This is a CORE Long Put Bot that is designed to buy 1 long put (simulate 100 shares of short a stock) in a downtrend, but having a short-term price bounce. To learn about trading long puts, check out the Long Put Strategy Guide.
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.
- Symbol Traded: SPY
- Expirations traded: 30 DTE or closest
- Long Strike: at -0.50 Delta
- SPY price is below 10-day SMA
- SPY price increased 0.25% since yesterday
- Position Size: 1 Contract
- Max positions opened per day: 1
- Max total positions at one time: 1
- Exit Conditions: 25% Profit Target or 5 DTE's with no stop.
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.