| Leg | Strike | Action | Role |
|---|---|---|---|
| Long Put | ATM − $15 | Buy | Lower wing — defines max loss on downside |
| Short Put | ATM − $10 | Sell | Lower body — OTM premium collection |
| Short Call | ATM + $10 | Sell | Upper body — OTM premium collection |
| Long Call | ATM + $15 | Buy | Upper wing — defines max loss on upside |
| Net credit at open | Max profit = credit × 100 × 40 (SPY stays between ±$10 short strikes) |
| SPY breaches either short strike and moves $5 further | Max loss = ($5 wing − credit) × 100 × 40 |
| Avg net credit collected | $0.8775 / share (17.5% of wing width) |
| Average winner | +$2,439 |
| Average loser | $-2,447 |
| Best trade | +$6,160 (2026-02-23) |
| Worst trade | $-4,384 (2026-06-22) |
| Total gross wins | +$124,400 |
| Total gross losses | $-48,944 |
| Metric | Value | Notes |
|---|---|---|
| Avg max profit / trade | $3,510 | Net credit × 100 × 40 |
| Avg max loss / trade | $16,490 | ($5 wing − credit) × 100 × 40 |
| Max drawdown | $5,792 | Peak-to-trough cumulative equity |
| Best single trade | +$6,160 | 2026-02-23 open |
| Worst single trade | $-4,384 | 2026-06-22 open |
Total P&L of +$75,456 over 71 trades across 2024–2026. The iron condor profits when SPY stays within the ±$10 short strike corridor, giving more room than an ATM butterfly.
Iron condors typically target 60–70% win rates due to OTM short strikes. A 71.8% win rate over 71 trades reflects the wider profit zone versus an ATM butterfly.
The iron condor places short strikes ±$10 from ATM, giving SPY a $20 corridor to move before the position becomes a loser at expiry. This is wider than the butterfly but collects less premium per trade. Average credit: $0.8775/share vs ~$2–4 for an ATM butterfly.
Three entry filters mirror weekly_iron_condor_spy.py: (1) Credit filter — skip weeks where net credit exceeds 40% of wing width (high-IV signal); (2) Prior-week range — skip if last week's SPY H−L / close > 3.0% (vol-clustering signal); (3) Monday gap — skip if SPY opens >0.8% from prior Friday close (overnight directional risk).
All pricing uses real OPRA daily bar data from Alpaca. No commissions, slippage, or early-assignment risk modelled. Stop-loss (80% of max profit) is checked at each Tuesday/Wednesday/Thursday daily close — intraday triggers in the live script may exit at a better price than shown here.
📋 Full Trade Log is not displayed on mobile devices to prevent page freezing. View this report on a desktop browser to see all 71 trades.
| Open Date | Expiry | SPY Open | SPY Close | ATM | LP / SP / SC / LC | Credit Open | Credit Close | P&L | Cum P&L |
|---|---|---|---|---|---|---|---|---|---|
| 2024-01-22 | 2024-01-26 | $484.00 | $488.02 | 484 | 469/474/494/499 | $0.1800 | $0.0400 | +$560 | +$560 |
| 2024-02-12 | 2024-02-16 | $501.23 | $501.97 | 501 | 486/491/511/516 | $0.3300 | $0.5940 | $-1,056 | $-496 |
| 2024-03-04 | 2024-03-08 | $512.19 | $515.12 | 512 | 497/502/522/527 | $0.3700 | $0.0800 | +$1,160 | +$664 |
| 2024-03-11 | 2024-03-15 | $510.39 | $514.86 | 510 | 495/500/520/525 | $0.8900 | $0.3900 | +$2,000 | +$2,664 |
| 2024-03-18 | 2024-03-22 | $513.26 | $522.08 | 513 | 498/503/523/528 | $0.8300 | $0.9700 | $-560 | +$2,104 |
| 2024-03-25 | 2024-04-05 | $519.78 | $523.13 | 520 | 505/510/530/535 | $0.9000 | $0.5800 | +$1,280 | +$3,384 |
| 2024-04-01 | 2024-04-05 | $523.71 | $513.12 | 524 | 509/514/534/539 | $0.3000 | $0.5400 | $-960 | +$2,424 |
| 2024-04-08 | 2024-04-12 | $519.24 | $518.05 | 519 | 504/509/529/534 | $0.8700 | $0.0400 | +$3,320 | +$5,744 |
| 2024-04-29 | 2024-05-03 | $510.26 | $505.03 | 510 | 495/500/520/525 | $0.8800 | $1.5840 | $-2,816 | +$2,928 |
| 2024-05-06 | 2024-05-10 | $513.77 | $520.16 | 514 | 499/504/524/529 | $0.3500 | $0.0400 | +$1,240 | +$4,168 |
| 2024-05-13 | 2024-05-17 | $522.62 | $528.83 | 523 | 508/513/533/538 | $0.5400 | $0.0600 | +$1,920 | +$6,088 |
| 2024-05-20 | 2024-05-24 | $529.56 | $525.96 | 530 | 515/520/540/545 | $0.3100 | $0.1500 | +$640 | +$6,728 |
| 2024-06-03 | 2024-06-07 | $529.05 | $534.63 | 529 | 514/519/539/544 | $0.3600 | $0.2600 | +$400 | +$7,128 |
| 2024-06-10 | 2024-06-14 | $533.25 | $542.35 | 533 | 518/523/543/548 | $0.8000 | $0.9000 | $-400 | +$6,728 |
| 2024-06-24 | 2024-06-28 | $544.37 | $546.37 | 544 | 529/534/554/559 | $0.4400 | $0.1000 | +$1,360 | +$8,088 |
| 2024-07-01 | 2024-07-05 | $545.54 | $554.73 | 546 | 531/536/556/561 | $0.2400 | $0.0500 | +$760 | +$8,848 |
| 2024-07-08 | 2024-07-12 | $555.35 | $556.42 | 555 | 540/545/565/570 | $0.3400 | $0.6120 | $-1,088 | +$7,760 |
| 2024-07-15 | 2024-07-19 | $562.18 | $552.80 | 562 | 547/552/572/577 | $0.4200 | $0.7560 | $-1,344 | +$6,416 |
| 2024-08-26 | 2024-08-30 | $563.43 | $558.31 | 563 | 548/553/573/578 | $0.9200 | $0.1600 | +$3,040 | +$9,456 |
| 2024-09-23 | 2024-09-27 | $569.27 | $572.17 | 569 | 554/559/579/584 | $0.6700 | $0.2200 | +$1,800 | +$11,256 |
| 2024-09-30 | 2024-10-04 | $570.50 | $567.76 | 571 | 556/561/581/586 | $1.1600 | $0.5000 | +$2,640 | +$13,896 |
| 2024-10-07 | 2024-10-11 | $571.26 | $576.20 | 571 | 556/561/581/586 | $1.1400 | $0.1300 | +$4,040 | +$17,936 |
| 2024-10-14 | 2024-10-18 | $581.22 | $582.32 | 581 | 566/571/591/596 | $0.5700 | $0.1700 | +$1,600 | +$19,536 |
| 2024-10-21 | 2024-10-25 | $583.91 | $579.23 | 584 | 569/574/594/599 | $0.4300 | $0.1600 | +$1,080 | +$20,616 |
| 2024-10-28 | 2024-11-01 | $582.62 | $568.46 | 583 | 568/573/593/598 | $1.0600 | $1.9080 | $-3,392 | +$17,224 |
| 2024-11-18 | 2024-11-22 | $585.95 | $593.66 | 586 | 571/576/596/601 | $1.0400 | $0.8200 | +$880 | +$18,104 |
| 2024-11-25 | 2024-11-29 | $599.49 | $602.49 | 599 | 584/589/609/614 | $0.3600 | $0.0800 | +$1,120 | +$19,224 |
| 2024-12-09 | 2024-12-13 | $607.59 | $604.39 | 608 | 593/598/618/623 | $0.3000 | $0.0500 | +$1,000 | +$20,224 |
| 2024-12-16 | 2024-12-20 | $606.00 | $586.12 | 606 | 591/596/616/621 | $0.4800 | $0.8640 | $-1,536 | +$18,688 |
| 2025-01-06 | 2025-01-10 | $595.96 | $580.49 | 596 | 581/586/606/611 | $0.8400 | $1.5120 | $-2,688 | +$16,000 |
| 2025-02-10 | 2025-02-14 | $604.02 | $609.69 | 604 | 589/594/614/619 | $0.9400 | $0.2500 | +$2,760 | +$18,760 |
| 2025-02-24 | 2025-02-28 | $602.01 | $585.03 | 602 | 587/592/612/617 | $1.2300 | $2.2140 | $-3,936 | +$14,824 |
| 2025-06-02 | 2025-06-06 | $587.76 | $593.08 | 588 | 573/578/598/603 | $1.4600 | $0.6900 | +$3,080 | +$17,904 |
| 2025-06-09 | 2025-06-13 | $599.75 | $603.72 | 600 | 585/590/610/615 | $1.1200 | $0.4100 | +$2,840 | +$20,744 |
| 2025-06-16 | 2025-06-20 | $600.43 | $594.18 | 600 | 585/590/610/615 | $1.0400 | $0.0100 | +$4,120 | +$24,864 |
| 2025-06-23 | 2025-06-27 | $595.07 | $611.91 | 595 | 580/585/605/610 | $1.1800 | $2.1240 | $-3,776 | +$21,088 |
| 2025-07-07 | 2025-07-11 | $623.33 | $625.96 | 623 | 608/613/633/638 | $0.9800 | $0.4600 | +$2,080 | +$23,168 |
| 2025-07-14 | 2025-07-18 | $623.13 | $627.98 | 623 | 608/613/633/638 | $0.8700 | $0.2300 | +$2,560 | +$25,728 |
| 2025-07-21 | 2025-07-25 | $628.76 | $634.49 | 629 | 614/619/639/644 | $0.5600 | $0.1500 | +$1,640 | +$27,368 |
| 2025-08-18 | 2025-08-22 | $642.86 | $635.63 | 643 | 628/633/653/658 | $0.7600 | $1.0400 | $-1,120 | +$26,248 |
| 2025-08-25 | 2025-08-29 | $644.01 | $648.94 | 644 | 629/634/654/659 | $0.7900 | $0.0900 | +$2,800 | +$29,048 |
| 2025-09-08 | 2025-09-12 | $648.64 | $657.55 | 649 | 634/639/659/664 | $0.6900 | $0.6200 | +$280 | +$29,328 |
| 2025-09-15 | 2025-09-19 | $659.58 | $662.26 | 660 | 645/650/670/675 | $0.7200 | $0.1300 | +$2,360 | +$31,688 |
| 2025-09-22 | 2025-09-26 | $662.21 | $657.79 | 662 | 647/652/672/677 | $0.6900 | $0.2000 | +$1,960 | +$33,648 |
| 2025-09-29 | 2025-10-03 | $664.38 | $669.15 | 664 | 649/654/674/679 | $0.8400 | $0.4000 | +$1,760 | +$35,408 |
| 2025-10-06 | 2025-10-10 | $671.62 | $671.19 | 672 | 657/662/682/687 | $0.5600 | $0.1200 | +$1,760 | +$37,168 |
| 2025-10-20 | 2025-10-24 | $667.30 | $671.52 | 667 | 652/657/677/682 | $1.3600 | $0.5000 | +$3,440 | +$40,608 |
| 2025-11-03 | 2025-11-07 | $685.67 | $670.24 | 686 | 671/676/696/701 | $1.1000 | $1.9800 | $-3,520 | +$37,088 |
| 2025-12-08 | 2025-12-12 | $686.46 | $689.15 | 686 | 671/676/696/701 | $1.4300 | $0.4100 | +$4,080 | +$41,168 |
| 2025-12-15 | 2025-12-19 | $685.75 | $676.51 | 686 | 671/676/696/701 | $1.1700 | $2.1060 | $-3,744 | +$37,424 |
| 2025-12-22 | 2025-12-26 | $683.92 | $690.26 | 684 | 669/674/694/699 | $0.3600 | $0.0600 | +$1,200 | +$38,624 |
| 2025-12-29 | 2026-01-02 | $687.57 | $683.33 | 688 | 673/678/698/703 | $0.4400 | $0.1700 | +$1,080 | +$39,704 |
| 2026-01-05 | 2026-01-09 | $686.51 | $689.44 | 687 | 672/677/697/702 | $0.7700 | $0.3000 | +$1,880 | +$41,584 |
| 2026-01-12 | 2026-01-16 | $690.68 | $692.18 | 691 | 676/681/701/706 | $1.0000 | $0.3800 | +$2,480 | +$44,064 |
| 2026-01-26 | 2026-01-30 | $690.49 | $693.97 | 690 | 675/680/700/705 | $1.3000 | $0.2700 | +$4,120 | +$48,184 |
| 2026-02-02 | 2026-02-06 | $689.62 | $677.44 | 690 | 675/680/700/705 | $1.6600 | $2.3200 | $-2,640 | +$45,544 |
| 2026-02-23 | 2026-02-27 | $687.80 | $689.32 | 688 | 673/678/698/703 | $1.6900 | $0.1500 | +$6,160 | +$51,704 |
| 2026-04-27 | 2026-05-01 | $713.18 | $718.41 | 713 | 698/703/723/728 | $1.7500 | $0.4500 | +$5,200 | +$56,904 |
| 2026-05-04 | 2026-05-08 | $720.03 | $731.53 | 720 | 705/710/730/735 | $1.3500 | $2.4300 | $-4,320 | +$52,584 |
| 2026-05-18 | 2026-05-22 | $739.83 | $742.71 | 740 | 725/730/750/755 | $1.7700 | $0.3800 | +$5,560 | +$58,144 |
| 2026-06-01 | 2026-06-05 | $755.56 | $756.97 | 756 | 741/746/766/771 | $1.1300 | $0.5000 | +$2,520 | +$60,664 |
| 2026-06-22 | 2026-06-26 | $747.65 | $733.33 | 748 | 733/738/758/763 | $1.3700 | $2.4660 | $-4,384 | +$56,280 |
| 2026-07-06 | 2026-07-10 | $748.22 | $751.55 | 748 | 733/738/758/763 | $0.9900 | $0.1000 | +$3,560 | +$59,840 |
| 2026-07-13 | 2026-07-17 | $752.62 | $750.87 | 753 | 738/743/763/768 | $1.0400 | $0.2900 | +$3,000 | +$62,840 |
| 2026-07-20 | 2026-07-24 | $747.04 | $738.06 | 747 | 732/737/757/762 | $1.4400 | $0.3400 | +$4,400 | +$67,240 |
| 2026-08-03 | 2026-08-07 | $749.49 | $768.64 | 749 | 734/739/759/764 | $1.1300 | $2.0340 | $-3,616 | +$63,624 |
| 2026-08-17 | 2026-08-21 | $776.26 | $762.62 | 776 | 761/766/786/791 | $0.6400 | $1.1520 | $-2,048 | +$61,576 |
| 2026-08-24 | 2026-08-28 | $764.75 | $771.18 | 765 | 750/755/775/780 | $1.3000 | $0.4500 | +$3,400 | +$64,976 |
| 2026-08-31 | 2026-09-04 | $767.32 | $773.12 | 767 | 752/757/777/782 | $0.9000 | $0.4100 | +$1,960 | +$66,936 |
| 2026-09-14 | 2026-09-18 | $759.04 | $762.64 | 759 | 744/749/769/774 | $1.6300 | $0.1600 | +$5,880 | +$72,816 |
| 2026-09-21 | 2026-09-25 | $766.30 | $767.29 | 766 | 751/756/776/781 | $0.8300 | $0.1700 | +$2,640 | +$75,456 |