Maximum Exit Option Attempts Setting for Retail Options Traders

Inside your settings, you can now set a maximum Exit Options close attempts per day. This enables you to limit the number of times a bot will attempt to close a position in a single trading day. 

While this may be an issue for the majority of options traders, the setting is in place to help you avoid hitting the 390 rule. If you have a lot of bots sending many orders per day, this setting is a great way to control the number of orders sent to your broker. 

The default setting is ‘Unlimited.’ If you want to limit the max attempts to close a position using Exit Options, you can choose a number from the drop down menu. The max attempts value is per position.

For example, you can tell your bot to send up to 10 orders to close a position if any of its Exit Option criteria are met. If the position is not closed in those 10 attempts. It will no longer send orders to your broker, even if your exit criteria trigger.