Option Book Builder: 830 Short-Premium Strategies With Daily P&L

The Option Book Builder is the working tool behind our multi-strategy option-selling research. It holds 830 short-premium strategies on 11 symbols (SPY, QQQ, IWM, GLD, TLT, XLF, XLK, EEM, AAPL, NVDA and TSLA), each with daily mark-to-market P&L from January 2018 to October 2026 at three fill assumptions.

Pick any set of strategies. The builder weights each one to equal volatility, sizes the book to your account and target volatility, and shows the equity curve, daily P&L, drawdown, year-by-year results and Sharpe ratio measured three ways.

Why daily P&L matters

Short-premium books lose money in sharp bursts that often recover within weeks. A monthly Sharpe ratio can hide those bursts when a crash and its recovery land in the same calendar month. On one widely traded book in this set, the calendar-month Sharpe for 2022 to 2026 ranges from 0.96 to 2.34 depending only on which day the months start. Daily marks show the drawdown you would have lived through.

What Enterprise members get

• The interactive builder: 830 strategies, mid, halfway and bid/ask fills, presets for the books we studied, an optimizer that picks a book on 2018-21 data only or re-picks it every year, a margin estimate with a cap, and a sortable strategy table.
• The full method: how each strategy was chosen, how positions are marked, how books are sized, and which results are out of sample.
• Daily P&L files for every strategy at every fill, in CSV, for your own review.
• The scripts that rebuild every number from the FlashAlpha Historical API.

This is research, not investment advice. Results are hypothetical, before taxes, and most are in-sample; past results do not predict future ones.