Automatically Exit Your Option Trades Before Expiration

Automations can use a decision recipe to automatically exit an options position a defined number of days before expiration if no exit criteria have been met.
Kirk Du Plessis
Jun 10, 2021

Options expiration can be a scary time for options traders. Most investors will do anything to avoid the assignment process, but it can be challenging to manage multiple positions and keep track of different expiration dates. With monitor automations, you can offload the management process onto a bot and avoid the troublesome task of actively tracking your portfolio’s positions.

Investors typically have exit criteria based on profit targets or stop losses. With options, you may also want to build an additional calendar filter into your strategy. Specifically, this video example shows how you can add a decision recipe to automatically close your position if the profit or stop-loss order has not been triggered before the contract’s expiration date. 

Automation editor with expiration decision recipe highlighted

This useful decision recipe can be included in any monitor automation that manages options positions. It is an excellent filter to have at the end of an automation as a final safeguard. Now you no longer need to worry about holding a position too close to expiration. 

Completed automation with expiration filter in place to close position

This video is another great example of how bot automations alleviate the stress of managing multiple positions manually, so you can spend more of your time searching for new trade ideas and backtesting strategies.

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