About this template
This is an extension of the CORE Iron Condor.
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.
The intermediate version adds a Symbol Loop to the scanner for multiple tickers to be used with a check added to ensure only a single position is open in any ticker.
The symbols are set by the 'Ticker List' input. This is elevated to the bot level (settings) where it can be changed.
- Symbols Traded: SPY, QQQ
- Entry Condition: IV > 20
- Expirations traded: 30 DTE or closest
- Short Strike Delta: 0.15 Delta
- Spread Width: $5
- Position Size: 1 Contract/Spread
- Mac Positions allowed to open per day: 2
- Max total positions allowed to be open: 2
- Exit Conditions: 50% Profit Target or 5 DTE's with no stops.
Up to ten ticker symbols can be used. They are set in the bot level Ticker List input on the bot's Settings panel.
Change the position limits to allow the bot to hold more than 2 positions at a time.
Note that the monitor used here is unchanged from the CORE Iron Condor Bot (Beginner).
This is an intermediate bot template, 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.