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 put debit spread beginner bot buys 1 long put spread in a single ticker when IV Rank is below 50. Since this type of trade benefits from and increase in IV of the underlying, it is currently set to enter only when the IV of SPY is below 50.

Bot Overview

• Symbol Traded: SPY
• Entry Condition: IV <50
• Expirations traded: 30 DTE or closest
• Long Strike: at 0.50 Delta
• Short Strike: $5 Below Long Strike
• Position Size: 1 Contract/Spread
• Max positions opened per day: 1
• Max total positions at one time: 1
• Exit Conditions: 50% 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.

If you have any questions - feel free to ask as always!