Test options strategies on NIFTY & BANKNIFTY
Backtest straddle, strangle, iron condor, and butterfly strategies on Indian index options. Full trade log with entry/exit prices, P&L per trade, win rate, and drawdown analysis.
Supports NIFTY, BANKNIFTY, FINNIFTY, and MIDCPNIFTY. Configurable entry time, SL/TP, and strike selection.
What a backtest result screen shows
The summary and the trade log for your own rules. Results are hypothetical: your rules applied to past data. They are not a prediction.
| Strategy | Period | Underlying | Legs | Trades | Win Rate | Net P&L | Max DD | Avg Win | Avg Loss |
|---|---|---|---|---|---|---|---|---|---|
| Your strategy | — | — | — | — | — | — | — | — | — |
| Date | Entry | Exit | Type | Entry Premium | Exit Premium | P&L | Exit Reason |
|---|---|---|---|---|---|---|---|
| — | — | — | — | — | — | — | — |
Illustration of the screen layout. Not a result.
Supported options strategy types
Multi-leg options strategies available for backtesting.
| Strategy | Legs | Risk | Reward | Best For | SL Method |
|---|---|---|---|---|---|
| Short Straddle | Sell ATM CE + Sell ATM PE | Unlimited | Premium collected | Range-bound markets, low volatility days | Basket SL (combined premium) |
| Short Strangle | Sell OTM CE + Sell OTM PE | Unlimited | Lower premium, wider breakeven | Range-bound with buffer zone | Per-leg or basket SL |
| Iron Condor | Bull put spread + Bear call spread | Defined (wing width - premium) | Net premium collected | Defined risk range-bound trades | Max loss = wing width - premium |
| Butterfly | Buy 1 + Sell 2 + Buy 1 (same type) | Defined (net debit) | Max at middle strike | Precise directional view | Max loss = net debit paid |
| Bull/Bear Spread | Buy 1 + Sell 1 (same type, diff strikes) | Defined | Defined | Directional with capped risk | Max loss = spread width - premium |
Supported underlyings
Indian index options available for backtesting.
NIFTY 50
BANKNIFTY
FINNIFTY
MIDCPNIFTY
Backtest configuration parameters
Every parameter you can configure for an options backtest.
| Parameter | Description | Example Values |
|---|---|---|
| Date Range | Start and end date for backtest period | 2025-10-01 to 2026-02-28 |
| Underlying | Index to trade options on | NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY |
| Strategy Type | Options strategy template | Straddle, Strangle, Iron Condor, Butterfly |
| Strike Selection | How strikes are chosen | ATM, 1SD OTM, fixed offset (e.g. 200 pts) |
| Entry Time | Time of day to enter the trade | 09:20, 09:30, 10:00 |
| Exit Time | Intraday square-off time | 15:15, 15:20, 15:25 |
| SL Mode | Stop loss type | Per-leg %, basket premium %, absolute Rs. |
| TP Mode | Take profit type | Per-leg %, basket premium %, absolute Rs. |
| Fill Model | How entry/exit prices are determined | Next Open, Next Close |
| Lots | Number of lots per leg | 1, 2, 5 |
Frequently asked questions
Can I backtest NIFTY weekly options strategies on Anadi Algo?
Yes. Anadi Algo supports backtesting on NIFTY, BANKNIFTY, FINNIFTY, and MIDCPNIFTY weekly options. You can test straddle, strangle, iron condor, butterfly, and spread strategies with configurable entry/exit times, strike selection, and stop loss modes. Results include full trade log, equity curve, win rate, and drawdown.
What data is used for options backtesting?
Options backtests use historical candle data for the underlying index to determine ATM strikes and compute entry/exit prices. Strike selection is based on the underlying price at entry time. Premium decay and movement are modeled using the fill model you select (Next Open or Next Close).
How accurate is options backtesting compared to live trading?
Backtesting uses historical data and fill models that approximate real execution. Actual slippage, bid-ask spreads, and liquidity may differ in live markets. We recommend paper trading any strategy that passes backtesting to validate execution before going live.
Can I set basket-level stop loss for multi-leg options strategies?
Yes. For multi-leg strategies (straddle, strangle, iron condor), you can set a basket-level SL based on total premium. For example, exit all legs when combined premium loss exceeds 20% of collected premium. Per-leg SL is also available.
Related features
Options Hedge Baskets
Build and manage multi-leg options positions. Per-leg roll/close, combined P&L, hedge control.
Options Hedge Baskets →Equity Backtesting
Backtest equity strategies on 5 years of NIFTY 500 candle data. Static or dynamic instrument selection.
Equity Backtesting →BANKNIFTY Strategy Builder
Build BANKNIFTY-specific strategies using AI Chat Wizard. Intraday and positional.
BANKNIFTY Strategy Builder →Backtest your options strategy before risking real capital
If it does not work in backtest, it will not work live. Test straddles, strangles, iron condors on historical data.