Follow the example
Choose a step to follow the example. Opening a request lets you review it; it does not submit a job or change your account.
Start with one long call
Open the long-call example. It specifies SPY, the SMA50 entry, a $1,000 premium budget and trend/time exits, so you can follow one strategy before comparing spreads.
Open the long-call exampleOne concrete example with saved rules, a completed curve and captured selected contracts.
Inspect its risk and pricing
Follow the full history and the largest decline. Compare recorded fills with quote coverage, commissions and modeled slippage; read the SPY comparator assumptions.
Risk and costs beside the return. An expiration payoff calculator is a different scenario from this historical result.
Preview a complete draft
Use the long-call guide's Aurora request. Inspect all opening and closing rules before saving or asking for a new test.
A first draft that can be checked against the published example, with trading kept off.
From an idea to an inspectable result
Create
Write complete entry, contract-selection, allocation and exit rules, then verify the saved draft.
Backtest
Run fixed dates with declared capital and fees. Explore the full historical curve and trade events.
Inspect
Trace a signal through its selected contracts, size decision, filled orders and close.
15 algorithms with completed backtests
Explore long calls and puts, all four directional call and put spreads, condors, straddles, strangles, calendars, diagonals, butterflies and covered income strategies. Every page includes exact saved rules, its completed 2024 simulation, full curve and captured trade events. The calendar and diagonal candidates executed no trades; their pages show the resolver's rejection diagnostics.
Long call: rules and completed backtest
Buy one SPY call with a premium cap, trend exit and time exit. 2024 model: 31.16% return; 13.27% reported drawdown. Inspect the captured fills.
Open pageBull call spread: rules and completed backtest
Buy an ATM SPY call and sell a higher-strike call with trend and time exits. 2024 model: 26.49% return; 14.19% reported drawdown. Inspect the captured fills.
Open pageLong put: algorithm and completed backtest
A bearish trend rule buys an ATM put and closes when the trend reverses or time runs short. 2024 model: -26.04% return; 41.94% reported drawdown. Inspect the captured fills.
Open pageBear put spread: algorithm and completed backtest
A bearish debit spread buys the higher-strike put and sells the lower-strike put. 2024 model: -13.34% return; 23.74% reported drawdown. Inspect the captured fills.
Open pageBull put spread: algorithm and completed backtest
A bullish credit spread sells the higher-strike put and buys a lower-strike hedge. Size depends on risk and collateral, not credit received. 2024 model: 12.68% return; 11.38% reported drawdown. Inspect the captured fills.
Open pageBear call spread: algorithm and completed backtest
A bearish credit spread sells the lower-strike call and buys a higher-strike hedge. 2024 model: -11.21% return; 22.67% reported drawdown. Inspect the captured fills.
Open pageIron condor: algorithm and completed backtest
A range rule combines a put credit spread and call credit spread. All four legs must share an expiration and close together. 2024 model: -5.50% return; 5.63% reported drawdown. Inspect the captured fills.
Open pageLong straddle: algorithm and completed backtest
A momentum trigger buys an ATM call and put. The move must cover both premiums and costs; direction alone does not decide the payoff. 2024 model: -5.35% return; 9.26% reported drawdown. Inspect the captured fills.
Open pageLong strangle: algorithm and completed backtest
A momentum trigger buys an OTM call and put. Both premiums are at risk if the subsequent move is too small. 2024 model: -5.98% return; 7.49% reported drawdown. Inspect the captured fills.
Open pageCall calendar spread: algorithm and completed backtest
A range rule buys a later-expiring call and sells a nearer-expiring call at the same target strike. Inspect different-expiration resolution and collateral. 2024 model: 0.00% return; 0.00% reported drawdown. No trades executed.
Open pageCall diagonal spread: algorithm and completed backtest
A bullish rule buys a later ATM call and sells a nearer higher-strike call. Different expirations change the payoff and early-assignment exposure. 2024 model: 0.00% return; 0.00% reported drawdown. No trades executed.
Open pageIron butterfly: algorithm and completed backtest
A range rule sells ATM call and put premiums with purchased wings. Inspect the actual center strike, both wing widths and all four close orders. 2024 model: -16.37% return; 16.72% reported drawdown. Inspect the captured fills.
Open pageLong call butterfly: algorithm and completed backtest
A range rule buys lower and upper calls and sells two center calls. The 1:2:1 ratio and resolved wing symmetry determine its expiration payoff. 2024 model: -48.28% return; 59.21% reported drawdown. Inspect the captured fills.
Open pageCovered call: algorithm and completed backtest
Buy 100 SPY shares when stock holdings are empty, then write one higher-strike call during a bullish trend. Retain the stock when the call closes; inspect stock coverage and dividends separately. 2024 model: 11.81% return; 4.71% reported drawdown. Inspect the captured fills.
Open pageCash-secured put: algorithm and completed backtest
A bullish trend rule writes one OTM put with sufficient starting cash for strike times multiplier. Inspect reserved collateral and buying power; received premium is not the risk budget. 2024 model: 0.57% return; 0.65% reported drawdown. Inspect the captured fills.
Open pageLearn the workflow
Create an options strategy
Turn an idea into complete, reviewable strategy rules.
Open pageBacktest an options strategy
Declare dates, capital, fees and detailed-event capture.
Open pageInspect an options backtest
Read signals, resolution audits, size decisions and fills.
Open pageObserved quotes and synthetic pricing
Separate observed bid and ask from modeled half-spreads and excluded observations.
Open pageChoose strikes and expiration
Use repeatable selectors and verify the actual chosen contracts.
Open pageSet position size and exits
Understand whole-contract budgets, liquidity bounds and matching spread exits.
Open pageExplore payoff and cost assumptions
These interactive calculators use hypothetical inputs. They calculate expiration payoff or cost sensitivity; they do not run a historical test.
Long call expiration payoff calculator
Change the strike, premium, expiration price, multiplier and position costs to calculate a purchased call's expiration P&L.
Open pageBull call spread expiration payoff calculator
Change both strikes, net debit and expiration price to calculate a matched call spread's expiration P&L, maximum loss and maximum gain.
Open pageOptions backtest cost sensitivity calculator
Estimate how commissions and assumed half-spread costs change P&L across repeated options entries and exits.
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