In Progress

Interactive Brokers API project

Option Scalping System

1. Click on underlying instruments candle

2. Software automatically selects the closest strike price with a 45 to 50% delta and smallest spread between bid and ask of around 5 to 10 cents with a volatility of under 45% from the underlying option chain.

3. Software brackets the option order under an OCO order with the following parameters.

a. Constructs the option order of 10 calls and 10 puts of the underling based on parameters above .

b. Brackets the order as an OCO so if price breaks previous high or low of the 60 min candle selected order is executed for either the call our put order and then cancels the other order based on the OCO parameters.

c. Stop limit order is placed on the option then as option increases in value the stop limit order is canceled and a trailing stop order is placed based on users parameters or by underlying ATR if possible.

Part II

1. Integrate option Scalping strategy above into a fully automated trading system based on technical charting fundamentals to be developed at a future date.

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Skills: Java, Javascript

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Project ID: #571203

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