Hello,

I have recently been trained in the do's and don'ts when trading OTM vertical option spreads. Specifically SPY. My mentor has proprietary code which I inlay on the chart. This gives me either call or put trading points. It has worked very well in testing and I have traded it live with great success. I have now tested a more aggressive ATM strategy that has had the same great results. It does however require me to pay very close attention to the short leg of the spread. I have a job still so it is difficult to manage from my phone.

I am manually calculating a trailing stop as the short strike moves lower and exiting the spread when the stop is reached. As an alternative, the strategy also uses 25 point Renko bars to smooth out the noise and trigger a back ratio trade on the short leg if spy moves against me(sell one short contract for every Renko in the wrong direction). This method has proven very effective in keeping the trade running during 2-3 Renko pull backs. Here are the scenarios:

1 - Manually enter a vertical spread.
Once entered, attach code to the spread and monitor the short leg. Trigger the exit trade with either a trailing percentage or point stop.

2- Manually enter a vertical spread.
Once entered, attach code to the spread and monitor the Renko bars. Trigger the buying back of one short contract for each bar. Trigger the the closing of the whole spread after X number back ratio trades.

I have no experience writing code like this and do not have the time to learn it. Anyone interested in a project for a fee?

EDIT: I forgot to mention the strategy closes all positions end of day. No overnight positions.