| Minimum Net Credit | Entries / Weeks | Total P&L | Win Rate | Avg / Trade |
|---|---|---|---|---|
| > $0 (none) | 33 / 33 | +$2,012 | 75.8% | +$61 |
| $600 | 31 / 33 | +$2,101 | 77.4% | +$68 |
| $650 | 22 / 33 | +$1,299 | 72.7% | +$59 |
| $700 ← live | 15 / 33 | +$1,618 | 86.7% | +$108 |
| $750 | 6 / 33 | +$603 | 83.3% | +$100 |
| $800 | 4 / 33 | +$652 | 100.0% | +$163 |
| Leg | Strike | Action | Role |
|---|---|---|---|
| Long Put | ATM − wing | Buy | Downside protection — caps max loss |
| Short Put | ATM | Sell | Body of the butterfly |
| Short Call | ATM | Sell | Body of the butterfly |
| Long Call | ATM + wing | Buy | Upside protection — caps max loss |
| Net credit at entry (9:40 ET) | Maximum profit if SPY finishes inside the short strikes |
| SPY beyond a long wing | Maximum loss = wing width × 100 − credit |
| Avg net credit collected | $755 per contract |
| Exit | Closed as soon as P&L reaches +$150 per contract (checked every minute); otherwise at Thu 15:40 ET by a scheduled job |
| Average winner | +$160 |
| Average loser | -$232 |
| Best trade | +$196 (2026-04-27) |
| Worst trade | -$258 (2026-04-13) |
| Total gross wins | +$2,082 |
| Total gross losses | -$464 |
Total P&L of +$1,618 over 15 trades, 87% winners. Average winner +$160 vs average loser -$232.
13 of 15 trades closed early at the target; the rest were held to the Thursday 15:40 ET exit. No stop loss: in testing, every stop made results worse, because dips usually recovered and overnight gaps jumped the stop. The target was chosen on this same data, so these results flatter it.
Only 15 weekly trades in the window. A single bad week moves every statistic on this page; treat the Sharpe and annualised figures as rough.
No commissions or slippage are modelled. At $4 per round trip (the slippage assumed in the exit-rule sweep) the total would be +$1,558.
📋 Full Trade Log is not displayed on mobile devices to prevent page freezing. View this report on a desktop browser to see all 15 trades.
| Entry | Day | Expiry | SPY 9:40 | LP/SP/SC/LC | Credit In | Cost to Close | P&L | Cum P&L | Exit |
|---|---|---|---|---|---|---|---|---|---|
| 2026-01-20 | Tuesday | 2026-01-23 | $682.48 | 672/682/682/692 | $729 | $579 | +$150 | +$150 | 01-21 11:26 target |
| 2026-02-02 | Monday | 2026-02-06 | $691.95 | 682/692/692/702 | $711 | $561 | +$150 | +$300 | 02-04 10:28 target |
| 2026-02-09 | Monday | 2026-02-13 | $691.14 | 681/691/691/701 | $712 | $555 | +$157 | +$457 | 02-12 09:58 target |
| 2026-02-17 | Tuesday | 2026-02-20 | $682.48 | 672/682/682/692 | $734 | $584 | +$150 | +$607 | 02-19 12:07 target |
| 2026-02-23 | Monday | 2026-02-27 | $689.56 | 680/690/690/700 | $715 | $555 | +$160 | +$767 | 02-26 09:43 target |
| 2026-03-02 | Monday | 2026-03-06 | $681.00 | 671/681/681/691 | $801 | $643 | +$158 | +$925 | 03-03 12:54 target |
| 2026-03-09 | Monday | 2026-03-13 | $664.74 | 655/665/665/675 | $850 | $690 | +$160 | +$1,085 | 03-11 11:00 target |
| 2026-03-16 | Monday | 2026-03-20 | $669.02 | 659/669/669/679 | $826 | $676 | +$150 | +$1,235 | 03-18 10:48 target |
| 2026-03-23 | Monday | 2026-03-27 | $658.28 | 648/658/658/668 | $827 | $643 | +$184 | +$1,419 | 03-24 10:59 target |
| 2026-04-06 | Monday | 2026-04-10 | $656.56 | 647/657/657/667 | $795 | $1,001 | -$206 | +$1,213 | 04-09 15:40 |
| 2026-04-13 | Monday | 2026-04-17 | $677.25 | 667/677/677/687 | $714 | $972 | -$258 | +$955 | 04-16 15:40 |
| 2026-04-27 | Monday | 2026-05-01 | $714.36 | 704/714/714/724 | $735 | $539 | +$196 | +$1,151 | 04-30 09:30 target |
| 2026-05-18 | Monday | 2026-05-22 | $738.72 | 729/739/739/749 | $709 | $557 | +$152 | +$1,303 | 05-21 09:30 target |
| 2026-06-08 | Monday | 2026-06-12 | $741.62 | 732/742/742/752 | $762 | $605 | +$157 | +$1,460 | 06-09 15:22 target |
| 2026-07-27 | Monday | 2026-07-31 | $744.97 | 735/745/745/755 | $709 | $551 | +$158 | +$1,618 | 07-30 10:28 target |