Bots are like a trading assistants that perform trading tasks for you. Bots are consistent, emotionless and systematic. Bots can do many things including:
Combine all of these to execute a fully automated trading strategy.
Your bot can use market data and indicators to make decisions, open and close positions, send you notifications and much more. Automations are the instructions you add to your bot that define the actions you want it to perform:
Automations can be scheduled to run continuously every 1 minute, based on a repeating schedule, when you click a button, and many more options:
Ready to automate your trading? Watch our Fast Track Guide!
For example, add a scanner automation to your bot to watch for specific entry conditions and automatically open a position when it's available:
After your bot opens a position, it will monitor the position every 1 minute checking for your predefined exit criteria:
You can also add a monitor automation to your bot that checks for more specific exit conditions:
Everything the bot does is logged with full transparency. No black box here! Your bot's log has details of what happened each time an automation runs:
Including the actions executed in the automation:
You can even inspect the exact data the bot used when making decisions:
and opening positions:
Your bot logs the profit and loss for all of its positions so you can keep track of it's profitability:
The bot templates below include a step by step video showing how to set up a bot from scratch to find, open and manage positions automatically.
View and clone sample bots
Option Alpha provides several new ways for finding trades, each tool designed to provide insights for a specific trading opportunity available to options traders...
Finds trades with an edge based on expected value (EV) and probabilities.
The Trade Ideas backend scans continuously during market hours (9:35am - 3:55pm) and finds trade ideas in 3 ways:
Find and analyze 0DTE and next day trading opportunities.
Aims to solve the problem of probabilities and expected value (EV) being less accurate for 0DTE trades by providing backtest results to help us identify quality trades, instead of relying on probabilities.
Each trade's metrics are backtested against the underlying's previous 1 year of intraday minute data to see how trading a similar position daily would have performed over that time.
To empower you with the tools needed to be a highly successful options trader. We believe something better than traditional manual trading is needed to compete in today's market dominated by high speed computers. The Option Alpha platform leverages advanced math, backtesting and automation to find trades with an edge, increase consistency, reduce emotion/bias and improve long-term trading results.
Here are some ways you can use Option Alpha to be a more powerful options trader:
