Fee Drag Optimizer

Edge lost to fees and wing cost is the silent killer of premium-selling strategies. Unlike stop-outs or tail events, fee drag takes from you 100% of the time—every single trade, win or lose. If your structure gives away 60–80% of theoretical edge just to commissions and wings, there is not enough left to survive the inevitable losing streaks. This tool shows that trading as naked as possible preserves the most edge, which is the correct baseline intuition. Note: this is a naive model—it ignores tail hedges, margin regime changes, and gap risk. The point is not to trade naked, but to understand how expensive poorly chosen wings and instruments are so you size your hedges intentionally, not accidentally.