It measures the edge before it takes the trade.
Selling an option is selling insurance on the market. Beleth checks whether the premium on offer is genuinely bigger than the risk it would be taking on — and when it isn't, it buys nothing and says why. Every refusal is published next to every trade.
QQQ · 09-01 18:36 UTCOpen positions: 2 spread(s) checked against the exit rules, all within them. Trade: sell a bear call vertical on QQQ — 719.0/720.0 strikes expiring 2026-09-08 (7 DTE), ~$0.20/share credit, defined max loss $80.00 per spread. Why: The VRP exceeds the 1.5‑vol threshold across tenors, term structure is contango (favorable), and no near‑term macro event blocks the 7‑day expiry. The bear‑call spread at 719/720 offers a tight $0.04 bid/ask, $0.20 credit, and a short‑leg delta of 0.19, fitting the strategy’s risk parameters. One multi-leg order (15 spread(s) at a 0.18 net-credit limit — 0.02 slippage off the 0.20 measured mid) is being sent; the trades log carries the outcome. R9 (VIX taper): VIX 1y percentile 8.7 between the 3 floor and the 25 ceiling — per-trade size scaled to 63% of the cap.
stamping a filled spread
How it decides
The same four steps, over and over, while the market is open. Any one of them can stop the trade.
The account is open for reading.
Every decision the agent has ever made is in it, refusals included — persisted to a public database as each cycle runs. The code, the strategy notes, and the data layer are all in the open.