About this template
This is an extension of the CORE Put Debit Spread (Beginner) and (Intermediate).
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 Advanced version adds a symbol loop recipe to the scanner for multiple tickers to be used.
The symbols are set by the Ticker List input. This is elevated to the bot level where it can be changed.
The scanner also has a test added to ensure only a single position is open in any ticker.
- Symbols Traded: SPY, QQQ
- Entry Condition: IV < 50
- Expirations traded: 30 DTE or closest
- Short Strike Delta: 50 Delta
- Short Strike: $5 Below Long Strike
- Position Size: 1 Contract/Spread
- Positions allowed to open per day: 2
- Total positions allowed to be open: 2
- Exit Conditions: 50% Profit Target or 5 DTE
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.
All inputs have been pushed to the Bot Settings Level as follows:
Note that the monitor used here is unchanged from the CORE Put Debit Spread Bot (Intermediate).
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.