Trade Execution — Buys | SECT Capital Quant Research

Redacted — proprietary method withheld. The space is kept so you can see where detail exists.

Execution summary

I filled 10 market orders at Monday's open for the week of August 24, 2026. I show the ATR-scaled stop and the conviction I carried in; the position weightings stay proprietary.

Ticker	Fill	Shares	Value $	Stop	Composite	Exp. return
FRSH	13.22	573.1566	7577.13	GTC ATR stop	n/a	n/a
MH	13.64	550.8908	7514.15	GTC ATR stop	n/a	n/a
ZIM	28.37	268.3176	7612.17	GTC ATR stop	n/a	n/a
SPSC	82.19	91.1499	7491.61	GTC ATR stop	n/a	n/a
CNR	96.44	77.2016	7445.32	GTC ATR stop	n/a	n/a
TFPM	34.62	215.3567	7455.65	GTC ATR stop	n/a	n/a
MSI	481.03	15.6117	7509.68	GTC ATR stop	n/a	n/a
EXK	10.75	705.0335	7579.11	GTC ATR stop	n/a	n/a
G	37.55	198.0964	7438.52	GTC ATR stop	n/a	n/a
SRRK	58.32	129.7303	7565.87	GTC ATR stop	n/a	n/a

Macro environment

VIX

16.01

10Y−2Y

+0.50

HY OAS

2.75

Unemployment

4.1

SPY 20d

+3.54%

Here is how I read the backdrop: volatility is cheap at 16.0 — barely 1.01% a day — and cheap vol is exactly where I watch crowding hardest, the 10y−2y curve has steepened to +0.50, a quieter vote of confidence in duration, high-yield spreads at 2.75 are still contained, so credit is not yet contradicting the tape, and the S&P's trailing month is +3.5%, the trend I am actually trading against.

Volatility is the first thing I price, because it sets the size of every other bet. I scale gross exposure inversely to realised vol — target the risk, not the notional — so a calmer tape lets the book breathe and a violent one pulls it in automatically:

\sigma_{\text{daily}}\approx\dfrac{\mathrm{VIX}}{\sqrt{252}}\qquad w_{\text{gross}}\;\propto\;\dfrac{\sigma_{\text{target}}}{\sigma_{\text{daily}}}

Source: fred · as of 2026-08-23

Per-position evidence

A standing note on method. I run this book in paper-trading mode, so every fill you see is simulated rather than a realised, audited track record — I would rather state that plainly than flatter the numbers. Nothing here is investment advice, an offer, or a solicitation; it is my own research, published so it can be read and argued with in the open. The blacked-out passages mark the parts of the process I keep proprietary. And because the framework recalibrates every week, where my read was wrong I expect the priors — not my ego — to be the first to say so.