About this template
Edit: Hmm, I didn't intend to make an entire new bot template here. This was just trying to share the settings of @lealwai's bot. This is NOT a new bot, this is their bot, but with varied settings... Am trying to delete this but not seeing a way, so I just want to make it clear this is not my bot! This is the bot: https://app.optionalpha.com/community/all/post/sell-the-vol-superbot-weeklies-1-3-dte-50-500
Please keep all discussions over there in that linked bot thread since this is not a new bot.
I have this setup to use a $5000 allocation, but I also have several other bots running with various DTE targets, so I do have PDT allowed. I haven't tested performance with that disallowed. I'd say about 50% of the positions are opened & closed within the same trading day, but that's because I'm not good at letting the bot do it's job & closing them - I find myself wishing I'd left positions on since the performance of the paper trading one with more aggressive profit targets has absolutely crushed it.
Uses @lealwai Weekly 01-03 DTE Sell The Vol bot with slightly different parameters.
The current market seems to have a significant put skew, so the put leg is down at $8 below while the call is $7 above. Reduces risk to the upside, while keeping credits larger.
I've found that when bots are live, have really far out longs can cause position closing to fail, so I tend to bring the wings in a bit to help ensure an auto close is able to execute more readily.
I reduced the profit targets since I'm impatient and often find myself closing positions before the bot does - I'm trying to get better about letting winners run, but I've watched too many winners turn into major pains in the PnL, so I figure de-risk.
I also set its position size to a fixed contract count of 1, but this can be adjusted obviously.
Hybrid is on since I stopped using the 0DTE bots on live accounts until I had a better ability to manage bots/risk/positions.