A tools that could place the opening trade for butterfly option trade and could alert and manage the execution of all needed orders on a Trading platform(Ninjatrader or Tradestation)
Budget: $30 – $250 USD
I want to achieve at least one of the following
objectives.
any of the objectives you could provide for me.
- Objective 1 is an alert tool that will text me when my option trade has entered one of the 6
profit target zones (see below).
- Objective 2 is a tool that could text alert me and create the option orders needed for
execution of each profit target zone on a trading platform
- Objective 3
a tool that could alert me and automate the execution of all needed option
orders on a trading platform
- Objective 4
a tool that could place the opening trade for the butterfly option trade and
could alert and manage the execution of all needed orders on a trading
platform
*My Goal is to Manage profitable 0 DTE butterfly option trades by using the exact opposing
trade to work as a trailing stop and let all positions expire at the end of the day instead of
closing the positions therefore never triggering Pattern Day Trader Rules. I have 6 possible
profit targets to manage a profitable position. (Each target is based on time of the day, price
relation to the butterfly tent, and profit in the trade. - see chart below)
(example - I buy to open an out of the money Call butterfly in the morning and a few hours
later price has moved in my favor and enters profit target 1
I would place a conditional order that if the value of my call butterfly drops 50% from the high
of the day to sell to open the exact opposite Put butterfly to essentially lock in the profits like a
trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 2 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
40% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 3 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
35% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 4 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
30% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 5 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
20% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 6 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
10% from the high of the day to essentially lock in the profits like a trailing stop would.
objectives.
any of the objectives you could provide for me.
- Objective 1 is an alert tool that will text me when my option trade has entered one of the 6
profit target zones (see below).
- Objective 2 is a tool that could text alert me and create the option orders needed for
execution of each profit target zone on a trading platform
- Objective 3
a tool that could alert me and automate the execution of all needed option
orders on a trading platform
- Objective 4
a tool that could place the opening trade for the butterfly option trade and
could alert and manage the execution of all needed orders on a trading
platform
*My Goal is to Manage profitable 0 DTE butterfly option trades by using the exact opposing
trade to work as a trailing stop and let all positions expire at the end of the day instead of
closing the positions therefore never triggering Pattern Day Trader Rules. I have 6 possible
profit targets to manage a profitable position. (Each target is based on time of the day, price
relation to the butterfly tent, and profit in the trade. - see chart below)
(example - I buy to open an out of the money Call butterfly in the morning and a few hours
later price has moved in my favor and enters profit target 1
I would place a conditional order that if the value of my call butterfly drops 50% from the high
of the day to sell to open the exact opposite Put butterfly to essentially lock in the profits like a
trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 2 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
40% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 3 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
35% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 4 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
30% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 5 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
20% from the high of the day to essentially lock in the profits like a trailing stop would
If the price keeps moving in my favor and butterfly profit enters profit target 6 I would replace
that Sell to Open order with a new Sell to Open order if the value of my call butterfly drops
10% from the high of the day to essentially lock in the profits like a trailing stop would.