What’s New in Option Alpha: August 2025

Advanced Gamma Exposure charting by expiration

Visualize a symbol's gamma exposure for a particular expiration including net gamma, absolute gamma and call vs put gamma. If you are unfamiliar with Gamma Exposure (GEX), here's a great article on what it is and how it can affect the market. We are currently working on implementing GEX strategies into the backtester and bots for automating gamma exposure trading for the next release. If you know of a strategy or have any ideas or features you would like to see included, please let us know in the comments.

The blue (calls) and orange (puts) areas in the chart background represents the current day's volume. ‍

Instant Exit Options

Live trading bots have a new option to enable instant exit options and position high/low stats tracking. Instead of checking every 1 minute on a schedule, exit option monitoring and high/low stats tracking is triggered when the pricing for any legs of the position change. You can enable instant exit options on the bot's settings screen:

*Instant exit options are currently only available for live trading bots.

New filters and stats for Top Bot Templates

We were so excited to share this update with you that we deployed it a couple weeks early.

Improvements to New Position and Position Details screens on mobile

We addressed several of the frustrating issues with opening positions on mobile like auto zooming when adjusting the trade price and horizontal scrolling.

Additional Expiration exit options in bots and backtester

Added 1 minute increments for Expiration exit option and additional hourly options. New hourly options can be used to exit at a specific time before the close (e.g. "5 hours before" for 11:00am).

Filter bot log by time of day

Select position legs based on equity position trade price

Decision recipe: Symbol reports earnings after close today, before next day open or after next day close

Decision recipe: Compare an opportunity vs another opportunity

This is the first decision recipe to use a new math system we plan to add to similar decisions in the future:

Decision recipe: Compare a position property vs another position property

For example, [position underlying price] is greater than [position underlying price at open] by [1.50] to test if the underlying price has increased at least $1.50 since the position was opened.

Decision recipe: Check if the bot has opened/closed position with a specific tag today

Note: tag must be on the position when it is opened or closed to be tracked (not added later)

Decision recipe: Check the last time a bot opened or closed a specific type of position

Added a popup in Settings / Webhooks to see list of bots using a webhook

Added a popup in Bots / Library / Automations to see list of bots using automation

Additional updates worth mentioning:

• Generate an ORB bot that trades same day high and low breakouts in one bot (e.g. 2 positions per day)
• New positions show up in position lists without refreshing
• Search bot list by bot name
• Sort Bot Symbols list by Gap %
• Manually reset a position's high/low tracking stats
• PDT blocking is now a warning instead of error
• Additional day selection options for OHLC bot decisions