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Direct MessagesDate/Time: Wed, 24 Apr 2024 15:45:19 +0000
Trade options based on stock price movement
View Count: 2174
| [2013-05-01 15:44:41] |
| User76625 - Posts: 49 |
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I'm using IB and trying to autotrade options using SierraChart based on the underlying stock price movement. For example, when my code gives a buy signal based on AAPL stock, I want that to trigger an order to buy an AAPL Call Option that I have specified. Basically I have everything set up on the stock chart using ASCIL - custom studies, a trading system based on those studies with hardcoded stops, targets, etc - and it works great. Except that when those things get triggered, I want it to take action to buy/sell options instead of the underlying stock symbol on which those studies are applied. Is this supported? |
| [2013-05-01 16:02:49] |
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There is no specific support for this. Maybe you could set up an options chart and have a trading system on that which interacts with the main stock chart. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2013-05-01 16:18:44
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| [2013-05-02 18:28:42] |
| User76625 - Posts: 49 |
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I tried your suggestion, however, it's not working as well as I would have hoped. Now I have 3 times as many charts running (stock + call + put), multiple new studies, and it seems like a lot of unnecessary extra overhead. Plus, stops are an issue since the option positions should be opened and closed based on the underlying stock movement, not the option movement. I was looking through some products similar to SC and found that some offer a "symbol mapping" option so you can trade on one chart, and map the actions to another symbol. That's what I need. That could be a complicated feature request, but I figured you would know more about what that would actually entail. It was thinking of something like a 'symbol' member for s_SCNewOrder - if not defined, it would default to the chart symbol on which the study is placed. Or, you could choose to input your own symbol to trade. Would that be difficult, or really difficult to implement? |
| [2013-05-02 19:09:56] |
| Goblin - Posts: 8 |
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cant you somehow add the stock chart into the options chart as overlay and run the system inside the options chart instead (but feeding not the price but the overlay output)?
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| [2013-05-02 19:58:59] |
| User76625 - Posts: 49 |
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Yeah, that's kind of what I have set up as an interim fix. I have my stock chart with its studies on it, and an extra custom study that is 1 when it gives a buy signal, -1 when it gives a sell signal, then I have that custom study overlaid onto my option charts to send orders for calls when it's a 1, and to send orders for puts when it's -1. It works OK for entries, it just creates a lot of extra charts and studies to run. The real problem is that it then sends trailing stops based on the option price, when I actually also want my stops to be based on stock price (i.e., stock falls to 100, sell my option contacts). The trailing part also doesn't work well with options. It just seems like it would be so much easier to have one chart and just write code as if I was trading the stock, except be able to choose what it actually buys and sells when my signals are triggered. |
| [2013-05-03 04:59:15] |
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We are not sure how well this would work, but it should work. What you will want to do is set the option symbol in Chart >> Chart Settings >> Alternate Real-Time Update Symbol. The only condition is you must also have a chart open for the underlying symbol without using Alternate Real-time Update Symbol, to ensure that you receive real-time data on it. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
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