Equities & index
Cross-sectional screens, earnings dispersion and index-level breadth. Positioning read against price action rather than narrative.
- Breadth & regime dashboards
- Factor and sector rotation
- Event-window studies
Launching Q4 2026
Market research that shows the working.
Upsilon Research publishes independent analysis across equities, index options, Bitcoin and digital assets — and the tooling we use to produce it. Every report ships with its data sources, its assumptions and the code path behind the numbers.
- Equities
- Index options
- Volatility
- Bitcoin
- Digital assets
What we publish
Four desks, one standard of evidence
Coverage is deliberately narrow. We write where we hold data, a model and a track record of being wrong in measurable ways.
Options & volatility
Term structure, skew and dealer gamma on SPX and single names. Greeks computed from raw chains, not vendor summaries.
- Skew & term-structure maps
- Gamma / vanna exposure
- Defined-risk structure studies
Bitcoin
On-chain cost basis, holder cohorts and derivatives funding, framed against cycle position instead of month-to-month sentiment.
- Cycle & cost-basis models
- Funding, basis & open interest
- ETF and spot flow tracking
Digital assets
Majors and liquid alts: momentum and mean-reversion behaviour, venue liquidity quality, and where the microstructure breaks.
- Momentum & carry screens
- Liquidity & venue quality
- Perp / spot dislocations
Research calendar
First titles in preparation
The first dossiers are being written and backtested now. Early-access readers get them before the public archive opens.
- UR-001 The 20-delta that becomes 50-delta: panic or coin flip? Options Q4 2026
- UR-002 Overnight drift in crypto majors, venue by venue Digital assets Q4 2026
- UR-003 Bitcoin holder cohorts as a drawdown early-warning set Bitcoin Q4 2026
- UR-004 Index breadth divergence and forward dispersion Equities Q1 2027
Titles and dates are provisional and will change as work lands.
Tooling
The instruments, not just the write-up
Each report is produced by tooling we maintain: ingestion, a model, a backtest and a chart. We are opening that layer up so you can run the question yourself instead of taking our conclusion on trust.
Data pipelines
Normalised chains, bars and on-chain series with provenance and point-in-time integrity.
Screeners & scanners
Composable filters over equities, options and digital assets, saved and re-runnable.
Backtest harness
Defined-risk structures, fee and slippage assumptions stated up front, results exportable.
Research API
Programmatic access to the same series behind the published charts.
$ upsilon chains fetch SPXW --expiry 2026-12-18 --greeks
→ 1,284 contracts · iv surface built · 412ms
$ upsilon study skew --window 20d --out skew.parquet
→ term structure: front -1.8 vol vs 30d
→ written skew.parquet (2.1 MB)
$ upsilon backtest put-spread --risk 2.5% --rr 2.0
✓ 412 trades · hit 0.41 · expectancy +0.23R
assumptions: mid-fill, $0.65/contract, no overnight adds
Illustrative output. Interface and figures are placeholders.
Method
Four rules every report has to clear
Provenance
Every series names its vendor, its as-of timestamp and its known gaps. No unattributed numbers.
Reproducibility
The code path that produced a chart ships with it. If you cannot re-run it, we do not publish it.
Stated risk
Costs, slippage and sizing assumptions appear next to the result, not in a footnote.
Falsifiability
Each thesis names the observation that would retire it — and we publish when it does.
FAQ
Before you sign up
What exactly launches in Q4 2026?
The research archive with the first dossiers across the four desks, plus early access to the screeners and the research API. The backtest harness follows in the first half of 2027.
Is this investment advice or a signal service?
No. Upsilon Research publishes analysis and tooling. We do not manage money, take client orders, or issue buy and sell calls. Everything we publish is for research purposes.
Where does the data come from?
Licensed market data vendors for equities and options chains, exchange APIs and public on-chain sources for digital assets. Each report lists its sources; some will require your own vendor entitlement to reproduce.
Who is it for?
Systematic and discretionary traders, analysts and quantitative developers who want the working rather than the headline.
How is pricing structured?
Not finalised. Expect a free public tier of reports and a paid tier for the full archive and tooling access. Early-access readers will be told before anything becomes paid.
Early access
Be on the list when the first dossier ships
One email at launch, occasional previews before publication. Nothing else.