Skyline 14 DTE vs. the best-tested iron condor.
A capital-, time-, and risk-aware comparison beginning May 1, 2025. All tested iron-condor exits are shown; the 80% profit-target version is used for the primary comparison because it produced the highest net P/L among the tested condor scenarios.
What CAR means: CAR (Capital at Risk) represents the maximum possible loss modeled for a position in this simulation. Estimated portfolio CAR is calculated as the modeled CAR per position multiplied by the average number of concurrent open positions. It is distinct from the opening debit and recorded capital committed.
Separate modeled risk from historical capital usage.
The Options Engineering OS snapshot compares one lot of each structure at 14 DTE. The CAR values are reasonably close, but not identical; the historical backtests remain reported at their actual tested configurations.
Skyline 14 DTE
Engineered debit structure- Daily 14 DTE deployment
- Systematic staged exits
- Proprietary Skyline configuration
25-point iron condor
Defined-risk credit benchmark- Daily 14 DTE deployment
- 80% target used as benchmark
- 75% stop-loss condition
How to read the CAR snapshot
At this 14 DTE pricing snapshot, modeled maximum loss was $995 for Skyline and $840 for the iron condor. Skyline therefore carried more CAR per individual deployment. Portfolio CAR also depends on how many trades are deployed at the same time.
Estimated average portfolio CAR: applying the average concurrent-position count to the snapshot CAR per trade, Skyline’s modeled portfolio CAR is approximately 19.7% lower.
Assumption: average concurrent positions × the one-lot modeled CAR shown in this OS snapshot (5.9 × $995; 8.7 × $840). This is an estimate based on a single pricing snapshot, not a daily historical CAR calculation, and it does not rescale the reported backtest P/L.
14 DTE modeled-risk snapshot generated in Options Engineering OS. Modeled peak profit is shown for payoff-shape context and is not a historical result.
Capital at risk is a modeled maximum-loss measure based on the pricing snapshot and structure assumptions. Live fills, volatility, brokerage treatment, and portfolio offsets can change realized risk and buying-power requirements.
More return with a shallower historical drawdown.
The charts below are calculated from the exported trade records and use the same $20,000 starting balance. They are presented at the configurations actually tested—not rescaled to the CAR snapshot above.
The comparison changes when deployment count and duration are included.
Skyline carried higher modeled CAR per individual trade in the OS snapshot, but fewer simultaneous deployments can produce lower portfolio CAR. Historical broker-recorded capital usage is shown separately because it is not the same measure as modeled CAR.
| Metric | Skyline 14 DTE | Iron condor · 80% target | What it means |
|---|---|---|---|
| Average opening premium magnitude | $3,437 debit | $1,080 credit magnitude | Different cash-flow direction; magnitudes are shown for funding context. |
| Average recorded capital requirement per trade | $3,437 | $1,169 | Average of the exported “Margin Req.” field; this is not labeled as CAR. |
| Average days in trade | 8.5 | 12.6 | Skyline recycled each position sooner. |
| Average concurrent positions | 5.9 | 8.7 | Daily overlap from open through close. |
| Estimated average portfolio CAR | $5,871 | $7,308 | Assumption: average concurrent positions × snapshot CAR per trade (5.9 × $995; 8.7 × $840). Skyline is approximately 19.7% lower on this basis. |
| Estimated average recorded capital in market | $20,450 | $10,353 | Direct daily average of the recorded capital requirement across all positions open that day. |
| Peak recorded capital in market | $40,350 | $17,040 | Highest daily sum of the exported capital-requirement field. |
| P/L per $1,000 recorded capital-day | $14.3 | $19.6 | The condor produced more P/L per unit of recorded capital-time. |
Where Skyline led
Higher net P/L, higher win rate, shorter average holding time, shallower drawdown, and positive results in every measured month and quarter.
Where the condor remained stronger
Lower average capital requirement, lower average capital tied up, and higher P/L per $1,000 of recorded capital-day.
All tested exits remain visible.
The 80% profit-target version produced the strongest iron-condor P/L and is therefore used as the primary benchmark. The other tested exits show how sensitive the result was to management rules.
| Condor exit configuration | Net P/L | Ending capital | Win rate | Max drawdown | Avg. days |
|---|---|---|---|---|---|
| 80% PT / 75% SL · primary benchmark | $86,693 | $106,693 | 68.7% | -36.5% | 12.6 |
| 80% PT / 75% SL, then 50% PT / 50% SL | $62,476 | $82,476 | 57.4% | -37.5% | 12.2 |
| 80/50/30% staged profit and stop sequence | $32,678 | $52,678 | 54.2% | -36.8% | 9.7 |
Exit labels summarize the tested rule sets shown in the source configurations. The primary comparison uses the highest-P/L condor result; it was selected after reviewing the tested alternatives and should not be interpreted as an out-of-sample optimized parameter.
Backtest result snapshots.
These result panels provide source-platform context for the reported tests. Skyline configuration fields and strike details are excluded; the study charts above are calculated from the exported trade records.
Skyline 14 DTE
Result metrics and equity path only. Strategy construction is not shown.
Iron condor · 80% target
Highest-P/L tested condor configuration and primary benchmark.
Iron condor · two-stage exit
Secondary exit-sensitivity result.
Iron condor · staged exit
Secondary exit-sensitivity result.
Option Omega is identified as the source platform for these historical backtest records. Option Omega has not independently audited, endorsed, or verified this research comparison.
How to read the study.
Shared market window
SPX entries began May 1, 2025 at 10:45 a.m. ET using exact 14 DTE selection. Skyline records extend through July 22, 2026; the benchmark’s last completed trades close in early July 2026.
Costs included
Opening fees of $0.25 and entry/exit slippage of $0.05 were specified in the test configurations. Results use the exported P/L records.
Capital convention
Historical capital estimates use the exported “Margin Req.” field. For each calendar day, the requirements of all positions open that day are summed; those daily totals are then averaged. This is separate from the single-date OS CAR snapshot and may differ from broker buying power or live portfolio offsets.