Echoing Steve's bot post yesterday about bringing to life some strategies that didn't seem plausible before the bots ability to monitor positions, here is one I have been running since the beginning of February with positive results. It looks to open a 2DTE Iron Condor on Monday and Wednesday. Monday's position closes on Wednesday and Wednesdays closes on Friday.
This one is the "conservative" version which opens 1 contract although with a couple of clicks and a clone you could create offspring to this idea for other tickers and also other allocations. There are checks for Open Interest and Bids to ensure that the results are as realistic to a live environment as possible.
The monitor looks to exit if a leg gets challenged and over the last 16 trades, 1 has been challenged for a loss. The profit factor on my original bot stands at 4.71% and the win rate is a cool 93%. If I am being fair, the conditions the last couple of months have been ideal for this type of strategy as VOL has been a little higher and SPY, my base symbol for this, has been more or less in a sideways range between 398 and 372.
Aside from the variations of different tickers, I am particularly curious to see what happens if we revert back into a lower vol, more consistent grind higher in the US Indices which has been the theme for the last year. (or 10 depending on how you look at it)
That's it for now.
Onward my bot friends!