SPY Backtest Leaderboard
Top performing SPY options strategies ranked by total P&L
| Rank | Strategy | Total P&L | Win Rate | CAGR | Sharpe | Trades | Date Range |
|---|---|---|---|---|---|---|---|
|
🥇
1
|
Long Call
Long Call
|
$231,723,453.64
positive
|
70.7% | 316.3% | 3.59 | 300 | Jan 1, 2020 - Dec 2, 2025 |
|
🥈
2
|
Long Call
Long Call
|
$199,233,685.49
positive
|
73.1% | 356.5% | 3.67 | 271 | Jan 1, 2020 - Dec 1, 2025 |
|
🥉
3
|
Long Call
Long Call
|
$199,233,685.49
positive
|
73.1% | 356.5% | 3.67 | 271 | Jan 1, 2020 - Dec 1, 2025 |
|
4
|
Long Call
Long Call
|
$192,298,541.94
positive
|
72.9% | 353.8% | 3.61 | 269 | Jan 1, 2020 - Dec 1, 2025 |
|
5
|
Long Call
Long Call
|
$156,520,678.77
positive
|
96.1% | 338.2% | 11.77 | 205 | Jan 1, 2020 - Dec 1, 2025 |
|
6
|
Iron Condor
Iron Condor
|
$59,279,063.78
positive
|
82.5% | 141.5% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
7
|
Iron Condor
Iron Condor
|
$59,279,063.78
positive
|
82.5% | 141.5% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
8
|
Long Call
Long Call
|
$44,215,051.39
positive
|
48.5% | 436.1% | 1.74 | 260 | Dec 10, 2020 - Dec 10, 2025 |
|
9
|
Long Call
Long Call
|
$25,452,911.07
positive
|
72.5% | 380.0% | 0.75 | 171 | Dec 10, 2020 - Dec 10, 2025 |
|
10
|
Credit Call Spread
Credit Call Spread
|
$9,566,728.00
positive
|
82.6% | 60.3% | 12.16 | 673 | Dec 10, 2020 - Dec 10, 2025 |
|
11
|
Diagonal Spread
Diagonal Spread
|
$8,429,913.06
positive
|
50.8% | 284.9% | 1.98 | 486 | Dec 10, 2020 - Dec 10, 2025 |
|
12
|
Long Straddle
Long Straddle
|
$6,804,696.00
positive
|
77.2% | 1,948.4% | 10.84 | 241 | Dec 10, 2024 - Dec 10, 2025 |
|
13
|
Credit Put Spread
Credit Put Spread
|
$6,487,719.92
positive
|
91.6% | 52.0% | 4.00 | 522 | Dec 10, 2015 - Dec 10, 2025 |
|
14
|
Diagonal Spread
Diagonal Spread
|
$5,658,723.98
positive
|
56.8% | 125.0% | 1.66 | 486 | Dec 10, 2020 - Dec 10, 2025 |
|
15
|
Short Put
Short Put
|
$5,572,886.92
positive
|
62.2% | 64.2% | 11.60 | 1506 | Dec 10, 2019 - Dec 10, 2025 |
|
16
|
Short Put
Short Put
|
$4,473,286.77
positive
|
62.2% | 58.6% | 11.60 | 1506 | Dec 10, 2019 - Dec 10, 2025 |
|
17
|
Diagonal Spread
Diagonal Spread
|
$3,908,584.51
positive
|
50.4% | 109.2% | 1.43 | 486 | Dec 10, 2020 - Dec 10, 2025 |
|
18
|
Iron Condor
Iron Condor
|
$3,899,530.70
positive
|
95.8% | 31.4% | 11.62 | 692 | Jan 1, 2010 - Dec 31, 2025 |
|
19
|
Diagonal Spread
Diagonal Spread
|
$3,861,983.68
positive
|
50.4% | 108.8% | 1.43 | 486 | Dec 10, 2020 - Dec 10, 2025 |
|
20
|
Iron Condor
Iron Condor
|
$3,843,326.67
positive
|
85.4% | 54.9% | 21.37 | 1259 | Dec 10, 2019 - Dec 10, 2025 |
|
21
|
Diagonal Spread
Diagonal Spread
|
$3,752,186.96
positive
|
57.4% | 351.6% | 1.46 | 364 | Dec 10, 2020 - Dec 10, 2025 |
|
22
|
$3,674,510.00
positive
|
48.3% | 88.8% | 1.75 | 58 | Mar 24, 2020 - Dec 10, 2025 | |
|
23
|
Iron Condor
Iron Condor
|
$3,155,005.79
positive
|
82.5% | 50.3% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
24
|
Iron Condor
Iron Condor
|
$3,097,120.69
positive
|
82.5% | 49.8% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
25
|
Iron Condor
Iron Condor
|
$3,097,120.69
positive
|
82.5% | 49.8% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
26
|
Iron Condor
Iron Condor
|
$3,097,120.69
positive
|
82.5% | 49.8% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
27
|
Diagonal Spread
Diagonal Spread
|
$3,071,878.42
positive
|
56.5% | 99.7% | 1.15 | 253 | Dec 10, 2020 - Dec 10, 2025 |
|
28
|
Diagonal Spread
Diagonal Spread
|
$3,069,762.08
positive
|
48.6% | 333.9% | 1.41 | 366 | Dec 10, 2020 - Dec 10, 2025 |
|
29
|
Short Put
Short Put
|
$2,753,268.94
positive
|
62.2% | 47.2% | 11.60 | 1506 | Dec 10, 2019 - Dec 10, 2025 |
|
30
|
Long Call
Long Call
|
$2,504,245.01
positive
|
80.6% | 91.9% | 3.31 | 438 | Dec 10, 2020 - Dec 10, 2025 |
|
31
|
Short Put
Short Put
|
$2,251,202.28
positive
|
62.2% | 42.9% | 11.60 | 1506 | Dec 10, 2019 - Dec 10, 2025 |
|
32
|
Long Call
Long Call
|
$2,128,793.36
positive
|
46.2% | 192.5% | 1.39 | 260 | Dec 10, 2020 - Dec 10, 2025 |
|
33
|
Custom Strategy |
$2,127,364.37
positive
|
69.7% | 67.7% | 14.32 | 1493 | Dec 10, 2019 - Dec 10, 2025 |
|
34
|
Credit Put Spread
Credit Put Spread
|
$2,026,097.26
positive
|
45.2% | 66.4% | 6.02 | 1508 | Dec 10, 2019 - Dec 10, 2025 |
|
35
|
Credit Put Spread
Credit Put Spread
|
$2,026,097.26
positive
|
45.2% | 66.4% | 6.02 | 1508 | Dec 10, 2019 - Dec 10, 2025 |
|
36
|
Iron Condor
Iron Condor
|
$1,948,384.05
positive
|
85.4% | 39.9% | 21.37 | 1259 | Dec 10, 2019 - Dec 10, 2025 |
|
37
|
Custom Strategy |
$1,801,577.20
positive
|
11.8% | 67.4% | 1.40 | 262 | Mar 24, 2020 - Dec 10, 2025 |
|
38
|
Butterfly Spread
Butterfly Spread
|
$1,752,673.00
positive
|
75.0% | 44.4% | 2.22 | 76 | Jan 1, 2018 - Dec 10, 2025 |
|
39
|
$1,742,832.90
positive
|
50.2% | 21.3% | 4.07 | 1466 | Nov 10, 2010 - Dec 10, 2025 | |
|
40
|
Custom Strategy |
$1,689,568.45
positive
|
64.1% | 61.7% | 11.27 | 1493 | Dec 10, 2019 - Dec 10, 2025 |
|
41
|
Short Put
Short Put
|
$1,687,268.33
positive
|
62.2% | 45.4% | 11.60 | 1506 | Dec 10, 2019 - Dec 10, 2025 |
|
42
|
Long Call
Long Call
|
$1,591,501.80
positive
|
70.2% | 176.0% | 3.01 | 225 | Dec 10, 2020 - Dec 10, 2025 |
|
43
|
Short Put
Short Put
|
$1,545,367.48
positive
|
64.4% | 35.4% | 11.51 | 1495 | Dec 10, 2019 - Dec 10, 2025 |
|
44
|
Iron Condor
Iron Condor
|
$1,443,575.65
positive
|
56.4% | 31.5% | 0.19 | 530 | Dec 10, 2015 - Dec 10, 2025 |
|
45
|
Diagonal Spread
Diagonal Spread
|
$1,417,888.37
positive
|
51.4% | 72.3% | 1.02 | 253 | Dec 10, 2020 - Dec 10, 2025 |
|
46
|
Long Call
Long Call
|
$1,352,439.14
positive
|
67.0% | 167.3% | 2.52 | 224 | Dec 10, 2020 - Dec 10, 2025 |
|
47
|
Custom Strategy |
$1,305,548.15
positive
|
69.4% | 55.3% | 14.40 | 1492 | Dec 10, 2019 - Dec 10, 2025 |
|
48
|
Credit Put Spread
Credit Put Spread
|
$1,289,004.25
positive
|
70.3% | 69.3% | 4.99 | 1183 | Dec 31, 2014 - Dec 31, 2019 |
|
49
|
Credit Put Spread
Credit Put Spread
|
$1,284,507.76
positive
|
60.1% | 69.2% | 6.38 | 1210 | Dec 31, 2014 - Dec 31, 2019 |
|
50
|
Iron Condor
Iron Condor
|
$1,268,269.19
positive
|
82.5% | 31.7% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
51
|
Iron Condor
Iron Condor
|
$1,268,269.19
positive
|
82.5% | 31.7% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
52
|
Iron Condor
Iron Condor
|
$1,268,269.19
positive
|
82.5% | 31.7% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
53
|
Custom Strategy |
$1,246,995.00
positive
|
60.2% | 54.2% | 8.70 | 1494 | Dec 10, 2019 - Dec 10, 2025 |
|
54
|
Iron Condor
Iron Condor
|
$1,226,078.87
positive
|
84.8% | 67.7% | 12.61 | 849 | Dec 10, 2020 - Dec 10, 2025 |
|
55
|
Long Straddle
Long Straddle
|
$1,222,852.94
positive
|
93.8% | 8.3% | 13.08 | 2497 | Dec 10, 2015 - Dec 10, 2025 |
|
56
|
Iron Condor
Iron Condor
|
$1,219,639.55
positive
|
96.4% | 132.5% | 10.12 | 140 | Dec 10, 2022 - Dec 31, 2025 |
|
57
|
Short Put
Short Put
|
$1,171,734.09
positive
|
60.8% | 37.8% | 9.44 | 1508 | Dec 10, 2019 - Dec 10, 2025 |
|
58
|
Daily Income Bot
Daily Income Bot
|
$1,165,708.76
positive
|
58.2% | 52.6% | 10.59 | 1482 | Dec 10, 2019 - Dec 10, 2025 |
|
59
|
Short Put
Short Put
|
$1,158,154.52
positive
|
63.5% | 310.1% | 1.75 | 230 | Dec 8, 2020 - Dec 8, 2025 |
|
60
|
Credit Put Spread
Credit Put Spread
|
$1,047,368.73
positive
|
58.4% | 50.2% | 10.70 | 1496 | Dec 10, 2019 - Dec 10, 2025 |
|
61
|
Short Put
Short Put
|
$1,026,882.19
positive
|
62.0% | 28.1% | 8.33 | 1493 | Dec 10, 2019 - Dec 10, 2025 |
|
62
|
Cash Secured Put
Cash Secured Put
|
$996,340.50
positive
|
72.8% | 17.2% | 4.63 | 2242 | Nov 10, 2010 - Dec 10, 2025 |
|
63
|
Short Put
Short Put
|
$931,181.59
positive
|
51.5% | 47.5% | 6.82 | 1377 | Dec 10, 2019 - Dec 10, 2025 |
|
64
|
Iron Condor
Iron Condor
|
$910,389.25
positive
|
96.8% | 218.1% | 11.39 | 93 | Jan 1, 2024 - Dec 31, 2025 |
|
65
|
Iron Condor
Iron Condor
|
$909,376.51
positive
|
95.5% | 250.9% | 10.52 | 111 | Dec 10, 2022 - Dec 31, 2025 |
|
66
|
Iron Condor
Iron Condor
|
$909,376.51
positive
|
95.5% | 250.9% | 10.52 | 111 | Dec 10, 2022 - Dec 31, 2025 |
|
67
|
Covered Call
Covered Call
|
$905,710.92
positive
|
42.1% | 16.6% | 1.40 | 1493 | Dec 10, 2010 - Dec 10, 2025 |
|
68
|
Credit Put Spread
Credit Put Spread
|
$901,932.86
positive
|
95.4% | 909.9% | 6.80 | 43 | Jan 1, 2025 - Dec 31, 2025 |
|
69
|
Credit Put Spread
Credit Put Spread
|
$893,568.55
positive
|
71.9% | 58.3% | 5.16 | 1187 | Dec 31, 2014 - Dec 31, 2019 |
|
70
|
Long Straddle
Long Straddle
|
$884,497.44
positive
|
94.9% | 58.0% | 21.15 | 1246 | Dec 10, 2020 - Dec 10, 2025 |
|
71
|
Long Straddle
Long Straddle
|
$884,497.44
positive
|
94.9% | 58.0% | 21.15 | 1246 | Dec 10, 2020 - Dec 10, 2025 |
|
72
|
Custom Strategy |
$852,953.57
positive
|
70.6% | 45.6% | 15.02 | 1488 | Dec 10, 2019 - Dec 10, 2025 |
|
73
|
Credit Put Spread
Credit Put Spread
|
$843,790.44
positive
|
57.5% | 43.0% | 2.60 | 268 | Jan 1, 2020 - Apr 10, 2026 |
|
74
|
Iron Condor
Iron Condor
|
$813,522.19
positive
|
96.5% | 238.6% | 8.80 | 113 | Dec 10, 2022 - Dec 31, 2025 |
|
75
|
Long Straddle
Long Straddle
|
$809,249.49
positive
|
94.7% | 55.5% | 21.29 | 1137 | Dec 10, 2020 - Dec 10, 2025 |
|
76
|
Credit Put Spread
Credit Put Spread
|
$771,128.67
positive
|
73.5% | 21.9% | 3.45 | 1248 | Jan 1, 2015 - Dec 10, 2025 |
|
77
|
Wheel Strategy
Wheel Strategy
|
$771,128.67
positive
|
73.5% | 21.9% | 3.45 | 1248 | Jan 1, 2015 - Dec 10, 2025 |
|
78
|
Short Put
Short Put
|
$771,128.67
positive
|
73.5% | 21.9% | 3.45 | 1248 | Jan 1, 2015 - Dec 10, 2025 |
|
79
|
Short Put
Short Put
|
$771,128.67
positive
|
73.5% | 21.9% | 3.45 | 1248 | Jan 1, 2015 - Dec 10, 2025 |
|
80
|
Long Call
Long Call
|
$745,309.60
positive
|
77.0% | 137.5% | 1.78 | 248 | Dec 10, 2020 - Dec 10, 2025 |
|
81
|
Credit Put Spread
Credit Put Spread
|
$745,161.90
positive
|
84.0% | 53.3% | 1.63 | 1158 | Dec 31, 2014 - Dec 31, 2019 |
|
82
|
Short Put
Short Put
|
$739,768.43
positive
|
73.5% | 23.7% | 3.51 | 1141 | Dec 10, 2015 - Dec 10, 2025 |
|
83
|
Short Put
Short Put
|
$730,881.14
positive
|
59.0% | 42.3% | 8.64 | 1508 | Dec 10, 2019 - Dec 10, 2025 |
|
84
|
Iron Condor
Iron Condor
|
$721,787.83
positive
|
56.4% | 23.4% | 0.19 | 530 | Dec 10, 2015 - Dec 10, 2025 |
|
85
|
Credit Put Spread
Credit Put Spread
|
$721,213.60
positive
|
75.4% | 13.0% | 1.72 | 207 | Dec 10, 2015 - Dec 10, 2025 |
|
86
|
Short Put
Short Put
|
$715,258.80
positive
|
71.8% | 21.1% | 3.33 | 974 | Jan 1, 2015 - Dec 10, 2025 |
|
87
|
Iron Condor
Iron Condor
|
$703,974.20
positive
|
56.9% | 14.9% | -0.07 | 1706 | Dec 10, 2010 - Dec 10, 2025 |
|
88
|
Credit Put Spread
Credit Put Spread
|
$690,735.25
positive
|
75.9% | 42.9% | 1.72 | 207 | Dec 10, 2015 - Dec 10, 2025 |
|
89
|
Short Put
Short Put
|
$680,428.24
positive
|
60.0% | 40.8% | 9.69 | 1508 | Dec 10, 2019 - Dec 10, 2025 |
|
90
|
Short Put
Short Put
|
$679,639.30
positive
|
71.8% | 22.8% | 3.37 | 890 | Dec 10, 2015 - Dec 10, 2025 |
|
91
|
Credit Put Spread
Credit Put Spread
|
$679,092.45
positive
|
39.2% | 40.8% | 1.41 | 1507 | Dec 10, 2019 - Dec 10, 2025 |
|
92
|
Daily Income Bot
Daily Income Bot
|
$645,646.42
positive
|
59.2% | 39.8% | 4.60 | 1294 | Dec 10, 2019 - Dec 10, 2025 |
|
93
|
Daily Income Bot
Daily Income Bot
|
$645,646.42
positive
|
59.2% | 39.8% | 4.60 | 1294 | Dec 10, 2019 - Dec 10, 2025 |
|
94
|
Short Put
Short Put
|
$642,447.65
positive
|
78.0% | 22.2% | 3.06 | 1486 | Dec 10, 2015 - Dec 10, 2025 |
|
95
|
Iron Condor
Iron Condor
|
$634,134.59
positive
|
82.5% | 20.8% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
96
|
Iron Condor
Iron Condor
|
$634,134.59
positive
|
82.5% | 20.8% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
97
|
Short Put
Short Put
|
$633,024.74
positive
|
78.9% | 26.8% | 8.26 | 1508 | Dec 10, 2019 - Dec 10, 2025 |
|
98
|
Short Put
Short Put
|
$631,034.63
positive
|
61.2% | 39.3% | 11.09 | 1493 | Dec 10, 2019 - Dec 10, 2025 |
|
99
|
Iron Condor
Iron Condor
|
$624,452.34
positive
|
82.5% | 39.1% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
|
100
|
Iron Condor
Iron Condor
|
$624,452.34
positive
|
82.5% | 39.1% | 22.97 | 1447 | Dec 10, 2019 - Dec 10, 2025 |
SPY Options Strategy Leaderboard
Our SPY options backtest leaderboard ranks the top performing strategies based on total P&L. Each entry represents a real backtest simulation using historical SPY 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 SPY options data
- Privacy Protected: User identities are anonymized for privacy
Understanding Performance Metrics
When evaluating top SPY 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 SPY Strategy Successful?
Top performing SPY 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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