{"id":253372,"date":"2026-08-12T09:58:24","date_gmt":"2026-08-12T13:58:24","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?post_type=trading-course&#038;p=253372"},"modified":"2026-09-10T10:35:57","modified_gmt":"2026-09-10T14:35:57","slug":"options-strategy-research-and-backtesting-with-orats","status":"publish","type":"trading-course","link":"https:\/\/www.interactivebrokers.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/","title":{"rendered":"Options Strategy Research &amp; Backtesting with ORATS"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"<p>Learn how to research and backtest options strategies \u2013 like covered calls, credit spreads and iron condors \u2013 using historical data instead of guesswork. This course covers key performance metrics, including return, win rate and drawdown, and shows how factors like strike selection, expiration cycles and market volatility impact strategy outcomes. You&#8217;ll also get a hands-on introduction to the ORATS Backtester in TWS, giving you a practical framework for researching strategies before risking capital.<\/p>\n","protected":false},"featured_media":253619,"parent":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"contributors-categories":[13576,17522],"traders-academy":[13119,13129,13132],"class_list":["post-253372","trading-course","type-trading-course","status-publish","has-post-thumbnail","contributors-categories-interactive-brokers","contributors-categories-orats","traders-academy-options","traders-academy-finance-courses","traders-academy-trading-lesson"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Archives | Traders&#039; Academy | IBKR Campus<\/title>\n<meta name=\"description\" content=\"Learn how to research and backtest options strategies using the ORATS Backtester in TWS. Compare performance, analyze key metrics and trade smarter.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-course\/253372\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Options Strategy Research &amp; Backtesting with ORATS | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Learn how to research and backtest options strategies using the ORATS Backtester in TWS. Compare performance, analyze key metrics and trade smarter.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-10T14:35:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/08\/12-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/\",\n\t            \"name\": \"Options Strategy Research &amp; Backtesting with ORATS | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/08\\\/12-1.png\",\n\t            \"datePublished\": \"2026-08-12T13:58:24+00:00\",\n\t            \"dateModified\": \"2026-09-10T14:35:57+00:00\",\n\t            \"description\": \"Learn how to research and backtest options strategies using the ORATS Backtester in TWS. Compare performance, analyze key metrics and trade smarter.\",\n\t            \"breadcrumb\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/#breadcrumb\"\n\t            },\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/08\\\/12-1.png\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/08\\\/12-1.png\",\n\t            \"width\": 1280,\n\t            \"height\": 720\n\t        },\n\t        {\n\t            \"@type\": \"BreadcrumbList\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/options-strategy-research-and-backtesting-with-orats\\\/#breadcrumb\",\n\t            \"itemListElement\": [\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 1,\n\t                    \"name\": \"Academy Courses\",\n\t                    \"item\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-course\\\/\"\n\t                },\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 2,\n\t                    \"name\": \"Options Strategy Research &amp; Backtesting with ORATS\"\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Archives | Traders' Academy | IBKR Campus","description":"Learn how to research and backtest options strategies using the ORATS Backtester in TWS. Compare performance, analyze key metrics and trade smarter.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-course\/253372\/","og_locale":"en_US","og_type":"article","og_title":"Options Strategy Research &amp; Backtesting with ORATS | IBKR Campus US","og_description":"Learn how to research and backtest options strategies using the ORATS Backtester in TWS. Compare performance, analyze key metrics and trade smarter.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/","og_site_name":"IBKR Campus US","article_modified_time":"2026-09-10T14:35:57+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/08\/12-1.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/","url":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/","name":"Options Strategy Research &amp; Backtesting with ORATS | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/08\/12-1.png","datePublished":"2026-08-12T13:58:24+00:00","dateModified":"2026-09-10T14:35:57+00:00","description":"Learn how to research and backtest options strategies using the ORATS Backtester in TWS. Compare performance, analyze key metrics and trade smarter.","breadcrumb":{"@id":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/08\/12-1.png","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/08\/12-1.png","width":1280,"height":720},{"@type":"BreadcrumbList","@id":"https:\/\/ibkrcampus.com\/campus\/trading-course\/options-strategy-research-and-backtesting-with-orats\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Academy Courses","item":"https:\/\/ibkrcampus.com\/campus\/trading-course\/"},{"@type":"ListItem","position":2,"name":"Options Strategy Research &amp; Backtesting with ORATS"}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"}]}},"_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-course\/253372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-course"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/trading-course"}],"version-history":[{"count":2,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-course\/253372\/revisions"}],"predecessor-version":[{"id":253666,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-course\/253372\/revisions\/253666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/253619"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=253372"}],"wp:term":[{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=253372"},{"taxonomy":"traders-academy","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/traders-academy?post=253372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}