About this template
Opens up a .30 delta, narrow put credit spread on SPY every morning expiring the next market day. Closes at 90% profit or at 3:15 on day of expiry. If it loses it tries to recoup the losses by opening up another 1dte PCS, but ATM and wider.
The original strategy (learned from some stranger on the internet so you know it's valid) was to open up these PCS with 1-3 days to expiration (this was prior to 5d a week expirations), and then roll repeatedly, slowly opening them up wider each time to capture enough to cover your losses. "Eventually it comes back around", he said. I haven't spoken to him since early in the year...hope he's ok.
Anyways, it's not easy to create these rolls with the bots, so it's kind of faking it.
When it's good, it's very good (150% in 2.5 months):
But when it goes bad...
So I added a manual roll option. If Manual Roll is on, the bot will only notify you when it has closed a loser. With the new open position button OA has provided, it's very easy to identify and place the perfect trade to cover your loss. Or not and just lick your wounds. There'll be another trade tomorrow.
