The autotrading platform enables you to estimate probabilities before sending an order to your broker. Use bots to quickly estimate the probability of an option being in-the-money at expiration.
The loop symbols action can scan through multiple tickers when filtering opportunities. In a scanner automation, you can use this decision recipe to evaluate opportunity probabilities, such as profit, loss, and moneyness.
When filtering opportunities, you can use an open position action to build out the position specifications and precede the action with a decision recipe. The bot can then reference that particular position when referencing probabilities.
For example, you can have the bot check if a potential trading opportunity has a 60% probability of being in-the-money at expiration.
You can always test the automation in real-time using live market data to see if the bot would open a position based on your criteria.
Manually calculating probabilities is time-consuming and complex. Now you can leverage the power of bots to accomplish these complex tasks quickly and efficiently.