0 backtested trades | Real option prices| Dec 17, 2025Mar 13, 2026

Our scoring finds the move 0% of the time.

Hold to expiry? Only 0% make money.

With the right exit plan? 0% win rate, +0.0% avg P&L.

0.0%
Found Move
0 trades
0.0%
Held to Expiry
0 expired
0.0%
With Exit Plan
+0.0% avg
+0%
Median Peak
0d
Days to Peak

Higher conviction = better results. Long Calls at fit 9+ achieve 61% win rate, PF 6.28. Each strategy has an optimal fit range — validated out-of-sample with walk-forward testing.

See the proof

Based on 12 weeks of data during a volatile market period. Past results do not guarantee future performance.

For educational and informational purposes only. Not financial advice.

The Right Exit for Each Strategy

Different strategies need different exit management. Here's what our backtest of 4,622+ trades per strategy reveals.

Bull Call Spread

Debit
+29.4%
avg improvement
Hold to Expiry
Win rate35%
Avg P&L-13.9%
PF0.76
Exit at +30%
Win rate70%
Avg P&L+15.4%
PF1.56

Take +5% profits within 7 days. The spread has capped gains — grab it before theta eats it. Out-of-sample PF 1.25.

4,622 trades | Avg hold: 8d

Calendar Spread

Debit
+19.1%
avg improvement
Hold to Expiry
Win rate40%
Avg P&L-7.8%
PF0.78
Exit at +30%
Win rate67%
Avg P&L+11.4%
PF1.59
178 trades | Avg hold: 14d

Bear Put Spread

Debit
+14.8%
avg improvement
Hold to Expiry
Win rate44%
Avg P&L+13.0%
PF1.27
Exit at +100%
Win rate54%
Avg P&L+27.8%
PF1.71

Take +5% within 5 days. Quick capture validated out-of-sample with PF 3.1.

1,061 trades | Avg hold: 11d

Iron Condor

Credit
+12.7%
avg improvement
Hold to Expiry
Win rate56%
Avg P&L+10.4%
PF1.35
Credit: 50% capture
Win rate70%
Avg P&L+23.1%
PF2.10

Close at 25% of premium captured. Time decay works in your favor. Out-of-sample PF 10.8.

232 trades | Avg hold: 20d

Long Strangle

Debit
+9.4%
avg improvement
Hold to Expiry
Win rate38%
Avg P&L+3.9%
PF1.08
Exit at +10%
Win rate81%
Avg P&L+13.3%
PF1.84

Quick +8% capture within 5 days. Volatility spikes are brief — grab the burst.

270 trades | Avg hold: 8d

Wheel Strategy

Credit
+3.2%
avg improvement
Hold to Expiry
Win rate42%
Avg P&L-6.7%
PF0.55
Credit: 50% + 7d floor
Win rate44%
Avg P&L-3.4%
PF0.63

Full cycle: sell puts → if assigned, sell calls. 69% expire worthless (pure premium). Per-put PF <1 at all fit levels — value is in the cycle, not individual trades.

6,388 trades | Avg hold: 8d

Covered Call

Credit
+3.0%
avg improvement
Hold to Expiry
Win rate53%
Avg P&L-0.8%
PF0.87
Credit: 50% + 7d floor
Win rate63%
Avg P&L+2.2%
PF1.83

Close at 20% of premium + exit 7 days before expiry. Collect and move on.

487 trades | Avg hold: 7d

Long Straddle

Debit
+2.3%
avg improvement
Hold to Expiry
Win rate46%
Avg P&L+7.3%
PF1.25
Exit at +50%
Win rate56%
Avg P&L+9.7%
PF1.40

Take +5% at first opportunity. Straddles profit from any large swing.

1,276 trades | Avg hold: 15d

Cash-Secured Put

Credit
Hold to Expiry
Win rate70%
Avg P&L+19.7%
PF1.49
Best: Hold
Win rate70%
Avg P&L+19.7%
PF1.49

Close at 60% of premium captured. Higher fit scores (7+) significantly improve results.

849 trades | Avg hold: 12d

Long Puts

Debit
Hold to Expiry
Win rate36%
Avg P&L+37.1%
PF1.67
Best: Hold
Win rate48%
Avg P&L+27.7%
PF1.60

Hold to expiry — tail events are the whole point. Best at fit 7-8 (39% win, PF 1.95). No exit rule improves on holding.

966 trades | Avg hold: 10d

Long Calls

Debit
Hold to Expiry
Win rate42%
Avg P&L+74.7%
PF2.53
Best: Hold
Win rate58%
Avg P&L+47.9%
PF2.33

Exit after 14 days max. Strongly fit-dependent: fit 9+ → 61% win, PF 6.28. Fit 7-8 → 36% win. Quality over quantity.

1,387 trades | Avg hold: 10d

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Entry Quality: Fit Score Matters

The scoring system IS predictive — but only at high conviction. Walk-forward validated (train Dec-Feb, test Feb-Apr).

StrategyFit RangeWin RateAvg P&LPFTrades
Long Calls9+61%+116%6.28279
Long Calls8-947%+61%2.791,048
Long Calls7-836%+34%1.732,792
Long Puts7-839%+50%1.95716
Long Puts8+28%+12%1.18205
Cash-Secured Put7-8+31%2.08437

Higher fit score = scoring system has more conviction. PF = Profit Factor (gross wins / gross losses). PF > 1.5 indicates strong edge. Green rows show the optimal fit range per strategy.

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What if you had an exit plan?

We ran every trade through simple profit-taking and stop-loss rules. Here's how exit timing changes results.

Exit RuleWin RateAvg P&LMedian P&LProfit FactorAvg Daysvs Baseline
Hold to ExpiryBASELINE41.7%+4.2%-9.7%1.1215d
Exit at +10%69.4%+7.7%+13.5%1.497d+3.5%
Exit at +20%63.3%+7.8%+21.1%1.419d+3.6%
Exit at +30%59.7%+8.2%+14.0%1.3810d+4.0%
Exit at +50%BEST54.4%+8.5%+4.9%1.3311d+4.3%
Exit at +100%47.7%+8.1%-2.4%1.2613d+3.9%
+20% / -30% stop51.1%+1.8%+1.4%1.106d-2.4%
+20% / -30% / 10d51.0%+2.2%+1.0%1.135d-2.0%
+20% / -50% / 10d55.4%+3.8%+5.3%1.215d-0.4%
DTE-scaled aggressive58.0%+6.6%+15.9%1.333d+2.4%
DTE-scaled moderate57.4%+6.6%+16.8%1.323d+2.4%
DTE-scaled conservative60.3%+8.0%+21.9%1.364d+3.8%
Credit: 50% capture47.2%-2.4%-1.5%0.8613d-6.6%
Credit: 50% + 7d floor48.0%-1.9%-0.5%0.828d-6.1%
Credit: 65% capture46.4%-2.5%-1.9%0.8514d-6.7%
Credit: 65% + 10d floor45.3%-3.3%-1.1%0.696d-7.5%
Credit: 25% capture50.1%-2.3%+0.1%0.8512d-6.5%
Trail 15% from peak42.4%-1.8%-4.4%0.919d-6.0%
Trail 20% from peak42.9%-1.9%-4.5%0.9110d-6.1%
Trail 30% from peak41.9%-2.8%-6.0%0.8911d-7.0%

The signal works. The edge is in the exit.

Simulated on 17,716 expired trades with real option prices. Past results do not guarantee future performance.

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For educational purposes only. Not investment advice.