Advanced TOS Trading Strategy
Budget: $30 – $250 USD
I'm seeking a skilled developer to create a high-quality backtest code for a trading strategy on the Thinkorswim platform, leveraging ThinkScript. yes again, I need a reliable programmer to program a backtest code in thinkscript to run on thinkorswim platform, kindly read below strategy and let me know if you can code exactly using thinkscript and make it works perfectly for thinkorswim.
Cover Call backtest strategy
On thinkorswim platform
Essentially, this is a calendar call: buying a longer-term option and selling a shorter-term option to start out. Then as the short option nears expiration, roll it to the next period. The long option could also be rolled to maintain adequate protection. Income is generated as theta decays on the short option.
Action:
1. Buy a calendar call for ticker SPX (user input) at the beginning, date and time are user input.. This consists of 2 legs:
a. Buying a six-months (user input) call with delta 90 (user input). Sometimes delta 90 is not available, then choose the next closest delta. If both higher and lower deltas are equal distance (e.g., 91 and 89), choose the higher delta, and
b. At the same time, selling a shorter term (user input) call with delta 50 (user input). Sometimes delta 50 is not available, then choose the next closest delta. If both higher and lower deltas are equal distance, (e.g, 49 and 51), choose the lower delta.
2. At 3pm EST (user input) on the day of expiration of the shorter term call, roll i.e., buy back the shorter term call and sell a new shorter term of the next available expiration with delta 50 (user input). The longer term call should also be rolled, same expiration, to maintain a 90 delta, if necessary.
3. Repeat step 2 every day, week, or month (user input) until the end of the backtest period (user input).
4. Generate a report showing a transaction log with results and export to a csv file.
This project provides an opportunity to apply technical and trading knowledge to develop a sophisticated strategy script. The goal is to create a tool that can accurately backtest specified conditions and help in making informed trading decisions. If you possess the required skills and are passionate about trading and coding, I look forward to your proposal.
Only reach out if you are a proficient coder and a skilled thinkscript programmer, hoping to get this soft out so quickly
Cover Call backtest strategy
On thinkorswim platform
Essentially, this is a calendar call: buying a longer-term option and selling a shorter-term option to start out. Then as the short option nears expiration, roll it to the next period. The long option could also be rolled to maintain adequate protection. Income is generated as theta decays on the short option.
Action:
1. Buy a calendar call for ticker SPX (user input) at the beginning, date and time are user input.. This consists of 2 legs:
a. Buying a six-months (user input) call with delta 90 (user input). Sometimes delta 90 is not available, then choose the next closest delta. If both higher and lower deltas are equal distance (e.g., 91 and 89), choose the higher delta, and
b. At the same time, selling a shorter term (user input) call with delta 50 (user input). Sometimes delta 50 is not available, then choose the next closest delta. If both higher and lower deltas are equal distance, (e.g, 49 and 51), choose the lower delta.
2. At 3pm EST (user input) on the day of expiration of the shorter term call, roll i.e., buy back the shorter term call and sell a new shorter term of the next available expiration with delta 50 (user input). The longer term call should also be rolled, same expiration, to maintain a 90 delta, if necessary.
3. Repeat step 2 every day, week, or month (user input) until the end of the backtest period (user input).
4. Generate a report showing a transaction log with results and export to a csv file.
This project provides an opportunity to apply technical and trading knowledge to develop a sophisticated strategy script. The goal is to create a tool that can accurately backtest specified conditions and help in making informed trading decisions. If you possess the required skills and are passionate about trading and coding, I look forward to your proposal.
Only reach out if you are a proficient coder and a skilled thinkscript programmer, hoping to get this soft out so quickly
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Algorithm
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