Bankex Iron Condoor Strategy Backtest

Bankex Iron Condoor Option Strategy Backtest | For monthly income executed by market makers and professionals to earn consistent money with limited risk.

Short Iron Condor Parameters
Sell OTM spreads on both sides for net credit
CALL Side (Bearish Spread)
ATM + offset
From short call
SELL closer OTM CALL | BUY further OTM CALL
PUT Side (Bullish Spread)
ATM - offset
From short put
SELL closer OTM PUT | BUY further OTM PUT
Understanding Iron Condor Metrics

Why Focus on Range, Break-Evens, and Risk/Reward?

Misleading Metrics (Wrong for Iron Condor):
• Looking only at max profit ignores wide risk
• Ignoring break-even zones hides exposure
• Price multiples don’t reflect credit received
• Focusing only on one side of the condor
Correct Metrics (Right for Iron Condor):
• Define both upper and lower break-even points
• Show max profit zone between short strikes
• Highlight risk vs. reward clearly
• Account for spread width minus credit
📋 Calculation Example:
Short Call Strike: 18500
Long Call Strike: 18600
Short Put Strike: 17500
Long Put Strike: 17400
Credit Received: 200
Upper BE = 18500 + 200 = 18700
Lower BE = 17500 - 200 = 17300
Max Profit Zone = Between 17500 and 18500
Risk = Spread Width (100) - Credit (200) → Net Risk 800
🎯 How to Use These Metrics:
  • Break-Even Awareness: Know both upper and lower limits
  • Profit Zone: Identify the range between short strikes
  • Risk Management: Compare credit vs. spread width
  • Trade Evaluation: Use return % to judge efficiency
Strategy: Short Iron Condor Position: Sell OTM Call Spread + Sell OTM Put Spread Money Flow: Net CREDIT at entry
Max Profit: Net Credit Received Max Loss: (Spread Width - Net Credit) Profit Zone: Between Break-Even Points Ideal Market: Low Volatility / Range-Bound
Iron Condor Structure
Sell Call
Buy Call
Sell Put
Buy Put
ATM
Long Put
Most OTM
Short Put
Closer to ATM
Short Call
Closer to ATM
Long Call
Most OTM
Profit Zone
← Further OTM
Closer to ATM →
Strikes: LP < SP < ATM < SC < LC
⚠️ Long Strangle Strategy
How it works:
  • Buy an OTM CALL option above ATM
  • Buy an OTM PUT option below ATM
  • Pay premium for both legs
  • Profit if stock moves out of the strikes
  • Risk: Limited to the premium paid
Total PnL

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Expectancy

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Max Profit

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Max Loss

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Win %

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Loss %

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Avg Win

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Avg Loss

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Max Win Streak

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Max Loss Streak

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Max Drawdown

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Recovery Days

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Yearly Monthly PnL
Year JanFebMarApr MayJunJulAug SepOctNovDec Total PnL Total Trades MDD
Yearly Weekday PnL
Year MonTueWed ThuFriSat PnL Trades

Trades
Symbol Spot Entry Spot Exit Spot Δ Entry Date Entry Day Exit Date Exit Day Expiry Strategy
Strikes SC/LC/SP/LP
SC Entry (Sell)
LC Entry (Buy)
SP Entry (Sell)
LP Entry (Buy)
Net Credit Entry
SC Exit (Buy)
LC Exit (Sell)
SP Exit (Buy)
LP Exit (Sell)
Net Debit Exit
Strategy High Max Value
Strategy Low Min Value
DTE
PnL Credit − Debit
Max Profit = Credit
Max Loss Width − Credit
Profit Zone Lower → Upper
Spread Width Call / Put
Risk Capital
Equity Cumulative
DD Drawdown

Calculators

PIVOT POINT CALC
POSITION SIZE CALC
CAGR CALC
TARGET CALC

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