SPY / IWM Covered-Call / Short-Call Overlay Backtester

ORATS same-source strikes data. Choose SPY or IWM, then compare warehouse-priced backtest results with a Black-Scholes vol-parameter model using the same strike rows.

Note: max active contracts caps overlap; it does not multiply each trade. Daily option MTM uses ORATS marks when available, otherwise carries forward the previous mark. Dividends are currently not included; returns are SPY price-return only.

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