Traders, we know how overwhelming it can be to manage all your open positions. You know the drill: once you open a new position you have to remember to come back, day after day, and babysit your new position. You have specific criteria to manage your position based on performance, expiration, and earnings announcements. With a portfolio of multiple positions, it's a lot to keep track of and a time-consuming responsibility.
Then, if you're lucky to be there when the time is right to close it, you have to manually enter another order to exit the position. As you probably know, the entire process of managing positions is inefficient and prone to errors.
But when you use Exit Options, you can now pre-set your exit criteria so your bots can manage your positions automatically. Every minute of every day. Plus, orders are only sent to the broker when your criteria is met, so you no longer need to worry about having resting orders exploited while sitting in an order book (say good-bye to stop-hunting market makers).
1-minute auto position management
Exit Options check your position every minute from 9:40am EST - 3:59pm EST and automatically send a closing order if your exit criteria are met. Exit Options always run, even if your automations inside a bot are turned off, so your positions are always managed.
You can customize each position's Exit Options for specific management using four triggers:
- Profit Taking
- Stop Loss
- Before Expiration
- Before Earnings
Note: It is possible that a position may not be closed when an order is sent to your broker for execution. Markets move fast and bid-ask spreads can be volatile. Orders triggered by an exit option will remain active for two minutes; during that time, no additional orders will be sent to your broker. If the order is not filled, exit options will resume checking the position at the next 1 minute interval.
The Before Expiration and Before Earnings triggers operate based on calendar days in the same way 'days to expiration' is calculated and will execute at 3:29pm ET if true. When using an exit trigger for Before Expiration or Before Earnings, its the responsibility of the trader to be aware of how weekends and market holidays will effect the contracts days to expiration value.
You can also check the PDT box and the bot will wait at least one day to close a position to avoid pattern day trading.
Save your Exit Option criteria as a Preset to be reused for similar position types. You can name your presets for easy identification. All Exit Options will automatically populate when you use a Preset.

Using Exit Options
You can set your Exit Options for any trade when opening positions manually or in an automation's Open Position action. When using Exit Options in an Open Position action, all positions opened in the automation will have the same exit criteria. Once opened, Exit Options are specific to each position. You can always edit each position's Exit Options at any time after it is opened.
Additionally, you can choose to enable and disable Exit Options in the bot's Safeguards in the Settings tab at any time.
Exit Option closing orders
You can use SmartPricing when closing a position, turn off SmartPricing, or use a market order. Profit taking Exit Options set the final price to your profit taking level to ensure your minimum profit target is received if the order fills. Exit Option orders are automatically canceled after two minutes. If an order is not filled, Exit Options will check your position at the next interval and, if necessary, re-start the process of sending orders to your broker if the exit criteria are still met.
Watch this workshop for an in-depth look at Exit Options: Introduction to 1-Minute Automated Exit Options.