SPX Backtest Leaderboard
Top performing SPX options strategies ranked by total P&L
| Rank | Strategy | Total P&L | Win Rate | CAGR | Sharpe | Trades | Date Range |
|---|---|---|---|---|---|---|---|
|
🥇
1
|
Iron Condor
Iron Condor
|
$119,047,990.17
positive
|
96.3% | 62.6% | 17.52 | 708 | Jan 1, 2010 - Dec 31, 2025 |
|
🥈
2
|
Short Put
Short Put
|
$116,510,082.18
positive
|
99.5% | 32.6% | 26.22 | 864 | Dec 10, 2000 - Dec 10, 2025 |
|
🥉
3
|
Short Put
Short Put
|
$115,747,075.28
positive
|
99.5% | 32.3% | 26.12 | 864 | Dec 10, 2000 - Feb 17, 2026 |
|
4
|
Iron Condor
Iron Condor
|
$83,363,696.85
positive
|
97.2% | 59.0% | 12.39 | 708 | Jan 1, 2010 - Dec 31, 2025 |
|
5
|
Iron Condor
Iron Condor
|
$83,363,696.85
positive
|
97.2% | 47.8% | 11.36 | 708 | Jan 1, 2007 - Dec 31, 2025 |
|
6
|
Short Put
Short Put
|
$36,294,881.18
positive
|
98.3% | 613.7% | 26.79 | 175 | Dec 10, 2022 - Dec 10, 2025 |
|
7
|
Iron Condor
Iron Condor
|
$25,837,295.27
positive
|
96.4% | 671.8% | 12.28 | 140 | Dec 10, 2022 - Dec 31, 2025 |
|
8
|
Iron Condor
Iron Condor
|
$25,837,295.27
positive
|
96.4% | 671.8% | 12.28 | 140 | Dec 10, 2022 - Dec 31, 2025 |
|
9
|
Iron Condor
Iron Condor
|
$25,608,955.30
positive
|
96.4% | 669.6% | 12.18 | 139 | Dec 10, 2022 - Dec 31, 2025 |
|
10
|
Iron Condor
Iron Condor
|
$19,251,818.75
positive
|
100.0% | 459.4% | 66.22 | 124 | Dec 10, 2022 - Dec 31, 2025 |
|
11
|
Iron Condor
Iron Condor
|
$18,515,975.64
positive
|
98.9% | 1,617.9% | 15.48 | 94 | Dec 1, 2021 - Dec 31, 2023 |
|
12
|
Iron Condor
Iron Condor
|
$13,402,018.25
positive
|
96.4% | 397.3% | 12.28 | 140 | Dec 10, 2022 - Dec 31, 2025 |
|
13
|
Iron Condor
Iron Condor
|
$13,402,018.25
positive
|
96.4% | 397.3% | 12.28 | 140 | Dec 10, 2022 - Dec 31, 2025 |
|
14
|
Short Call
Short Call
|
$10,495,602.98
positive
|
95.5% | 927.7% | 11.13 | 22 | Dec 10, 2023 - Dec 10, 2025 |
|
15
|
Credit Put Spread
Credit Put Spread
|
$10,179,746.27
positive
|
89.6% | 31.5% | 6.06 | 577 | Jan 10, 2009 - Dec 10, 2025 |
|
16
|
Credit Put Spread
Credit Put Spread
|
$8,749,182.50
positive
|
76.4% | 4.3% | 0.49 | 3646 | Nov 8, 2010 - Dec 10, 2025 |
|
17
|
Long Call
Long Call
|
$8,034,560.40
positive
|
77.2% | 8,059.1% | 12.71 | 250 | Dec 10, 2024 - Dec 10, 2025 |
|
18
|
Long Call
Long Call
|
$8,034,560.40
positive
|
77.2% | 8,059.1% | 12.71 | 250 | Dec 10, 2024 - Dec 10, 2025 |
|
19
|
Cash Secured Put
Cash Secured Put
|
$6,921,733.43
positive
|
61.0% | 53.0% | 1.99 | 187 | Dec 10, 2015 - Dec 10, 2025 |
|
20
|
Short Put
Short Put
|
$6,563,722.02
positive
|
73.9% | 52.2% | 2.62 | 395 | Dec 10, 2015 - Dec 10, 2025 |
|
21
|
Short Put
Short Put
|
$5,030,864.12
positive
|
83.4% | 29.8% | 1.27 | 775 | Nov 8, 2010 - Dec 10, 2025 |
|
22
|
Long Call
Long Call
|
$4,857,558.10
positive
|
52.2% | 4,870.8% | 9.50 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
23
|
Iron Condor
Iron Condor
|
$4,586,110.60
positive
|
80.7% | 29.0% | 0.53 | 3678 | Nov 8, 2010 - Dec 10, 2025 |
|
24
|
Protective Put
Protective Put
|
$4,287,852.30
positive
|
65.6% | 10,000.0% | 8.57 | 189 | Dec 10, 2024 - Dec 10, 2025 |
|
25
|
Protective Put
Protective Put
|
$4,287,852.30
positive
|
65.6% | 10,000.0% | 8.57 | 189 | Dec 10, 2024 - Dec 10, 2025 |
|
26
|
Protective Put
Protective Put
|
$4,287,852.30
positive
|
65.6% | 10,000.0% | 8.57 | 189 | Dec 10, 2024 - Dec 10, 2025 |
|
27
|
Protective Put
Protective Put
|
$4,156,030.10
positive
|
65.0% | 10,000.0% | 7.64 | 177 | Jan 6, 2025 - Feb 28, 2026 |
|
28
|
Protective Put
Protective Put
|
$3,991,036.70
positive
|
64.6% | 10,000.0% | 7.56 | 175 | Jan 6, 2025 - Feb 28, 2026 |
|
29
|
Protective Put
Protective Put
|
$3,991,036.70
positive
|
64.6% | 10,000.0% | 7.56 | 175 | Jan 6, 2025 - Feb 28, 2026 |
|
30
|
Credit Put Spread
Credit Put Spread
|
$3,734,119.70
positive
|
79.8% | 58.5% | 4.34 | 475 | Jan 10, 2018 - Dec 10, 2025 |
|
31
|
Credit Put Spread
Credit Put Spread
|
$3,357,663.60
positive
|
80.6% | 56.5% | 4.34 | 397 | Jan 10, 2018 - Dec 10, 2025 |
|
32
|
Long Straddle
Long Straddle
|
$3,312,022.12
positive
|
94.5% | 34.0% | 13.78 | 507 | Dec 10, 2020 - Dec 10, 2025 |
|
33
|
Short Put
Short Put
|
$2,811,505.14
positive
|
54.4% | 25.1% | 1.21 | 147 | Nov 10, 2010 - Dec 10, 2025 |
|
34
|
Short Put
Short Put
|
$2,786,331.40
positive
|
75.7% | 95.9% | 1.62 | 230 | Dec 10, 2020 - Dec 10, 2025 |
|
35
|
Short Put
Short Put
|
$2,677,802.60
positive
|
27.4% | 2,684.1% | 5.84 | 226 | Dec 10, 2024 - Dec 10, 2025 |
|
36
|
Protective Put
Protective Put
|
$2,555,465.70
positive
|
67.3% | 10,000.0% | 5.61 | 110 | Jan 6, 2025 - Mar 20, 2026 |
|
37
|
Short Put
Short Put
|
$2,410,862.25
positive
|
83.6% | 202.1% | 2.25 | 61 | Jan 10, 2023 - Dec 10, 2025 |
|
38
|
Iron Condor
Iron Condor
|
$2,297,757.97
positive
|
53.0% | 86.2% | 0.72 | 349 | Jan 1, 2019 - Dec 31, 2025 |
|
39
|
Short Put
Short Put
|
$2,295,120.20
positive
|
72.5% | 197.2% | 2.57 | 69 | Jan 10, 2023 - Dec 10, 2025 |
|
40
|
Custom Strategy |
$1,975,089.93
positive
|
95.6% | 106.6% | 28.37 | 988 | Jan 3, 2022 - Mar 10, 2026 |
|
41
|
Iron Condor
Iron Condor
|
$1,924,840.97
positive
|
71.0% | 82.5% | 4.26 | 1248 | Dec 10, 2020 - Dec 10, 2025 |
|
42
|
SPX 0 DTE Iron Condor
SPX 0 DTE Iron Condor
|
$1,730,936.70
positive
|
77.9% | 489.8% | 14.31 | 467 | Jan 1, 2024 - Jan 31, 2026 |
|
43
|
SPX 0 DTE Iron Condor
SPX 0 DTE Iron Condor
|
$1,730,936.70
positive
|
77.9% | 489.8% | 14.31 | 467 | Jan 1, 2024 - Jan 31, 2026 |
|
44
|
Credit Put Spread
Credit Put Spread
|
$1,673,461.66
positive
|
71.9% | 33.3% | 0.78 | 430 | Dec 10, 2015 - Dec 10, 2025 |
|
45
|
Credit Put Spread
Credit Put Spread
|
$1,463,445.39
positive
|
94.3% | 99.0% | 5.78 | 35 | Jan 2, 2022 - Dec 31, 2025 |
|
46
|
Custom Strategy |
$1,420,646.80
positive
|
79.9% | 519.3% | 9.72 | 657 | Dec 10, 2022 - Dec 10, 2025 |
|
47
|
Credit Put Spread
Credit Put Spread
|
$1,391,955.90
positive
|
96.6% | 146.1% | 5.72 | 29 | Dec 10, 2022 - Dec 10, 2025 |
|
48
|
Short Put
Short Put
|
$1,357,344.81
positive
|
85.5% | 144.2% | 5.89 | 131 | Dec 10, 2022 - Dec 10, 2025 |
|
49
|
Credit Put Spread
Credit Put Spread
|
$1,309,583.21
positive
|
70.6% | 30.3% | 0.81 | 470 | Dec 10, 2015 - Dec 10, 2025 |
|
50
|
Credit Put Spread
Credit Put Spread
|
$1,196,992.00
positive
|
70.6% | 18.5% | 1.65 | 3037 | Nov 8, 2010 - Dec 10, 2025 |
|
51
|
Iron Condor
Iron Condor
|
$1,188,365.00
positive
|
86.9% | 1,190.6% | 19.92 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
52
|
Credit Put Spread
Credit Put Spread
|
$1,182,219.30
positive
|
78.5% | 29.3% | -0.87 | 2316 | Jan 1, 2016 - Dec 10, 2025 |
|
53
|
Credit Put Spread
Credit Put Spread
|
$1,182,219.30
positive
|
78.5% | 29.3% | -0.87 | 2316 | Jan 1, 2016 - Dec 10, 2025 |
|
54
|
Long Call
Long Call
|
$1,175,778.00
positive
|
52.0% | 1,178.0% | 4.56 | 50 | Dec 10, 2024 - Dec 10, 2025 |
|
55
|
Long Call
Long Call
|
$1,175,778.00
positive
|
52.0% | 1,178.0% | 4.56 | 50 | Dec 10, 2024 - Dec 10, 2025 |
|
56
|
Long Call
Long Call
|
$1,042,696.80
positive
|
52.0% | 1,044.6% | 5.71 | 98 | Dec 10, 2024 - Dec 10, 2025 |
|
57
|
Credit Put Spread
Credit Put Spread
|
$1,026,150.16
positive
|
88.6% | 83.3% | 2.97 | 35 | Jan 2, 2022 - Dec 31, 2025 |
|
58
|
Long Call
Long Call
|
$963,347.01
positive
|
40.2% | 965.1% | 3.74 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
59
|
Long Call
Long Call
|
$963,347.01
positive
|
40.2% | 965.1% | 3.74 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
60
|
Long Call
Long Call
|
$963,347.01
positive
|
40.2% | 965.1% | 3.74 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
61
|
Long Call
Long Call
|
$963,347.01
positive
|
40.2% | 965.1% | 3.74 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
62
|
Long Straddle
Long Straddle
|
$913,551.33
positive
|
95.1% | 26.1% | 3.53 | 324 | Dec 10, 2015 - Dec 10, 2025 |
|
63
|
Short Put
Short Put
|
$903,193.15
positive
|
90.5% | 216.5% | 1.26 | 95 | Dec 10, 2023 - Dec 10, 2025 |
|
64
|
Short Put
Short Put
|
$887,675.41
positive
|
76.0% | 58.1% | 3.82 | 1248 | Dec 10, 2020 - Dec 10, 2025 |
|
65
|
Short Put
Short Put
|
$815,465.18
positive
|
39.5% | 816.9% | 6.35 | 114 | Dec 10, 2024 - Dec 10, 2025 |
|
66
|
Long Put
Long Put
|
$803,604.40
positive
|
26.1% | 1.6% | 5.09 | 909 | Feb 10, 2021 - Feb 10, 2026 |
|
67
|
Long Put
Long Put
|
$803,415.81
positive
|
25.6% | 1.6% | 5.08 | 931 | Dec 10, 2020 - Dec 10, 2025 |
|
68
|
Long Call
Long Call
|
$746,605.82
positive
|
56.6% | 190.8% | 6.99 | 502 | Dec 10, 2023 - Dec 10, 2025 |
|
69
|
Iron Condor
Iron Condor
|
$738,223.40
positive
|
62.2% | 59.0% | 0.06 | 296 | May 10, 2021 - Dec 10, 2025 |
|
70
|
Long Call
Long Call
|
$731,699.35
positive
|
82.1% | 1,424.6% | 5.53 | 39 | Mar 1, 2025 - Dec 10, 2025 |
|
71
|
Credit Put Spread
Credit Put Spread
|
$721,139.80
positive
|
69.8% | 52.4% | 0.82 | 252 | Dec 10, 2020 - Dec 10, 2025 |
|
72
|
Credit Put Spread
Credit Put Spread
|
$640,693.40
positive
|
72.6% | 49.3% | 0.31 | 230 | Dec 10, 2020 - Dec 10, 2025 |
|
73
|
Credit Put Spread
Credit Put Spread
|
$628,461.85
positive
|
73.6% | 48.8% | 0.57 | 227 | Dec 10, 2020 - Dec 10, 2025 |
|
74
|
Long Call
Long Call
|
$627,292.72
positive
|
29.9% | 64.2% | 1.94 | 358 | Dec 10, 2021 - Dec 10, 2025 |
|
75
|
Long Call
Long Call
|
$627,292.72
positive
|
29.9% | 64.2% | 1.94 | 358 | Dec 10, 2021 - Dec 10, 2025 |
|
76
|
Long Call
Long Call
|
$627,292.72
positive
|
29.9% | 64.2% | 1.94 | 358 | Dec 10, 2021 - Dec 10, 2025 |
|
77
|
Custom Strategy |
$617,151.50
positive
|
42.3% | 618.1% | -0.25 | 111 | Dec 10, 2024 - Dec 10, 2025 |
|
78
|
Credit Put Spread
Credit Put Spread
|
$601,829.53
positive
|
68.3% | 47.7% | 0.69 | 252 | Dec 10, 2020 - Dec 10, 2025 |
|
79
|
Credit Put Spread
Credit Put Spread
|
$592,079.88
positive
|
13.5% | 21.3% | 1.96 | 355 | Dec 10, 2015 - Dec 10, 2025 |
|
80
|
Custom Strategy |
$591,466.80
positive
|
84.9% | 9,889.2% | 12.29 | 238 | Dec 10, 2024 - Dec 10, 2025 |
|
81
|
Credit Put Spread
Credit Put Spread
|
$568,988.68
positive
|
43.2% | 569.9% | 5.53 | 139 | Dec 10, 2024 - Dec 10, 2025 |
|
82
|
Short Put
Short Put
|
$523,165.40
positive
|
90.1% | 149.5% | 2.09 | 101 | Dec 10, 2023 - Dec 10, 2025 |
|
83
|
Short Put
Short Put
|
$516,704.70
positive
|
93.2% | 5,181.4% | 7.62 | 59 | Dec 10, 2024 - Dec 10, 2025 |
|
84
|
Short Put
Short Put
|
$506,418.95
positive
|
84.1% | 58.5% | 1.55 | 44 | Dec 1, 2019 - Oct 31, 2023 |
|
85
|
Credit Put Spread
Credit Put Spread
|
$504,023.35
positive
|
64.8% | 43.3% | 0.14 | 230 | Dec 10, 2020 - Dec 10, 2025 |
|
86
|
Iron Condor
Iron Condor
|
$503,297.42
positive
|
72.5% | 504.0% | 5.45 | 251 | Dec 10, 2024 - Dec 10, 2025 |
|
87
|
Long Straddle
Long Straddle
|
$496,737.64
positive
|
96.7% | 43.0% | 5.01 | 92 | Dec 10, 2020 - Dec 10, 2025 |
|
88
|
Long Straddle
Long Straddle
|
$487,631.42
positive
|
82.1% | 10,000.0% | 11.94 | 184 | Dec 10, 2024 - Dec 10, 2025 |
|
89
|
Long Straddle
Long Straddle
|
$487,631.42
positive
|
82.1% | 10,000.0% | 11.94 | 184 | Dec 10, 2024 - Dec 10, 2025 |
|
90
|
Long Straddle
Long Straddle
|
$473,981.25
positive
|
97.5% | 41.8% | 5.50 | 81 | Dec 10, 2020 - Dec 10, 2025 |
|
91
|
Long Straddle
Long Straddle
|
$473,981.25
positive
|
97.5% | 41.8% | 5.50 | 81 | Dec 10, 2020 - Dec 10, 2025 |
|
92
|
Calendar Spread
Calendar Spread
|
$470,536.17
positive
|
23.0% | 471.2% | 4.31 | 226 | Dec 10, 2024 - Dec 10, 2025 |
|
93
|
Long Call
Long Call
|
$469,692.74
positive
|
23.5% | 54.5% | 0.99 | 306 | Dec 10, 2021 - Dec 10, 2025 |
|
94
|
Long Call
Long Call
|
$467,882.74
positive
|
23.5% | 54.4% | 0.98 | 306 | Dec 10, 2021 - Dec 10, 2025 |
|
95
|
Long Straddle
Long Straddle
|
$451,065.64
positive
|
97.6% | 40.7% | 5.51 | 82 | Dec 10, 2020 - Dec 10, 2025 |
|
96
|
Iron Condor
Iron Condor
|
$435,193.25
positive
|
73.5% | 74.9% | 1.82 | 599 | Dec 10, 2022 - Dec 10, 2025 |
|
97
|
Short Put
Short Put
|
$431,242.10
positive
|
94.6% | 74.5% | 3.89 | 37 | Dec 10, 2022 - Dec 10, 2025 |
|
98
|
Iron Condor
Iron Condor
|
$418,332.50
positive
|
41.1% | 149.8% | 0.96 | 314 | Dec 10, 2022 - Jan 30, 2026 |
|
99
|
Credit Put Spread
Credit Put Spread
|
$402,660.30
positive
|
32.0% | 403.2% | 5.79 | 206 | Dec 10, 2024 - Dec 10, 2025 |
|
100
|
Iron Condor
Iron Condor
|
$400,679.86
positive
|
45.6% | 540.0% | -0.58 | 502 | Dec 10, 2023 - Dec 10, 2025 |
SPX Options Strategy Leaderboard
Our SPX options backtest leaderboard ranks the top performing strategies based on total P&L. Each entry represents a real backtest simulation using historical SPX options data.
How the Leaderboard Works
- Ranking Criteria: Backtests are ranked by total P&L (profit and loss)
- Public Results: Only publicly shared backtests appear on the leaderboard
- Time Periods: Filter by this month, this year, or all-time performance
- Verified Data: All results calculated from real historical SPX options data
- Privacy Protected: User identities are anonymized for privacy
Understanding Performance Metrics
When evaluating top SPX strategies, consider these key metrics:
- Total P&L: The absolute profit or loss from the strategy over the backtest period
- Win Rate: Percentage of trades that were profitable - higher is generally better
- CAGR: Compound Annual Growth Rate shows annualized returns for comparison
- Sharpe Ratio: Risk-adjusted returns - higher values indicate better risk/reward
- Max Drawdown: Largest peak-to-trough decline - shows worst-case scenario
- Total Trades: Sample size matters - more trades provide statistical confidence
What Makes a SPX Strategy Successful?
Top performing SPX strategies typically share these characteristics:
- Consistent positive returns across multiple trades
- Controlled maximum drawdown (typically under 20%)
- High Sharpe ratio indicating good risk-adjusted returns
- Win rate balanced with favorable risk/reward ratio
- Performance across different market conditions
- Realistic commission and slippage assumptions
Join the Leaderboard
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