Chi-squared stats indicate appropriateness of Johnson distributions for underlying asset returns, which is the key requirement to achieve correct option prices.
Significant absolute and risk-adjusted outperformance of benchmarks.
Significant Jensen Alpha Generation ("skill" component). Excess returns are not just driven by exposure.
Black-Scholes-Merton option pricing formulas are special cases of Johnson Call and Johnson Put and generalized to arbitrary asymmetry (skew) and tail fatness (excess kurtosis). As a result the volatility smile - a flaw in BSM - vanishes.
In particular far out-of-the-money options can be priced more accurately as likelihood to expire in-the-money appropriately determined by accounting for skewness and kurtosis.
Johnson Call and Put formulas applicable for "Market Making" purposes.
“There’s no such thing as a free lunch (Milton Friedman)”.
Johnson-Omega Option Pricing Universes:
Traditional Assets (equity, bond and commodities)
Alternative Assets (hedge funds, instead of “private equity, real estate”.