This report shows one strategy only: a paper/research SPY 0DTE defined-risk spread strategy using $8-wide wings and a 40% account-risk cap. It does not include alternate variants or optimizer comparisons.
Paper / Research
Defined Risk
InstrumentSPY 0DTE options
Same-day SPY call and put credit spreads from ThetaData bid/ask snapshots.
StructureShort credit spreads
Main trades use 10 bp OTM shorts; RSI follow-up/standalone trades use 0 bp shorts.
Risk Sizing40% risk-cap only
No fixed contract target. Contracts are sized by quote-specific max risk and account equity.
Wings$8 wide
The long option is $8 away from the short option to cap downside.
Entries10:30 ET + RSI ladder
Main lane uses the morning direction signal; follow-up/standalone lanes require RSI extremes.
ExitsProfit exits or timed close
Trades close on profit target when hit, otherwise by the strategy's same-day close rule.
Backtest Window2023-01-03 to 2026-05-19
Starting Equity$10,000.00
Final Equity$40,857.00
Total Return308.57%
Max Drawdown-27.48%
Trades84
Win Rate77.38%
Net PnL$30,857.00
Gross Credit Sold$127,758.00
Largest Contracts32
Largest Risk Used39.99%
Worst Trade$-7,350.00
Performance
Blue is the strategy equity curve. Gray is SPY buy-and-hold normalized to the same starting equity.
Trade Mix
| Leg Type | Trades | Share |
|---|---|---|
| initial call spread | 34 | 40.48% |
| initial put spread | 30 | 35.71% |
| followup put spread | 7 | 8.33% |
| standalone q82 put spread | 5 | 5.95% |
| followup call spread | 4 | 4.76% |
| standalone q82 call spread | 4 | 4.76% |
42 call-spread trades and 42 put-spread trades. 65 winners, 19 losers.
Yearly Results
| Year | Trades | PnL | Ending Equity | Year Return | Win Rate |
|---|---|---|---|---|---|
| 2023 | 12 | $2,263.00 | $12,263.00 | 22.63% | 91.67% |
| 2024 | 28 | $4,155.00 | $16,418.00 | 33.88% | 78.57% |
| 2025 | 29 | $21,742.00 | $38,160.00 | 132.43% | 75.86% |
| 2026 | 15 | $2,697.00 | $40,857.00 | 7.07% | 66.67% |
Historical Trade Log
Prices are option prices per share. Cash values use the standard 100-share option multiplier. Full CSV: thetadata_spy_v12_enhanced_equity_scaled_40risk_risk_only_trades.csv.
| # | Date | Entry | Close | Trade | Contracts | Credit / Share | Close Debit | Max Risk | Risk Used | PnL | Close Reason | Option Legs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2023-03-08 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 5 | $0.59 | $0.19 | $3,705.00 | 37.05% | $200.00 | call profit target 50% | STO 2023-03-08 400C @ 0.60; BTO 2023-03-08 408C @ 0.01 |
| 2 | 2023-03-15 | 12:30:00 | 14:00:00 | put standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 5 | $1.11 | $0.51 | $3,445.00 | 33.77% | $300.00 | put profit target 50% | STO 2023-03-15 384P @ 1.17; BTO 2023-03-15 376P @ 0.06 |
| 3 | 2023-03-17 | 10:30:00 | 15:30:00 | put first, 10 bp OTM, $8-wide wings | 5 | $0.96 | $0.41 | $3,520.00 | 33.52% | $275.00 | put profit target 50% | STO 2023-03-17 390P @ 1.00; BTO 2023-03-17 382P @ 0.04 |
| 4 | 2023-04-05 | 10:30:00 | 14:00:00 | put first, 10 bp OTM, $8-wide wings | 5 | $0.48 | $0.16 | $3,760.00 | 34.90% | $160.00 | put profit target 50% | STO 2023-04-05 406P @ 0.50; BTO 2023-04-05 398P @ 0.02 |
| 5 | 2023-05-02 | 10:30:00 | 15:00:00 | put first, 10 bp OTM, $8-wide wings | 5 | $0.62 | $0.19 | $3,690.00 | 33.74% | $215.00 | put profit target 50% | STO 2023-05-02 410P @ 0.64; BTO 2023-05-02 402P @ 0.02 |
| 6 | 2023-05-04 | 10:30:00 | 13:00:00 | put first, 10 bp OTM, $8-wide wings | 6 | $0.99 | $0.23 | $4,206.00 | 37.72% | $456.00 | put profit target 50% | STO 2023-05-04 403P @ 1.04; BTO 2023-05-04 395P @ 0.05 |
| 7 | 2023-05-26 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.67 | $0.53 | $4,398.00 | 37.89% | $84.00 | call timed close 15:45:00 | STO 2023-05-26 420C @ 0.68; BTO 2023-05-26 428C @ 0.01 |
| 8 | 2023-09-08 | 10:30:00 | 11:00:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.49 | $0.21 | $4,206.00 | 35.98% | $168.00 | call profit target 50% | STO 2023-09-08 447.5C @ 0.50; BTO 2023-09-08 455C @ 0.01 |
| 9 | 2023-10-16 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.56 | $0.10 | $4,464.00 | 37.65% | $276.00 | call profit target 50% | STO 2023-10-16 437C @ 0.57; BTO 2023-10-16 445C @ 0.01 |
| 10 | 2023-10-20 | 10:30:00 | 13:00:00 | put first, 10 bp OTM, $8-wide wings | 6 | $0.80 | $0.33 | $4,320.00 | 35.60% | $282.00 | put profit target 50% | STO 2023-10-20 422P @ 0.83; BTO 2023-10-20 414P @ 0.03 |
| 11 | 2023-11-01 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 7 | $1.20 | $0.57 | $4,760.00 | 38.34% | $441.00 | call profit target 50% | STO 2023-11-01 422C @ 1.21; BTO 2023-11-01 430C @ 0.01 |
| 12 | 2023-11-02 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.64 | $1.63 | $4,416.00 | 34.35% | $-594.00 | call timed close 15:45:00 | STO 2023-11-02 429C @ 0.65; BTO 2023-11-02 437C @ 0.01 |
| 13 | 2024-03-08 | 13:00:00 | 14:30:00 | put standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 6 | $0.83 | $0.25 | $4,302.00 | 35.08% | $348.00 | put profit target 50% | STO 2024-03-08 512P @ 0.86; BTO 2024-03-08 504P @ 0.03 |
| 14 | 2024-03-12 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.75 | $0.34 | $4,350.00 | 34.49% | $246.00 | call profit target 50% | STO 2024-03-12 516C @ 0.76; BTO 2024-03-12 524C @ 0.01 |
| 15 | 2024-04-19 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 7 | $0.94 | $2.69 | $4,942.00 | 38.44% | $-1,225.00 | put timed close 15:45:00 | STO 2024-04-19 497P @ 1.02; BTO 2024-04-19 489P @ 0.08 |
| 16 | 2024-04-30 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 6 | $0.71 | $2.65 | $4,374.00 | 37.60% | $-1,164.00 | put timed close 15:45:00 | STO 2024-04-30 507P @ 0.75; BTO 2024-04-30 499P @ 0.04 |
| 17 | 2024-06-12 | 10:30:00 | 15:00:00 | call first, 10 bp OTM, $8-wide wings | 6 | $1.17 | $0.21 | $4,098.00 | 39.15% | $576.00 | call profit target 50% | STO 2024-06-12 545C @ 1.19; BTO 2024-06-12 553C @ 0.02 |
| 18 | 2024-07-15 | 10:30:00 | 14:00:00 | call first, 10 bp OTM, $8-wide wings | 5 | $0.48 | $0.07 | $3,760.00 | 34.05% | $205.00 | call profit target 50% | STO 2024-07-15 564C @ 0.49; BTO 2024-07-15 572C @ 0.01 |
| 19 | 2024-07-19 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 6 | $0.95 | $1.68 | $4,230.00 | 37.60% | $-438.00 | put timed close 15:45:00 | STO 2024-07-19 550P @ 1.00; BTO 2024-07-19 542P @ 0.05 |
| 20 | 2024-07-26 | 10:30:00 | 15:00:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.97 | $0.36 | $4,218.00 | 39.02% | $366.00 | call profit target 50% | STO 2024-07-26 545C @ 1.00; BTO 2024-07-26 553C @ 0.03 |
| 21 | 2024-09-05 | 10:30:00 | 11:00:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.84 | $0.26 | $4,296.00 | 38.44% | $348.00 | call profit target 50% | STO 2024-09-05 554C @ 0.85; BTO 2024-09-05 562C @ 0.01 |
| 22 | 2024-09-05 | 12:00:00 | 13:00:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 6 | $1.16 | $0.56 | $4,104.00 | 35.61% | $360.00 | put profit target 50% | STO 2024-09-05 547P @ 1.21; BTO 2024-09-05 539P @ 0.05 |
| 23 | 2024-09-05 | 13:00:00 | 14:00:00 | put standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 6 | $0.84 | $0.22 | $4,296.00 | 36.15% | $372.00 | put profit target 50% | STO 2024-09-05 548P @ 0.87; BTO 2024-09-05 540P @ 0.03 |
| 24 | 2024-09-11 | 10:30:00 | 12:00:00 | put first, 10 bp OTM, $8-wide wings | 7 | $1.17 | $0.24 | $4,781.00 | 39.01% | $651.00 | put profit target 50% | STO 2024-09-11 540P @ 1.24; BTO 2024-09-11 532P @ 0.07 |
| 25 | 2024-09-11 | 14:00:00 | 15:45:00 | call followup rsi80 20, 0 bp OTM, $8-wide wings | 6 | $0.57 | $1.96 | $4,458.00 | 34.54% | $-834.00 | call timed close 15:45:00 | STO 2024-09-11 551C @ 0.58; BTO 2024-09-11 559C @ 0.01 |
| 26 | 2024-09-12 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 6 | $0.97 | $0.46 | $4,218.00 | 34.93% | $306.00 | call profit target 50% | STO 2024-09-12 557C @ 0.99; BTO 2024-09-12 565C @ 0.02 |
| 27 | 2024-09-19 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 7 | $1.07 | $0.46 | $4,851.00 | 39.18% | $427.00 | call profit target 50% | STO 2024-09-19 572C @ 1.09; BTO 2024-09-19 580C @ 0.02 |
| 28 | 2024-10-23 | 13:30:00 | 14:30:00 | put standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 6 | $0.48 | $1.05 | $4,512.00 | 35.23% | $-342.00 | put timed close 14:30:00 | STO 2024-10-23 576P @ 0.51; BTO 2024-10-23 568P @ 0.03 |
| 29 | 2024-10-31 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 7 | $1.11 | $0.99 | $4,823.00 | 38.69% | $84.00 | put timed close 15:45:00 | STO 2024-10-31 571P @ 1.18; BTO 2024-10-31 563P @ 0.07 |
| 30 | 2024-11-01 | 10:30:00 | 11:00:00 | call first, 10 bp OTM, $8-wide wings | 7 | $0.87 | $0.42 | $4,991.00 | 39.77% | $315.00 | call profit target 50% | STO 2024-11-01 576C @ 0.88; BTO 2024-11-01 584C @ 0.01 |
| 31 | 2024-11-01 | 14:00:00 | 15:00:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 6 | $0.63 | $0.20 | $4,422.00 | 34.38% | $258.00 | put profit target 50% | STO 2024-11-01 571P @ 0.65; BTO 2024-11-01 563P @ 0.02 |
| 32 | 2024-11-04 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 7 | $0.65 | $0.11 | $5,145.00 | 39.21% | $378.00 | call profit target 50% | STO 2024-11-04 573C @ 0.66; BTO 2024-11-04 581C @ 0.01 |
| 33 | 2024-11-04 | 12:00:00 | 13:00:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 7 | $0.78 | $0.24 | $5,054.00 | 37.44% | $378.00 | put profit target 50% | STO 2024-11-04 568P @ 0.82; BTO 2024-11-04 560P @ 0.04 |
| 34 | 2024-11-06 | 10:30:00 | 11:00:00 | call first, 10 bp OTM, $8-wide wings | 7 | $0.79 | $0.28 | $5,047.00 | 36.37% | $357.00 | call profit target 50% | STO 2024-11-06 590C @ 0.81; BTO 2024-11-06 598C @ 0.02 |
| 35 | 2024-11-15 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 7 | $0.77 | $1.28 | $5,061.00 | 35.55% | $-357.00 | put timed close 15:45:00 | STO 2024-11-15 586P @ 0.80; BTO 2024-11-15 578P @ 0.03 |
| 36 | 2024-12-27 | 10:30:00 | 14:00:00 | put first, 10 bp OTM, $8-wide wings | 7 | $1.13 | $0.37 | $5,159.00 | 37.17% | $532.00 | put profit target 50% | STO 2024-12-27 592.5P @ 1.27; BTO 2024-12-27 584P @ 0.14 |
| 37 | 2024-12-30 | 10:30:00 | 11:00:00 | put first, 10 bp OTM, $8-wide wings | 8 | $1.19 | $0.46 | $5,448.00 | 37.81% | $584.00 | put profit target 50% | STO 2024-12-30 584P @ 1.31; BTO 2024-12-30 576P @ 0.12 |
| 38 | 2024-12-30 | 13:00:00 | 15:00:00 | call followup rsi80 20, 0 bp OTM, $8-wide wings | 8 | $0.79 | $0.30 | $5,768.00 | 38.47% | $392.00 | call profit target 50% | STO 2024-12-30 592C @ 0.80; BTO 2024-12-30 600C @ 0.01 |
| 39 | 2024-12-31 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 8 | $1.13 | $0.28 | $5,496.00 | 35.72% | $680.00 | call profit target 50% | STO 2024-12-31 591C @ 1.17; BTO 2024-12-31 599C @ 0.04 |
| 40 | 2024-12-31 | 13:00:00 | 15:30:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 8 | $0.84 | $0.40 | $5,728.00 | 35.65% | $352.00 | put profit target 50% | STO 2024-12-31 586P @ 0.86; BTO 2024-12-31 578P @ 0.02 |
| 41 | 2025-03-05 | 10:30:00 | 13:00:00 | put first, 10 bp OTM, $8-wide wings | 10 | $2.00 | $0.44 | $6,000.00 | 36.55% | $1,560.00 | put profit target 50% | STO 2025-03-05 575P @ 2.52; BTO 2025-03-05 567P @ 0.52 |
| 42 | 2025-03-07 | 10:30:00 | 14:00:00 | put first, 10 bp OTM, $8-wide wings | 11 | $1.81 | $0.50 | $6,809.00 | 37.87% | $1,441.00 | put profit target 50% | STO 2025-03-07 571P @ 2.28; BTO 2025-03-07 563P @ 0.47 |
| 43 | 2025-03-11 | 10:30:00 | 15:00:00 | put first, 10 bp OTM, $8-wide wings | 13 | $2.04 | $0.14 | $7,748.00 | 39.90% | $2,470.00 | put profit target 50% | STO 2025-03-11 555P @ 2.46; BTO 2025-03-11 547P @ 0.42 |
| 44 | 2025-03-25 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 11 | $0.52 | $0.19 | $8,228.00 | 37.59% | $363.00 | call profit target 50% | STO 2025-03-25 577C @ 0.53; BTO 2025-03-25 585C @ 0.01 |
| 45 | 2025-03-26 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 12 | $0.64 | $3.71 | $8,832.00 | 39.69% | $-3,684.00 | put timed close 15:45:00 | STO 2025-03-26 572P @ 0.68; BTO 2025-03-26 564P @ 0.04 |
| 46 | 2025-03-28 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 11 | $1.44 | $3.65 | $7,216.00 | 38.86% | $-2,431.00 | put timed close 15:45:00 | STO 2025-03-28 559P @ 1.54; BTO 2025-03-28 551P @ 0.10 |
| 47 | 2025-03-31 | 12:30:00 | 14:00:00 | call standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 9 | $0.93 | $0.35 | $6,363.00 | 39.43% | $522.00 | call profit target 50% | STO 2025-03-31 556C @ 0.95; BTO 2025-03-31 564C @ 0.02 |
| 48 | 2025-04-02 | 12:30:00 | 14:30:00 | call standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 10 | $1.93 | $0.70 | $6,070.00 | 36.44% | $1,230.00 | call profit target 50% | STO 2025-04-02 565C @ 2.09; BTO 2025-04-02 573C @ 0.16 |
| 49 | 2025-04-04 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 9 | $2.58 | $3.24 | $6,678.00 | 37.33% | $-594.00 | put timed close 15:45:00 | STO 2025-04-04 515P @ 3.30; BTO 2025-04-04 505P @ 0.72 |
| 50 | 2025-04-07 | 10:30:00 | 14:00:00 | put first, 10 bp OTM, $8-wide wings | 14 | $3.06 | $0.53 | $6,916.00 | 39.99% | $3,542.00 | put profit target 50% | STO 2025-04-07 497P @ 7.27; BTO 2025-04-07 489P @ 4.21 |
| 51 | 2025-04-11 | 10:30:00 | 12:00:00 | put first, 10 bp OTM, $8-wide wings | 15 | $2.54 | $1.02 | $8,190.00 | 39.31% | $2,280.00 | put profit target 50% | STO 2025-04-11 520P @ 5.31; BTO 2025-04-11 512P @ 2.77 |
| 52 | 2025-04-14 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 15 | $2.10 | $0.38 | $8,850.00 | 38.28% | $2,580.00 | call profit target 50% | STO 2025-04-14 543C @ 2.51; BTO 2025-04-14 551C @ 0.41 |
| 53 | 2025-04-14 | 12:00:00 | 14:00:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 16 | $1.82 | $0.45 | $9,888.00 | 38.48% | $2,192.00 | put profit target 50% | STO 2025-04-14 535P @ 2.44; BTO 2025-04-14 527P @ 0.62 |
| 54 | 2025-04-21 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 18 | $1.89 | $2.96 | $10,998.00 | 39.43% | $-1,926.00 | put timed close 15:45:00 | STO 2025-04-21 515P @ 2.28; BTO 2025-04-21 507P @ 0.39 |
| 55 | 2025-04-23 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 17 | $1.97 | $0.42 | $10,251.00 | 39.48% | $2,635.00 | call profit target 50% | STO 2025-04-23 545C @ 2.31; BTO 2025-04-23 553C @ 0.34 |
| 56 | 2025-04-23 | 12:00:00 | 14:00:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 17 | $1.59 | $0.77 | $10,897.00 | 38.10% | $1,394.00 | put profit target 50% | STO 2025-04-23 536P @ 2.09; BTO 2025-04-23 528P @ 0.50 |
| 57 | 2025-04-24 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 19 | $1.95 | $3.54 | $11,495.00 | 38.33% | $-3,021.00 | call timed close 15:45:00 | STO 2025-04-24 543C @ 2.26; BTO 2025-04-24 551C @ 0.31 |
| 58 | 2025-04-25 | 10:30:00 | 12:00:00 | put first, 10 bp OTM, $8-wide wings | 17 | $1.73 | $0.56 | $10,659.00 | 39.52% | $1,989.00 | put profit target 50% | STO 2025-04-25 544P @ 2.13; BTO 2025-04-25 536P @ 0.40 |
| 59 | 2025-04-28 | 12:30:00 | 14:00:00 | put standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 16 | $1.10 | $0.32 | $11,040.00 | 38.12% | $1,248.00 | put profit target 50% | STO 2025-04-28 545P @ 1.18; BTO 2025-04-28 537P @ 0.08 |
| 60 | 2025-04-30 | 13:00:00 | 14:30:00 | call standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 17 | $1.04 | $1.24 | $11,832.00 | 39.17% | $-340.00 | call timed close 14:30:00 | STO 2025-04-30 551C @ 1.09; BTO 2025-04-30 559C @ 0.05 |
| 61 | 2025-05-01 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 18 | $1.47 | $0.52 | $11,754.00 | 39.35% | $1,710.00 | call profit target 50% | STO 2025-05-01 563C @ 1.58; BTO 2025-05-01 571C @ 0.11 |
| 62 | 2025-05-02 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 18 | $1.23 | $0.83 | $12,186.00 | 38.59% | $720.00 | call timed close 15:45:00 | STO 2025-05-02 567C @ 1.29; BTO 2025-05-02 575C @ 0.06 |
| 63 | 2025-05-07 | 10:30:00 | 15:00:00 | call first, 10 bp OTM, $8-wide wings | 19 | $1.41 | $0.53 | $12,521.00 | 38.77% | $1,672.00 | call profit target 50% | STO 2025-05-07 563C @ 1.56; BTO 2025-05-07 571C @ 0.15 |
| 64 | 2025-05-27 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 18 | $0.57 | $1.50 | $13,374.00 | 39.37% | $-1,674.00 | call timed close 15:45:00 | STO 2025-05-27 589C @ 0.59; BTO 2025-05-27 597C @ 0.02 |
| 65 | 2025-06-04 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 17 | $0.51 | $0.15 | $12,733.00 | 39.43% | $612.00 | call profit target 50% | STO 2025-06-04 599C @ 0.53; BTO 2025-06-04 607C @ 0.02 |
| 66 | 2025-06-18 | 10:30:00 | 15:00:00 | call first, 10 bp OTM, $8-wide wings | 18 | $1.02 | $0.08 | $12,564.00 | 38.18% | $1,692.00 | call profit target 50% | STO 2025-06-18 602C @ 1.06; BTO 2025-06-18 610C @ 0.04 |
| 67 | 2025-10-15 | 10:30:00 | 12:00:00 | call first, 10 bp OTM, $8-wide wings | 18 | $0.58 | $0.08 | $13,356.00 | 38.60% | $900.00 | call profit target 50% | STO 2025-10-15 671C @ 0.60; BTO 2025-10-15 679C @ 0.02 |
| 68 | 2025-10-15 | 13:00:00 | 15:00:00 | put followup rsi80 20, 0 bp OTM, $8-wide wings | 20 | $0.92 | $0.15 | $14,160.00 | 39.89% | $1,540.00 | put profit target 50% | STO 2025-10-15 663P @ 1.01; BTO 2025-10-15 655P @ 0.09 |
| 69 | 2025-12-18 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 20 | $0.91 | $0.35 | $14,180.00 | 38.28% | $1,120.00 | call profit target 50% | STO 2025-12-18 680C @ 0.92; BTO 2025-12-18 688C @ 0.01 |
| 70 | 2026-03-03 | 10:30:00 | 12:00:00 | put first, 10 bp OTM, $8-wide wings | 24 | $1.70 | $0.12 | $15,120.00 | 39.62% | $3,792.00 | put profit target 50% | STO 2026-03-03 669P @ 2.04; BTO 2026-03-03 661P @ 0.34 |
| 71 | 2026-03-03 | 14:00:00 | 15:30:00 | call followup rsi80 20, 0 bp OTM, $8-wide wings | 23 | $0.74 | $0.35 | $16,698.00 | 39.80% | $897.00 | call profit target 50% | STO 2026-03-03 682C @ 0.76; BTO 2026-03-03 690C @ 0.02 |
| 72 | 2026-03-04 | 10:30:00 | 15:30:00 | call first, 10 bp OTM, $8-wide wings | 24 | $1.09 | $0.31 | $16,584.00 | 38.70% | $1,872.00 | call profit target 50% | STO 2026-03-04 687C @ 1.11; BTO 2026-03-04 695C @ 0.02 |
| 73 | 2026-03-05 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 27 | $1.43 | $0.58 | $17,739.00 | 39.67% | $2,295.00 | put profit target 50% | STO 2026-03-05 680P @ 1.67; BTO 2026-03-05 672P @ 0.24 |
| 74 | 2026-03-09 | 12:30:00 | 13:30:00 | call standalone q82 rsi80 20, 0 bp OTM, $8-wide wings | 26 | $0.93 | $0.31 | $18,382.00 | 39.10% | $1,612.00 | call profit target 50% | STO 2026-03-09 672C @ 0.98; BTO 2026-03-09 680C @ 0.05 |
| 75 | 2026-03-12 | 10:30:00 | 15:30:00 | put first, 10 bp OTM, $8-wide wings | 30 | $1.58 | $0.32 | $19,260.00 | 39.61% | $3,780.00 | put profit target 50% | STO 2026-03-12 667P @ 1.83; BTO 2026-03-12 659P @ 0.25 |
| 76 | 2026-03-18 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 32 | $1.61 | $3.09 | $20,448.00 | 39.02% | $-4,736.00 | put timed close 15:45:00 | STO 2026-03-18 665P @ 1.81; BTO 2026-03-18 657P @ 0.20 |
| 77 | 2026-03-19 | 10:30:00 | 12:00:00 | put first, 10 bp OTM, $8-wide wings | 28 | $1.32 | $0.53 | $18,704.00 | 39.23% | $2,212.00 | put profit target 50% | STO 2026-03-19 655P @ 1.48; BTO 2026-03-19 647P @ 0.16 |
| 78 | 2026-03-27 | 10:30:00 | 15:45:00 | put first, 10 bp OTM, $8-wide wings | 30 | $1.45 | $3.90 | $19,650.00 | 39.39% | $-7,350.00 | put timed close 15:45:00 | STO 2026-03-27 638P @ 1.64; BTO 2026-03-27 630P @ 0.19 |
| 79 | 2026-04-09 | 10:30:00 | 12:00:00 | put first, 10 bp OTM, $8-wide wings | 23 | $0.67 | $0.12 | $16,859.00 | 39.64% | $1,265.00 | put profit target 50% | STO 2026-04-09 673P @ 0.77; BTO 2026-04-09 665P @ 0.10 |
| 80 | 2026-04-09 | 12:00:00 | 15:00:00 | call followup rsi80 20, 0 bp OTM, $8-wide wings | 23 | $0.68 | $0.30 | $16,836.00 | 38.44% | $874.00 | call profit target 50% | STO 2026-04-09 680C @ 0.72; BTO 2026-04-09 688C @ 0.04 |
| 81 | 2026-04-15 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 23 | $0.54 | $1.66 | $17,158.00 | 38.41% | $-2,576.00 | call timed close 15:45:00 | STO 2026-04-15 698C @ 0.57; BTO 2026-04-15 706C @ 0.03 |
| 82 | 2026-05-05 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 23 | $0.74 | $0.94 | $16,698.00 | 39.67% | $-460.00 | call timed close 15:45:00 | STO 2026-05-05 724C @ 0.76; BTO 2026-05-05 732C @ 0.02 |
| 83 | 2026-05-07 | 10:30:00 | 13:00:00 | call first, 10 bp OTM, $8-wide wings | 22 | $0.51 | $0.07 | $16,478.00 | 39.58% | $968.00 | call profit target 50% | STO 2026-05-07 736C @ 0.54; BTO 2026-05-07 744C @ 0.03 |
| 84 | 2026-05-14 | 10:30:00 | 15:45:00 | call first, 10 bp OTM, $8-wide wings | 23 | $0.84 | $1.60 | $16,468.00 | 38.65% | $-1,748.00 | call timed close 15:45:00 | STO 2026-05-14 747C @ 0.86; BTO 2026-05-14 755C @ 0.02 |
Important Notes
This is a historical paper/research report, not live trading performance. Results depend on ThetaData historical option bid/ask snapshots, the specific entry/exit rules above, and the risk-cap sizing model.
The strategy is defined-risk per spread, but the 40% risk cap is aggressive. A worst-case same-day move can still produce large account drawdowns.