---
title: "How To Create A Strangles Bot"
description: "A Step-by-Step Guide to Automating Your Strangles Trades"
url: https://help.optionsautotrader.com/en/articles/55-how-to-create-a-strangles-bot
collection: "Custom Options Bots 101"
updated: 2026-04-14
language: en
---

# How To Create A Strangles Bot

A Step-by-Step Guide to Automating Your Strangles Trades

This guide will walk you through the process of creating a Strangles AutoTrader, covering everything from setting up your asset and strategy to configuring entry and exit rules. You’ll learn how to define quantities for selling or buying a Strangle, select strike prices, adjust entry frequency, allocate buying power, and set up exit conditions.

## **Step 1: Go to the Dashboard**

-   Start by clicking on the **Dashboard**.
    

## **Step 2: Create a New AutoTrader**

-   On the dashboard, click on the **Create an AutoTrader** button.
    

## **Step 3: Select Strangles**

-   After clicking the button, choose **Strangles** from the options.
    

## **Step 4: Pick Your Asset**

-   Select the **asset** (the underlying stock or option) you want to trade the Strangle on.
    

## **Step 5: Set Expiration and Strategy**

-   Choose your **days until expiration**.
    
-   Decide whether you are going **long** or **short** the Strangle.
    

## **Step 6: Define the Quantity**

-   For **selling a Strangle** (default), set both the **put** and **call** quantities to negative numbers (e.g., -1 for one Strangle).
    
-   For **buying a Strangle**, set both the quantities to positive numbers (e.g., +1 for one Strangle).
    

## **Step 7: Pick Strikes**

Choose the **strike prices** based on either:

-   **Delta amount**,
    
-   **Out of the money percentage**,
    
-   Or a **target price**, depending on your preference.
    

## **Step 8: Set Entry Frequency**

Define how often you want the bot to enter the trade:

-   Once a week,
    
-   On specific days,
    
-   At specific times.
    
-   There are also **advanced entry settings** available, such as using an indicator with the TradingView integration.
    

## **Step 9: Save and Continue**

-   After configuring the entry settings, click on **Save and Continue**.
    

## **Step 10: Set Exit Rules**

Configure your **exit rules**:

-   **Take profit**,
    
-   **Stop loss**,
    
-   **Early management** (to close trades early).
    
-   There are also **advanced exit rules** for more customization.
    

## **Step 11: Save and Continue**

-   Click on **Save and Continue** after setting up your exit rules.
    

## **Step 12: Choose Buying Power Allocation**

Define how much **buying power** the bot can use across your open trades. For example, if each trade costs $500 and you want 5 trades open at once, allocate $2,500. If only 1 trade is needed, allocate $500.

## **Step 13: Review the Summary**

A summary of your settings will appear, ensuring everything is configured correctly. Review to make sure all details are accurate.

## **Step 14: Authorize and Save**

If everything looks good, click **Authorize**, then click **Save Auto Traders** to finalize your Strangles AutoTrader setup.  

**TERMS OF SERVICE:** Please be aware that continued use of the Options Auto Trader is subject to our [Terms Of Service](https://www.optionsautotrader.com/terms-of-service). If you have any questions or wish to review these terms, feel free to visit the website.