TSLA2818.76▼ −1.04%NVDA704.85▼ −0.32%FCX120.01▼ −2.60%NFLX66.38▲ +2.20%BA368.98▼ −3.85%TSLA2818.76▼ −1.04%NVDA704.85▼ −0.32%FCX120.01▼ −2.60%NFLX66.38▲ +2.20%BA368.98▼ −3.85%
Edge Mantis — Signature move
▍ Legend Terminal · Mantis

Edge Mantis

A collectible critter in the spirit of Edward Thorp · 1960s–2000s

POWERFinding a measurable mathematical edge and hedging away the rest.
legendaryOptions styleMantis
Total return
+2.2%
Simulated, this window (~1 month). Never annualized.
vs SPY
+0.5%
Window spread over the S&P 500 benchmark.
Max drawdown
−4.2%
Worst peak-to-valley dip realized in-window.
Sharpe
1.16
Return per unit of risk (annualized ratio).
Simulated · educational · not investment advice. A book traded in Edge Mantis's style — a fictional critter in the spirit of Edward Thorp. Not a portrait, quote, endorsement, or Edward Thorp's real returns.
The story

A critter in the spirit of Edward Thorp, the mathematician who wrote 'Beat the Dealer' on blackjack card counting and 'Beat the Market,' then ran the quant fund Princeton/Newport. Inspired by his hedged, probability-based approach and early work on options and convertible arbitrage. Educational inspiration only.

The lesson
What a player learnsSize your bets to the edge and the risk of ruin, not your hopes.
Strategy dossier — Options Income / Covered CallsOptions · medium risk

Sell options against holdings to collect premium as a recurring income stream.

Options-income strategies sell options to collect the premium buyers pay. The classic covered call means owning a stock and selling a call against it: you pocket the premium, and if the stock stays below the strike, you keep both shares and cash. Cash-secured puts work similarly on the buy side. The seller is effectively renting out upside or agreeing to buy lower, earning steady income in flat or mildly rising markets. It monetizes the tendency of options to be priced slightly rich (the volatility risk premium). The catch is asymmetry: you cap your gains while keeping most of the downside, so a big rally or crash hurts.

Strengths

  • Generates steady income in flat or range-bound markets
  • Covered calls lower cost basis and cushion small drops
  • Monetizes the persistent volatility risk premium

Trade-offs

  • Caps upside: you forfeit big rallies for a small premium
  • Keeps most of the downside if the stock crashes
  • Assignment, tax, and complexity risks for beginners
Also practiced byCBOE BuyWrite index popularizersNumerous covered-call ETF providersOptions-income desks broadly
Read the full Options Income / Covered Calls guide →
The deep-dive on how this style works, its risks, and its history.
SIM · Track record — equity curverebased · 100
100.0102.0104.0106.02026-06-182026-06-192026-06-222026-06-232026-06-242026-06-252026-06-262026-06-292026-06-302026-07-012026-07-022026-07-032026-07-062026-07-072026-07-082026-07-092026-07-102026-07-132026-07-142026-07-152026-07-16
A simulated book traded in Edge Mantis's style over the season window (2026-06-18 → 2026-07-17, ~21 sessions) vs SPY. Values rebased to 100 — NOT Edward Thorp's real returns.
SIM · Risk · ratios
1.16SHARPE
Sortino
2.09
Reward per unit of downside risk (annualized).
Ann. vol
27%
How bouncy the ride was, annualized.
Win rate
40%
Share of days that finished green.
Portfolio β
1.48
How much it moves with the whole market.
Best day
+3.9%
Biggest single-day gain this window.
Worst day
−2.0%
Biggest single-day drop this window.
Drawdown (in-window)
Returns are raw window totals; ratios are annualized (labelled). SPY did +1.7% over the same window.
SIM · Holdings — real companies, honestly explained5 names
TickerCompanyWeightWindowPath
TSLA
Tesla
Electric cars, batteries, solar, and self-driving software.
27%
▼ −11.0%
NVDA
NVIDIA
Designs the chips (GPUs) that power video games and — hugely — AI.
23%
▲ +4.8%
FCX
Freeport-McMoRan
Freeport-McMoRan supplies the raw materials everything is made from.
20%
▲ +15.4%
NFLX
Netflix
The streaming service that helped end cable TV.
16%
▲ +4.9%
BA
Boeing
Boeing builds the machines and infrastructure behind the economy.
14%
▲ +4.6%
Tickers are real large-caps used for familiarity — no valuation claims, no price targets.
SIM · Sector exposure
Consumer
27%
Technology
23%
Materials
20%
Communications
16%
Industrials
14%
SIM · Conviction map — beta × volatility
5%28%50%0.4β1.2β1.9βvol ↑market beta →TSLANVDAFCXNFLXBA
Where this critter's simulated picks sit on the risk map — bubble size = portfolio weight, hue = sector.
SIM · Best & worst holder (this window)
FCX
Freeport-McMoRan
+15.4%
▲ Best-performing holding
A price-path fact this window — not a verdict on the company.
TSLA
Tesla
−11.0%
▼ Worst-performing holding
A price-path fact this window — not a verdict on the company.
Analyst's note
Hedgie
League analyst

🦗 Edge Mantis ran a options style book this window. It returned +2.2% (+0.5% vs SPY), with a Sharpe of 1.16 and a -4.2% worst dip. True to its discipline, it sold patience for a steady premium. Discipline over drama — this describes the critter's process and result, not the merit of any company. Simulated · educational · not investment advice.

Model sheet4 poses
Edge Mantis — Signature move
Signature moveTheir power in action

Recruit the Edge Mantis style in Conviction League

Draft a critter that trades in this spirit, train it on a simulated market, and climb the leaderboard — free and fully simulated, so there's zero real-money risk.

Start your Burrow →Meet all the Legends

Prices are simulated by a factor model; tickers are real large-caps used for familiarity only. Returns shown are raw window totals over a ~1-month fixture; Sharpe/Sortino/vol are annualized ratios.