b > q/p

- b is the benefit to risk ratio
- q is the probability of loss
- p is the probability of success

c = q * w

- c is the even-money credit collected for the vertical.
- q is the probability of loss, as above.
- w is the price width between the strikes.

the criterion part of the kelly criterion is that the candidate trade must have an edge. the wiki page says that for the kelly number to be positive the following must be true:

b > q/p

- b is the benefit to risk ratio
- q is the probability of loss
- p is the probability of success

c = q * w

- c is the even-money credit collected for the vertical.
- q is the probability of loss, as above.
- w is the price width between the strikes.

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