Tradingview indicator to SMS Alert for Options Trading
Budget: $250 – $750 USD
We have a TradingView indicator that has 3 combined indicators that when all 3 agree signal Buy or Sell signals for the SPY ETF. We would like this to Flag a custom SMS alert through our VOIP SMS short code provider to out clients. We are not trading stocks, we are trading options. And after the buy or sell signal is identified, data needs to be pulled from the option chain and calculate the strike price that will provide the biggest gain off of the smallest underlying stock move. This can be calculated from gathering the premium values of 15 OTM (Out of the Money ) strike prices in the direction the alert (Call for Buy signals; Put for Sell signals) with the next closest expiration date. We also gather the coinciding Delta's and divide the Deltas by the premium to get the percentage move off a $1 underlying stock move and we compare all 15 percentages and which ever one has the greatest will be sent out as an options trade alert in the proper format.
For example. SPY is currently $406.60 and we are gathering the following options data for the next closest expiration which is 9/12/22.
Lets say the indicator identifies a Sell signal (When gathering the Deltas for Put side calculations the ( - (Negative)) symbol must be disregarded and removed when doing calculations; the Delta needs remain a positive number when doing calculations)
It would gather the following options chain data and do the math for comparison
Strike Price ; Premium ; Delta ; Delta/Premium
#1 - 406 ; 1.80 ; 0.46 ; 0.255 (0.46/1.80 = 0.255)
#2 - 405 ; 1.40 ; 0.38 ; 0.271
#3 - 404 ; 1.08 ; 0.31 ; 0.287
#4 - 403 ; 0.81 ; 0.25 ; 0.308
#5 - 402 ; 0.62 ; 0.20 ; 0.322
#6 - 401 ; 0.47 ; 0.15 ; 0.319
#7 - 400 ; 0.36 ; 0.12 ; 0.333
#8 - 399 ; 0.27 ; 0.09 ; 0.333
#9 - 398 ; 0.21 ; 0.07 ; 0.333
#10 - 397 ; 0.17 ; 0.06 ; 0.352
#11 - 396 ; 0.14 ; 0.05 ; 0.359
#12 - 395 ; 0.13 ; 0.04; 0.323
#13 - 394 ; 0.11 ;0.036; 0.327
#14 - 393 ; 0.10 ;0.031; 0.31
#15 - 392 ; 0.09; 0.027; 0.30
As you can see it peaks at the #11 396 SPY Put Strike price in terms of the biggest gains off the smallest move @ 0.359 (35.9% premium move off $1 SPY move). This most profitable strike price changes places as the stock moves and expiration gets closer. When the most profitable strike is found this system should send out an SMS alert through our short code provider with the following trade alert format:
SPY $396 Put 9/12 @0.14
^ Stock Symbol | Strike Price | Contract Type | Expiration Date | Premium Cost at the Ask (not Bid)
If the TradingView indicator flagged a Buy Signal then the same calculations would be done for the 15 OTM strike Calls for 9/12. However the Delta would not need to have a ( - ) filtered before the math is done because it is a positive number.
This alert system needs to be fast. Latency could cost our traders money.
For example. SPY is currently $406.60 and we are gathering the following options data for the next closest expiration which is 9/12/22.
Lets say the indicator identifies a Sell signal (When gathering the Deltas for Put side calculations the ( - (Negative)) symbol must be disregarded and removed when doing calculations; the Delta needs remain a positive number when doing calculations)
It would gather the following options chain data and do the math for comparison
Strike Price ; Premium ; Delta ; Delta/Premium
#1 - 406 ; 1.80 ; 0.46 ; 0.255 (0.46/1.80 = 0.255)
#2 - 405 ; 1.40 ; 0.38 ; 0.271
#3 - 404 ; 1.08 ; 0.31 ; 0.287
#4 - 403 ; 0.81 ; 0.25 ; 0.308
#5 - 402 ; 0.62 ; 0.20 ; 0.322
#6 - 401 ; 0.47 ; 0.15 ; 0.319
#7 - 400 ; 0.36 ; 0.12 ; 0.333
#8 - 399 ; 0.27 ; 0.09 ; 0.333
#9 - 398 ; 0.21 ; 0.07 ; 0.333
#10 - 397 ; 0.17 ; 0.06 ; 0.352
#11 - 396 ; 0.14 ; 0.05 ; 0.359
#12 - 395 ; 0.13 ; 0.04; 0.323
#13 - 394 ; 0.11 ;0.036; 0.327
#14 - 393 ; 0.10 ;0.031; 0.31
#15 - 392 ; 0.09; 0.027; 0.30
As you can see it peaks at the #11 396 SPY Put Strike price in terms of the biggest gains off the smallest move @ 0.359 (35.9% premium move off $1 SPY move). This most profitable strike price changes places as the stock moves and expiration gets closer. When the most profitable strike is found this system should send out an SMS alert through our short code provider with the following trade alert format:
SPY $396 Put 9/12 @0.14
^ Stock Symbol | Strike Price | Contract Type | Expiration Date | Premium Cost at the Ask (not Bid)
If the TradingView indicator flagged a Buy Signal then the same calculations would be done for the 15 OTM strike Calls for 9/12. However the Delta would not need to have a ( - ) filtered before the math is done because it is a positive number.
This alert system needs to be fast. Latency could cost our traders money.