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Option and Expiration Availability

Bots notify you with an error or warning if a specific option leg or expiration are not available for your position. Here's why you receive these alerts, and how to avoid them.

If the option leg or expiration you choose isn't available based on your settings, you'll receive a 'Requested option not found' error or a 'No option expiration available' warning.

For example, if you choose an expiration date that is 'exactly 30 days,' but there are no option contracts available for the underlying security, you'll receive a warning.

No expiration available warning

Similarly, when opening positions, you can specify detailed instructions for each leg, but there may not always be an option contract that meets your criteria.

If you select a specific criteria, such as 'Long call leg is $5 above short call leg exactly,' and there's no option contract that fits that description, you'll receive an error.

Requested Option Leg Unavailable

To avoid these errors and warnings, you can use the 'Opportunity is available' decision recipe to check if the exact position is available. If it's not available, the automation will stop without alerting you. This can help you avoid multiple notifications. Once the position type becomes available, the automation will continue as usual. It's worth noting that more option contracts typically become available as expiration approaches and demand for options increases.


Why did I get a 'Requested option not found' error?

There is not always an available contract that meets your criteria when referencing certain variables. Check the option chain to determine if the option leg you are requesting is offered.

Why did I get a 'No option expiration available' warning?

If your settings include a specific date or date range, there may not be options available that meet your criteria. For example, if you select an expiration 'exactly 30 days,' and the underlying security does not have an expiration in that range, you will receive the error.

How do I avoid 'No option expiration available' warning?

An expiration may become available that meets your criteria. You can change the settings in the open position action for an expiration date that is available.

Why is there no option leg available?

Option contract availability is based on investor demand. Typically, more option contracts become available as expiration approaches and demand for options increases.

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Kirk Du Plessis
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