$300-$30,000 Options Challenge: The new chapter: Im Building an OA Portfolio

Date: 2026-08-17 13:00:11

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Check out the backtest for the Full small account portfolio here:
https://app.optionalpha.com/backtests/compare/ZT5178622018950861815,ZT31786220605004738418,ZT5178622107575812320,ZT31786221125299258425,ZT31786221224239396426?crules=%7B%22posLimit%22%3A10%2C%22posLimitDay%22%3A10%2C%22rules%22%3A%5B%5D%7D&combine=1&saved=BT3178622189155429813

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In this episode of the $300 to $30,000 Options Challenge, I’m moving into the next phase.

For the last few weeks, I’ve been testing automated trading mostly through QQQ iron condors. QQQ helped me learn the process—create a plan, backtest it, automate it, and collect live data.

But the truth is: QQQ hasn’t been consistent enough for what I’m trying to build.

So I’m shifting the approach.

Instead of overfitting one strategy until it looks perfect, I’m using the new OA Portfolio feature to build a $500 small-account automated portfolio with multiple strategies that can work together across different market environments.

What I’m building (starting portfolio)
* XSP 0DTE Iron Condor (small-account friendly, same-day rules)
* ~25-delta shorts, $2 wings, 1:45 p.m. entry
* Filters: VIX below 22, ADX above 12, skip end-of-month
* SPY 1DTE strategy (next-day timing profile to diversify the system)

The long-term target (5-strategy OA Portfolio roadmap)
The full portfolio backtest combines 5 strategies:
* XSP 1DTE Iron Condor
* SPY Iron Butterfly
* XSP 0DTE Iron Condor
* SPY 0DTE Iron Condor
* SPY Short Call Spread
Combined backtest stats:
* Total P/L: +$27,120
* Max drawdown: -$1,332
* Max risk: -$252
* Profit factor: 1.62

This isn’t what I’m turning on all at once right now—it’s the destination I want to grow into responsibly as the account and data support it.

Not financial advice. Options involve risk. I’m documenting my process, not telling you what to trade.

Chapters
0:00 QQQ helped me learn the process… but it hasn’t been consistent
0:22 QQQ was the test. Portfolio is the next step
1:26 Shifting focus: QQQ → SPY/SPX (and XSP for small accounts)
1:50 Introducing the $500 small-account OA Portfolio
2:16 Why OA Portfolio matters (combined system view)
2:41 Top Backtests: discovery, not copy/paste
3:32 Strategy #1: XSP 0DTE (rules + filters)
4:12 Strategy #2: SPY 1DTE (diversify timing + logic)
4:43 The long-term target: full 5-strategy OA Portfolio
5:19 Full portfolio backtest stats (+$27K / drawdown / profit factor)
5:47 Why portfolios beat overfitting one strategy
6:39 Small account risk reality (drawdowns must be survivable)
7:16 What this new phase means (framework progression)
7:46 Close: building a system that can survive

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This video is for educational purposes only and is not a recommendation for buying/selling any security. Options trading is risky, so please read our full risk disclosure here: https://optionalpha.com/legal/risk-disclosure-agreement