This release is a major update to the Option Alpha platform with many new features including several long awaited backtester enhancements. These capabilities provide us with new strategic insights to improve our collective trading results.
This is the beginning of a new era for us as options traders.
One of the primary benefits of using the Option Alpha platform is being a more consistent trader. Combining short and long DTE strategies takes that one step further, enabling us to create, optimize and automate a profitable long-term trading plan in spite of short-term market fluctuations.
In my own experience as a trader, at times my trading can become driven by impulsive decisions instead of a well thought out and tested plan. This is an important hurdle for me to overcome as a trader as these brief moments negatively impact my long-term consistency and results more than anything else.
My best results as a trader come when I create a long-term plan in advance and stick to it through the inevitable market ups and downs. In order to stick to the plan during a drawdown, I need a reason to trust that it is going to be profitable long-term in spite of short-term volatility.
That is where backtesting comes in and is one of the reasons this update has me excited for the future. The ability to build a tested, diversified trading plan that scales across multiple DTEs and symbols means all of my trading can follow this 3 step framework:

We hope your trading plan (and results) will be positively impacted by these new features too.
Backtest up to 45 DTE
Advanced DTE selection options including ranges and market vs calendar days:

Backtest back to 2013
Backtesting data goes back to January 2, 2013 for all symbols except XSP which goes back to January 2, 2015.

Update a bot from a backtest
Test and modify your strategy and then update the bot that trades it, keeping existing positions and stats:

"Stop Loss $" and "Profit Taking $" exit options
Close positions automatically when they hit a certain $ profit or loss.

Copy or download backtest positions as a CSV
Copy and paste backtest results into your favorite AI engine.

Copy backtest settings to paste into AI

Custom bid/ask spread guards in backtesting
You now have control of the bid/ask filtering for closing positions in the backtester.
The default is to use the existing automatic filtering:

But if you uncheck it you can provide your own value:

New exit option "Avoid Events" for important market event dates


New DTE filter on My Backtests and Top Backtests screens

Click to view positions filtered by status in backtester stats

Click to view longest winning and losing streaks in backtester

Control max concurrent open positions (Position Limit) for a multi position backtest
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Control position "frequency"
Combine the Position Limit above with this position frequency option to space out multiple positions in a longer DTE strategy.

Prevent backtests from opening more than 1 position in the same expiration

Toggle P/L lines in backtest compare screen

Top Backtests filtering and flagging
The Top Backtests section is a gold mine of backtested trading plans for all of us to tap into. I found the 1:45pm Sandwich strategy in there. However, with over 750K+ backtests to choose from, some of which are not viable for live trading, it can be very time consuming and tedious to find a good strategy.
This release includes a way to filter and hide backtests that are invalid (or just don't interest you) so we don't have to constantly sift through the same backtests.
Select to hide or flag backtests:

Choose whether to hide similar tests for you or flag it as an invalid test for everyone:

Any backtests with the same rules are filtered from your results. You can also control the level of filtering for backtests flagged by other traders:

If you have some time, please join us in filtering out backtests that are invalid. It will help all of us and other traders joining the platform find new trading strategies. Thank you!
New backtest "Saves" column and filter
Find backtests based on whether other traders have saved the backtests:

Intelligent strategy leg default options
When selecting position legs, the default options are intelligently selected based on context. For example, when selecting the long put leg of a short put spread, the default options are "below short put leg" instead of the old generic selection of "above long call leg."

Bot icons update includes searching, names and many new icons to choose from

Delete multiple alerts at once on the homepage

2 new Position Size options
Limit the max number of contracts opened by "$ risk" and "% of capital" position sizing.

New decision to check if an event occurs before a specific expiration

New position tag related decisions
Check when the bot last opened/closed with a tag. Test for position(s) with a tag and a specific expiration.

Place trades good till end of day
This option is only available for manual trades.

Bots "Account" column
Click the settings icon in the top right header of the bots list to enable it:

Longest Streaks on bot dashboard
Click on the current streak on the bot dashboard under "Stats":

Change a bot's account

Note: you can't change a paper bot to live or live to paper.
Several new symbols added:
SPCX SpaceX Inc
RDDT Reddit Inc
SNDK Sandisk Inc
ARM Arm Holdings PLC
SGOV iShares 0-3 Month Treasury Bond ETF
Other updates since our last release:
- Average win/loss filters for top backtests
- Cleaned up backtests with bad orb legs + prevented them from running in the future (e.g. selecting a leg based on the 60 minute ORB price at 9:45am)
- Include bot name in conflicting leg recipe account check
- New alert on the position screen when the position's exit options are disabled (and why)
- Fix for option greeks getting chopped off on the position screen
- Updated paper trading engine to avoid filling orders for a price that exceeds a position's spread width.
- 0DTE Oracle moved to More Tools page


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