Sell 1 lower call, buy 2 higher calls.
| Symbol | Return % | Sharpe | Max DD % | Win % | Avg/trade % | Trades |
|---|---|---|---|---|---|---|
| SPY | -4532.6% | -1.43 | +4368.5% | +5.3% | -238.6% | 19 |
| QQQ | -2494.2% | -1.20 | +2394.2% | +10.5% | -131.3% | 19 |
| IWM | -2967.9% | -1.32 | +2718.5% | +10.5% | -156.2% | 19 |
| DIA | -19776.3% | -1.29 | +17853.5% | +5.3% | -1040.9% | 19 |
| Avg | -7442.8% | -1.31 | +6833.7% | +7.9% | — | 19 |
| Parameter | Default | Description |
|---|---|---|
| ratio | 1x2 | Short/long call ratio |
Backspreads are convex bullish-volatility trades with strong upside participation beyond upper strike.
# -C(K1) + 2C(K2)