Momentum continuation

Thesis (rejected): Names already up 50 %+ on 60 days with persistent up-days and no overhead resistance continue running.

Code: research/momentum_validate.py, research/momentum_options.py Reports: research/momentum_report.json, research/momentum_options_report.json

Why it failed: Real but modest signal — IS options edge was +18.6 pp at 90 DTE on the credit put spread, dropping to +3.4 pp at 30 DTE. Most of the absolute return is generic IV decay any 30-DTE put spread would capture, not cohort-specific alpha. Bounce and coil already cover the same risk premium more efficiently.

Verdict: Removed from the live watch-list 2026-05. Edge is real but not big enough to justify the operational load.