Sell 1 lower call, buy 2 higher calls.
| Symbol | Return % | Sharpe | Max DD % | Win % | Avg/trade % | Trades |
|---|---|---|---|---|---|---|
| SPY | -993.6% | -0.29 | +947.0% | +26.3% | -52.3% | 19 |
| QQQ | +320.4% | 0.05 | +610.5% | +47.4% | +16.9% | 19 |
| IWM | +1011.2% | 0.26 | +418.3% | +68.4% | +53.2% | 19 |
| DIA | -2820.8% | -0.87 | +2504.6% | +26.3% | -148.5% | 19 |
| Avg | -620.7% | -0.21 | +1120.1% | +42.1% | — | 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)