SPY 0DTE Iron Condor Backtest

Sell the SPY call and put four strikes from at-the-money and buy wings four strikes further out, all expiring the same day, 09:45 to 15:45.

Backtested 2026-05-13 to 2026-11-12 on 128 trading days, one contract per leg, costs included. Historical simulation, refreshed weekly.

Total net P&L
-$2,341
after $1,690 of costs
Win rate
70.3%
of trading days
Max drawdown
-$2,697
not recovered in range
Expectancy
-$18.29
per trading day
Profit factor
0.58
gross wins / gross losses
Best and worst day
$142 / -$363
longest losing run 5 days

Cumulative net P&L

Net P&L by day

Net P&L by weekday

Net P&L by days to expiry at entry

The rules

Underlying
SPY
Entry
09:45, Monday to Friday
Exit
15:45, or earlier on a stop
Expiry
Same-day expiry
Commission
$0.65 per contract, on entry and on exit
Slippage
0.01 premium points against every fill

Times are exchange time. Prices are last-traded one-minute marks, not quotes you could always have filled at. Option premiums are not shown on this page.

LegStrikeLotsStop
Buy Put8 strikes below at the money1None
Sell Put4 strikes below at the money1None
Sell Call4 strikes above at the money1None
Buy Call8 strikes above at the money1None

Day by day

DateContractsExpiryExitNet P&L
2026-11-12 ThuB 749 PE, S 753 PE, S 761 CE, B 765 CE2026-11-12time_exit$89
2026-11-11 WedB 748 PE, S 752 PE, S 760 CE, B 764 CE2026-11-11time_exit-$5
2026-11-10 TueB 740 PE, S 744 PE, S 752 CE, B 756 CE2026-11-10time_exit$109
2026-11-09 MonB 738 PE, S 742 PE, S 750 CE, B 754 CE2026-11-09time_exit-$246
2026-11-06 FriB 732 PE, S 736 PE, S 744 CE, B 748 CE2026-11-06time_exit$140
2026-11-05 ThuB 749 PE, S 753 PE, S 761 CE, B 765 CE2026-11-05time_exit-$296
2026-11-04 WedB 759 PE, S 763 PE, S 771 CE, B 775 CE2026-11-04time_exit$88
2026-11-03 TueB 746 PE, S 750 PE, S 758 CE, B 762 CE2026-11-03time_exit$84
2026-11-02 MonB 752 PE, S 756 PE, S 764 CE, B 768 CE2026-11-02time_exit-$195
2026-10-30 FriB 752 PE, S 756 PE, S 764 CE, B 768 CE2026-10-30time_exit-$156
2026-10-29 ThuB 761 PE, S 765 PE, S 773 CE, B 777 CE2026-10-29time_exit$58
2026-10-28 WedB 762 PE, S 766 PE, S 774 CE, B 778 CE2026-10-28time_exit$59
2026-10-27 TueB 760 PE, S 764 PE, S 772 CE, B 776 CE2026-10-27time_exit$12
2026-10-26 MonB 755 PE, S 759 PE, S 767 CE, B 771 CE2026-10-26time_exit$55
2026-10-23 FriB 752 PE, S 756 PE, S 764 CE, B 768 CE2026-10-23time_exit$92
2026-10-22 ThuB 758 PE, S 762 PE, S 770 CE, B 774 CE2026-10-22time_exit-$6
2026-10-21 WedB 763 PE, S 767 PE, S 775 CE, B 779 CE2026-10-21time_exit$31
2026-10-20 TueB 757 PE, S 761 PE, S 769 CE, B 773 CE2026-10-20time_exit$22
2026-10-19 MonB 759 PE, S 763 PE, S 771 CE, B 775 CE2026-10-19time_exit$43
2026-10-16 FriB 764 PE, S 768 PE, S 776 CE, B 780 CE2026-10-16time_exit-$362
2026-10-15 ThuB 758 PE, S 762 PE, S 770 CE, B 774 CE2026-10-15time_exit-$168
2026-10-14 WedB 767 PE, S 771 PE, S 779 CE, B 783 CE2026-10-14time_exit-$215
2026-10-13 TueB 770 PE, S 774 PE, S 782 CE, B 786 CE2026-10-13time_exit$3
2026-10-12 MonB 771 PE, S 775 PE, S 783 CE, B 787 CE2026-10-12time_exit$1
2026-10-09 FriB 768 PE, S 772 PE, S 780 CE, B 784 CE2026-10-09time_exit$16
2026-10-08 ThuB 767 PE, S 771 PE, S 779 CE, B 783 CE2026-10-08time_exit$15
2026-10-07 WedB 767 PE, S 771 PE, S 779 CE, B 783 CE2026-10-07time_exit$29
2026-10-06 TueB 771 PE, S 775 PE, S 783 CE, B 787 CE2026-10-06time_exit$13
2026-10-05 MonB 763 PE, S 767 PE, S 775 CE, B 779 CE2026-10-05time_exit-$32
2026-10-02 FriB 764 PE, S 768 PE, S 776 CE, B 780 CE2026-10-02time_exit$38
2026-10-01 ThuB 756 PE, S 760 PE, S 768 CE, B 772 CE2026-10-01time_exit$62
2026-09-30 WedB 758 PE, S 762 PE, S 770 CE, B 774 CE2026-09-30time_exit$35
2026-09-29 TueB 757 PE, S 761 PE, S 769 CE, B 773 CE2026-09-29time_exit$37
2026-09-28 MonB 760 PE, S 764 PE, S 772 CE, B 776 CE2026-09-28time_exit$19
2026-09-25 FriB 761 PE, S 765 PE, S 773 CE, B 777 CE2026-09-25time_exit$10
2026-09-24 ThuB 757 PE, S 761 PE, S 769 CE, B 773 CE2026-09-24time_exit$20
2026-09-23 WedB 764 PE, S 768 PE, S 776 CE, B 780 CE2026-09-23time_exit-$52
2026-09-22 TueB 766 PE, S 770 PE, S 778 CE, B 782 CE2026-09-22time_exit$13
2026-09-21 MonB 759 PE, S 763 PE, S 771 CE, B 775 CE2026-09-21time_exit-$335
2026-09-18 FriB 753 PE, S 757 PE, S 765 CE, B 769 CE2026-09-18time_exit$10
2026-09-17 ThuB 753 PE, S 757 PE, S 765 CE, B 769 CE2026-09-17time_exit$27
2026-09-16 WedB 751 PE, S 755 PE, S 763 CE, B 767 CE2026-09-16time_exit-$104
2026-09-15 TueB 752 PE, S 756 PE, S 764 CE, B 768 CE2026-09-15time_exit$5
2026-09-14 MonB 752 PE, S 756 PE, S 764 CE, B 768 CE2026-09-14time_exit$16
2026-09-11 FriB 757 PE, S 761 PE, S 769 CE, B 773 CE2026-09-11time_exit$28
2026-09-10 ThuB 750 PE, S 754 PE, S 762 CE, B 766 CE2026-09-10time_exit$30
2026-09-09 WedB 756 PE, S 760 PE, S 768 CE, B 772 CE2026-09-09time_exit$18
2026-09-08 TueB 760 PE, S 764 PE, S 772 CE, B 776 CE2026-09-08time_exit$12
2026-09-04 FriB 764 PE, S 768 PE, S 776 CE, B 780 CE2026-09-04time_exit$15
2026-09-03 ThuB 762 PE, S 766 PE, S 774 CE, B 778 CE2026-09-03time_exit$3
2026-09-02 WedB 754 PE, S 758 PE, S 766 CE, B 770 CE2026-09-02time_exit-$11
2026-09-01 TueB 754 PE, S 758 PE, S 766 CE, B 770 CE2026-09-01time_exit$16
2026-08-31 MonB 758 PE, S 762 PE, S 770 CE, B 774 CE2026-08-31time_exit$16
2026-08-28 FriB 764 PE, S 768 PE, S 776 CE, B 780 CE2026-08-28time_exit$46
2026-08-27 ThuB 762 PE, S 766 PE, S 774 CE, B 778 CE2026-08-27time_exit$26
2026-08-26 WedB 759 PE, S 763 PE, S 771 CE, B 775 CE2026-08-26time_exit$18
2026-08-25 TueB 758 PE, S 762 PE, S 770 CE, B 774 CE2026-08-25time_exit$7
2026-08-24 MonB 754 PE, S 758 PE, S 766 CE, B 770 CE2026-08-24time_exit$13
2026-08-21 FriB 757 PE, S 761 PE, S 769 CE, B 773 CE2026-08-21time_exit$17
2026-08-20 ThuB 759 PE, S 763 PE, S 771 CE, B 775 CE2026-08-20time_exit-$11
2026-08-19 WedB 762 PE, S 766 PE, S 774 CE, B 778 CE2026-08-19time_exit$16
2026-08-18 TueB 761 PE, S 765 PE, S 773 CE, B 777 CE2026-08-18time_exit$20
2026-08-17 MonB 767 PE, S 771 PE, S 779 CE, B 783 CE2026-08-17time_exit$1
2026-08-14 FriB 770 PE, S 774 PE, S 782 CE, B 786 CE2026-08-14time_exit$7
2026-08-13 ThuB 768 PE, S 772 PE, S 780 CE, B 784 CE2026-08-13time_exit$11
2026-08-12 WedB 765 PE, S 769 PE, S 777 CE, B 781 CE2026-08-12time_exit$34
2026-08-11 TueB 765 PE, S 769 PE, S 777 CE, B 781 CE2026-08-11time_exit$7
2026-08-10 MonB 765 PE, S 769 PE, S 777 CE, B 781 CE2026-08-10time_exit$12
2026-08-07 FriB 764 PE, S 768 PE, S 776 CE, B 780 CE2026-08-07time_exit$46
2026-08-06 ThuB 763 PE, S 767 PE, S 775 CE, B 779 CE2026-08-06time_exit$34
2026-08-05 WedB 768 PE, S 772 PE, S 780 CE, B 784 CE2026-08-05time_exit$33
2026-08-04 TueB 754 PE, S 758 PE, S 766 CE, B 770 CE2026-08-04time_exit-$356
2026-08-03 MonB 744 PE, S 748 PE, S 756 CE, B 760 CE2026-08-03time_exit-$185
2026-07-31 FriB 735 PE, S 739 PE, S 747 CE, B 751 CE2026-07-31time_exit-$49
2026-07-30 ThuB 729 PE, S 733 PE, S 741 CE, B 745 CE2026-07-30time_exit-$48
2026-07-29 WedB 732 PE, S 736 PE, S 744 CE, B 748 CE2026-07-29time_exit-$161
2026-07-28 TueB 729 PE, S 733 PE, S 741 CE, B 745 CE2026-07-28time_exit$30
2026-07-27 MonB 736 PE, S 740 PE, S 748 CE, B 752 CE2026-07-27time_exit-$107
2026-07-24 FriB 731 PE, S 735 PE, S 743 CE, B 747 CE2026-07-24time_exit$39
2026-07-23 ThuB 734 PE, S 738 PE, S 746 CE, B 750 CE2026-07-23time_exit-$104
2026-07-22 WedB 740 PE, S 744 PE, S 752 CE, B 756 CE2026-07-22time_exit$30
2026-07-21 TueB 737 PE, S 741 PE, S 749 CE, B 753 CE2026-07-21time_exit$34
2026-07-20 MonB 740 PE, S 744 PE, S 752 CE, B 756 CE2026-07-20time_exit-$109
2026-07-17 FriB 734 PE, S 738 PE, S 746 CE, B 750 CE2026-07-17time_exit$78
2026-07-16 ThuB 743 PE, S 747 PE, S 755 CE, B 759 CE2026-07-16time_exit$29
2026-07-15 WedB 746 PE, S 750 PE, S 758 CE, B 762 CE2026-07-15time_exit$16
2026-07-14 TueB 744 PE, S 748 PE, S 756 CE, B 760 CE2026-07-14time_exit$45
2026-07-13 MonB 744 PE, S 748 PE, S 756 CE, B 760 CE2026-07-13time_exit$4
2026-07-10 FriB 744 PE, S 748 PE, S 756 CE, B 760 CE2026-07-10time_exit$17
2026-07-09 ThuB 741 PE, S 745 PE, S 753 CE, B 757 CE2026-07-09time_exit$33
2026-07-08 WedB 737 PE, S 741 PE, S 749 CE, B 753 CE2026-07-08time_exit$68
2026-07-07 TueB 742 PE, S 746 PE, S 754 CE, B 758 CE2026-07-07time_exit$13
2026-07-06 MonB 741 PE, S 745 PE, S 753 CE, B 757 CE2026-07-06time_exit$13
2026-07-02 ThuB 742 PE, S 746 PE, S 754 CE, B 758 CE2026-07-02time_exit-$224
2026-07-01 WedB 736 PE, S 740 PE, S 748 CE, B 752 CE2026-07-01time_exit$55
2026-06-30 TueB 734 PE, S 738 PE, S 746 CE, B 750 CE2026-06-30time_exit-$50
2026-06-29 MonB 732 PE, S 736 PE, S 744 CE, B 748 CE2026-06-29time_exit$39
2026-06-26 FriB 720 PE, S 724 PE, S 732 CE, B 736 CE2026-06-26time_exit-$21
2026-06-25 ThuB 725 PE, S 729 PE, S 737 CE, B 741 CE2026-06-25time_exit$142
2026-06-24 WedB 728 PE, S 732 PE, S 740 CE, B 744 CE2026-06-24time_exit$20
2026-06-23 TueB 727 PE, S 731 PE, S 739 CE, B 743 CE2026-06-23time_exit$105
2026-06-22 MonB 740 PE, S 744 PE, S 752 CE, B 756 CE2026-06-22time_exit-$38
2026-06-18 ThuB 737 PE, S 741 PE, S 749 CE, B 753 CE2026-06-18time_exit$88
2026-06-17 WedB 743 PE, S 747 PE, S 755 CE, B 759 CE2026-06-17time_exit-$290
2026-06-16 TueB 747 PE, S 751 PE, S 759 CE, B 763 CE2026-06-16time_exit-$14
2026-06-15 MonB 745 PE, S 749 PE, S 757 CE, B 761 CE2026-06-15time_exit$37
2026-06-12 FriB 727 PE, S 731 PE, S 739 CE, B 743 CE2026-06-12time_exit-$0
2026-06-11 ThuB 721 PE, S 725 PE, S 733 CE, B 737 CE2026-06-11time_exit-$233
2026-06-10 WedB 728 PE, S 732 PE, S 740 CE, B 744 CE2026-06-10time_exit-$192
2026-06-09 TueB 738 PE, S 742 PE, S 750 CE, B 754 CE2026-06-09time_exit-$363
2026-06-08 MonB 735 PE, S 739 PE, S 747 CE, B 751 CE2026-06-08time_exit$56
2026-06-05 FriB 742 PE, S 746 PE, S 754 CE, B 758 CE2026-06-05time_exit-$336
2026-06-04 ThuB 744 PE, S 748 PE, S 756 CE, B 760 CE2026-06-04time_exit-$136
2026-06-03 WedB 748 PE, S 752 PE, S 760 CE, B 764 CE2026-06-03time_exit$47
2026-06-02 TueB 749 PE, S 753 PE, S 761 CE, B 765 CE2026-06-02time_exit$17
2026-06-01 MonB 748 PE, S 752 PE, S 760 CE, B 764 CE2026-06-01time_exit$24
2026-05-29 FriB 750 PE, S 754 PE, S 762 CE, B 766 CE2026-05-29time_exit$28
2026-05-28 ThuB 742 PE, S 746 PE, S 754 CE, B 758 CE2026-05-28time_exit-$69
2026-05-27 WedB 742 PE, S 746 PE, S 754 CE, B 758 CE2026-05-27time_exit$39
2026-05-26 TueB 743 PE, S 747 PE, S 755 CE, B 759 CE2026-05-26time_exit$27
2026-05-22 FriB 740 PE, S 744 PE, S 752 CE, B 756 CE2026-05-22time_exit$43
2026-05-21 ThuB 730 PE, S 734 PE, S 742 CE, B 746 CE2026-05-21time_exit$24
2026-05-20 WedB 728 PE, S 732 PE, S 740 CE, B 744 CE2026-05-20time_exit-$84
2026-05-19 TueB 726 PE, S 730 PE, S 738 CE, B 742 CE2026-05-19time_exit$87
2026-05-18 MonB 730 PE, S 734 PE, S 742 CE, B 746 CE2026-05-18time_exit$56
2026-05-15 FriB 730 PE, S 734 PE, S 742 CE, B 746 CE2026-05-15time_exit$91
2026-05-14 ThuB 738 PE, S 742 PE, S 750 CE, B 754 CE2026-05-14time_exit$38
2026-05-13 WedB 729 PE, S 733 PE, S 741 CE, B 745 CE2026-05-13time_exit-$201

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