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BUSTED BY COSTS

BANKNIFTY monthly iron fly with profit lock

Option selling · BANKNIFTY monthly · tested 2017-02 to 2026-10

The claim

About ₹2.05 lakh over Jan-2024 to Nov-2025 with a max drawdown near ₹27k.

Our test, after costs

₹24,512

2017-02 to 2026-10 · 1 lot (lot size of the day)

As taught, the rules made about ₹24.5k from Feb-2017 to Oct-2026, with a ₹1.31 lakh drawdown and a ₹78k loss in 2026.

37WEAK

Algrow Reality Score

8/40
claim
11/30
profit
18/30
steady
Net, full test
₹24,512
Worst drawdown
−₹1.31 L
Trades
109
Win rate
—

Size: 1 lot (lot size of the day).

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How our test compares with the video

In the video's own window 20 of 23 months matched within a few hundred rupees, but our total was ₹1.01 lakh versus ₹2.05 lakh; the gap comes from three months (election day Jun-2024, the Apr-2025 gap open, and a near-touch stop in Sep-2025).

Worth knowing: The video's window covered the two strongest years of the decade. Yearly figures rounded to the nearest ₹1k.

Year by year

1 lot, rules as taught, after costs.

The rules we tested

Fifteen trading days before monthly expiry at 09:35, sell the ~0.50-delta call and put and buy wings priced near ₹25. Overall stop at 50% of net credit, profit lock of ₹9k once profit reaches ₹15k, and exit two trading days before expiry at 10:00. Assumptions: ATM chosen as the strike with the smallest call–put price gap; wing price read from the video's sheet.

Method and Reality Score

Full method: how we test

1-minute data, signals on bar close filled at the next minute's open, stops through a gap filled at the open, real broker charges incl. STT and taxes.

  • 1-minute historical NSE/BSE option and futures data; each video's rules coded exactly as taught, with stated assumptions where the video left a gap.
  • Signals on a candle's close are filled at the next minute's open (unless the rules say otherwise); stops and targets are checked against each minute's high and low.
  • Real broker charges, STT, exchange fees, stamp duty and GST deducted on every order; lot size as it was on each trade date.
  • Results are per lot unless stated. No leverage, compounding or position sizing beyond the video's own rules.

Reality Score (0–100) = claim match (up to 40: matches 40, partly 25, fails after costs 8, not reproduced 0) + after-cost profit (up to 30: zero if it loses; more when total profit is large versus the worst drawdown) + steadiness (up to 30: share of profitable years, plus 5 if the latest year made money).

Questions people ask

Does the BANKNIFTY monthly iron fly with profit lock strategy work?

Not as taught, once real charges are included. As taught, the rules made about ₹24.5k from Feb-2017 to Oct-2026, with a ₹1.31 lakh drawdown and a ₹78k loss in 2026. Tested on BANKNIFTY monthly, 2017-02 to 2026-10, after real costs. Reality Score 37/100.

What is the win rate of the BANKNIFTY monthly iron fly with profit lock strategy after costs?

We did not count a per-trade win rate for this one; the net result after real charges was ₹24,512 with a worst drawdown of −₹1.31 L.

How much did it make or lose in the backtest?

Our test: ₹24,512 after real costs. Over 2017-02 to 2026-10 (1 lot (lot size of the day)), the net after charges was ₹24,512 and the worst fall from a peak was −₹1.31 L.

What exact rules were tested?

Fifteen trading days before monthly expiry at 09:35, sell the ~0.50-delta call and put and buy wings priced near ₹25. Overall stop at 50% of net credit, profit lock of ₹9k once profit reaches ₹15k, and exit two trading days before expiry at 10:00. Assumptions: ATM chosen as the strike with the smallest call–put price gap; wing price read from the video's sheet.

How was the BANKNIFTY monthly iron fly with profit lock backtest done?

On 1-minute exchange data since 2017, signals filled at the next minute's open, with real broker charges, STT, exchange fees, SEBI fee, stamp duty and GST, and the lot size of each date. Rules exactly as taught; gaps we had to fill are stated. Full method on our How we test page.

Run it yourself — coming soon

These rules use features our public backtester can't express exactly yet, so we won't pre-fill an approximation. Build your own idea in the meantime.

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