Most options traders manage risk trade by trade. Ad Astra Trading was built on a different premise: that the principles institutional risk managers use to govern large, complex portfolios can be applied to individual options trading to produce clearer decisions, better structure, and long-term consistency.

That premise is the foundation of the Ad Astra Options Risk Framework.

The Framework

The Ad Astra Options Risk Framework is a 12-module system that applies enterprise risk management principles to options trading. It is not a strategy. It is the governance layer that interweaves with your strategy, connecting individual trade decisions to portfolio-level objectives, risk appetite, and long-term goals.

Each module builds on the last. The workbooks produce output artifacts you keep and revisit. The tools make the concepts operational. The courses bring it all together.

The goal is not to predict markets. It is to make decisions that hold up regardless of what markets do.

The Background

Chris Landry is the founder of Ad Astra Trading and a full-time options trader with more than 20 years in banking and enterprise risk management. That background shapes everything here: the emphasis on process over prediction, structure over intuition, and survival over short-term returns.

The foundational essays on Substack are free and always will be. The workbooks, tools, and courses are for traders who want to put the framework into practice.

The Philosophy

Survival first. Returns second. Risk is not something to minimize. It is something to understand, define, and manage with intention.