BB Reversion

This bot opens SPS/SCS after Bollinger Bands are breached and then begins to revert back to the mean.

Allocation:

I started this bot with a $5000 allocation. It rarely exceeds 50% of allocation.

Entry:

Everyday at 3:30 pm or later (for EOD entries, default), open a new 7-14 DTE position (targets following Friday weekly expiration, old scanner used 10 DTE) (1 contract, customizable) based on the following:

If ticker is above/below BB the previous day AND intraday price is now reverting back to mean AND price hasn't increased/decreased more than 0.5%, enter SPS or SCS.

SPS/SCS are set to -/+0.25 delta short leg, $5 wide wing (customizable).

Updated Monitor to use Exit Options

Exiting Positions:

All values are customizable by setting the corresponding Exit Options, but these are the defaults.

Profit Taking:

-Accelerated PT: Close positions that reach 60% profit if open for Accelerated PT Days Open market day or less (default is 1 market day).

-PT High: Close positions at 75% profit if expiration is more than Reduced PT 1 DTE market days away (default is 2 market days). Uses a trail of 60%/15%, trail turns off below 45%.

If position return is below PT Nearing Expiration (%) (default is 45%),

  -Reduced PT 1: Close positions at 40% if expiration is Reduced PT 1 DTE market days away or less (default is 3 market days).

  -Reduced PT 2: Close positions at 25% if expiration is Reduced PT 2 DTE market days away or less (default is 2 market days).

  -PT Low: Close positions at 5% if expiration is PT Low DTE market day away or less (default is 1 market days).

Stop Loss:

The monitor has 2 toggles to control stop loss exits. One continuously checks for stop conditions (stop loss and breached strikes); the other only checks at the EOD (at 3:30 pm and after). Here are the default values.

-Close positions at 200% stop loss if expiration is 1 market day away or less at EOD.

-Close positions if short strike is breached and expiration is 1 market day away or less at EOD.

At Expiration:

The bot will attempt to close positions at 3:30 pm and after on expiration day, if:

-Position return is < PT Expiration Close @ EOD (%) (default is 75%) OR

-Short leg chance of ITM is > Chance of ITM Expiration Close @ EOD (%) (default is 15%) OR

-Short leg OTM amount is < OTM Expiration Close @ EOD ($) (default is $2)

PDT:

This is a PDT safe bot (make sure Exit Options are set accordingly).

Performance: (Updated 6/15/24)