What’s New in Option Alpha: January 2024

Hello Option Alpha family,

A new major release of Option Alpha officially went live last weekend. As always, thank you to everyone in the community who took the time to contribute ideas, passion, and creativity to the process. The things built and developed come directly from discussions in this community. We love your passion for trading and can't wait for a huge 2024 for everyone here!

⭐️ Bot Supercharging is here

We’ve mentioned having faster automations for a long time, and it's now a reality. Bot Supercharging gives you the power to run continuous* automation intervals (as fast as 1 minute) while also boosting the maximum symbols per bot to 25 and positions per bot to 25! That's a lot of power wrapped in one sweet-lookin' bot.

Bot Supercharging is a paid add-on and is available with an annual subscription at less than $2 per trading day ($499/year). It works with any subscription you currently have, so the more bots you are running, the more you save. This means that if you have 20 bots or 100 bots, it's still the same price for Bot Supercharging.

*Your bot will execute automations continuously in a synchronous manner, one after the other, with a maximum execution rate of once per minute. In other words, the execution order (Events first, then Monitors, then ...)  is identical to both 5- and 15-minute scans. But instead of waiting for the next scan interval, the bot will begin executing automations again at the top of the subsequent minute.
‍For example: If a bot executes a Continuous scan at 10:04:00 and execution ceases at 10:05:40, because the automation is so large and has so many decisions/positions/opportunities to go through, then the next Continuous scan will trigger at 10:06:00.

⭐️ New position-based decisions to evaluate moneyness

We made it easier to evaluate if a position is ITM or OTM, and by different % or $ amounts to help give you more options on managing positions. With these new moneyness decisions, you can easily determine if a position is a) IN or OUT of the money and by how much.

⭐️ Ability to delete a bot with active positions

Deleting a bot with active positions was a pain because you had to override each position one by one. We get it, and we felt it too. So we updated this so you can delete a bot and any active positions automatically get converted to 'override' status.

⭐️ Reset buttons added for symbols and tags to Bot Dashboard

As with deleting a bot above, resetting or clearing symbols/tags wasn't easy, so we fixed it. Now you can reset symbols and tags from the bot dashboard.

⭐️ Toggle switches from the Bot Inputs window

I love switches, and I know you all do as well, so we made it possible to toggle your bot switches ON/OFF right from the Bot Inputs window. You might feel like a real fighter pilot flipping those babies on and off during the trading day now!

We're very excited for this year and have a bunch of awesome new projects in the works already. As always, we look forward to hearing your feedback. Thank you for being a part of the Option Alpha family!

Sincerely,

The Option Alpha Team