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.
Start by clicking on the Dashboard page.
Click on the Create an Auto Trader button.
From the options, select Naked Calls.
Choose the symbol you want to trade.
Choose the expiration time (e.g., 0 days to any desired expiration period).
Set the strike price based on options like Delta, out-of-the-money, dollar amount, percentage, or target option price.
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.
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.
Define when you want to exit the trade:
Set rules for take profit, stop loss, and early management (e.g., closing the trade early).
Customize other advanced settings if necessary.
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.
Click Save and Continue to review all the settings and ensure they align with your preferences.
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.
