QQQ/Nasdaq Long Volatility Reverse Iron Condor - 2026-06-05
This is an exploratory long-volatility setup, not an order ticket. The selected QQQ 2026-06-12 reverse iron condor profits only if QQQ breaks below the lower breakeven or above the upper breakeven by expiration.
QQQ spot
$706.37
yfinance latest 2026-06-05
Daily range
3.87%
high-low divided by latest close
Debit
$652
1-lot mid debit estimate
Max profit
$1448
if either spread finishes fully ITM
BE low
$682.48
expiration breakeven
BE high
$730.52
expiration breakeven
Proxy trades
92
historical simplified model
Proxy total PnL
$-1446
1-lot theoretical proxy
Expiration P&L curve
Proxy backtest equity
Trade details
| field | value | note |
|---|---|---|
| structure | Buy 689.0P / Sell 668.0P / Buy 724.0C / Sell 745.0C | QQQ 2026-06-12 reverse iron condor |
| max_loss | $652.50 | debit paid |
| max_profit | $1447.50 | defined-risk spread max |
| backtest_sharpe | -0.35 | trade-level return-on-debit proxy |
| backtest_win_rate | 40.2% | proxy model |
| worst_trade | $-788.34 | proxy model |
| best_trade | $1105.20 | proxy model |
Raw data
{
"title": "QQQ/Nasdaq Long Volatility Reverse Iron Condor - 2026-06-05",
"tldr": "This is an exploratory long-volatility setup, not an order ticket. The selected QQQ 2026-06-12 reverse iron condor profits only if QQQ breaks below the lower breakeven or above the upper breakeven by expiration.",
"kpis": [
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"hint": "expiration breakeven"
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{
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{
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"table": {
"columns": [
"field",
"value",
"note"
],
"rows": [
[
"structure",
"Buy 689.0P / Sell 668.0P / Buy 724.0C / Sell 745.0C",
"QQQ 2026-06-12 reverse iron condor"
],
[
"max_loss",
"$652.50",
"debit paid"
],
[
"max_profit",
"$1447.50",
"defined-risk spread max"
],
[
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"trade-level return-on-debit proxy"
],
[
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"40.2%",
"proxy model"
],
[
"worst_trade",
"$-788.34",
"proxy model"
],
[
"best_trade",
"$1105.20",
"proxy model"
]
]
},
"metadata": {
"setup": {
"asof_utc": "2026-06-05T19:43:11.417658+00:00",
"spot": 706.3699951171875,
"expiration": "2026-06-12",
"last_day_open": 729.926025390625,
"last_day_high": 731.6799926757812,
"last_day_low": 704.3200073242188,
"last_day_close": 706.3699951171875,
"daily_range_pct": 0.03873322131558469,
"legs": {
"buy_put": {
"strike": 689.0,
"mid": 5.7,
"bid": 5.66,
"ask": 5.74,
"iv": 0.30585410949707037
},
"sell_put": {
"strike": 668.0,
"mid": 2.59,
"bid": 2.57,
"ask": 2.61,
"iv": 0.35333898620605464
},
"buy_call": {
"strike": 724.0,
"mid": 3.955,
"bid": 3.92,
"ask": 3.99,
"iv": 0.2486647399902344
},
"sell_call": {
"strike": 745.0,
"mid": 0.54,
"bid": 0.52,
"ask": 0.56,
"iv": 0.22412885253906245
}
},
"debit": 6.525,
"max_loss": 652.5,
"max_profit": 1447.5,
"breakeven_low": 682.475,
"breakeven_high": 730.525
},
"backtest_stats": {
"trades": 92,
"date_start": "2021-09-28",
"date_end": "2026-04-15",
"total_pnl": -1446.1973183673874,
"avg_pnl": -15.719536069210733,
"win_rate": 0.40217391304347827,
"avg_return_on_debit": -0.056949665453536635,
"trade_sharpe": -0.35251890500386585,
"worst_trade": -788.3379062024985,
"best_trade": 1105.2048039129177,
"max_drawdown": -4627.135773052083
},
"method": "Proxy backtest: enter after |1d return| >= 2.5%, 5 trading-day hold, strikes at approx +/-2.5% and +/-5.5%, Black-Scholes entry debit using realized-vol proxy. Not historical option quote replay."
}
}