How far back do the backtests go?
E.g. if they only cover the past several years (a historic bull market) then a strategy of leveraging synthetic longs on tech stocks probably beats everything else. However, we don't get to relive the past and the market has been known to rotate sectors, bear/bull conditions, bubbles and panics, etc. Chasing strategies that worked in the past is as dangerous as chasing the unicorn stocks of any givrn era. Do your backtests cover all historical conditions, or account for conditions that have not yet happened, but could?
Second, not all risk is equal. The risk of an index fund losing 25% occurs in the same scenario as some options strategies losing 250%.
Last, if this is truly a durable oportunity to generate alpha and not a coincidence of past returns, why has a hedge fund not yet identified this algorithm and arbitraged it away?
You don't owe me answers to these questions, you owe answers to yourself.