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SURG Capital · San Francisco · Est. 2022

Edge-driven.
Process-first.
Built for longevity.

SURG Capital is a proprietary trading operation and education group. We trade self-funded, prop-funded, and live APEX-provided capital across multiple strategies. We teach others to build the same skills through Edgecomb Group.

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25+
Active Prop Accounts
Type 1 Futures Strategy
3
Strategies in Development
Futures · Volatility · Equity
5
Edgecomb Pilot Spots
Referral Only · 2025 Cohort

Three engines.
One framework.

SURG Capital deploys capital across three distinct trading strategies each operating on a different instrument, timeframe, and market dynamic. United by a common process infrastructure, regime-aware sizing, and the conviction that edge without discipline is noise.

Type 1
Discretionary Intraday Futures
Session-based execution on US equity index futures during primary liquidity windows. Edge derived from order flow analysis, HTF bias, and regime-aware dynamic sizing. The foundation of the Edgecomb Group curriculum.
Type 2
Forward Volatility Factor
Systematic capture of persistent term structure mispricing in single-name equity options. Long ATM call calendars when forward implied volatility is sufficiently underpriced. Negatively correlated to market beta.
Type 3
Global Long / Short In Development
Fundamental equity research with a macro overlay. Long-term holds in quality businesses where variant perception creates an identifiable valuation gap. Traded on personal and managed accounts. Not open to outside capital at this stage.
SURG Capital
Active Trading
Proprietary trading across discretionary futures and systematic options volatility strategies. All capital is self-funded, prop-funded, or APEX-provided live capital. We are building a documented track record and methodology. Not managing outside capital at this stage.
Type 1 · Futures Type 2 · Vol Factor Type 3 · In Development
View Strategies
Edgecomb Group
Mentorship Program
A 12-week intensive for five traders serious about developing professional-grade discretionary execution. Built around the same framework used to generate $50k+ in prop firm payouts. Not a course. Not recorded content. A working relationship.
Type 1 · Futures Only Foundation Strategy
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Our Strategies

Three strategies at different stages of development two actively traded across multiple accounts, one reserved for personal and managed capital while the methodology matures. All unified by the same process framework and regime-aware execution.

Strategy One

Discretionary
Intraday Futures

US Equity Index Futures · Session-Based

A session-based execution model applied to US equity index futures during primary liquidity windows. The strategy identifies structural mispricings in intraday order flow using HTF bias, liquidity sweeps, and order flow confirmation to enter high-probability reversals and continuations during the New York Kill Zone.

Edge is derived from the participation gap between institutional flow and retail speculation in near-term index futures, combined with regime-aware dynamic sizing that scales with setup quality rather than conviction alone.

Instrument MNQ / MES Futures
Session Window 9:30 – 11:00 AM ET
Execution Style Discretionary
Market Beta Low / Regime-Dependent
Sizing Model Regime × Confluence × Mental State
Strategy Two

Systematic
Forward Volatility

Single-Name Equity Options · Calendar Spreads

A systematic strategy capturing persistent term structure mispricing in single-name equity options. Based on academic research demonstrating that forward implied volatility is a biased predictor of future spot volatility with the bias consistently underpricing the back leg of the term structure in high near-term IV environments.

The strategy goes long ATM call calendars when the Forward Factor exceeds a defined threshold, holding through the front expiry and closing before pin risk. Negatively correlated to market beta the strategy performs best during the market stress events that challenge most directional strategies.

Instrument Single-Name Equity Options
Structure Long ATM Call Calendar
Signal Forward Factor ≥ 20%
Market Beta Negative
Sizing Model Fractional Kelly (¼ – ½)
Important Disclosures: Past performance is not indicative of future results. The strategies described represent the current investment approach of SURG Capital and are subject to change. This website does not constitute an offer to sell or a solicitation of an offer to buy any securities or investment products. All trading involves risk, including the possible loss of principal.

About Us

Leo received a B.S. in Applied Economics and Management and a B.S. in Information Science from Cornell University. He previously served as a Portfolio Manager at Wells Fargo Bank, building expertise in credit risk and business analysis across industries. Before founding SURG Capital, he worked as a Business Analyst at Reckitt, improving the digital performance of several consumer product lines.

Leo began trading in 2020 and has accumulated over two years of experience managing proprietary trading firm accounts with verified payouts. SURG Capital trades its own capital and educates the next generation of discretionary traders through Edgecomb Group.

  • 2022–
    SURG Capital · San Francisco
  • 2022–25
    Credit Portfolio Manager Wells Fargo Bank
  • 2021
    Business Analyst Reckitt · Consumer Goods
  • 2020
    Began Trading Prop Firm Accounts · Verified Payouts
  • B.S. Applied Economics & Management
    B.S. Information Science
    Cornell University

What we are here to do

Stellar and sustainable trading performance.
We seek returns that hold up not just in favorable conditions but across multiple market regimes trending, rangebound, high volatility, and transitioning. Edge that only works in one environment is not edge.
Reduce barriers to profitability, not entry.
The market does not need more traders. It needs better ones. Edgecomb Group is not built to make trading accessible it is built to make talented aspiring traders genuinely profitable through the same process infrastructure that separates professionals from the rest.

What we believe

"Strategy is 10% of profitable trading."
The other 90% is process, psychology, and the infrastructure built around execution. Most traders spend all their time on the 10%.
"Knowing a pitfall is not protection."
Every trader who has blown an account knew overtrading was dangerous before they did it. Knowledge without structural prevention is false comfort.
"The goal is to not need me."
Edgecomb Group is designed to produce independent traders, not dependent students. The measure of success is the student operating without the program.
"Screen time is not optional."
Repertoire is built through daily observation of real markets, not study alone. There is no substitute for showing up every morning.

Insights

Market commentary, trading frameworks, and research from the SURG Capital desk useful whether you are a current Edgecomb student or simply serious about the craft.

Research

Forward Volatility as a Biased Predictor: The Academic Edge Behind Type 2

The term structure of implied volatility contains a persistent and exploitable inefficiency. Here is how we think about it and how it translates into a systematic calendar spread strategy.

April 2025 · 12 min read Read →
Market Commentary

Feb–March 2026: What a High Vol Rangebound Regime Actually Looks Like

The most dangerous regime for discretionary traders is not a trending bear market. It is high volatility with no directional follow-through. A case study from the desk.

March 2025 · 6 min read Read →
Edgecomb

Why Knowing a Pitfall Is Not Protection

Every trader who has ever blown an account knew overtrading was dangerous before they did it. The problem is not knowledge it is the absence of structural prevention.

February 2025 · 5 min read Read →
Framework Notes

The Process Grade: Why We Score Decisions, Not Outcomes

A losing trade with a sound process is a good trade. A winning trade built on deviation is a liability. The documentation infrastructure that makes this distinction usable.

January 2025 · 7 min read Read →
Research

VIX Term Structure and What It Tells You Before the Open

VIX9D versus VIX versus VIX3M the three-number pre-session read that takes two minutes and materially changes how you should be sizing on any given morning.

December 2024 · 9 min read Read →

Edgecomb Group

12-Week Pilot Program · 5 Spots · By Referral

A 12-week intensive to build the systems, framework, and habits that make a lifelong trading career possible. No signals. No indicators. No magic pill. A working relationship with an active trader who does this every day.

12 weeks.
Three phases.

Trading is a lifelong pursuit. This program does not make you profitable. No program can promise that. What we teach is mastery of technique: how to read a market, build a process, and execute with discipline. We are not selling signals or indicators. The goal at the end is not a shortcut. It is readiness.

The Edgecomb Commitment

Every student who completes the program and puts in the work will pass their first funded account evaluation and receive their first verified payout or continue in the following cohort at no additional cost.

Beyond the 12 weeks, all Edgecomb students retain lifetime access to daily live trading sessions. The market is a lifelong education. So is this.

5x per week Live NY AM session
5x per week Day in review
1x per week Focused material session
Daily Every trade tagged same day
Weekly Pre-session log submitted Monday

The pre-session bias is a starting hypothesis not a commitment. The hardest skill in discretionary trading is recognizing when the market has invalidated your thesis mid-session, sizing down or stepping away entirely, and not forcing trades in a transitioning environment. This is taught from Week 2 and reinforced through every film review.

What gets taught

Phase 1
Weeks 1–3 · Foundation
Before you touch a single trade. The complete pitfall taxonomy and structural prevention system. Market regime, session structure, HTF bias. What a valid trade looks like. Paper trading begins. First funded account opened.
Phase 2
Weeks 4–9 · Execution and Review
Now we trade. Everything gets documented. Execution mechanics, the continuation model, first film review, psychological infrastructure, trade management. Week 9: the Forward Volatility Factor as a live case study systematic edge, mathematically defined.
Phase 3
Weeks 10–12 · Mastery and Independence
Your data tells you what no curriculum can. Personal edge identified from 60+ tagged trades. Scale and multi-account infrastructure. Week 12: personal playbook written, track record documented, clear plan for the next 12 months independently.
Always
The Pre-Session Process
Regime read. HTF bias. Top draws. Mental state. Max risk. Five questions answered before 9:30am, every session. A student with a written pre-session plan has a reference point to return to when things go wrong. This is the most protective habit we build.

Five spots.
One standard.

Trading rewards the prepared. Edgecomb Group is not a signal service or an indicator toolkit. It is a framework for serious aspiring traders who want to learn the craft correctly. This program builds the preparation the systems, the process, the documentation infrastructure, and the psychological framework that separates traders who last from those who don't. Profitability follows preparation. We focus on the preparation.

Strictly referral-based. Five spots. If you are ready to commit to daily attendance and twelve weeks of serious work, submit an inquiry and we will be in touch within 48 hours.

Educational Disclaimer: The Edgecomb Group mentorship program is provided for educational purposes only. Participation does not guarantee trading profitability or specific financial results. Past performance of any strategy discussed, including verified prop firm payouts referenced, is not indicative of future results. Trading futures and options involves substantial risk of loss. This program does not constitute investment advice.