What’s New in Option Alpha: March 2024

Over the weekend we pushed a new release of Option Alpha with several new features to upgrade our trading experience. This release was a collaborative effort between the OA team and many helpful members in the community who took the time to contribute creative ideas and feedback to the development process. On behalf of the OA Team, we love and appreciate all of you!

Here's a quick overview of what's new:

⭐️ New OA Labs section with early access to new, experimental ideas including:

Forecaster - Forecast a future stock price to find trades with the best results at that price.

Earnings - Historical analysis and stats for earnings reports.

Trade Grid - Quickly compare and place your own custom trade ideas.

Brokerage Accounts - Simple view of current account balances and positions across multiple brokerage accounts.

⭐️ Ability to update bots cloned from a template to the latest version

Upgrade a bot cloned from a template without having to start over from scratch.

⭐️ Ability to test the number of exit attempts a position has had in the current day

Let your imagination run wild with this one...

⭐️ The “Position opened” trigger has a new input to access the position that was opened

⭐️ New decision to test if a position's underlying price is inside or beyond the breakeven, short strike or long strike price

⭐️ Ability to use tagged symbols as the value for "Symbols" inputs

Example use: Use a Conditional action + Bot Symbols loop to tag symbols based on various criteria/market conditions and then execute a find trade idea action with the symbols that have a specific tag.

⭐️ Added a refresh button to update Bot Symbols immediately

⭐️ All 3 bot position “count” decisions now have a status option to count the number of positions in a specific state

This finally allows us to test if a bot has a position that is actually open (vs opening) to hedge or chain into multiple positions.

⭐️ Live/paper filter on the bot selector menu

⭐️ Ability to count the number of symbols a bot is currently using

⭐️ New position "spread width" and "P/L per contract" values in decisions

⭐️ Trade Ideas “Auto-Trade” automatically sets up and initializes the selected watchlist filter

⭐️ Updated trailing stop to support faster activation and less strict trailing rules

⭐️ Position mid price filter no longer requires a max price

Thanks again for being a part of the Option Alpha family. We look forward to hearing your feedback in the community.

Sincerely,

The Option Alpha Team