adminMy goals of this project are to create an Excel spreadsheet that I can use to copy and paste my two butterfly (ATM and OTM) trades onto Think or Swim.
If things go smoothly and the trade shows consistent profits, I may want to expand its functionality to exit the trades as well.
Butterfly ATM Trade:
This is an AT THE MONEY Butterfly trade using either SPX or NDX.
The trade entry will include the initial butterfly as well four adjustment trades (two on BOTH side of the short position) as a First Triggers All advanced trade with conditional triggers based on price for adjustments.
The first adjustment trigger on both sides of the shorts will be defined by the equation (Short strike price +/- (Wing Spread-debit paid/2) which will result in rolling out that wing X number of days based on settings.
The second adjustment trigger on both sides will be defined by the equation (Short strike value +/- (Wing Spread-debit paid) which will result in adding a Calendar Y points out from the trigger based on settings.
All adjustments will be GTC vs Day and Mark + (as per settings)
There will need to be a settings page and an entry page.
The Settings page will include inputs that would include…
Instrument Time in Force Wing Width Exchange # of Butterflies Rollout expiration days Mark limit price +
Back month days to Expiration (for Calendar) Rollout days to expiration # of Calendars Points out from trigger to place Calendars
The Entry page will include…
Option chain including Ask/Mid/Bid prices on Calls and Puts Button to refresh TOS Clipboard Button to Enter ATM BF Trade
Button to Enter OTM Put Trade Button to Enter OTM Call Trade
Process: For the ATM BF trade, once the settings are in place, I will click on the option chain at the price I want to set my short positions and then click on Enter ATM BF Trade button followed by pressing the Paste Order from Clipboard button on TOS. This will put my BF entry as well as all four adjustments with their triggers (based on conditional triggers set by price) as a First Triggers All advanced order.
See pic for example. (FYI…two of the adjustments where the wings are rolled out are labeled Calendar by TOS.)
Butterfly OTM Trade:
This is an OUT OF THE MONEY Butterfly trade using either SPX or NDX that can be made up of one or two trades.
The Put BF is set below the market and the Call BF is set above the market with a wing width of 30 and entered at cost closest to 3.00 per BF without going over.
The settings page for this OTM BF will include…
Instrument Time in Force Exchange # of Butterflies
The Entry page will include:
See above
Process: For the OTM BF trade, once the settings are in place, I will click Enter ATM Put BF or Enter ATM Call BF followed by pressing the Paste Order from Clipboard on TOS.
This trade is only for an initial entry and includes no adjustments.
Please respond with an estimate on the cost and time the project will take to complete.
Thank you,
Steven
Hourly Range: $20.00-$100.00
Posted On: July 06, 2024 23:47 UTC
Category: Scripting & Automation
Skills:Microsoft Excel
Country: United States
click to apply
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