Can we capture some profit on SPY movement when Federal Reserve reports come out? That's the goal. The Fed has a news conference scheduled for interest rate decisions each month and the market often swings back and forth on the news, and can even reverse direction several times in the hours afterward.
This bot opens put and call credit spreads with ATM short strikes using an event at 2:15pm before the 2:30pm announcement. Long strikes are at the 10 delta. At least 2 DTE is used which should select Friday's expiration.
A monitor will close either of the spreads at 50% profit. Any spreads still open are closed with an event at 3:45pm. This bot's scheduled date and time are only valid for the day of the announcement. They will need to be updated for future Fed news days.
