one of the really cool things that you can do with your bots and automations at Option Alpha is you can monitor your position deltas automatically. And inside this video, I want to show you how you can set this up and start using this inside of your monitor automations.

So, let's assume here that you have some short call spreads that you want to monitor. And you want to monitor the delta of any short call spread position that your bot has.

We'll start this monitor automation with a simple position loop that's looping through each short call spread position that we have. Then we want to click the plus icon here to have the bot make another decision, and we want the bot to make a decision based on the position's delta value.

So, we're going to go down to our position recipes here, and we're going to select the recipe here that can specify exactly the leg that we want to check and the property of that leg that we want to monitor for making decisions and taking other actions inside our bot.

Now, this particular recipe is a really powerful recipe because it allows you to specify, again, the legs, but also has a ton of leg properties that you can reference inside of your bots.

First thing that we're going to do is we're going to connect the position input to whatever position the bot is currently looping through. Next, we're going to specify exactly what leg we want to monitor. In this case, we want to monitor the short call leg of whatever position that we're looping through.

Because we're trading short call spreads in this demo example, we want to specifically tell this automation to look at the positions short call leg. You can change this up for any other types of positions that you trade, like short put spreads or long call spreads, iron condors, iron butterflies, anything, inside of the Option Alpha platform.

Next, we want to go over to the property field. Now here, you can see that the short leg delta is already chosen as the default. But notice all of the other leg properties that we can monitor as well inside of our bots.

We can check and see of the chance of being in the money for particular leg, or the change in price, or the extrinsic value or intrinsic value, that open interest, the volume, the open price, the vega, the high price, low price, mark price. There's so many different leg properties that we can check to monitor our positions inside of our bot.

But in this case, we're going to go ahead and leave it at the default for the delta. Next, we want to use our select there to check and see if the delta is greater than, less than, or equal to some value that we put in.

And here what we're going to do is we're going to check and see if the delta on our short call leg is greater than .5. If the delta on our short call leg is greater than .5, that really probably means that we're being challenged on the position, and the position has started to go in the money.

So if that delta value is greater than 0.50, then we might want to take some sort of action. In this case, we could do something down the yes path like close the position if we wanted to, open a new position, send ourselves a notification, we can do whatever we want inside of our automations.

Again, the key here is that we can monitor positions automatically using the bots to check individual leg properties. And any time we want, we can go in and modify any of these properties, select the different property, or change any of the modifiers or values in here to whatever values are appropriate for us in our trading strategy.

All we have to do is simply make those changes and then simply save them to our automation editor. Again, this is a really cool way to monitor exact leg properties and characteristics of whatever you're trading completely automated and without friction inside of your bots.