Embodiments are directed to a method of optimizing input/output (I/O) operations to a storage device having mixed read and write operations by determining a current queue state for the read and write operations with respect to defined optimum values of I/O operations per second (IOPS) and latency for the I/O operations, determining device characteristics of the storage device by determining read/write response times, queue depths and dispatch time intervals for an initial read/write operation, and modifying at least one of a wait time or batch size for subsequent read/write operations to meet the defined optimum values of IOPS and latency.