
Alpaca Reflex is an event-to-options operating system on Alpaca paper. Cartridges convert market events into evidence packets. Official `alpaca-mcp-server` is used in-process for account/clock reads (no trading toolset). A provider-neutral LLM — only when four explicit `REFLEX_LLM_*` variables are set — or an honest deterministic policy proposes CALL, PUT, or PASS. The selector computes a contract budget first and searches farther OTM for a liquid, affordable contract instead of offering an ATM name RiskGate would reject. RiskGate independently enforces a 2% daily loss stop, min(1%, $1,000) per trade, 5% aggregate premium, five positions, one underlying, cooldowns, duplicate hashes, and limit-only long singles. The executor cannot fire without an ApprovalPermit. No live trading.
4 Sep 2026