Thinkscript Strategy
Budget: $10 – $30 USD
If the previous day's closing price is more than than the opening price, execute a 0-DTE vertical put spread (VPS) with a premium of $1.20 else go to the next condition. For the VPS, set the sell price to be 5 points below the previous day's closing price and the buy price to be 10 points lower. The trade should be closed automatically when it reaches a profit of 150% or a loss of 200%. Initiate this trade, within the first 10 minutes of the trading day.
On the other hand, if the previous day's opening price is higher than the closing price, initiate a 0-DTE vertical call spread (VCS) with a premium of $1.50. For the VCS, set the sell price to be 5 points above the previous day's closing price and the buy price to be 10 points higher. The trade should be closed automatically when it reaches a profit of 150% or a loss of 200%. Similar to the VPS, the initial trade for the VCS should take place within the first 10 minutes of the trading day.
On the other hand, if the previous day's opening price is higher than the closing price, initiate a 0-DTE vertical call spread (VCS) with a premium of $1.50. For the VCS, set the sell price to be 5 points above the previous day's closing price and the buy price to be 10 points higher. The trade should be closed automatically when it reaches a profit of 150% or a loss of 200%. Similar to the VPS, the initial trade for the VCS should take place within the first 10 minutes of the trading day.