Butterfly Spread
Butterfly Spread • Jan 1, 2018 - Dec 10, 2025
Backtest Performance
Backtest Metrics
Backtest Summary
This backtest shows a Butterfly Spread strategy on SPY from Jan 1, 2018 - Dec 10, 2025, placing 76 trades that stayed open for an average of 27 days. The results were impressive - winning 75% of the time (57 wins vs 19 losses), which shows remarkable consistency. This translated to $181,242.31 in total profits. On average, each position made $2,384.77. The 13.9% annualized return (CAGR) shows this could be a solid long-term strategy. Impressively, the maximum drawdown was only 3.0%, showing excellent risk control. With a Sharpe ratio of 2.22, the returns were excellent relative to the risk taken. The strategy managed to keep 53.9% of the premium collected. Bottom line: this strategy looks promising for anyone seeking consistent, well-managed returns.
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Trade Log
| Date | Entry | Exit | Exit Reason | P&L | Return | Action |
|---|---|---|---|---|---|---|
| 2018-02-05 | $23.85 | $18.58 | Early Exit | $522.83 | 22.09% | |
| 2018-03-05 | $37.65 | $0.05 | Early Exit | $3,756.21 | 99.87% | |
| 2018-04-09 | $24.58 | $17.30 | Early Exit | $723.52 | 29.60% | |
| 2018-05-14 | $2.23 | $1.43 | Early Exit | $76.16 | 35.93% | |
| 2018-06-18 | $35.91 | $0.05 | Early Exit | $3,582.29 | 99.86% | |
| 2018-07-23 | $35.20 | $0.05 | Early Exit | $3,510.92 | 99.86% | |
| 2018-08-27 | $33.34 | $0.05 | Early Exit | $3,325.30 | 99.85% | |
| 2018-10-01 | $34.09 | $0.05 | Early Exit | $3,399.68 | 99.85% | |
| 2018-11-05 | $25.65 | $23.01 | Early Exit | $260.24 | 10.30% | |
| 2018-12-10 | $24.59 | $34.92 | Early Exit | $-1,036.49 | -41.99% | |
| 2019-01-14 | $12.55 | $2.73 | Early Exit | $978.46 | 78.26% | |
| 2019-03-18 | $22.84 | $14.36 | Early Exit | $844.24 | 37.13% | |
| 2019-04-22 | $11.65 | $16.74 | Early Exit | $-513.26 | -43.74% | |
| 2019-07-01 | $25.15 | $23.19 | Early Exit | $192.68 | 7.82% | |
| 2019-08-05 | $33.13 | $0.05 | Early Exit | $3,303.83 | 99.85% | |
| 2019-09-09 | $13.62 | $16.79 | Early Exit | $-321.39 | -23.31% | |
| 2019-10-14 | $24.67 | $10.01 | Early Exit | $1,461.23 | 59.40% | |
| 2019-11-18 | $13.80 | $6.62 | Early Exit | $713.62 | 52.01% | |
| 2019-12-23 | $46.00 | $0.05 | Early Exit | $4,591.10 | 99.89% | |
| 2020-01-27 | $21.90 | $0.05 | Early Exit | $2,181.18 | 99.77% | |
| 2020-03-02 | $44.62 | $0.05 | Early Exit | $4,452.80 | 99.89% | |
| 2020-04-06 | $80.38 | $60.79 | Early Exit | $1,955.59 | 24.38% | |
| 2020-05-11 | $25.30 | $13.65 | Early Exit | $1,161.57 | 46.07% | |
| 2020-06-15 | $58.27 | $33.67 | Early Exit | $2,456.37 | 42.22% | |
| 2020-07-20 | $19.47 | $9.34 | Early Exit | $1,008.96 | 52.02% | |
| 2020-08-24 | $40.43 | $45.61 | Early Exit | $-521.69 | -12.81% | |
| 2020-09-28 | $110.86 | $0.05 | Early Exit | $11,077.34 | 99.95% | |
| 2020-11-02 | $71.52 | $0.05 | Early Exit | $7,143.06 | 99.93% | |
| 2020-12-07 | $57.56 | $0.05 | Early Exit | $5,746.88 | 99.91% | |
| 2021-01-11 | $42.88 | $31.12 | Early Exit | $1,172.82 | 27.44% | |
| 2021-03-15 | $52.96 | $26.92 | Early Exit | $2,599.65 | 49.16% | |
| 2021-04-19 | $38.56 | $47.65 | Early Exit | $-912.38 | -23.56% | |
| 2021-05-24 | $36.76 | $38.44 | Early Exit | $-172.33 | -4.58% | |
| 2021-06-28 | $18.07 | $12.18 | Early Exit | $585.62 | 32.62% | |
| 2021-08-02 | $40.19 | $25.69 | Early Exit | $1,446.36 | 36.09% | |
| 2021-10-11 | $79.82 | $35.89 | Early Exit | $4,389.75 | 55.04% | |
| 2021-11-15 | $25.85 | $27.92 | Early Exit | $-211.17 | -8.02% | |
| 2021-12-20 | $54.64 | $61.87 | Early Exit | $-727.34 | -13.24% | |
| 2022-01-24 | $112.33 | $0.05 | Early Exit | $11,224.41 | 99.96% | |
| 2022-02-28 | $97.82 | $0.05 | Early Exit | $9,773.47 | 99.95% | |
| 2022-03-28 | $29.77 | $43.94 | Early Exit | $-1,421.03 | -47.61% | |
| 2022-05-02 | $53.12 | $61.18 | Early Exit | $-810.15 | -15.18% | |
| 2022-06-06 | $56.48 | $0.05 | Early Exit | $5,638.78 | 99.91% | |
| 2022-07-11 | $118.67 | $0.05 | Early Exit | $11,858.32 | 99.96% | |
| 2022-08-15 | $26.46 | $0.05 | Early Exit | $2,637.08 | 99.81% | |
| 2022-09-19 | $47.58 | $70.45 | Early Exit | $-2,290.18 | -48.05% | |
| 2022-10-24 | $144.14 | $0.05 | Early Exit | $14,405.49 | 99.97% | |
| 2022-11-28 | $50.67 | $0.05 | Early Exit | $5,057.85 | 99.90% | |
| 2023-02-06 | $15.34 | $26.15 | Early Exit | $-1,084.56 | -70.45% | |
| 2023-03-06 | $38.87 | $49.90 | Early Exit | $-1,107.64 | -28.40% |