The % OTM method selects a strike that is a specific percentage out of the money, based on the current price of the underlying asset.
If the current price of the underlying stock is $200 and you set 10% OTM, the auto trader will select a strike that is 10% away from the current price. For a put option, this would be $180 (10% lower), and for a call option, it would be $220 (10% higher).
When to use: This method is useful if you prefer to keep your strike selection relative to the current price, regardless of market fluctuations.
