Spent 2 weeks building an honest SPY short-vol backtest. Same cell did +5,400% with a stop and -100%

The community points out that the backtest’s calibration is highly sensitive to fills and stop-loss assumptions, indicating overfitting. They also note that stop losses will not protect against wild swings and liquidation at the worst time. This suggests that short-volatility strategies (e.g., selling options or VIX-related products on SPY) are inherently dangerous and likely to fail in real market conditions, creating a strong reason to avoid them rather than attempt them. The community consensus, based on this specific backtest analysis, is to avoid short-vol positions on SPY due to tail risk and model unreliability. No counter-arguments are provided in the thread; the single comment is the only view. Possible dissent could be that disciplined risk management might work, but the comment explicitly dismisses that.