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.
| Leg | Strike | Lots | Stop |
|---|---|---|---|
| Buy Put | 8 strikes below at the money | 1 | None |
| Sell Put | 4 strikes below at the money | 1 | None |
| Sell Call | 4 strikes above at the money | 1 | None |
| Buy Call | 8 strikes above at the money | 1 | None |
Day by day
| Date | Contracts | Expiry | Exit | Net P&L |
|---|---|---|---|---|
| 2026-11-12 Thu | B 749 PE, S 753 PE, S 761 CE, B 765 CE | 2026-11-12 | time_exit | $89 |
| 2026-11-11 Wed | B 748 PE, S 752 PE, S 760 CE, B 764 CE | 2026-11-11 | time_exit | -$5 |
| 2026-11-10 Tue | B 740 PE, S 744 PE, S 752 CE, B 756 CE | 2026-11-10 | time_exit | $109 |
| 2026-11-09 Mon | B 738 PE, S 742 PE, S 750 CE, B 754 CE | 2026-11-09 | time_exit | -$246 |
| 2026-11-06 Fri | B 732 PE, S 736 PE, S 744 CE, B 748 CE | 2026-11-06 | time_exit | $140 |
| 2026-11-05 Thu | B 749 PE, S 753 PE, S 761 CE, B 765 CE | 2026-11-05 | time_exit | -$296 |
| 2026-11-04 Wed | B 759 PE, S 763 PE, S 771 CE, B 775 CE | 2026-11-04 | time_exit | $88 |
| 2026-11-03 Tue | B 746 PE, S 750 PE, S 758 CE, B 762 CE | 2026-11-03 | time_exit | $84 |
| 2026-11-02 Mon | B 752 PE, S 756 PE, S 764 CE, B 768 CE | 2026-11-02 | time_exit | -$195 |
| 2026-10-30 Fri | B 752 PE, S 756 PE, S 764 CE, B 768 CE | 2026-10-30 | time_exit | -$156 |
| 2026-10-29 Thu | B 761 PE, S 765 PE, S 773 CE, B 777 CE | 2026-10-29 | time_exit | $58 |
| 2026-10-28 Wed | B 762 PE, S 766 PE, S 774 CE, B 778 CE | 2026-10-28 | time_exit | $59 |
| 2026-10-27 Tue | B 760 PE, S 764 PE, S 772 CE, B 776 CE | 2026-10-27 | time_exit | $12 |
| 2026-10-26 Mon | B 755 PE, S 759 PE, S 767 CE, B 771 CE | 2026-10-26 | time_exit | $55 |
| 2026-10-23 Fri | B 752 PE, S 756 PE, S 764 CE, B 768 CE | 2026-10-23 | time_exit | $92 |
| 2026-10-22 Thu | B 758 PE, S 762 PE, S 770 CE, B 774 CE | 2026-10-22 | time_exit | -$6 |
| 2026-10-21 Wed | B 763 PE, S 767 PE, S 775 CE, B 779 CE | 2026-10-21 | time_exit | $31 |
| 2026-10-20 Tue | B 757 PE, S 761 PE, S 769 CE, B 773 CE | 2026-10-20 | time_exit | $22 |
| 2026-10-19 Mon | B 759 PE, S 763 PE, S 771 CE, B 775 CE | 2026-10-19 | time_exit | $43 |
| 2026-10-16 Fri | B 764 PE, S 768 PE, S 776 CE, B 780 CE | 2026-10-16 | time_exit | -$362 |
| 2026-10-15 Thu | B 758 PE, S 762 PE, S 770 CE, B 774 CE | 2026-10-15 | time_exit | -$168 |
| 2026-10-14 Wed | B 767 PE, S 771 PE, S 779 CE, B 783 CE | 2026-10-14 | time_exit | -$215 |
| 2026-10-13 Tue | B 770 PE, S 774 PE, S 782 CE, B 786 CE | 2026-10-13 | time_exit | $3 |
| 2026-10-12 Mon | B 771 PE, S 775 PE, S 783 CE, B 787 CE | 2026-10-12 | time_exit | $1 |
| 2026-10-09 Fri | B 768 PE, S 772 PE, S 780 CE, B 784 CE | 2026-10-09 | time_exit | $16 |
| 2026-10-08 Thu | B 767 PE, S 771 PE, S 779 CE, B 783 CE | 2026-10-08 | time_exit | $15 |
| 2026-10-07 Wed | B 767 PE, S 771 PE, S 779 CE, B 783 CE | 2026-10-07 | time_exit | $29 |
| 2026-10-06 Tue | B 771 PE, S 775 PE, S 783 CE, B 787 CE | 2026-10-06 | time_exit | $13 |
| 2026-10-05 Mon | B 763 PE, S 767 PE, S 775 CE, B 779 CE | 2026-10-05 | time_exit | -$32 |
| 2026-10-02 Fri | B 764 PE, S 768 PE, S 776 CE, B 780 CE | 2026-10-02 | time_exit | $38 |
| 2026-10-01 Thu | B 756 PE, S 760 PE, S 768 CE, B 772 CE | 2026-10-01 | time_exit | $62 |
| 2026-09-30 Wed | B 758 PE, S 762 PE, S 770 CE, B 774 CE | 2026-09-30 | time_exit | $35 |
| 2026-09-29 Tue | B 757 PE, S 761 PE, S 769 CE, B 773 CE | 2026-09-29 | time_exit | $37 |
| 2026-09-28 Mon | B 760 PE, S 764 PE, S 772 CE, B 776 CE | 2026-09-28 | time_exit | $19 |
| 2026-09-25 Fri | B 761 PE, S 765 PE, S 773 CE, B 777 CE | 2026-09-25 | time_exit | $10 |
| 2026-09-24 Thu | B 757 PE, S 761 PE, S 769 CE, B 773 CE | 2026-09-24 | time_exit | $20 |
| 2026-09-23 Wed | B 764 PE, S 768 PE, S 776 CE, B 780 CE | 2026-09-23 | time_exit | -$52 |
| 2026-09-22 Tue | B 766 PE, S 770 PE, S 778 CE, B 782 CE | 2026-09-22 | time_exit | $13 |
| 2026-09-21 Mon | B 759 PE, S 763 PE, S 771 CE, B 775 CE | 2026-09-21 | time_exit | -$335 |
| 2026-09-18 Fri | B 753 PE, S 757 PE, S 765 CE, B 769 CE | 2026-09-18 | time_exit | $10 |
| 2026-09-17 Thu | B 753 PE, S 757 PE, S 765 CE, B 769 CE | 2026-09-17 | time_exit | $27 |
| 2026-09-16 Wed | B 751 PE, S 755 PE, S 763 CE, B 767 CE | 2026-09-16 | time_exit | -$104 |
| 2026-09-15 Tue | B 752 PE, S 756 PE, S 764 CE, B 768 CE | 2026-09-15 | time_exit | $5 |
| 2026-09-14 Mon | B 752 PE, S 756 PE, S 764 CE, B 768 CE | 2026-09-14 | time_exit | $16 |
| 2026-09-11 Fri | B 757 PE, S 761 PE, S 769 CE, B 773 CE | 2026-09-11 | time_exit | $28 |
| 2026-09-10 Thu | B 750 PE, S 754 PE, S 762 CE, B 766 CE | 2026-09-10 | time_exit | $30 |
| 2026-09-09 Wed | B 756 PE, S 760 PE, S 768 CE, B 772 CE | 2026-09-09 | time_exit | $18 |
| 2026-09-08 Tue | B 760 PE, S 764 PE, S 772 CE, B 776 CE | 2026-09-08 | time_exit | $12 |
| 2026-09-04 Fri | B 764 PE, S 768 PE, S 776 CE, B 780 CE | 2026-09-04 | time_exit | $15 |
| 2026-09-03 Thu | B 762 PE, S 766 PE, S 774 CE, B 778 CE | 2026-09-03 | time_exit | $3 |
| 2026-09-02 Wed | B 754 PE, S 758 PE, S 766 CE, B 770 CE | 2026-09-02 | time_exit | -$11 |
| 2026-09-01 Tue | B 754 PE, S 758 PE, S 766 CE, B 770 CE | 2026-09-01 | time_exit | $16 |
| 2026-08-31 Mon | B 758 PE, S 762 PE, S 770 CE, B 774 CE | 2026-08-31 | time_exit | $16 |
| 2026-08-28 Fri | B 764 PE, S 768 PE, S 776 CE, B 780 CE | 2026-08-28 | time_exit | $46 |
| 2026-08-27 Thu | B 762 PE, S 766 PE, S 774 CE, B 778 CE | 2026-08-27 | time_exit | $26 |
| 2026-08-26 Wed | B 759 PE, S 763 PE, S 771 CE, B 775 CE | 2026-08-26 | time_exit | $18 |
| 2026-08-25 Tue | B 758 PE, S 762 PE, S 770 CE, B 774 CE | 2026-08-25 | time_exit | $7 |
| 2026-08-24 Mon | B 754 PE, S 758 PE, S 766 CE, B 770 CE | 2026-08-24 | time_exit | $13 |
| 2026-08-21 Fri | B 757 PE, S 761 PE, S 769 CE, B 773 CE | 2026-08-21 | time_exit | $17 |
| 2026-08-20 Thu | B 759 PE, S 763 PE, S 771 CE, B 775 CE | 2026-08-20 | time_exit | -$11 |
| 2026-08-19 Wed | B 762 PE, S 766 PE, S 774 CE, B 778 CE | 2026-08-19 | time_exit | $16 |
| 2026-08-18 Tue | B 761 PE, S 765 PE, S 773 CE, B 777 CE | 2026-08-18 | time_exit | $20 |
| 2026-08-17 Mon | B 767 PE, S 771 PE, S 779 CE, B 783 CE | 2026-08-17 | time_exit | $1 |
| 2026-08-14 Fri | B 770 PE, S 774 PE, S 782 CE, B 786 CE | 2026-08-14 | time_exit | $7 |
| 2026-08-13 Thu | B 768 PE, S 772 PE, S 780 CE, B 784 CE | 2026-08-13 | time_exit | $11 |
| 2026-08-12 Wed | B 765 PE, S 769 PE, S 777 CE, B 781 CE | 2026-08-12 | time_exit | $34 |
| 2026-08-11 Tue | B 765 PE, S 769 PE, S 777 CE, B 781 CE | 2026-08-11 | time_exit | $7 |
| 2026-08-10 Mon | B 765 PE, S 769 PE, S 777 CE, B 781 CE | 2026-08-10 | time_exit | $12 |
| 2026-08-07 Fri | B 764 PE, S 768 PE, S 776 CE, B 780 CE | 2026-08-07 | time_exit | $46 |
| 2026-08-06 Thu | B 763 PE, S 767 PE, S 775 CE, B 779 CE | 2026-08-06 | time_exit | $34 |
| 2026-08-05 Wed | B 768 PE, S 772 PE, S 780 CE, B 784 CE | 2026-08-05 | time_exit | $33 |
| 2026-08-04 Tue | B 754 PE, S 758 PE, S 766 CE, B 770 CE | 2026-08-04 | time_exit | -$356 |
| 2026-08-03 Mon | B 744 PE, S 748 PE, S 756 CE, B 760 CE | 2026-08-03 | time_exit | -$185 |
| 2026-07-31 Fri | B 735 PE, S 739 PE, S 747 CE, B 751 CE | 2026-07-31 | time_exit | -$49 |
| 2026-07-30 Thu | B 729 PE, S 733 PE, S 741 CE, B 745 CE | 2026-07-30 | time_exit | -$48 |
| 2026-07-29 Wed | B 732 PE, S 736 PE, S 744 CE, B 748 CE | 2026-07-29 | time_exit | -$161 |
| 2026-07-28 Tue | B 729 PE, S 733 PE, S 741 CE, B 745 CE | 2026-07-28 | time_exit | $30 |
| 2026-07-27 Mon | B 736 PE, S 740 PE, S 748 CE, B 752 CE | 2026-07-27 | time_exit | -$107 |
| 2026-07-24 Fri | B 731 PE, S 735 PE, S 743 CE, B 747 CE | 2026-07-24 | time_exit | $39 |
| 2026-07-23 Thu | B 734 PE, S 738 PE, S 746 CE, B 750 CE | 2026-07-23 | time_exit | -$104 |
| 2026-07-22 Wed | B 740 PE, S 744 PE, S 752 CE, B 756 CE | 2026-07-22 | time_exit | $30 |
| 2026-07-21 Tue | B 737 PE, S 741 PE, S 749 CE, B 753 CE | 2026-07-21 | time_exit | $34 |
| 2026-07-20 Mon | B 740 PE, S 744 PE, S 752 CE, B 756 CE | 2026-07-20 | time_exit | -$109 |
| 2026-07-17 Fri | B 734 PE, S 738 PE, S 746 CE, B 750 CE | 2026-07-17 | time_exit | $78 |
| 2026-07-16 Thu | B 743 PE, S 747 PE, S 755 CE, B 759 CE | 2026-07-16 | time_exit | $29 |
| 2026-07-15 Wed | B 746 PE, S 750 PE, S 758 CE, B 762 CE | 2026-07-15 | time_exit | $16 |
| 2026-07-14 Tue | B 744 PE, S 748 PE, S 756 CE, B 760 CE | 2026-07-14 | time_exit | $45 |
| 2026-07-13 Mon | B 744 PE, S 748 PE, S 756 CE, B 760 CE | 2026-07-13 | time_exit | $4 |
| 2026-07-10 Fri | B 744 PE, S 748 PE, S 756 CE, B 760 CE | 2026-07-10 | time_exit | $17 |
| 2026-07-09 Thu | B 741 PE, S 745 PE, S 753 CE, B 757 CE | 2026-07-09 | time_exit | $33 |
| 2026-07-08 Wed | B 737 PE, S 741 PE, S 749 CE, B 753 CE | 2026-07-08 | time_exit | $68 |
| 2026-07-07 Tue | B 742 PE, S 746 PE, S 754 CE, B 758 CE | 2026-07-07 | time_exit | $13 |
| 2026-07-06 Mon | B 741 PE, S 745 PE, S 753 CE, B 757 CE | 2026-07-06 | time_exit | $13 |
| 2026-07-02 Thu | B 742 PE, S 746 PE, S 754 CE, B 758 CE | 2026-07-02 | time_exit | -$224 |
| 2026-07-01 Wed | B 736 PE, S 740 PE, S 748 CE, B 752 CE | 2026-07-01 | time_exit | $55 |
| 2026-06-30 Tue | B 734 PE, S 738 PE, S 746 CE, B 750 CE | 2026-06-30 | time_exit | -$50 |
| 2026-06-29 Mon | B 732 PE, S 736 PE, S 744 CE, B 748 CE | 2026-06-29 | time_exit | $39 |
| 2026-06-26 Fri | B 720 PE, S 724 PE, S 732 CE, B 736 CE | 2026-06-26 | time_exit | -$21 |
| 2026-06-25 Thu | B 725 PE, S 729 PE, S 737 CE, B 741 CE | 2026-06-25 | time_exit | $142 |
| 2026-06-24 Wed | B 728 PE, S 732 PE, S 740 CE, B 744 CE | 2026-06-24 | time_exit | $20 |
| 2026-06-23 Tue | B 727 PE, S 731 PE, S 739 CE, B 743 CE | 2026-06-23 | time_exit | $105 |
| 2026-06-22 Mon | B 740 PE, S 744 PE, S 752 CE, B 756 CE | 2026-06-22 | time_exit | -$38 |
| 2026-06-18 Thu | B 737 PE, S 741 PE, S 749 CE, B 753 CE | 2026-06-18 | time_exit | $88 |
| 2026-06-17 Wed | B 743 PE, S 747 PE, S 755 CE, B 759 CE | 2026-06-17 | time_exit | -$290 |
| 2026-06-16 Tue | B 747 PE, S 751 PE, S 759 CE, B 763 CE | 2026-06-16 | time_exit | -$14 |
| 2026-06-15 Mon | B 745 PE, S 749 PE, S 757 CE, B 761 CE | 2026-06-15 | time_exit | $37 |
| 2026-06-12 Fri | B 727 PE, S 731 PE, S 739 CE, B 743 CE | 2026-06-12 | time_exit | -$0 |
| 2026-06-11 Thu | B 721 PE, S 725 PE, S 733 CE, B 737 CE | 2026-06-11 | time_exit | -$233 |
| 2026-06-10 Wed | B 728 PE, S 732 PE, S 740 CE, B 744 CE | 2026-06-10 | time_exit | -$192 |
| 2026-06-09 Tue | B 738 PE, S 742 PE, S 750 CE, B 754 CE | 2026-06-09 | time_exit | -$363 |
| 2026-06-08 Mon | B 735 PE, S 739 PE, S 747 CE, B 751 CE | 2026-06-08 | time_exit | $56 |
| 2026-06-05 Fri | B 742 PE, S 746 PE, S 754 CE, B 758 CE | 2026-06-05 | time_exit | -$336 |
| 2026-06-04 Thu | B 744 PE, S 748 PE, S 756 CE, B 760 CE | 2026-06-04 | time_exit | -$136 |
| 2026-06-03 Wed | B 748 PE, S 752 PE, S 760 CE, B 764 CE | 2026-06-03 | time_exit | $47 |
| 2026-06-02 Tue | B 749 PE, S 753 PE, S 761 CE, B 765 CE | 2026-06-02 | time_exit | $17 |
| 2026-06-01 Mon | B 748 PE, S 752 PE, S 760 CE, B 764 CE | 2026-06-01 | time_exit | $24 |
| 2026-05-29 Fri | B 750 PE, S 754 PE, S 762 CE, B 766 CE | 2026-05-29 | time_exit | $28 |
| 2026-05-28 Thu | B 742 PE, S 746 PE, S 754 CE, B 758 CE | 2026-05-28 | time_exit | -$69 |
| 2026-05-27 Wed | B 742 PE, S 746 PE, S 754 CE, B 758 CE | 2026-05-27 | time_exit | $39 |
| 2026-05-26 Tue | B 743 PE, S 747 PE, S 755 CE, B 759 CE | 2026-05-26 | time_exit | $27 |
| 2026-05-22 Fri | B 740 PE, S 744 PE, S 752 CE, B 756 CE | 2026-05-22 | time_exit | $43 |
| 2026-05-21 Thu | B 730 PE, S 734 PE, S 742 CE, B 746 CE | 2026-05-21 | time_exit | $24 |
| 2026-05-20 Wed | B 728 PE, S 732 PE, S 740 CE, B 744 CE | 2026-05-20 | time_exit | -$84 |
| 2026-05-19 Tue | B 726 PE, S 730 PE, S 738 CE, B 742 CE | 2026-05-19 | time_exit | $87 |
| 2026-05-18 Mon | B 730 PE, S 734 PE, S 742 CE, B 746 CE | 2026-05-18 | time_exit | $56 |
| 2026-05-15 Fri | B 730 PE, S 734 PE, S 742 CE, B 746 CE | 2026-05-15 | time_exit | $91 |
| 2026-05-14 Thu | B 738 PE, S 742 PE, S 750 CE, B 754 CE | 2026-05-14 | time_exit | $38 |
| 2026-05-13 Wed | B 729 PE, S 733 PE, S 741 CE, B 745 CE | 2026-05-13 | time_exit | -$201 |
Other options backtests
- Nifty 09:20 Short Straddle Backtest
- Nifty 09:20 Short Straddle with a 25% Stop Backtest
- Nifty 09:20 Short Strangle Backtest
- Nifty Intraday Iron Condor Backtest
- Nifty Intraday Iron Fly Backtest
- Nifty 09:20 Long Straddle Backtest
- Bank Nifty 09:20 Short Straddle Backtest
- SPY 0DTE Short Straddle Backtest
- SPY 0DTE Iron Fly Backtest
- AAPL Intraday Short Straddle Backtest
- AAPL Intraday Iron Condor Backtest
- AAPL Intraday Long Straddle Backtest
Test Your Own Version
Pick the Iron Condor template with width 4 in the Options Strategy Backtest, change the entry time, strikes, stop or dates, and copy the days into your trading journal.
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This platform is absolutely essential for any trader and I would highly recommend it to any of my trader friends looking for a journal. If you don’t have this platform, you are seriously missing a trick here…
Thanks, PK from TradesViz for being extremely helpful and patient in resolving my syncing issue. Certainly one of the best online support I have ever experienced. Even though it took a while for me to get my settings right, I never felt rushed...I appreciate that. Hope to stay with you guys for a long time. Certainly would like to learn how to utilize most of the features on TradeViz.
In my opinion, the TradesViz platform is truly the Ferrari of journaling software available today. Once you are under the hood, you begin to realize that in fact what sets it so far apart is all the advanced analysis at your fingertips. Such as the ability to combine multiple portfolios, live charting, and much more. Their support is world-class, in my case personally, I needed integration with Trend Spider’s backtesting engine. What I imagined might take weeks was literally accomplished overnight. Factor in rock bottom prices and you have all you need for whatever you're searching for. Newer traders will find that one of the most basic recipes for success is meticulous record keeping, simply observing your account profit and loss go up, or just down as the case may be, is the first step on the road to ruin if your serious about trading.
Trader
I'm writing this testimonial as appreciation for this surprisingly pleasant
conversation.
Upon my initial support request, TradesViz's support was impressively swift. A response appeared every single time as soon as I closed my email tab. Not only did I receive incredibly helpful information about features I wasn't aware of, but the team was also genuinely enthusiastic about discussing my feature requests and ideas about the industry. Truly awesome people!
In terms of raw analytics, comparison, and filtering capabilities, there is no match for TradesViz. I also don't know of any other trading journals that offer so much for the price, their free version has pretty much everything you would need if you trade stocks and offer so many of the paid features that are on other websites for free. They have templates for almost every broker and if it's not there, their support team is only 1 email or message away and will work with you to include your broker on their platform. By far the best support I have gotten from any trading journal as they are open to feedback and feature requests and are very active on their chat for any questions. A trading journal built by traders, for traders.
Professional Futures Day Trader
I wish I had TradesViz when I started to trade ten years ago. I had to learn the hard way. It provides everything you need to maximize your wins and minimize your losses.
There’s a learning curve but once you get past that your trading will surely be taken to the next level.
Founder of ChartLearning.com
As a full-time trader, the first pivot point in my trading results came after I started to learn from Mark Minervini - this is when I stopped losing $$$. The second pivot point came after I started to analyze my results - this is when I started to be consistently profitable $$$.
I love that TradesViz works for Options, Stocks, Crypto! It has automated and manual uploads. It has all the important metrics and analysis that you will need and it is fully customizable.
I have tried pretty much most of the products out there, and TradesViz wins by a mile - highly recommend it! Thanks to PK and the team!
Thanks, @MightySoldiers for turning me on to @tradesviz. I'm loving the customized dashboard. The level of detail and ability to really dig deep on metrics is unparalleled. This tool has helped me so much in defining my trading strategy and where my edge is.
Trader
I was looking for a solution to journal my trades on multiple platforms to keep track of my PNL. I stumbled upon TradesViz and I have nothing but positive to say about their service. Not only does their product make it so easy to see how you are doing on your trades with the various graphs and filtering options, getting your account synced is super intuitive. Best of all their customer service is top-notch. Every time I have asked a question, they have responded within a few hours with a solution, and sometimes that involved programming custom solutions for me to make my life easier. It's a no-brainer for me to pay for the yearly service. Do it, you won't regret it.
E-commerce Analyst and Trader