Automating Options Trades with Dynamic Expirations in TradersPost

TradersPost allows for precise automation of options trades using various methods for selecting contracts, including relative dates like +7 days or specifying exact contract symbols. This guide explains how to configure options trades dynamically while adhering to TradersPost’s supported features.

Supported Methods for Configuring Options Trades

1. Specify the Exact Contract Symbol

If you know the specific options contract you wish to trade, you can directly provide the full ticker symbol.

Example:

For an AAPL call option expiring on January 20, 2023, with a $325 strike price:

{
   "ticker": "AAPL 230120C325",
   "action": "buy"
}


Pros:

• Absolute control over the contract traded.
• Ideal for strategies with predefined contract details.

Cons:

• Requires manual updates for each new expiration or strike price.

2. Use Relative Expiration Dates

For flexibility, use relative dates in the "expiration" field to dynamically select contracts.

Example:

{
   "ticker": "AAPL",
   "action": "buy",
   "optionType": "call",
   "expiration": "+7 days",
   "strikePrice": 325
}


Supported Formats for Expiration:

• +7 days: Selects contracts expiring 7 days from the signal date.
• +6 months: Targets contracts expiring 6 months from the signal date.
• Specific Date: Use exact dates like "2024-12-15" for precision.

3. Dynamic Filters for Option Chain Scanning

Combine multiple filters to dynamically select contracts that meet your criteria.

Example:

Buy a call option that is:

• In-the-money (ITM).
• Expiring 6 months from the signal date.
• The third strike away from at-the-money (ATM).

{
   "ticker": "AAPL",
   "action": "buy",
   "expiration": "+6 months",
   "intrinsicValue": "itm",
   "optionType": "call",
   "strikesAway": 3
}


Key Filters:

• intrinsicValue: Filter for ITM, ATM, or OTM contracts.
• strikesAway: Choose strikes relative to ATM.
• optionType: Specify calls, puts, or both.

Steps to Automate Options Trades

1. Configure Strategy Subscription
   • Define asset class as "Options."
   • Select option type (call, put, or both).
2. Set Expiration Rules
   • Use relative dates like +7 days for recurring trades.
   • Specify additional filters for intrinsic value or strikes away.
3. Send Webhook Signals
   • Ensure signals include the necessary JSON payload with the above configurations.

Conclusion

TradersPost provides robust tools for automating options trading, whether you prefer exact contracts or dynamic filters. By using relative dates like +7 days or combining multiple parameters, you can create adaptable strategies that adjust to market conditions seamlessly.