In the previous article, we only backtested the data from 2025.1 to 2026.2 for the strategy of buying Puts. Today, let's take a look at the performance of executing the buy Put strategy based on the IVP signal over the time span of 260 weeks from 2021.03.26 to 2026.03.13. From the matrix chart, we can draw the following conclusions: - The high threshold group completely outperformed the low threshold group, so our conclusion from the article stands: chasing highs is indeed the real bottom fishing. - In terms of signals, the second and third ranked strategies 7D/14D >P80/P90 outperformed 30D >P80 over the 5-year period, indicating they are relatively stable strategies. Now, let's analyze the yearly performance of the strategy with the highest Sharpe ratio (0.60), which is 7D >P80: - 2021: 6 trades, all losses -$600, in a bull market, DVOL frequently spiked to 80+, signals were frequent but all were V reversals. - 2022: 3 trades, 1 win +$3,412, with the Luna crash (6/10) resulting in one trade of +$3,612; notably, P90 did not capture this trade. - 2023: 5 trades, all losses -$500, during a low volatility recovery period, signals occasionally triggered but there was no real crash. - 2024: 10 trades, all losses -$1,000, the worst year, in a major bull market, every pullback was a V reversal, resulting in 10 trades going to zero. - 2025: 14 trades, 2 wins +$2,886, earning $2,348 in October and $1,738 in November. - 2026: 2 trades, 1 win +$4,820, with a single trade on Jan 30 earning +$4,920 covering another loss. In summary, the first three years lost $1,100 (with 2022 recovering some losses thanks to Luna), then lost another $1,000 in 2024, but made a whopping $7,706 in 2025-2026. This aligns with expectations, as IVP can only tell us that "the market is in panic"; in most cases, it won't really accelerate into a crash, but as long as we hit it once, we can make it all back in one trade 😃.