This guide will walk you through the process of creating a Naked Call Auto Trader bot. You can expect to see steps for selecting symbols, setting expiration dates, choosing strike prices, and determining whether to buy or sell a call option. The guide also covers defining trade entry and exit conditions, managing your bot's buying power, and reviewing settings before finalizing your Auto Trader.
Step 1: Access the Dashboard
Start by clicking on the Dashboard page.
Step 2: Create an Auto Trader
Click on the Create an Auto Trader button.
Step 3: Select Naked Calls
From the options, select Naked Calls.
Step 4: Pick the Symbol
Choose the symbol you want to trade.
Step 5: Set Days Until Expiration
Choose the expiration time (e.g., 0 days to any desired expiration period).
Step 6: Choose Strike Price
Set the strike price based on options like Delta, out-of-the-money, dollar amount, percentage, or target option price.
Step 7: Set the Position (Buy or Sell)
Choose whether you want to sell or buy the call:
Negative Delta (e.g., -1) means selling the call (e.g., covered call strategy).
Positive Delta (e.g., +1) means buying the call to take advantage of upward movement.
Step 8: Define Trade Entry Frequency
Set how often you want to enter the trade:
Choose a specific day (e.g., once a week), session, or time.
Optionally, integrate TradingView indicators for more specific entry rules.
Step 9: Set Exit Conditions
Define when you want to exit the trade:
Set rules for take profit, stop loss, and early management (e.g., closing the trade early).
Step 10: Manage Advanced Settings (Optional)
Customize other advanced settings if necessary.
Step 11: Define Buying Power Allocation
Set how much money the bot is allowed to trade with:
For example, if each trade requires $500 and you plan to handle 5 trades, allocate at least $2,500 to the bot.
Step 12: Review Settings
Click Save and Continue to review all the settings and ensure they align with your preferences.
Step 13: Authorize and Save
If everything looks good, click Authorize to confirm the settings and then click Save to finalize the Auto Trader.
TERMS OF SERVICE: Please be aware that continued use of the Options Auto Trader is subject to our Terms Of Service. If you have any questions or wish to review these terms, feel free to visit the website.