Report on the learning outcomes of the Holy Grail strategy. It has essentially become a timing strategy with net vega exposure.

On a daily basis, if volatility does not increase, theta decay is basically zero.

This strategy can be complemented with ddh.

To explain: the Holy Grail does not mean making money all the time; it is simply a low decay, high win rate strategy with a relatively high risk-reward ratio. Especially as it ignores the fluctuations in the underlying price, earning not linear money, but convex money.