Tips

This topic contains 10 replies, has 5 voices, and was last updated by  Igor 2 years, 7 months ago.

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  • #5814

    Igor
    Keymaster

    It’s helpful to set alerts on TOS on short strike’s delta. Go to option chain, right click on the delta column of the strike, select Create Alert:

    I like to set alerts to Delta around 20:


    #5815

    Igor
    Keymaster

    You can also receive sms alerts. They work for sure in USA, not sure about Europe.

    #5882

    Igor
    Keymaster

    Hello Igor,

    Why do you prefer adjusting when one of the short sides hits +/- .20 delta instead of doing adjustments at the 50% of max delta point?

    #5885

    Igor
    Keymaster

    Colin,

    There are many ways to time an adjustment. I prefer looking for adjustments when my short strike’s delta goes up by 10 or so from original entry. In general I think it’s better to adjust earlier rather than later in the trade, but it all comes down to what works better for each trader.

    #5914

    Igor
    Keymaster

    Hi Igor,

    Thanks for this tip. I’ve couple of questions –

    If we have to setup on call side delta should we use the same “At or Below” .20 or “At or Above” .20 ?

    Also, can you please show an alert where one side of the spread Mid price is .35 or below so we can sell that spread at that price ?

    Thanks for all your help.

    Bhavesh

    #5916

    Igor
    Keymaster

    For the DELTA alert on the calls use AT OR ABOVE.

    For alerts on spread mid price use this http://tos.mx/qwvRfN

    Keep in mind, mid prices get pushed around at the open and close, so you might get an alert for the price you’re looking for but the actual market is way above that price.

    #5926

    Igor
    Keymaster

    Thank you Igor. So for spread use the ASK for alert rather than Mid price ?

    #5931

    Igor
    Keymaster

    No, use mid for both.

    #5934

    Igor
    Keymaster

    Thank you Igor

    #7154

    Igor
    Keymaster

    Syntax Think or Swim Iron condor .SPXW161223C2245-.SPXW161223C2255+.SPXW161223P1920-.SPXW161223P1910

    #7164

    Igor
    Keymaster

    syntax one line
    .SPXW161223C2245-.SPXW161223C2255+
    .SPXW161223P1920-.SPXW161223P1910

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