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Beginner
What is an options contract?Stock trading vs. options tradingOptions contract specificsCall vs. put options basicsBuying options vs. selling optionsOptions profit and loss diagramsOptions pricing tablesOption moneyness (ITM, OTM, and ATM)Options pricing and the "Greeks"Options expiration and assignmentWhat's our "edge" trading options?Single vs. multi-leg options strategiesSmall account options strategies
Intermediate
Fearless, confident options tradingHistorical volatility vs. implied volatilityPredicting market movesTrade size and capital reservesPortfolio balance and beta weightingHow to choose the best options strategyHow far out to place trades?Strike price anchoring with probabilitiesTips on getting your trades filledAdvanced and contingent orders7 step options trade entry checklist
Advanced
Developing a daily trading routineHow to avoid "Black Swan" eventsAdjusting and hedging option tradesExiting options trades automaticallyOptions strategies we don't adjust (and why)Big picture adjustment strategyWhen to adjust or notAdjusting straddles and stranglesAdjusting credit spreads, iron condors, and calendarsSmarter stop-loss ordersBuilding a diversified options portfolioRolling options trades for duration and premiumOptions expiration week position checklistDealing with stock assignment and dividendsHow to free up trading margin and cash
By subject
Options basics
Why options vs. stocks?What is an options contract?Smart use of leverageOption strike priceOption premiumOption expirationOption contract multiplierProfit and loss diagramsLong call option explainedShort call option explainedLong put option explainedShort put option explainedATM, ITM, and OTM optionsCash vs. margin basicsHigh probability trading definedHow to buy a call optionHow to buy a put optionSingle-leg vs. multi-legWhat is the VIX?Is fundamental analysis dead?
Entering and exiting trades
Game of numbers7 step entry checklistStrong liquidity examplesPicking the next directionScanning for tradesOption pricing table basicsSetting up your trade tabPinning your probability of profitUsing delta for probabilitiesBuy to open vs sell to openBuy to close vs sell to closeMarket, limit, stop loss orders5 types of contingent ordersLimit ordersMarket ordersLimit on close ordersMarket on close ordersAdvanced contingent ordersTaking profits before expirationMechanics of rollingConsider future events
Options expiration
Options expiration explainedWhat is the Options Clearing Corporation (OCC)?Physical vs. cash settlement optionsAmerican vs. European style optionsWeekly options expirationWeekly expiration tags/codesOptions assignment processOptions exercise processTrading timeline (duration)
Bullish options strategies
Bull put spreadBull call spreadLong callShort putBull call backspreadPut broken wing butterflyCall calendar spreadPut diagonal spreadCustom naked putCovered callSynthetic long stock
Neutral options strategies
Short straddleLong straddleIron condorsShort strangleLong strangleIron butterflyUnbalanced iron condors
Bearish options strategies
Bear call spreadBear put spreadLong putShort callBear put backspreadCall broken wing butterflyPut calendar spreadCall diagonal spreadCustom naked callCovered putSynthetic short stock
Portfolio managmeent
No guaranteed tradesDon't do something, sit thereAccount size adjustmentsAvoiding stock market overloadStocks, indexes, & ETFsMonitoring positionsCreating automatic alertsIndividual stock betaPortfolio betaBeta weighting your portfolioUncorrelated industries/sectorsSystematic vs. unsystematic riskEfficient portfolio frontierLimiting undefined risk tradesEconomic calendarConcept of legging
Options pricing and volatility
How to find option price quotesUnderstanding the mathIV vs. IV percentileProbability of profit vs. probability of touchOption probability curveBid-ask spread definedIV expected vs. actual moveThe "Greeks"Fatal pricing errorsInverse ETFsOptions parity
Adjusting trades
#1 adjustment for any tradeWhen to adjust a tradeSingle options trade vs. overall portfolioCall spread adjustmentsPut spread adjustmentsShort strangle adjustmentsIron condor adjustmentsShort straddle adjustmentsCalendar spread adjustmentsDebit spread adjustmentsButterfly adjustmentsUsing stop lossesDelta hedgingRolling positionsPairs hedging
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Strategies
OverviewLong callLong putShort callShort putCovered callCovered putProtective putCollar strategyLEAPSBull call debit spreadBear call credit spreadBull put credit spreadBear put debit spreadLong straddleShort straddleLong strangleShort strangleCall calendar spreadPut calendar spreadIron condorReverse iron condorIron butterflyReverse iron butterflyCall butterflyPut butterflyStrapCall diagonal spreadPut diagonal spreadCall ratio spreadPut ratio spreadCall backspreadPut backspreadLong box spreadShort box spreadReversalStock repair
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Overview
Getting started
What is a bot?Creating a bot
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Bot automations
What is an automation?Scanner automationsMonitor automationsEvent automationsEditing automationsReusing automationsCopying automationsOrdering automationsUsing custom inputsBot level inputsAutomation statusesAutomations library
Bot actions
DecisionsOpen positionClose positionNotificationsLoop symbolsLoop positionsBot tagsPosition tags
Bot examples
Genesis 1.0 botGenesis 2.0 botGenesis 3.0 botTrend trading with stocks botPortfolio trend trading botTrend trading with options botMultiple moving averages botTechnical swing trading botTrend and momentum botWeekly credit spread botRecurring iron condors botThe "Honey Badger" botHybrid spreads botHigh IV rank iron condor bot
Decision recipes
Comparing underlying symbol priceEvaluating symbol typeEvaluating underlying symbol OHLCComparing underlying symbol propertiesEvaluating underlying symbol performanceEvaluating underlying symbol standard deviationComparing underlying symbol price to an indicatorComparing multiple underlying symbol indicatorsEvaluating underlying symbol implied volatility rankEvaluating underlying symbol earnings reportingEvaluating underlying symbol price probabilityEvaluating underlying symbol probability within rangeEvaluating bot propertiesEvaluating bot available capital for opportunitiesComparing bot position count to position typeComparing bot position count to underlying symbolEvaluating bot position count to position type and underlying symbolEvaluating bot last position activityEvaluating bot last activity with underlying symbolEvaluating bot position activity historyEvaluating bot position activity history with underlying symbolComparing bot active orders statusComparing bot active orders status with underlying symbolEvaluating bot position availabilityEvaluating bot tagsEvaluating opportunity availabilityEvaluating opportunity return expectationsComparing opportunity attributesComparing opportunity leg attributesComparing opportunity bid-ask spreadEvaluating opportunity probabilitiesEvaluating position performanceComparing profit target to trailing valueComparing position time to expirationComparing position durationEvaluating position underlying symbolComparing position propertiesComparing position leg propertiesEvaluating position typeEvaluating position sideComparing underlying symbol price to position legEvaluating position tagsEvaluating underlying symbol indicator propertiesComparing multiple underlying symbol indicator propertiesEvaluating MACD technical indicatorComparing Bollinger Bands to symbol priceEvaluating stochastic technical indicatorComparing VIX propertiesEvaluating market time of the dayEvaluating days of the weekEvaluating bot switches
Position statement
Activity summaryPosition detailsTrade detailsOpened positionsClosed positionsCanceled positionsOverride positionsExpired positionsPosition historyManually open positionManually close positionImport position
Order pricing
SmartPricingFinal price settingsPosition summaryOrder detailsWorking ordersManual override
Bot templates
Creating new templatesUpdating existing templatesDeleting templatesSharing templatesUpdating shared templatesTemplate best practices
Cloning bots
Cloning existing botsCloning from templateCloning from shared template
Troubleshooting
Using bot logsTesting your botsNot enough capital warningDaily position limit warningTotal position limit warningPricing anomaly warningMissing or invalid input errorDaily symbol limit errorExcessive errors failsafeOverlapping strikes failsafePrice exceeds strike-difference errorOptions expiration protocolDuplicate orders errorOptions approval level errorBot event loopsStock splits and corporate actionsSupported browsersSupported countries
Community forum
Community guidelinesCrafting your introductionSending group messagesSending private messagesAttaching bot templatesReceiving bot templatesAttaching automationsReceiving automationsFollowing tradersPosting publiclyEditing posts and messagesSubscribed discussionsUsing bookmarks
Using backtester
Running a new backtestBacktesting results summaryModifying existing backtestsMy backtestsInstantly create bot from backtestBacktesting research databaseTop backtestsBacktesting errors
Account settings
My profileTrading accountsConnecting to TDAmeritradeConnecting to TradeStationConnecting to TradierIncompatible accountsPassword managementSession timeoutTwo-step authentication
Technical docs
Infrastructure and securityAutomation structureAutomation behaviorData feedsOrder handlingTrade enforcementsBroker rejection errorsBot limitationsProfit and lossFair value pricingDecision propertiesDecision calculationsParameter selectionCalculating probabilityPlatform indicators
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The Option Alpha Podcast

Each week we'll highlight a new trading topic, breakdown a case study or interview someone awesome about options. If you're looking for inspiration, motivation, and actionable content during your daily commute, workout, or "me" time, then you've come to the right place. Plus, we take questions directly from the community and cover the latest autotrading updates for the week.

Already listened to our show and found our podcast insanely helpful? Please help spread the word by leaving us an honest rating and review. Then, let us know how we can improve or enhance the show to help you.
Show #224
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Aug 8, 2022
Beginner's Guide to Trading Option Spreads
Options spreads are a simple but powerful and flexible strategy for traders. This episode focuses on understanding option spreads and how to trade them in your portfolio.
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58:40
Show #223
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Aug 1, 2022
Building a Bot for All Market Conditions: The "Hexabot" Story
What if you could build an automated strategy that navigates all market conditions? The Hexabot evaluates the market trend and proactively adapts to current market conditions. In today’s episode, we introduce you to the Hexabot and share its entire origin story.
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2:39:44
Show #222
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Jul 25, 2022
A Holistic View of Option Strike Prices
Strike prices are a critical concept to master if you're going to trade options. You need a holistic understanding of what they are, how they work, and why they are different than break-even prices to successfully and safely trade options.
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41:14
Show #221
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Jul 7, 2022
How to Setup & Trade a Synthetic Covered Call Strategy
‍Covered calls are a great way to generate income on your stock positions. Learn why many stock traders start with covered calls and the benefits of using a synthetic covered call strategy.
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48:52
Show #220
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Jun 29, 2022
Four "Wicked-Smart" Ways to Use SmartPricing
On this episode, we'll explore four intelligent ways you can leverage SmartPricing in your automations.
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26:49
Show #219
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Jun 23, 2022
How to Calculate Break Even Prices for Option Strategies
Follow along step-by-step as we break down break even price calculations for ten popular options strategies.
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1:00:27
Show #218
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Jun 15, 2022
How to Survive Bear Markets Trading Options
Bear markets are inevitable and unavoidable. In this episode, we present intelligent ways to prepare for and survive a bear market using options trading.
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48:07
Show #217
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May 5, 2022
Shop Talk: Autotrading Expectations, Trading Routine and Consistency, and Market Update
In this week's shop talk, we explore how to manage your autotrading expectations, and share tips for trading routine consistency, and discuss current market news.
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37:15
Show #216
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Apr 24, 2022
Shop Talk: Twitter Bid, Oil Volatility, and Strategy Selection
We "talk shop" about the recent news with Elon Musk's Twitter bid, why people are attracted to IPOs, selecting and refining the right strategy, crude oil volatility, habit-forming and changing, and what we have noticed in markets recently.
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55:27
Show #215
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Apr 12, 2022
The 15 Trading Psychology Questions to Ask Yourself If You Don't Have a Trading Coach
In this episode, we present a collection of questions to help you dig deep into your psychology and mindset around trading.
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34 mins
Show #214
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Mar 16, 2022
Build A Fully Automated Options Portfolio with $3,000 in 1-Click
On this podcast, we introduce a new bot template that you can clone with one click. This bot is perfect for traders with portfolios of around $3,000.
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1 hour 19 mins
Show #213
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Mar 1, 2022
What I Learned From NOT Trading Last Year
I did not trade last year. My attention was focused on the launch of the autotrading platform and not on the daily routine of trading. The year away provided many lessons that I want to share with you all in this episode.
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28 mins
Show #212
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Feb 25, 2022
How Smart Traders Allocate Capital Efficiently Inside Their Bots
In this show, we'll highlight ways to allocate capital inside your bots and unpack some thought-provoking questions you should consider when building your automated trading strategies.
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54 mins
Show #211
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Feb 8, 2022
Iron Butterfly Strategy - 8 Tips Before Your Next Trade
The iron butterfly strategy is popular for traders of all experience levels. This episode explores the basics and provides 8 actionable suggestions you should consider before placing your next trade.
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1 hour 1 min
Show #210
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Jan 31, 2022
12 Complex Things That Are Simple To Automate With Bots
Trading doesn't have to be complicated. Before automation, you had to complete countless tasks manually for every position. Now you can automate these repetitive processes with bots. Here are 12 examples of complex things you can automate with bots.
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1 hour 3 mins
Show #209
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Jan 18, 2022
The Doors Are Open to Autotrading & The Next Chapter of Option Alpha
In this episode, we share how to get access to our new platform and what comes next on your autotrading journey. We’ll also explore why we built the platform, what it does, and what’s next for Option Alpha.
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1 hour 21 mins
Show #208
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Sep 13, 2021
The Importance of Deep Work for Traders
What is "Deep Work?" How can it help your investing and your life? In this episode, we'll discuss the concept's roots and share tips to improve your daily routine.
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33 mins
Show #207
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Aug 16, 2021
The Option Alpha "Handbook"
Learn more about the Option Alpha Handbook, a free, non-subjective, digital encyclopedia for everything you want to know about trading.
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47 mins
Show #206
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Aug 11, 2021
Trendy Short Put Spread [Bot Talk]
Follow along step-by-step as we build a bot and update automations. Learn how to use the Backtester to identify a strategy and create a bot template with simple, specific decision criteria.
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1 hour 26 mins
Show #205
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Aug 2, 2021
Hedging vs. Diversifying
What is hedging? What is diversifying? Are they the same thing? This episode takes a closer look at the pros and cons of each concept, portfolio risk management, and what you really need to know about correlation.
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36 mins
Show #204
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Jul 26, 2021
How to Intelligently Use SmartStops
Learn how to intelligently use SmartStops to optimize your trade exits with Option Alpha's proprietary technology that lets you set a profit target and trail the position with a stop loss.
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22 mins
Show #203
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Jul 19, 2021
Interview w/ Pete Mulmat - Futures And The Small Exchange
On this episode, Pete Mulmat of the Small Exchange joins the podcast to discuss futures contracts. Learn why Pete is on a mission to make futures more accessible with small, standardized, and simple contracts.
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52 mins
Show #202
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Jul 12, 2021
8 Popular Decision Recipes for Automated Trading
Decision recipes are the building blocks of automations. On this episode, we highlight eight popular decision recipes used in the autotrading platform.
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34 mins
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4.8 (1.1k Ratings)
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