What’s New in Option Alpha: October 2024

0DTE

Backtest your ideas with the all new 0DTE Backtester!

Backtest, compare and combine 0DTE and next day trading opportunities with 1 minute historical data.

• Generate a bot to trade your strategy automatically directly from a backtest
• Compare and combine backtests results
• Share backtests publicly outside of Option Alpha
• Full transparency including position filtering and exit reasons
• Flexible entry and exit criteria including indicators, price range, profit taking, touch and more
• Monthly P/L and stats breakdown

Bots

Updated Smart Pricing options to improve trade fill prices

• Combine multiple Final Price options to automatically choose the best option available in that moment
• Allow slippage based on typically live trading slippage for the selected symbol
• Automatically defend against wide bid/ask spreads by combining % of bid/ask with slippage from the mid price

New Exit Option to test for position "touch"

Automatically close challenged positions before or after they go in-the-money.

• Use a fixed $ amount or % of underlying price
• Use a negative value to close the position when it is ITM a specific amount

Additional updates worth mentioning...

• Clone older template versions in the community
• Use a custom time for repeating and date scheduled automations
• Automatic check for conflicting legs in the same brokerage account
• Positions stuck in an error state automatically time out in 15 minutes
• Decision option to check for Nonfarm Payroll dates
• Added "Symbol" filter to position loop action
• Easy to read display of position and opportunity legs
• Added scheduled time to bot automations list