About this template
CORE sample bots are a great resource for traders to familiarize themselves with one of the core options trading strategies and how they can be automated through Option Alpha.
This CORE Long call debit spread beginner bot buys 1 long call spread in a single ticker when IV Rank is below 50.
Bot Overview
- Symbol Traded: SPY
- Entry Condition: IV <50
- Expirations traded: 0.30 DTE or closest
- Short Strike: $5 Above Long Strike
- Long Strike: at 0.50 Delta
- Position Size: 1 Contract/Spread
- Positions allowed to open per day: 1
- Total positions allowed to be open: 1
- Exit Conditions: 50% Profit Target or 5 DTE's with no stops.
This is a beginner bot, as you learn more about autotrading, consider making two clones of this bot. You could leave one clone unchanged to learn from and observe while modifying the other clone to customize its settings and decision recipes to fit your trading style.
