| Filter | Status |
|---|---|
| None — all days traded | |
| Avg credit ratio (traded days) | 0.514 (5.14/10) |
| Avg straddle % of QQQ (traded days) | 3.211% |
| Leg | Strike | Action | Role |
|---|---|---|---|
| Long Put | ATM − $10 | Buy | Outer put wing — defines max loss on downside |
| Short Put | ATM | Sell | ATM short — max profit zone (butterfly body) |
| Short Call | ATM | Sell | ATM short — max profit zone (butterfly body) |
| Long Call | ATM + $10 | Buy | Outer call wing — defines max loss on upside |
| Net credit at open (9:40 ET) | Max profit = credit × 100 × 40 (at expiry if QQQ = ATM) |
| QQQ moves > $10 from ATM | Max loss = ($10 − credit) × 100 × 40 |
| Avg net credit collected | $5.1414 per share |
| Auto-exit profit target | Close if P&L ≥ +90% of max profit |
| Auto-exit stop loss | Close if P&L ≤ −80% of max profit |
| Average winner | +$377 |
| Average loser | $-524 |
| Best trade | +$730 (2026-02-05) |
| Worst trade | $-1,160 (2026-03-26) |
| Total gross wins | +$5,650 |
| Total gross losses | $-3,670 |
Total P&L of +$1,980 over 22 trades across Jan–2026-07-22. The iron butterfly's ATM structure collects short-term premium on QQQ, a highly liquid ETF with excellent OPRA data coverage.
The live script monitors positions every 5 minutes and can exit intraday. This backtest applies +90%/−80% thresholds at the 14:20 ET bar close only, understating how often stops would trigger intraday. Real performance may differ.
With QQQ trading near $400–500, a ±$10 wing is a relatively narrow ~1.7% range. In high-volatility periods QQQ can easily move more than $10 intraday, frequently triggering max loss. Consider widening wings (±$15–$25) or reducing QTY for live trading.
📋 Full Trade Log is not displayed on mobile devices to prevent page freezing. View this report on a desktop browser to see all 22 trades.
| Date | Day | Expiry | QQQ Open | ATM | LP/SP/SC/LC | Credit Open | Cr/Wing | Straddle% | Credit Close | P&L | Cum P&L | Exit |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-01-06 | Tuesday | 2026-01-09 | $190.49 | 190 | 180/190/190/200 | $5.1600 | 0.516 | 3.082% | $4.9000 | +$260 | +$260 | SCHED |
| 2026-01-13 | Tuesday | 2026-01-16 | $184.87 | 185 | 175/185/185/195 | $4.7400 | 0.474 | 2.845% | $4.6200 | +$120 | +$380 | SCHED |
| 2026-01-14 | Wednesday | 2026-01-16 | $182.46 | 182 | 172/182/182/192 | $4.4900 | 0.449 | 2.696% | $3.7700 | +$720 | +$1,100 | SCHED |
| 2026-01-16 | Friday | 2026-01-23 | $190.25 | 190 | 180/190/190/200 | $5.5400 | 0.554 | 3.511% | $5.2500 | +$290 | +$1,390 | SCHED |
| 2026-01-20 | Tuesday | 2026-01-23 | $180.49 | 180 | 170/180/180/190 | $5.5900 | 0.559 | 3.712% | $5.2200 | +$370 | +$1,760 | SCHED |
| 2026-01-22 | Thursday | 2026-01-23 | $185.26 | 185 | 175/185/185/195 | $3.3800 | 0.338 | 1.895% | $2.7000 | +$680 | +$2,440 | SCHED |
| 2026-02-05 | Thursday | 2026-02-06 | $175.19 | 175 | 165/175/175/185 | $4.9400 | 0.494 | 3.191% | $4.2100 | +$730 | +$3,170 | SCHED |
| 2026-02-09 | Monday | 2026-02-13 | $189.51 | 190 | 180/190/190/200 | $6.1800 | 0.618 | 4.301% | $5.9000 | +$280 | +$3,450 | SCHED |
| 2026-02-10 | Tuesday | 2026-02-13 | $190.16 | 190 | 180/190/190/200 | $5.3800 | 0.538 | 3.434% | $5.4200 | $-40 | +$3,410 | SCHED |
| 2026-03-13 | Friday | 2026-03-20 | $184.89 | 185 | 175/185/185/195 | $6.4600 | 0.646 | 4.954% | $6.4700 | $-10 | +$3,400 | SCHED |
| 2026-03-24 | Tuesday | 2026-03-27 | $175.14 | 175 | 165/175/175/185 | $5.0500 | 0.505 | 3.209% | $4.6900 | +$360 | +$3,760 | SCHED |
| 2026-03-25 | Wednesday | 2026-03-27 | $179.56 | 180 | 170/180/180/190 | $3.9900 | 0.399 | 2.356% | $3.4600 | +$530 | +$4,290 | SCHED |
| 2026-03-26 | Thursday | 2026-03-27 | $175.46 | 175 | 165/175/175/185 | $3.2700 | 0.327 | 1.921% | $4.4300 | $-1,160 | +$3,130 | SCHED |
| 2026-04-10 | Friday | 2026-04-17 | $185.26 | 185 | 175/185/185/195 | $5.2500 | 0.525 | 3.384% | $6.2300 | $-980 | +$2,150 | SCHED |
| 2026-04-20 | Monday | 2026-04-24 | $199.56 | 200 | 190/200/200/210 | $5.3400 | 0.534 | 3.142% | $5.2600 | +$80 | +$2,230 | SCHED |
| 2026-04-22 | Wednesday | 2026-04-24 | $200.02 | 200 | 190/200/200/210 | $4.1600 | 0.416 | 2.245% | $4.3300 | $-170 | +$2,060 | SCHED |
| 2026-05-04 | Monday | 2026-05-08 | $200.28 | 200 | 190/200/200/210 | $5.9400 | 0.594 | 3.745% | $5.4400 | +$500 | +$2,560 | SCHED |
| 2026-05-26 | Tuesday | 2026-05-29 | $215.36 | 215 | 205/215/215/225 | $5.7500 | 0.575 | 3.436% | $5.3400 | +$410 | +$2,970 | SCHED |
| 2026-06-01 | Monday | 2026-06-05 | $220.19 | 220 | 210/220/220/230 | $6.6500 | 0.665 | 4.337% | $6.5600 | +$90 | +$3,060 | SCHED |
| 2026-06-04 | Thursday | 2026-06-05 | $215.05 | 215 | 205/215/215/225 | $4.4800 | 0.448 | 2.362% | $5.4800 | $-1,000 | +$2,060 | SCHED |
| 2026-06-09 | Tuesday | 2026-06-12 | $209.74 | 210 | 200/210/210/220 | $5.6400 | 0.564 | 3.266% | $5.9500 | $-310 | +$1,750 | SCHED |
| 2026-07-06 | Monday | 2026-07-10 | $195.38 | 195 | 185/195/195/205 | $5.7300 | 0.573 | 3.629% | $5.5000 | +$230 | +$1,980 | SCHED |