Can You Trade Options Skew? 1 Million Trades Backtested | FlashAlpha
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research · 1 min read

Can You Trade Options Skew? Risk Reversals, Put Spreads and Skew Calendars Backtested on 53 ETFs and Stocks

We backtested over a million skew trades on 53 ETFs and stocks from 2018 to 2026, selling the rich wing against the cheap one with put spreads, risk reversals, put ratios and broken-wing flies, when skew was steep or flat, with and without a dealer-gamma filter, and answered twelve related questions about skew.

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Nov 3, 2026
1 min read
Research Enterprise Volatility Skew RiskReversal Backtesting SingleStocks

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Enterprise members get the full results: four skew trades on steep, flat and random days with and without a dealer-gamma filter, twelve skew questions answered, the pre-registered test plan, and the method behind every number.

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