Decision Recipes

Comparing Underlying Symbol Price to Position Leg

Comparing an underlying symbol's price to a position leg allows you to make decisions based on a position’s underlying price relative to an option leg in the position. Here is how to use it.
Comparing Underlying Symbol Price to Position Leg
Steve Henry
May 3, 2021

The decision recipe for comparing an underlying symbol’s price to a position leg has four inputs:

  • Position
  • Above / below
  • Long / short
  • Call / put

This decision recipe allows you to make decisions based on a position’s underlying price relative to an option leg in the position.

Screenshot displaying the decision recipe for comparing underlying symbol price to a position leg

Because comparing an underlying symbol’s price to a position leg decision recipe uses information from an existing position inside a bot, it is typically used in monitor automations and after a repeater action.

Screenshot highlighting the repeater action in the automation editor

The first field prompts you to choose an existing open position inside the bot. Each existing position in the bot will be linked, and this field will pull in the necessary data from the position.

Screenshot highlighting the position link associated with the repeater action

In the second, third, and fourth fields, you will define if the underlying position’s price is above or below the long or short strike of a call or put option leg in the position. When you have finished creating the recipe, select “Save.”

Screenshot highlighting the save button following the decision recipe inputs

The decision will be added to the list of criteria. You have the option to add more decisions to the recipe or return to the automation editor. When finished, select “Save” again to return to the automation editor.

Screenshot highlighting the save button to return to the automation editor

The automation editor will display your completed decision criteria for comparing an underlying symbol’s price to a position leg.

Screenshot highlighting the decision recipe within the automation editor

You can always select the decision inside the automation editor and make changes to the criteria.

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