{"slug":"put-credit-spread-win-rate-and-breakeven","qid":"worst_entries","label":"worst_entries","post_title":"put-credit-spread-win-rate-and-breakeven","post_url":"/blog/lang/de/put-credit-spread-win-rate-and-breakeven#q-worst_entries","columns":["label","premium_usd","result_usd"],"rows":[{"label":"18.02.2026","premium_usd":141,"result_usd":-959},{"label":"10.02.2025","premium_usd":189,"result_usd":-911},{"label":"30.08.2022","premium_usd":223,"result_usd":-877},{"label":"31.12.2021","premium_usd":140,"result_usd":-860},{"label":"20.02.2025","premium_usd":149,"result_usd":-851},{"label":"28.12.2021","premium_usd":150,"result_usd":-850},{"label":"27.12.2021","premium_usd":152,"result_usd":-848},{"label":"30.01.2026","premium_usd":152,"result_usd":-848},{"label":"03.01.2022","premium_usd":156,"result_usd":-844},{"label":"12.09.2023","premium_usd":156,"result_usd":-844},{"label":"07.04.2022","premium_usd":157,"result_usd":-843},{"label":"13.09.2023","premium_usd":157,"result_usd":-843}],"shape":"ranking","sql":"WITH\nexpiries AS\n(\n    SELECT\n        date                                              AS entry_date,\n        argMin(expiration_date, abs(days_to_expiry - 45)) AS expiry\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol = 'SPY'\n      AND lower(option_type) IN ('put', 'p')\n      AND iv_converged = 1\n      AND volume > 0\n      AND days_to_expiry BETWEEN 38 AND 52\n      AND date >= '2021-08-01'\n    GROUP BY date\n),\nshort_leg AS\n(\n    SELECT\n        e.entry_date                                                AS entry_date,\n        e.expiry                                                    AS expiry,\n        argMin(toFloat64(g.strike_price), abs(abs(g.delta) - 0.30)) AS short_strike,\n        argMin(toFloat64(g.option_close), abs(abs(g.delta) - 0.30)) AS short_mark\n    FROM global_markets.options_greeks AS g\n    INNER JOIN expiries AS e\n        ON g.date = e.entry_date AND g.expiration_date = e.expiry\n    WHERE g.underlying_symbol = 'SPY'\n      AND lower(g.option_type) IN ('put', 'p')\n      AND g.iv_converged = 1\n      AND g.volume > 0\n      AND g.date >= '2021-08-01'\n      AND abs(g.delta) BETWEEN 0.20 AND 0.40\n    GROUP BY e.entry_date, e.expiry\n),\nlong_leg AS\n(\n    SELECT\n        s.entry_date                                                                             AS entry_date,\n        argMin(toFloat64(g.strike_price), abs(toFloat64(g.strike_price) - (s.short_strike - 10))) AS long_strike,\n        argMin(toFloat64(g.option_close), abs(toFloat64(g.strike_price) - (s.short_strike - 10))) AS long_mark\n    FROM global_markets.options_greeks AS g\n    INNER JOIN short_leg AS s\n        ON g.date = s.entry_date AND g.expiration_date = s.expiry\n    WHERE g.underlying_symbol = 'SPY'\n      AND lower(g.option_type) IN ('put', 'p')\n      AND g.iv_converged = 1\n      AND g.date >= '2021-08-01'\n      AND toFloat64(g.strike_price) BETWEEN s.short_strike - 12 AND s.short_strike - 8\n    GROUP BY s.entry_date\n),\nsettled AS\n(\n    SELECT\n        s.entry_date                   AS entry_date,\n        s.short_strike                 AS short_strike,\n        s.short_strike - l.long_strike AS width,\n        s.short_mark - l.long_mark     AS credit,\n        toFloat64(d.close)             AS settle_close\n    FROM short_leg AS s\n    INNER JOIN long_leg AS l ON s.entry_date = l.entry_date\n    INNER JOIN\n    (\n        SELECT date, close\n        FROM global_markets.stocks_daily_aggs\n        WHERE ticker = 'SPY'\n          AND date >= '2021-08-01'\n    ) AS d ON d.date = s.expiry\n    WHERE l.long_strike < s.short_strike\n      AND s.short_mark > l.long_mark\n      AND s.short_strike - l.long_strike BETWEEN 9 AND 11\n)\nSELECT\n    formatDateTime(entry_date, '%d.%m.%Y')                                            AS label,\n    round(100 * credit, 0)                                                            AS premium_usd,\n    round(100 * (credit - least(greatest(short_strike - settle_close, 0), width)), 0) AS result_usd\nFROM settled\nORDER BY result_usd ASC, label ASC\nLIMIT 12","computed_at":"2026-10-01T15:49:13.874865+00:00","elapsed":0.007428801}