Steve Henry

Steve Henry

Content Director

About

Steve is Option Alpha's content director and is dedicated to helping educate others as they learn about options and automated trading. Steve has been actively trading options and future full-time for more than eight years.

Education

References

Experience

  • Published 200+ options trading, trading education, and automated trading articles
  • Experienced options trader
  • Experienced futures trader
  • Options fundamentals (calls, puts, writing options, etc.)
  • Options pricing models (Black-Scholes model, etc.)
  • Option strategies (spreads, straddles, condors, etc.)
  • Greeks in options trading (Delta, Theta, Gamma, Vega)
  • Risk management in options
  • Expiration cycles, option settlement, and assignment risk
  • Automated Trading
  • Algorithmic trading strategies
  • Building trading bots
  • Backtesting strategies
  • Market order types (limit orders, stop orders, etc.)
  • Bull and bear markets strategies
  • Options Trading Platforms & Tools
New SmartPricing Options to Improve Trade Fill Prices
Platform Updates

New SmartPricing Options to Improve Trade Fill Prices

New SmartPricing settings give us more control by allowing us to select multiple options when choosing a Final Price setting so we can automatically use the best price.
What’s New in Option Alpha: October 2024
Company News

What’s New in Option Alpha: October 2024

October's platform release features an all new backtester to compare and combine 0DTE and next day trading opportunities with 1 minute historical data, and automatically create a bot from any backtest.
Enhanced Backtesting Logs Show Why Trades Were Filtered
Platform Updates

Enhanced Backtesting Logs Show Why Trades Were Filtered

Option Alpha's 0DTE backtester includes detailed trade logs to better understand if and why any positions were filtered out of the backtest’s results.
New Risk & Drawdown Stats Adds Clarity to Performance
Platform Updates

New Risk & Drawdown Stats Adds Clarity to Performance

Backtestx include max risk and max drawdown stats to help traders evaluate strategies when comparing backtest results.
Backtester Monthly P&L Table Helps Improve Expectations
Platform Updates

Backtester Monthly P&L Table Helps Improve Expectations

The 0DTE backtester includes monthly trade logs to visualize every position's details, giving you full transparency and the confidence of past trade performance.
Automatically Generate Bots From Any Backtest
Platform Updates

Automatically Generate Bots From Any Backtest

Instantly turn any 0DTE or next day options backtest into an automated bot that trades the backtested strategy's exact entry and exit criteria and position settings.
Combine Multiple Backtests Into One Portfolio P&L Curve
Platform Updates

Combine Multiple Backtests Into One Portfolio P&L Curve

Combine multiple 0DTE and next day backtests into one portfolio P&L curve to visualize and analyze the cumulative performance of different strategies.
New Exit Option for ITM Price "Touches"
Platform Updates

New Exit Option for ITM Price "Touches"

The October 2024 platform release introduces a new Exit Option to manage in-the-money trades, and the ability to backtest positions using ITM values.
Backtest Slippage When Opening & Closing Trades
Platform Updates

Backtest Slippage When Opening & Closing Trades

The all new 0DTE and next-day backtester lets traders include slippage for entering and exiting positions when backtesting strategies.
The Rise of SPX 0DTE Trading: Analyzing Volume Trends
Research Insights

The Rise of SPX 0DTE Trading: Analyzing Volume Trends

SPX 0DTE trading has become increasingly popular since the Cboe introduced them. We analyzed 0DTE 2024 volume trends and the evolution of 0DTE options.
Trading the FOMC Meeting: 0DTE & Next Day Strategies
Research Insights

Trading the FOMC Meeting: 0DTE & Next Day Strategies

Is the FOMC announcement bullish or bearish? We analyzed SPX data around Fed days to see if there’s a tradable edge for 0DTE and 1DTE options.
What’s New in Option Alpha: August 2024
Company News

What’s New in Option Alpha: August 2024

The August platform release gives us the ability to auto-trade backtested 0DTE opportunities from the 0DTE Oracle; plus major improvements to bot building, and new decision recipes.
Using Webhooks to Automate the Squeeze Indicator
Strategic Thinking

Using Webhooks to Automate the Squeeze Indicator

Based on the popular TTM Squeeze, the Squeeze Indicator combines Bollinger Bands and Keltner Channels to signal potential breakout opportunities. Use webhooks to trigger automations and automatically open positions.
What’s New in Option Alpha: July 2024
Company News

What’s New in Option Alpha: July 2024

July's release features the 0DTE Oracle and Earnings Edge, two new ways to find backtested trade ideas. Plus, the addition of Webhooks brings added flexibility for traders.
Earnings Edge: Backtested Earnings Trade Ideas
Platform Updates

Earnings Edge: Backtested Earnings Trade Ideas

Earnings Edges gives traders a math-based approach to find backtested opportunities based on historical price action post-earning.
0DTE Oracle: Find and Backtest 0DTE Options Trades
Platform Updates

0DTE Oracle: Find and Backtest 0DTE Options Trades

0DTE Oracle is a new tool that helps us find and analyze 0DTE and next day trading opportunities.
Integrate TradingView Indicators and Alerts with Option Alpha
Strategic Thinking

Integrate TradingView Indicators and Alerts with Option Alpha

Webhooks allow us to connect our Option Alpha account with TradingView alerts to automatically trigger an automation using custom indicators.
Use Zapier to Trigger Email-Based Trading Signals (and more) in Option Alpha
Strategic Thinking

Use Zapier to Trigger Email-Based Trading Signals (and more) in Option Alpha

Use webhooks to connect your Option Alpha account to your email service to automatically trigger automations using email-based trading alerts.
Webhooks: Integrate Option Alpha with External Platforms
Company News

Webhooks: Integrate Option Alpha with External Platforms

Webhooks allow us to connect our Option Alpha bots to external platforms and trigger automations using custom trading signals, technical indicators, email alerts, and more.
What’s New in Option Alpha: May 2024
Company News

What’s New in Option Alpha: May 2024

May's release features a major update to the tickers screen, including future price projections, key data for option expirations, a new interactive payoff diagram, enhanced earnings stats, and more.
Apple (AAPL) Earnings Report: Date & Expectations
Strategic Thinking

Apple (AAPL) Earnings Report: Date & Expectations

AAPL reports earnings Thursday, May 2nd. Analysts estimate AAPL will beat expectations with earnings growth of $1.40 EPS on $84.12b revenue.
Amazon (AMZN) Earnings Report: Date, Expectations, & History
Strategic Thinking

Amazon (AMZN) Earnings Report: Date, Expectations, & History

AMZN reports earnings Tuesday, April 30th, after the market closes. Analysts estimate earnings growth with $0.83 EPS on $142.48b revenue.
Tesla (TSLA) Earnings Report: Date, Expectations, & Trade Ideas
Strategic Thinking

Tesla (TSLA) Earnings Report: Date, Expectations, & Trade Ideas

TSLA reports earnings Tuesday, July 23rd, after the market closes. Analysts estimate earnings growth with $0.60 EPS on $24.19b revenue.
What’s New in Option Alpha: April 2024
Company News

What’s New in Option Alpha: April 2024

April's release includes Scanner updates, new Trade Idea filters, an upgraded event calendar, improved bot watchlist filters, bot groups, new decisions, and more.
Bank Stocks Q1 Earnings Preview: Dates, Projections, Historical Results, & Post-Earnings Performance
Strategic Thinking

Bank Stocks Q1 Earnings Preview: Dates, Projections, Historical Results, & Post-Earnings Performance

Analyst projections for 8 major bank stocks reporting Q1 earnings this week, plus key stats and historical performance from the last five years announcements.
Delta Airlines, Inc. (DAL) Earnings
Strategic Thinking

Delta Airlines, Inc. (DAL) Earnings

DAL reports earnings Wednesday, April 10th, before market open. Analysts estimate earnings growth with $0.35 EPS on $12.94b revenue.
NCAA March Madness Bracket vs Options Trading
Strategic Thinking

NCAA March Madness Bracket vs Options Trading

The Final Four kicks off this weekend, so we took a data-driven look at the NCAA March Madness bracket and options trading to uncover what has higher EV.
New Decision to Evaluate Position's Breakeven Price
Platform Updates

New Decision to Evaluate Position's Breakeven Price

We've released a brand new decision to compare a position's breakeven price to the underlying symbol's current price.
Update Cloned Bots to Latest Template Version
Platform Updates

Update Cloned Bots to Latest Template Version

The newest platform release makes it much easier to update our cloned bots to the newest template version inside the bot's settings.
Use Tagged Symbols to Find Trade Ideas
Platform Updates

Use Tagged Symbols to Find Trade Ideas

The new 'Tagged Symbols' input enables us to loop through our tagged symbols inside an automation and link the input to a Find Trade Idea action.
What’s New in Option Alpha: March 2024
Company News

What’s New in Option Alpha: March 2024

The newest platform release features OA Labs with earnings stats and price forecasting, plus new decision recipes, bot updates and more.
Beta Weight, Beta Exposure, and Total Delta Bot Decisions for Improved Portfolio Management
Platform Updates

Beta Weight, Beta Exposure, and Total Delta Bot Decisions for Improved Portfolio Management

Evaluate your bot position's aggregate beta weight, beta exposure, and total delta in real-time with new decisions that improve automated portfolio management.
What’s New in Option Alpha: February 2024
Company News

What’s New in Option Alpha: February 2024

The new platform release includes personalized and shareable watchlists, custom bot symbols, bot decision stats, conditional automation actions, new scanner scheduling options, updated UI, and more.
Bot Symbols and Custom Shareable Watchlists
Platform Updates

Bot Symbols and Custom Shareable Watchlists

Create and share multiple custom watchlists that can be used throughout the platform, including in Bot Symbols. With Bot Symbols, bots sort and filter the selected watchlist automatically before every scan to produce a list of symbols.
Schedule Scanner Automations for Improved Efficiency and Control
Platform Updates

Schedule Scanner Automations for Improved Efficiency and Control

A new setting enables traders to schedule scanner automations on specific days and times for increased control when running bots.
Super Bowl Betting Odds vs. Options Trading
Strategic Thinking

Super Bowl Betting Odds vs. Options Trading

We use Super Bowl LVIII betting odds and historical results to highlight the similarities between sports betting and options trading.
Supercharge Your Bots for More Power, Symbols, & Positions
Platform Updates

Supercharge Your Bots for More Power, Symbols, & Positions

Supercharge your bots to scan a 25 ticker custom watchlist, manage 25 positions automatically, and run continuous automations so you never miss an opportunity.
Toggle Switches from the Bot Inputs Window
Platform Updates

Toggle Switches from the Bot Inputs Window

You can now toggle your automation switches directly from the bot inputs window in your bot's settings. Quickly and easily turn your switches on and off with one click.
Reset Tags & Symbols from the Bot Dashboard
Platform Updates

Reset Tags & Symbols from the Bot Dashboard

It's now incredibly easy and efficient to quickly reset your bot's symbols and tags directly in the bot dashboard.
New Decisions to Check Position Moneyness
Platform Updates

New Decisions to Check Position Moneyness

Three new decision actions give you the power to check your position's moneyness -- and by how much it's in or out of the money -- inside any automation.
Beta Weighting Bots & Positions for Advanced Portfolio Insights
Platform Updates

Beta Weighting Bots & Positions for Advanced Portfolio Insights

Use beta weighting for your bots and positions to give you a powerful new way to manage your options portfolio inside Option Alpha.
Beta Weighting Decision Recipes for Automated Portfolio Management
Platform Updates

Beta Weighting Decision Recipes for Automated Portfolio Management

Two new decision recipes enable traders to check bot and position beta weight for dynamic portfolio management.
Beta Weighting Now Available in Trade Ideas
Platform Updates

Beta Weighting Now Available in Trade Ideas

Trade Ideas now includes sortable columns for a position's beta and delta, as well as a beta weight metric that shows how the position will impact your portfolio.
New Bot Archive to Save and Restore Bots
Platform Updates

New Bot Archive to Save and Restore Bots

The new bot archive function lets you keep bots in your autotrading portfolio and restore them, including all their position history and automations.
Maximum Exit Option Attempts Setting for Retail Options Traders
Platform Updates

Maximum Exit Option Attempts Setting for Retail Options Traders

A new setting lets you control how many Exit Option order attempts can be sent to your broker in a day, to help avoid being labeled as a professional trader.
New Trade Ideas Action for Automated Debit Spreads
Platform Updates

New Trade Ideas Action for Automated Debit Spreads

Trade Ideas action now includes debit spreads to automate long call spreads and long put spreads inside your bots.
Debit Spreads Added to Trade Ideas
Platform Updates

Debit Spreads Added to Trade Ideas

Option Alpha's Trade Ideas now includes debit spreads to give options traders thousands of more trading opportunities when looking for positions.
Santa Claus Rally: The Stock Market’s December Effect
Strategic Thinking

Santa Claus Rally: The Stock Market’s December Effect

We analyze the stock market's historical December returns, examine the factors that influence prices at the end of the year, and look ahead at the 2024 stock market outlook.
United Petition to CBOE to Lower SPX Option Minimum Bid Increments
Company News

United Petition to CBOE to Lower SPX Option Minimum Bid Increments

Join the options trading community in advocating for a change in the minimum SPX options bid increments from $0.05 to $0.01.
Partial Closes and Ability to Close Short Legs
Platform Updates

Partial Closes and Ability to Close Short Legs

Manual position closing now includes the ability to exit only the short legs of spreads and partially close multi-contract positions for increased trade management.
Customizable Columns Added to All Table Views
Platform Updates

Customizable Columns Added to All Table Views

You can now customize your Trade Ideas, Bots, Positions and Screener columns to display the key information you want to see.
New Position Screen Improvements
Platform Updates

New Position Screen Improvements

The open and closed position pages have been updated to display more of the essential details traders want to see. Plus, the stock's last price is now colorized to quickly show a position's moneyness.
Compare Position Properties for Expanded Trade Management
Platform Updates

Compare Position Properties for Expanded Trade Management

A new decision recipe allows traders to compare key position stats such as EV, Alpha, and more to give you more control of position management.
Congrats on $1 Billion in Live Trades
Company News

Congrats on $1 Billion in Live Trades

We’re pleased to announce that together we have crossed a huge milestone in live options trades.
How to Calculate Expected Value: Simple EV, Simple-Partial EV, and Real EV
Research Insights

How to Calculate Expected Value: Simple EV, Simple-Partial EV, and Real EV

We share the three EV calculations you can use with the information available in any brokerage platform and compare the methods to determine their accuracy.
Option Alpha is now Free with a Qualifying TradeStation Account
Company News

Option Alpha is now Free with a Qualifying TradeStation Account

Option Alpha traders are eligible for a free Pro+ account when you connect a qualified TradeStation account.
Trade Ideas Probability & Performance: Expected Value vs. Realized P/L
Research Insights

Trade Ideas Probability & Performance: Expected Value vs. Realized P/L

We analyzed 130k Trade Ideas positions to visually compare each trade's realized P/L to its Expected Value at trade entry.
0DTE Options: Strategy Insights from the Top Performing Trades
Research Insights

0DTE Options: Strategy Insights from the Top Performing Trades

We analyzed 230k 0DTE options trades to determine what successful Option Alpha traders are doing and the key metrics that influenced profitable strategy setups.
Save Your Favorite Position Settings with Trade Ideas Presets
Platform Updates

Save Your Favorite Position Settings with Trade Ideas Presets

Trade Ideas ‘Presets’ lets you save one or more filters to quickly view all potential trading opportunities with your favorite settings.
Visually Analyze Your Trading Results on Option Alpha
Platform Updates

Visually Analyze Your Trading Results on Option Alpha

Analyze your trading performance and filter live or paper results by strategy type, ticker symbol, account, bot, and tags for in-depth portfolio analysis.
New Event Calendar Integrates Earnings, Ex-Dividend Dates, & Market Events
Platform Updates

New Event Calendar Integrates Earnings, Ex-Dividend Dates, & Market Events

A new calendar displays key dates and market events to give you all the essential information you need before entering a trade.
Export & Download Bot Position History Data
Platform Updates

Export & Download Bot Position History Data

Export your bot data to easily analyze and compare closed position performance history.
Use Top Strategies to Find Option Trading Setups
Platform Updates

Use Top Strategies to Find Option Trading Setups

Top Strategies makes it easier than ever to find the best-performing option trading setups using historical data from the Option Alpha community.
Upgraded Open Position Screen Includes EV, Alpha, & Probabilities
Platform Updates

Upgraded Open Position Screen Includes EV, Alpha, & Probabilities

We've enhanced the Open Position screen to include Expected Value (EV), Alpha, and more probabilities.
New Leaderboard featuring the Top Performing Bots
Platform Updates

New Leaderboard featuring the Top Performing Bots

There's a new leaderboard that tracks the top performing bots shared in the Option Alpha community to help you discover new ideas and strategies.
Move Positions Between Bots for Portfolio Flexibility
Platform Updates

Move Positions Between Bots for Portfolio Flexibility

You can now move positions between any two bots that are connected to the same Option Alpha account so you can manage your portfolio with more control and flexibility.
Find Better Trade Ideas (2.0)
Platform Updates

Find Better Trade Ideas (2.0)

Trade Ideas 2.0 revolutionizes the way you find potential trading opportunities using math and probabilities. Plus, you can now autotrade using Trade Ideas.
Expanded Exit Options Now Include EV and Alpha
Platform Updates

Expanded Exit Options Now Include EV and Alpha

With the addition of EV and Alpha, we've expanded Exit Option so you now have more ways to manage your positions.
Find Trade Ideas for Multiple Symbols
Platform Updates

Find Trade Ideas for Multiple Symbols

Let you bots scan a list of ticker symbols and find the best trade idea across up to 10 different symbols.
Bot Notes Now Available
Platform Updates

Bot Notes Now Available

You can now add notes to any bot to include ideas, updated versions, data, research, links, images, and more. Stay organized and track your strategy insights.
Open Trade Idea Action Added to Automations
Platform Updates

Open Trade Idea Action Added to Automations

Use Trade Ideas to analyze the entire database of potential trades and sort, rank, and autotrade the best available position based on your defined criteria.
New, Streamlined Way to Filter Trading Opportunities
Platform Updates

New, Streamlined Way to Filter Trading Opportunities

Using pre-trade opportunity filters is always a best practice. This update gives you an easier format to add entry and position criteria for more efficiency and reduced friction in your automations.
New Probability & Symbol Filters Added to Trade Ideas
Platform Updates

New Probability & Symbol Filters Added to Trade Ideas

Trade Ideas now include additional probability and symbol filters to help you customize your search criteria to find exactly what you're looking for.
Expanded SmartPricing Settings to Control Slippage
Platform Updates

Expanded SmartPricing Settings to Control Slippage

New SmartPricing settings empower you to combat wide bid/ask spreads and abnormal price fluctuations.
New FOMC Meeting & CPI Decision Recipe
Platform Updates

New FOMC Meeting & CPI Decision Recipe

Two new decision recipes give you added control when targeting specific dates, including FOMC meetings and CPI releases.
New, More Intuitive Automation Editor
Platform Updates

New, More Intuitive Automation Editor

Say hello to a more intuitive, easier to use automation editor with color coded actions and collapsible decision blocks.
1-Min Trailing Stops Added to Exit Options
Platform Updates

1-Min Trailing Stops Added to Exit Options

Exit options now include trailing stops for the most advanced automated position management available.
VXX & UVXY Now Available for Autotrading
Platform Updates

VXX & UVXY Now Available for Autotrading

VXX and UVXY are now available for autotrading. These volatility ETFs provide exposure to the VIX short-term futures index.
New Post-Earnings Decisions
Platform Updates

New Post-Earnings Decisions

The latest update includes two new decision recipes for targeting past earnings dates.
Expanded Bot Performance Stats & Win Rate Charting
Platform Updates

Expanded Bot Performance Stats & Win Rate Charting

The January 2023 platform release includes new stats and charts to give you upgraded visual tools when monitoring your bots’ activity and key metrics.
Introducing In-App Help Docs
Platform Updates

Introducing In-App Help Docs

In-app help docs and the new 'Get Started' checklist will guide you around Option Alpha to find everything you need to know as an autotrader.
Exit Options Now Support Customizable SmartPricing
Platform Updates

Exit Options Now Support Customizable SmartPricing

The latest upgrade to Exit Options now supports custom SmartPricing settings for each scenario, plus we added the ability to send Market Orders if you choose.
Exit Options "Presets" Means Faster Trade Entry
Platform Updates

Exit Options "Presets" Means Faster Trade Entry

Create Presets for your Exit Options to quickly reuse custom settings for long and short option positions.
Say Hello to Trade Ideas, Our Newest Tool for Options Traders
Platform Updates

Say Hello to Trade Ideas, Our Newest Tool for Options Traders

Trade Ideas calculate probabilities for millions of potential options positions using live market data so you can make smarter trades.
Option Alpha January 2023 Release
Company News

Option Alpha January 2023 Release

The first major platform release of the year is here! Check out all the updates, including the all-new Trade Ideas.
Option Alpha is Free with a Qualifying Tradier Brokerage Account
Company News

Option Alpha is Free with a Qualifying Tradier Brokerage Account

Learn how you can get a free Option Alpha Pro+ account when connecting your qualified Tradier Brokerage account.
Trading the Opening Range: Mean Reversion vs Trend Following
Research Insights

Trading the Opening Range: Mean Reversion vs Trend Following

How has market volatility impacted intraday mean reversion and trend following strategies? We analyzed the first trading hour in SPY to understand intraday mean reversion vs. trend following signals.
Faster Position Management with 1-minute Auto-Exit Options
Platform Updates

Faster Position Management with 1-minute Auto-Exit Options

Introducing faster position management! Pre-set your exit options when opening a position and let automation manage your position every minute.
Manual Trading Reimagined and Easily Connected to Auto-Management
Platform Updates

Manual Trading Reimagined and Easily Connected to Auto-Management

Manual trading is getting a huge upgrade. We reimagined the user experience of manual trading to solve problems and simplify your life.
Upgraded Bot Logs Add "Highlights" & Quicklinks to Positions
Platform Updates

Upgraded Bot Logs Add "Highlights" & Quicklinks to Positions

New, interconnected bot logs show you exactly what's happening in your bots and automations. Right where you need them.
Introducing Interactive, Real-Time Options Payoff Diagrams
Platform Updates

Introducing Interactive, Real-Time Options Payoff Diagrams

Every position now includes an interactive real-time option payoff diagram that uses live pricing to update key metrics and probabilities, so there's no guesswork on your position's current status.
Backtest Technical Indicators
Platform Updates

Backtest Technical Indicators

The 0DTE backtester includes technical indicators so we can use multiple entry criteria when researching historical option strategy performance.
Introducing $0 Commission Free* Trading with Option Alpha and TradeStation
Company News

Introducing $0 Commission Free* Trading with Option Alpha and TradeStation

Announcing $0 commission-free trading for Option Alpha members using TradeStation in the autotrading platform.
Introducing $0 Commission Free* Trading with Option Alpha and Tradier
Company News

Introducing $0 Commission Free* Trading with Option Alpha and Tradier

Option Alpha announces $0 commission-free trading through our exclusive agreement with Tradier Brokerage.
How To Manage Assigned Autotrading Positions
Automated Trading

How To Manage Assigned Autotrading Positions

A step-by-step guide to help you manage position assignments with bots.
0DTE Options Strategies: Insights from 25k Trades
Research Insights

0DTE Options Strategies: Insights from 25k Trades

We analyzed over 25,000 0DTE option positions traded in the autotrading platform to assess what worked and how traders set up short-term trading strategies.
Options Wheel Strategy
Strategic Thinking

Options Wheel Strategy

The wheel strategy is a popular options strategy investors can use to generate income selling options and potentially owning stock. Learn how to trade the options wheel strategy.
How to Automate a MACD Strategy with Bots
Bot Inspiration

How to Automate a MACD Strategy with Bots

Learn how to automate a strategy that sells credit spreads when the MACD indicator signals an overbought or oversold condition.
New Open High Low Close (OHLC) Stock Decisions
Platform Updates

New Open High Low Close (OHLC) Stock Decisions

Unlock new autotrading opportunities with these two decision recipes that evaluate a symbol's open, high, low, or closing price using a specific look-back period.
Introducing the Bot Wizard
Platform Updates

Introducing the Bot Wizard

Creating a bot has never been easier! The new bot wizard helps you go from idea to automated strategy in a few simple steps.
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Find an edge backtesting 0DTE and next day strategies using 1 minute data then leverage automation to execute your strategy better than humanly possible.
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