGN FLIP: bd_gamma \u2192 FT (UP) \u2014 IS IC=0.1773, OOS IC=-0.1038",
    "\u26a0\ufe0f SIGN FLIP: total_gamma \u2192 FT (ALL) \u2014 IS IC=0.0534, OOS IC=-0.073",
    "\u26a0\ufe0f SIGN FLIP: cust_mm_diff \u2192 FT (UP) \u2014 IS IC=0.1138, OOS IC=-0.0526",
    "\u26a0\ufe0f SIGN FLIP: cust_mm_diff \u2192 FT (DOWN) \u2014 IS IC=-0.0909, OOS IC=0.0766"
  ]
}