I have an IB account and looking at switching to PRT to be able to automate options strategies. However, reading everywhere, I cant find the information of whether an automated options trade (vertical call or put spread) can be programmed based of the price. If someone can give an indication that this is possible, I can start to dig more.
(Theoretical) Example: Assume underlying instrument SPX or AAPL. If on hourly chart, RSI(8) on the instrument is >30 and <70 (some technical indicator based on instrument price), then SELL both call and put vertical spread (Iron Condor) with short legs at roughly delta 80 using weekly option expiring the next Friday at least 5 days away. If the instrument moves 2*ATR(8), from entry price, close the vertical spread side not under pressure.
The above example strategy is just for discussion to understand if:
- One can enter/monitor/exit weekly option trades of the instrument data feed
- Can (programmatically) look up specific option chains (or do I have to pre-specify exact option contracts)
- Can enter/exit complex vertical spread trades (long and short option trade done together)
- Can do this on both SPX index and stock weekly options (for example: AAPL)
If I know that this is possible, I can massively invest time/resources to program any such strategy.
Regards, Brian
PS: Can’t find a search button anywhere in this forum!
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