A real backtest,
with every trade shown.

This page is one unedited run of the btoption engine, published so you can judge the output before running your own. Not a cherry-picked winner — a plain, well-known income strategy over 20 years, including 2008, 2020 and 2022. Every number below comes from this single run, and the full trade list is at the bottom.

The strategy, exactly

· Sell one 30-delta SPY put, targeting 45 DTE
· Close at 50% of max profit
· Otherwise close when the position reaches 21 DTE
· No stop loss — losses run until an exit rule fires
· Re-enter whenever flat · 1 contract throughout

Run on Sep 7, 2026 against SPY options data from Jan 3, 2007 to Sep 4, 2026. Fills cross 75% of each day's real bid-ask spread; no commissions are modeled — the methodology page spells out every assumption. The engine is deterministic: the same strategy over the same window reproduces exactly these trades.

Headline numbers

Total P&L (1 contract)

$35,132

Trades

485

Win rate

82.7%

Avg win

$198

Avg loss

−$525

Max drawdown

−$5,149

Read those numbers together, not separately. The win rate is high because selling 30-delta puts wins by construction most of the time — but the average loss is about 2.7× the average win, and the max drawdown (−$5,149, Feb 12, 2020 to Mar 27, 2020) is the price of running this strategy without a stop through a real crash. That trade-off is exactly what a backtest is for.

Cumulative P&L

Cumulative realized P&L in dollars, one short put contract, weekly resolution. Hover for exact values.

P&L by year

Year	P&L
2007	$826
2008	−$1,411
2009	$1,329
2010	$688
2011	$649
2012	$1,630
2013	$1,722
2014	$983
2015	$907
2016	$1,506
2017	$2,105
2018	−$2,135
2019	$3,323
2020	$617
2021	$5,791
2022	−$2,631
2023	$3,343
2024	$3,907
2025	$3,476
2026	$8,510

3 of 20 years finished negative (2008, 2018, 2022). That's the honest shape of short-put income: steady years punctuated by the ones that take it back.

Every trade (485)

The full, unfiltered trade log from this run. “Sold at” and “closed at” show the option's mid price on entry and exit day; the P&L column uses the engine's actual simulated fills, which cross 75% of the bid-ask spread — so the two can differ by a few dollars. That gap is the spread cost, shown rather than hidden.

#	Entry	Exit	Strike	Sold at	Closed at	DTE	P&L
1	2007-01-03	2007-01-12	139	1.17	0.53	45	$65
2	2007-01-12	2007-01-24	141	0.81	0.39	36	$43
3	2007-01-24	2007-02-14	142	1.21	0.57	52	$64
4	2007-02-14	2007-03-09	143	0.94	3.15	44	−$221
5	2007-03-09	2007-03-21	138	1.46	0.54	43	$93
6	2007-03-26	2007-04-13	141	1.52	0.74	54	$79
7	2007-04-13	2007-04-20	143	1.06	0.44	36	$63
8	2007-04-23	2007-05-09	146	1.73	0.82	54	$90
9	2007-05-09	2007-05-30	148	1.44	0.67	51	$76
10	2007-05-30	2007-07-02	150	1.46	1.12	52	$34
11	2007-07-02	2007-07-17	149	1.88	0.94	47	$94
12	2007-07-30	2007-09-04	143	2.61	1.16	54	$145
13	2007-09-04	2007-09-18	143	2.39	1.21	46	$118
14	2007-09-24	2007-10-05	147	2.34	1.01	54	$133
15	2007-10-05	2007-10-29	152	1.81	1.73	43	$7
16	2007-10-29	2007-12-03	149	2.58	3.91	54	−$134
17	2007-12-03	2007-12-10	141	2.57	1.12	47	$144
18	2007-12-10	2007-12-31	147	2.24	2.88	40	−$64
19	2007-12-31	2008-01-28	141	2.48	6.56	47	−$408
20	2008-01-28	2008-02-22	129	3.07	1.46	54	$162
21	2008-02-22	2008-03-10	130	2.08	4.71	38	−$263
22	2008-03-10	2008-03-18	122	2.68	0.98	40	$170
23	2008-03-24	2008-04-07	129	2.89	1.45	54	$144
24	2008-04-07	2008-04-18	132	2.10	1.02	40	$108
25	2008-04-28	2008-05-15	135	2.39	0.91	54	$148
26	2008-05-15	2008-06-09	138	1.78	3.71	46	−$193
27	2008-06-09	2008-06-30	131	2.09	4.07	40	−$199
28	2008-06-30	2008-07-22	123	2.31	1.15	47	$116
29	2008-07-28	2008-07-30	118	2.48	1.08	54	$140
30	2008-07-30	2008-08-22	124	2.33	0.99	52	$134
31	2008-08-22	2008-09-09	125	1.64	4.21	39	−$257
32	2008-09-09	2008-09-29	118	2.15	8.60	39	−$645
33	2008-09-29	2008-11-03	104	3.75	8.12	54	−$438
34	2008-11-03	2008-12-01	89	3.84	9.50	47	−$566
35	2008-12-01	2008-12-08	74	4.19	1.64	47	$255
36	2008-12-08	2008-12-29	83	3.54	1.70	40	$184
37	2008-12-29	2009-01-02	81	3.04	1.46	54	$158
38	2009-01-02	2009-02-02	87	2.71	5.47	50	−$277
39	2009-02-02	2009-03-02	77	2.87	7.35	47	−$449
40	2009-03-02	2009-03-12	65	2.65	0.82	47	$182
41	2009-03-12	2009-03-18	71	2.05	0.97	37	$108
42	2009-03-23	2009-04-09	77	2.91	1.10	54	$181
43	2009-04-09	2009-04-24	81	1.99	0.99	37	$100
44	2009-04-27	2009-05-04	81	2.85	1.35	54	$151
45	2009-05-04	2009-05-26	86	2.47	1.09	47	$138
46	2009-05-26	2009-06-02	87	1.70	0.76	35	$95
47	2009-06-02	2009-06-29	90	2.00	0.98	46	$102
48	2009-06-29	2009-07-20	88	1.78	0.63	54	$115
49	2009-07-27	2009-08-13	94	2.00	0.87	54	$113
50	2009-08-13	2009-08-26	98	1.67	0.80	37	$88
51	2009-08-26	2009-09-09	99	1.54	0.73	35	$81
52	2009-09-09	2009-09-16	99	1.47	0.67	38	$80
53	2009-09-28	2009-10-14	102	2.14	0.94	54	$120
54	2009-10-14	2009-11-02	105	1.48	2.71	38	−$123
55	2009-11-02	2009-11-09	99	2.18	0.65	47	$153
56	2009-11-09	2009-11-25	105	2.02	0.89	52	$113
57	2009-11-25	2009-12-21	107	1.82	0.82	52	$100
58	2009-12-28	2010-01-11	109	1.87	0.91	54	$96
59	2010-01-11	2010-02-01	111	1.28	2.94	40	−$166
60	2010-02-01	2010-02-18	105	1.94	0.81	47	$114
61	2010-02-18	2010-03-02	107	1.54	0.77	41	$78
62	2010-03-02	2010-03-10	108	1.50	0.74	46	$75
63	2010-03-10	2010-03-17	111	1.26	0.57	38	$68
64	2010-03-29	2010-04-09	114	1.77	0.83	54	$95
65	2010-04-09	2010-04-23	117	1.40	0.64	43	$77
66	2010-04-26	2010-06-01	117	1.67	10.21	54	−$855
67	2010-06-01	2010-06-11	101	2.67	1.33	46	$135
68	2010-06-11	2010-06-17	105	2.12	1.04	36	$108
69	2010-06-28	2010-07-13	102	2.44	1.23	54	$121
70	2010-07-13	2010-07-26	105	1.81	0.71	39	$110
71	2010-07-26	2010-08-30	107	2.25	3.63	54	−$138
72	2010-08-30	2010-09-02	100	2.27	0.98	47	$129
73	2010-09-02	2010-09-13	105	1.90	0.82	44	$108
74	2010-09-27	2010-10-08	109	1.95	0.98	54	$97
75	2010-10-08	2010-10-22	113	1.78	0.74	43	$104
76	2010-10-25	2010-11-04	114	1.94	0.80	54	$115
77	2010-11-04	2010-12-17	118	1.56	0.00	44	$156
78	2010-12-17	2010-12-29	121	1.21	0.57	35	$65
79	2010-12-29	2011-02-18	122	1.76	0.00	51	$176
80	2011-02-18	2011-03-10	131	1.48	3.25	41	−$177
81	2011-03-10	2011-03-24	125	1.80	0.61	37	$119
82	2011-03-28	2011-04-06	126	1.99	0.97	54	$102
83	2011-04-06	2011-04-21	130	1.71	0.85	45	$86
84	2011-04-25	2011-05-19	129	1.66	0.74	54	$91
85	2011-05-19	2011-06-09	131	1.52	3.29	42	−$177
86	2011-06-09	2011-06-27	125	1.41	1.15	37	$26
87	2011-06-27	2011-06-30	123	1.95	0.85	54	$110
88	2011-06-30	2011-07-07	128	1.67	0.80	51	$87
89	2011-07-07	2011-08-01	132	1.46	4.59	44	−$313
90	2011-08-01	2011-08-29	123	2.13	4.26	47	−$214
91	2011-08-29	2011-10-03	114	2.91	6.88	54	−$398
92	2011-10-03	2011-10-06	102	3.84	1.57	47	$227
93	2011-10-06	2011-10-13	110	3.10	1.47	44	$164
94	2011-10-13	2011-10-24	115	2.39	0.97	37	$142
95	2011-10-24	2011-10-26	119	3.04	0.00	54	$304
96	2011-10-26	2011-11-28	118	2.99	2.80	52	$18
97	2011-11-28	2011-12-01	112	2.94	1.46	54	$148
98	2011-12-01	2011-12-20	118	2.56	1.29	51	$127
99	2011-12-27	2012-01-10	121	2.30	1.07	53	$123
100	2012-01-10	2012-01-19	125	1.80	0.85	39	$95
101	2012-01-23	2012-02-03	127	2.15	0.98	54	$117
102	2012-02-03	2012-02-21	130	1.53	0.66	43	$88
103	2012-02-21	2012-03-08	132	1.56	0.76	38	$80
104	2012-03-08	2012-03-13	133	1.74	0.88	44	$86
105	2012-03-13	2012-03-26	136	1.40	0.46	39	$93
106	2012-03-26	2012-04-30	138	1.52	1.16	54	$36
107	2012-04-30	2012-05-29	135	1.71	2.90	47	−$119
108	2012-05-29	2012-06-18	128	2.17	0.99	53	$118
109	2012-06-25	2012-06-29	126	2.13	0.82	54	$131
110	2012-06-29	2012-07-18	132	1.79	0.83	50	$95
111	2012-07-30	2012-08-09	134	2.15	1.02	54	$113
112	2012-08-09	2012-09-06	136	1.64	0.40	50	$124
113	2012-09-06	2012-09-13	139	1.48	0.70	44	$77
114	2012-09-13	2012-10-01	142	1.19	0.97	37	$22
115	2012-10-01	2012-10-17	140	1.58	0.67	47	$91
116	2012-10-31	2012-11-23	136	2.08	0.89	52	$120
117	2012-11-23	2012-12-10	137	1.32	0.67	38	$66
118	2012-12-10	2012-12-18	138	1.49	0.73	40	$75
119	2012-12-20	2013-01-02	141	1.60	0.53	36	$107
120	2013-01-02	2013-01-17	142	1.42	0.55	45	$87
121	2013-01-17	2013-01-23	145	1.26	0.63	36	$63
122	2013-01-23	2013-02-11	146	1.63	0.76	52	$88
123	2013-02-11	2013-03-04	148	1.50	0.70	45	$79
124	2013-03-04	2013-03-11	149	1.56	0.69	47	$88
125	2013-03-11	2013-03-28	153	1.37	0.68	40	$69
126	2013-03-28	2013-04-11	153	1.56	0.69	51	$87
127	2013-04-11	2013-04-29	156	1.18	0.75	37	$43
128	2013-04-29	2013-05-07	155	1.88	0.90	54	$98
129	2013-05-07	2013-05-15	158	1.43	0.70	46	$72
130	2013-05-15	2013-06-03	162	1.40	1.68	38	−$28
131	2013-06-03	2013-07-01	159	1.96	1.38	47	$58
132	2013-07-01	2013-07-08	156	1.86	0.84	47	$102
133	2013-07-08	2013-07-11	160	1.57	0.77	40	$80
134	2013-07-11	2013-07-19	164	1.52	0.68	37	$83
135	2013-07-19	2013-08-02	166	1.29	0.44	35	$85
136	2013-08-02	2013-08-16	168	1.25	3.30	35	−$205
137	2013-08-16	2013-09-09	161	1.83	0.72	45	$111
138	2013-09-09	2013-09-16	163	1.87	0.92	40	$95
139	2013-09-19	2013-10-04	169	1.50	2.40	36	−$90
140	2013-10-04	2013-10-16	164	1.87	0.72	43	$115
141	2013-10-17	2013-10-25	169.5	1.32	0.58	36	$74
142	2013-10-25	2013-11-06	172.5	1.23	0.58	35	$65
143	2013-11-06	2013-11-15	173	1.73	0.83	45	$90
144	2013-11-15	2013-12-02	176	1.38	0.85	36	$53
145	2013-12-02	2013-12-20	175	1.62	0.69	47	$93
146	2013-12-20	2013-12-26	178	1.27	0.64	35	$63
147	2013-12-26	2014-01-10	180.5	1.26	0.69	36	$57
148	2014-01-10	2014-02-03	181	1.55	7.58	43	−$603
149	2014-02-03	2014-02-07	168	2.74	0.81	47	$193
150	2014-02-07	2014-02-14	175	1.89	0.76	43	$113
151	2014-02-14	2014-02-28	179.5	1.70	0.83	42	$87
152	2014-02-28	2014-03-20	181.5	1.67	0.84	42	$84
153	2014-03-20	2014-04-02	183	1.87	0.92	43	$95
154	2014-04-02	2014-04-21	185	1.52	1.26	37	$26
155	2014-04-21	2014-05-05	183	1.60	0.80	39	$80
156	2014-05-05	2014-05-21	184	1.52	0.66	39	$87
157	2014-05-21	2014-05-29	185	1.64	0.68	40	$96
158	2014-05-29	2014-06-06	188.5	1.42	0.51	35	$91
159	2014-06-06	2014-06-20	191	1.46	0.69	43	$76
160	2014-06-20	2014-07-03	192	1.29	0.51	42	$78
161	2014-07-03	2014-07-18	195	1.14	1.06	36	$8
162	2014-07-18	2014-08-08	193.5	1.52	2.82	42	−$129
163	2014-08-08	2014-08-14	187	2.41	1.07	49	$134
164	2014-08-14	2014-08-21	191	1.73	0.78	43	$95
165	2014-08-21	2014-09-05	195.5	1.48	0.59	36	$89
166	2014-09-05	2014-09-19	196.5	1.34	0.71	35	$64
167	2014-09-19	2014-10-03	197	1.31	2.56	35	−$126
168	2014-10-03	2014-10-17	192	1.75	5.28	35	−$354
169	2014-10-17	2014-10-21	183	2.50	0.95	36	$156
170	2014-10-21	2014-10-28	189	2.09	0.79	38	$130
171	2014-10-28	2014-11-05	193.5	1.79	0.84	38	$94
172	2014-11-05	2014-11-18	197	2.27	0.96	45	$131
173	2014-11-18	2014-11-26	200.5	1.70	0.83	38	$88
174	2014-11-26	2014-12-19	202.5	1.74	1.31	44	$43
175	2014-12-19	2015-01-02	202	1.95	1.62	35	$33
176	2015-01-02	2015-01-26	200	2.69	1.26	49	$143
177	2015-01-26	2015-02-12	200.5	2.04	0.71	39	$133
178	2015-02-12	2015-02-24	203	2.50	1.09	47	$140
179	2015-02-24	2015-03-27	206	2.39	2.84	52	−$45
180	2015-03-27	2015-04-09	200	2.49	1.06	49	$142
181	2015-04-09	2015-04-23	203.5	2.19	1.05	50	$114
182	2015-04-23	2015-05-14	206.5	1.86	0.85	43	$101
183	2015-05-14	2015-06-05	206.5	2.04	1.78	43	$27
184	2015-06-05	2015-06-18	203	2.26	1.11	49	$115
185	2015-06-18	2015-07-06	208	2.00	3.58	36	−$158
186	2015-07-06	2015-07-13	200.5	2.39	0.94	39	$145
187	2015-07-13	2015-07-17	205	1.99	1.00	39	$100
188	2015-07-17	2015-08-07	208	1.74	2.48	42	−$74
189	2015-08-07	2015-08-17	203.5	1.80	0.75	35	$105
190	2015-08-17	2015-09-04	205	2.03	13.12	39	−$1,109
191	2015-09-04	2015-09-15	184	3.63	1.35	42	$228
192	2015-09-15	2015-10-02	190.5	2.80	2.22	38	$58
193	2015-10-02	2015-10-07	188.5	2.63	1.16	35	$147
194	2015-10-07	2015-10-15	193.5	2.43	1.07	37	$136
195	2015-10-15	2015-10-23	196.5	2.21	0.83	43	$138
196	2015-10-23	2015-11-02	203	1.79	0.84	35	$95
197	2015-11-02	2015-11-20	205.5	1.97	1.46	39	$51
198	2015-11-20	2015-12-10	203	2.36	2.78	41	−$42
199	2015-12-10	2015-12-29	197.5	2.97	1.10	50	$187
200	2015-12-29	2016-01-29	201	2.67	8.15	52	−$548
201	2016-01-29	2016-02-12	187.5	2.45	4.53	35	−$208
202	2016-02-12	2016-02-17	177.5	3.60	1.71	49	$189
203	2016-02-17	2016-03-01	185	3.09	0.98	44	$211
204	2016-03-01	2016-03-11	191	2.35	0.86	38	$149
205	2016-03-11	2016-03-18	195	2.61	1.31	49	$131
206	2016-03-18	2016-03-30	200	1.81	0.79	35	$103
207	2016-03-30	2016-04-13	201.5	1.79	0.83	37	$95
208	2016-04-13	2016-05-06	202.5	2.01	1.58	44	$42
209	2016-05-06	2016-05-20	200.5	1.85	1.06	35	$79
210	2016-05-20	2016-05-25	199	2.33	1.04	41	$129
211	2016-05-25	2016-06-06	204	1.90	0.93	36	$97
212	2016-06-06	2016-06-24	206	1.88	4.77	39	−$289
213	2016-06-24	2016-06-29	197	2.81	1.13	35	$168
214	2016-06-29	2016-07-06	201	2.13	1.04	37	$109
215	2016-07-06	2016-07-11	204.5	1.93	0.83	37	$109
216	2016-07-11	2016-07-20	208.5	2.04	0.92	46	$113
217	2016-07-20	2016-08-05	213	1.59	0.63	37	$96
218	2016-08-05	2016-09-02	212.5	2.03	0.90	49	$113
219	2016-09-02	2016-09-23	212.5	1.78	1.12	42	$65
220	2016-09-23	2016-10-14	211	1.89	1.68	42	$21
221	2016-10-14	2016-11-04	208	2.29	3.95	42	−$166
222	2016-11-04	2016-11-08	200	3.31	1.51	49	$180
223	2016-11-08	2016-11-15	208	2.54	0.93	38	$162
224	2016-11-15	2016-11-22	213	2.06	1.01	38	$105
225	2016-11-22	2016-12-06	215.5	1.60	0.74	36	$86
226	2016-12-06	2016-12-09	216.5	1.60	0.74	36	$86
227	2016-12-09	2016-12-20	221	1.53	0.73	35	$79
228	2016-12-20	2017-01-04	222.5	1.52	0.83	36	$69
229	2017-01-04	2017-01-20	222.5	1.62	0.85	37	$78
230	2017-01-20	2017-02-03	222.5	1.73	0.62	42	$110
231	2017-02-03	2017-02-13	225	1.83	0.86	42	$98
232	2017-02-13	2017-02-21	228	1.59	0.78	39	$81
233	2017-02-21	2017-03-03	232	1.67	0.84	38	$84
234	2017-03-03	2017-03-30	233	1.88	0.89	49	$99
235	2017-03-30	2017-04-21	232	1.80	1.89	43	−$9
236	2017-04-21	2017-04-24	230	2.09	0.95	42	$115
237	2017-04-24	2017-05-08	233.5	1.48	0.55	39	$93
238	2017-05-08	2017-05-25	234	1.88	0.92	53	$97
239	2017-05-25	2017-06-13	237	1.57	0.60	43	$97
240	2017-06-13	2017-06-28	240	1.45	0.81	36	$64
241	2017-06-28	2017-07-14	239	1.78	0.83	51	$96
242	2017-07-14	2017-08-07	242	1.69	0.71	49	$98
243	2017-08-07	2017-09-01	242.5	1.71	0.68	46	$104
244	2017-09-01	2017-09-13	242.5	1.66	0.82	42	$84
245	2017-09-13	2017-09-28	245	1.71	0.86	44	$86
246	2017-09-28	2017-10-05	246	1.86	0.88	50	$99
247	2017-10-05	2017-10-27	251	1.47	0.61	43	$87
248	2017-10-27	2017-11-06	254	1.41	0.69	35	$72
249	2017-11-06	2017-11-27	254	2.13	1.04	53	$109
250	2017-11-27	2017-12-08	255	1.99	0.89	53	$111
251	2017-12-08	2017-12-18	261	1.40	0.52	35	$88
252	2017-12-18	2018-01-03	265	1.46	0.55	39	$92
253	2018-01-03	2018-01-11	266	1.51	0.72	44	$80
254	2018-01-11	2018-01-23	272	1.91	0.87	50	$104
255	2018-01-23	2018-02-23	277	2.27	4.88	52	−$261
256	2018-02-23	2018-03-09	267.5	2.65	1.00	42	$165
257	2018-03-09	2018-03-23	272.5	2.12	14.30	35	−$1,218
258	2018-03-23	2018-03-26	250	3.84	1.79	38	$205
259	2018-03-26	2018-04-12	258	3.33	1.60	39	$174
260	2018-04-12	2018-04-17	259.5	3.21	1.44	43	$177
261	2018-04-17	2018-05-02	265	2.20	3.99	36	−$179
262	2018-05-02	2018-05-09	258	2.37	0.78	35	$159
263	2018-05-09	2018-05-21	262	2.85	1.38	51	$148
264	2018-05-21	2018-06-05	267	2.15	1.08	39	$108
265	2018-06-05	2018-06-14	269	1.93	0.88	38	$105
266	2018-06-14	2018-07-06	273	2.07	1.87	43	$21
267	2018-07-06	2018-07-16	269	2.49	1.19	49	$130
268	2018-07-16	2018-08-02	274	2.19	1.00	46	$119
269	2018-08-02	2018-08-20	275	2.17	1.06	50	$111
270	2018-08-20	2018-08-27	280	1.74	0.82	35	$91
271	2018-08-27	2018-09-19	283	2.46	1.16	53	$130
272	2018-09-19	2018-10-03	286	1.78	0.98	35	$80
273	2018-10-03	2018-10-19	287	2.21	10.76	37	−$856
274	2018-10-19	2018-11-07	269	3.48	1.12	42	$237
275	2018-11-07	2018-11-23	274	2.86	11.47	37	−$861
276	2018-11-23	2018-11-28	254	3.73	1.23	42	$250
277	2018-11-28	2018-12-28	265	3.85	18.28	51	−$1,442
278	2018-12-28	2019-01-04	237	4.69	1.92	42	$277
279	2019-01-04	2019-01-10	244	3.81	1.77	42	$204
280	2019-01-10	2019-01-18	251.5	3.47	1.39	43	$208
281	2019-01-18	2019-01-31	260	2.63	1.13	35	$150
282	2019-01-31	2019-02-12	264	2.77	1.07	36	$170
283	2019-02-12	2019-02-22	267	3.01	1.37	45	$164
284	2019-02-22	2019-03-13	272	2.52	1.02	42	$149
285	2019-03-13	2019-04-01	275	2.46	0.88	44	$158
286	2019-04-01	2019-04-12	280	2.77	1.21	46	$157
287	2019-04-12	2019-04-29	285	2.32	1.10	42	$123
288	2019-04-29	2019-05-17	289	2.35	5.07	39	−$273
289	2019-05-17	2019-06-07	278	3.33	1.54	42	$179
290	2019-06-07	2019-06-18	280	2.84	1.30	35	$155
291	2019-06-18	2019-07-01	284	3.23	1.44	45	$179
292	2019-07-01	2019-07-12	289	2.92	1.25	46	$168
293	2019-07-12	2019-08-02	295	2.49	5.25	42	−$276
294	2019-08-02	2019-08-19	285	3.34	1.81	38	$152
295	2019-08-19	2019-09-03	285	3.25	3.12	35	$13
296	2019-09-03	2019-09-05	281	3.93	1.77	38	$216
297	2019-09-05	2019-09-19	288	3.70	1.73	50	$196
298	2019-09-19	2019-10-04	294	2.71	4.17	36	−$146
299	2019-10-04	2019-10-15	286	3.73	1.22	42	$252
300	2019-10-15	2019-10-28	293	2.85	1.14	38	$172
301	2019-10-28	2019-11-12	295	3.34	1.65	53	$169
302	2019-11-12	2019-11-25	301	2.96	1.35	45	$160
303	2019-11-25	2019-12-09	307	2.41	2.10	35	$31
304	2019-12-09	2019-12-16	305	3.53	1.37	46	$217
305	2019-12-16	2020-01-02	313.5	2.53	0.95	39	$158
306	2020-01-02	2020-01-16	317	2.81	1.06	43	$176
307	2020-01-16	2020-01-31	325	2.41	6.72	36	−$431
308	2020-01-31	2020-02-04	312	3.87	1.54	35	$234
309	2020-02-04	2020-02-12	320	3.79	1.54	45	$226
310	2020-02-12	2020-03-10	329	3.30	44.69	48	−$4,139
311	2020-03-10	2020-03-27	266	9.49	19.59	38	−$1,010
312	2020-03-27	2020-04-06	235	10.93	3.79	35	$714
313	2020-04-06	2020-04-14	247	8.06	2.77	39	$529
314	2020-04-14	2020-04-29	267.5	7.81	2.92	45	$489
315	2020-04-29	2020-05-13	281	5.59	8.88	35	−$328
316	2020-05-13	2020-05-18	263	7.82	3.00	48	$482
317	2020-05-18	2020-06-01	283	5.82	2.60	39	$323
318	2020-06-01	2020-06-05	291	6.42	2.92	46	$350
319	2020-06-05	2020-06-19	307	4.77	7.27	35	−$250
320	2020-06-19	2020-07-01	295	6.47	3.12	38	$335
321	2020-07-01	2020-07-15	300	5.40	2.08	35	$331
322	2020-07-15	2020-07-29	310	5.46	2.16	35	$331
323	2020-07-29	2020-08-10	311	6.17	3.08	51	$309
324	2020-08-10	2020-08-24	325	4.39	1.65	35	$274
325	2020-08-24	2020-09-09	331	4.67	4.79	37	−$13
326	2020-09-09	2020-10-02	325	6.61	4.21	44	$240
327	2020-10-02	2020-10-08	320	6.36	3.17	35	$319
328	2020-10-08	2020-10-30	329	6.59	12.98	43	−$639
329	2020-10-30	2020-11-04	307.5	7.78	2.29	35	$549
330	2020-11-04	2020-11-09	330	6.21	2.20	35	$401
331	2020-11-09	2020-11-24	343	5.98	2.81	45	$317
332	2020-11-24	2020-12-16	349	6.29	2.89	52	$340
333	2020-12-16	2021-01-04	358	5.02	3.80	37	$122
334	2021-01-04	2021-01-08	354	6.74	3.12	46	$361
335	2021-01-08	2021-02-04	367	5.90	2.27	49	$363
336	2021-02-04	2021-02-24	369	6.50	2.95	50	$355
337	2021-02-24	2021-03-11	379	5.15	2.97	36	$218
338	2021-03-11	2021-03-30	378	6.36	3.15	50	$321
339	2021-03-30	2021-04-05	383	4.67	2.04	38	$263
340	2021-04-05	2021-04-15	395	4.87	2.37	46	$250
341	2021-04-15	2021-05-07	405	4.51	1.76	43	$275
342	2021-05-07	2021-05-21	412	4.15	4.94	35	−$79
343	2021-05-21	2021-05-28	401	5.61	2.65	42	$296
344	2021-05-28	2021-06-22	408	4.96	2.04	49	$292
345	2021-06-22	2021-07-01	412	4.21	1.98	38	$223
346	2021-07-01	2021-07-23	419	4.05	1.37	43	$268
347	2021-07-23	2021-08-11	427	4.76	2.01	42	$275
348	2021-08-11	2021-08-27	431	5.08	2.27	44	$281
349	2021-08-27	2021-09-10	439	4.01	4.96	35	−$96
350	2021-09-10	2021-10-08	430	6.49	4.01	49	$248
351	2021-10-08	2021-10-18	423	6.02	2.77	49	$324
352	2021-10-18	2021-10-26	436	4.58	2.28	39	$230
353	2021-10-26	2021-11-04	446	4.40	2.19	38	$221
354	2021-11-04	2021-11-26	454	5.27	7.54	43	−$227
355	2021-11-26	2021-12-07	443	6.90	3.20	35	$371
356	2021-12-07	2021-12-22	451	6.47	3.19	38	$328
357	2021-12-22	2021-12-28	454	5.74	2.66	37	$308
358	2021-12-28	2022-01-12	465	4.67	4.39	36	$28
359	2022-01-12	2022-02-04	457	5.64	11.22	44	−$558
360	2022-02-04	2022-02-22	435	6.48	12.21	38	−$573
361	2022-02-22	2022-03-10	411	8.04	6.83	37	$121
362	2022-03-10	2022-03-17	404	8.91	3.65	43	$526
363	2022-03-17	2022-03-24	422	7.64	3.75	43	$389
364	2022-03-24	2022-03-29	435	5.95	2.56	36	$338
365	2022-03-29	2022-04-18	448	5.55	14.30	38	−$875
366	2022-04-18	2022-05-06	421	6.72	16.01	39	−$929
367	2022-05-06	2022-05-20	394	7.66	13.04	35	−$538
368	2022-05-20	2022-05-26	370	7.71	3.12	41	$459
369	2022-05-26	2022-06-07	387	8.38	4.05	50	$433
370	2022-06-07	2022-07-01	398	7.27	18.96	45	−$1,170
371	2022-07-01	2022-07-15	367	6.58	3.00	35	$358
372	2022-07-15	2022-07-21	371	6.00	2.52	35	$349
373	2022-07-21	2022-07-29	383	6.70	2.49	43	$421
374	2022-07-29	2022-08-12	398	6.83	2.40	49	$443
375	2022-08-12	2022-08-29	413	5.08	14.17	38	−$908
376	2022-08-29	2022-09-12	387	6.63	2.91	39	$372
377	2022-09-12	2022-10-07	394	6.95	32.18	46	−$2,523
378	2022-10-07	2022-10-21	345	8.02	3.49	49	$454
379	2022-10-21	2022-10-28	359	7.50	2.81	42	$469
380	2022-10-28	2022-11-10	375	6.33	2.58	38	$375
381	2022-11-10	2022-11-22	378	7.19	3.49	50	$370
382	2022-11-22	2022-12-01	387	5.52	2.55	38	$298
383	2022-12-01	2022-12-30	393	6.35	13.92	50	−$757
384	2022-12-30	2023-01-10	369	5.83	2.43	42	$340
385	2023-01-10	2023-01-13	379	5.58	2.52	38	$307
386	2023-01-13	2023-01-27	389	4.55	1.83	35	$272
387	2023-01-27	2023-02-15	395	5.79	2.83	49	$297
388	2023-02-15	2023-03-10	401	5.53	19.04	44	−$1,351
389	2023-03-10	2023-03-16	371	6.14	2.75	35	$340
390	2023-03-16	2023-03-29	383	6.21	2.71	43	$350
391	2023-03-29	2023-04-11	390	6.25	3.08	51	$318
392	2023-04-11	2023-04-28	400	5.60	2.25	45	$335
393	2023-04-28	2023-05-12	407	4.05	3.64	35	$42
394	2023-05-12	2023-05-18	402	4.70	2.34	35	$236
395	2023-05-18	2023-06-02	410	4.75	1.55	43	$320
396	2023-06-02	2023-06-13	418	4.29	2.10	49	$219
397	2023-06-13	2023-06-30	427	4.10	1.22	45	$289
398	2023-06-30	2023-07-13	437.5	3.22	1.38	35	$185
399	2023-07-13	2023-07-31	442.5	4.25	2.02	50	$224
400	2023-07-31	2023-08-25	449	4.37	10.26	46	−$589
401	2023-08-25	2023-08-29	432	4.39	2.10	35	$230
402	2023-08-29	2023-09-29	439	4.83	12.76	52	−$793
403	2023-09-29	2023-10-10	419	4.83	2.01	35	$282
404	2023-10-10	2023-11-03	426	5.04	2.12	45	$292
405	2023-11-03	2023-11-10	428	3.98	1.98	35	$201
406	2023-11-10	2023-11-15	431	4.11	1.97	42	$214
407	2023-11-15	2023-11-27	441	4.06	1.89	44	$217
408	2023-11-27	2023-12-08	447	3.40	1.66	39	$174
409	2023-12-08	2023-12-13	452.5	3.33	1.25	35	$209
410	2023-12-13	2023-12-26	462	3.72	1.85	44	$187
411	2023-12-26	2024-01-10	470	3.78	2.29	36	$150
412	2024-01-10	2024-01-23	470	4.60	2.01	50	$260
413	2024-01-23	2024-02-07	477	4.49	1.59	52	$290
414	2024-02-07	2024-02-22	490	4.18	1.94	44	$223
415	2024-02-22	2024-03-04	499	3.93	1.92	35	$200
416	2024-03-04	2024-03-20	504	4.07	1.35	39	$271
417	2024-03-20	2024-04-05	513	4.04	4.27	37	−$23
418	2024-04-05	2024-04-19	509	4.78	16.20	35	−$1,142
419	2024-04-19	2024-04-23	483	6.09	2.37	42	$372
420	2024-04-23	2024-05-03	497	4.93	2.12	38	$281
421	2024-05-03	2024-05-09	503	4.73	2.31	42	$243
422	2024-05-09	2024-05-15	510	4.81	2.29	50	$252
423	2024-05-15	2024-05-31	522	3.88	4.97	37	−$109
424	2024-05-31	2024-06-05	515	4.09	1.83	35	$227
425	2024-06-05	2024-06-12	524	3.94	1.75	37	$219
426	2024-06-12	2024-06-27	532	4.06	2.04	44	$203
427	2024-06-27	2024-07-08	539	5.20	2.58	50	$263
428	2024-07-08	2024-07-26	548	4.25	8.75	39	−$451
429	2024-07-26	2024-08-09	535	5.62	9.30	35	−$368
430	2024-08-09	2024-08-14	517	7.46	3.43	49	$403
431	2024-08-14	2024-08-19	532.5	6.12	2.56	44	$356
432	2024-08-19	2024-09-09	548	5.15	9.70	42	−$456
433	2024-09-09	2024-09-13	531	8.03	3.54	52	$449
434	2024-09-13	2024-09-24	548	6.24	2.94	48	$331
435	2024-09-24	2024-10-11	561	5.14	2.50	38	$264
436	2024-10-11	2024-11-06	566	7.57	1.79	49	$578
437	2024-11-06	2024-11-13	581	5.44	2.62	37	$282
438	2024-11-13	2024-11-29	587.5	5.37	2.68	44	$269
439	2024-11-29	2024-12-20	592.5	4.85	7.45	42	−$260
440	2024-12-20	2024-12-24	580	5.98	2.67	35	$331
441	2024-12-24	2025-01-10	590	5.17	13.45	38	−$828
442	2025-01-10	2025-01-15	567	7.91	3.44	49	$447
443	2025-01-15	2025-01-22	584	5.65	2.23	37	$343
444	2025-01-22	2025-02-07	598	5.31	6.00	37	−$70
445	2025-02-07	2025-02-18	589	6.50	3.19	42	$331
446	2025-02-18	2025-03-07	597.5	5.34	25.10	38	−$1,976
447	2025-03-07	2025-03-21	558	8.07	7.50	35	$57
448	2025-03-21	2025-04-11	549	7.42	23.15	42	−$1,573
449	2025-04-11	2025-04-24	509	13.74	5.16	49	$858
450	2025-04-24	2025-05-02	527	9.69	3.88	43	$581
451	2025-05-02	2025-05-12	548	9.63	3.75	49	$588
452	2025-05-12	2025-06-02	565	7.69	3.43	49	$427
453	2025-06-02	2025-06-23	576	8.07	3.85	46	$422
454	2025-06-23	2025-06-26	584	7.36	3.54	39	$382
455	2025-06-26	2025-07-03	600	6.16	2.98	36	$318
456	2025-07-03	2025-07-23	611	7.32	3.19	50	$414
457	2025-07-23	2025-08-08	622	6.05	3.29	37	$276
458	2025-08-08	2025-08-22	620	6.82	3.35	49	$346
459	2025-08-22	2025-09-05	632.5	5.28	3.52	35	$176
460	2025-09-05	2025-09-18	632	6.33	2.72	42	$361
461	2025-09-18	2025-10-06	647	6.75	3.10	43	$365
462	2025-10-06	2025-10-24	658	6.69	3.00	39	$368
463	2025-10-24	2025-11-14	664	7.05	6.92	42	$13
464	2025-11-14	2025-11-26	654	9.29	4.63	47	$466
465	2025-11-26	2025-12-10	664	7.56	3.72	44	$384
466	2025-12-10	2026-01-05	672	8.15	3.83	51	$432
467	2026-01-05	2026-02-02	674	8.12	3.89	53	$424
468	2026-02-02	2026-02-27	679	8.29	8.85	46	−$56
469	2026-02-27	2026-03-20	665	8.99	24.01	42	−$1,502
470	2026-03-20	2026-04-01	623	12.16	5.96	41	$620
471	2026-04-01	2026-04-08	636	10.05	4.32	37	$573
472	2026-04-08	2026-04-14	656	9.83	4.43	44	$540
473	2026-04-14	2026-04-27	678	8.73	3.87	45	$486
474	2026-04-27	2026-05-08	695	9.81	4.33	52	$548
475	2026-05-08	2026-05-22	722	7.46	3.30	35	$416
476	2026-05-22	2026-05-28	727	7.60	0.00	39	$760
477	2026-05-29	2026-06-22	740	7.53	6.94	42	$59
478	2026-06-22	2026-06-25	728	8.06	0.00	39	$806
479	2026-06-26	2026-07-06	711	8.00	2.57	42	$543
480	2026-07-06	2026-07-22	737	7.23	0.00	39	$723
481	2026-07-23	2026-07-31	721	8.45	4.19	39	$426
482	2026-07-31	2026-08-05	729	8.75	4.33	49	$441
483	2026-08-05	2026-08-18	753	8.04	0.00	44	$805
484	2026-08-19	2026-08-21	753	7.45	0.00	42	$745
485	2026-08-24	2026-09-02	748	7.22	0.00	37	$722

Now change one rule and see what happens.

Add a stop loss. Try 20 delta. Roll at 21 DTE instead of closing. The point of this page isn't the strategy — it's that you can test yours the same way, free, in about a minute.

Run your own backtest →