⚙ Parameters
Entry Filters
pts
$/share
trading days
trading days
Best Credit/DTE: picks the sweet spot — highest credit per day of capital tied up.
A 3DTE @ $0.30 scores 0.10/day; a 14DTE @ $0.40 scores 0.029/day → 3DTE wins.
A 3DTE @ $0.30 scores 0.10/day; a 14DTE @ $0.40 scores 0.029/day → 3DTE wins.
trading days
trading days
Exit / Profit Targets
× credit
$/lot
pts
Timing
min
hr PT
min PT
Instrument
⚠ Changing instrument closes all open trades first. SPX = cash-settled (no assignment risk). SPY = physical delivery.
Position Sizing
Lots: 1@$0 · 2@$100 · 3@$300 · 4@$600 · 5@$1,000
Changes take effect on the engine's next 30-second poll — no restart needed.
📐 Condor Structure
4-leg all-call credit spread. Net credit = (L2+L3) − (L1+L4).
L1
BUY
anchor
→
L2 (1st short)
SELL
+1 pt
→
L3 (2nd short)
SELL
+5 pts
→
L4
BUY
+8 pts
| Zone | Condition | P&L at Expiry |
|---|---|---|
| MAX PROFIT | L2 ≤ SPY < L3 | Credit + $1.00/sh (L1–L2 intrinsic) |
| Full Credit | SPY < L1 | Full credit received |
| Rising Credit | L1 ≤ SPY < L2 | Credit + rising intrinsic |
| Loss Zone | L3 ≤ SPY < L4 | Losses accumulate |
| Max Loss | SPY ≥ L4 | Capped max loss |
LINE IN THE SAND
SPY ≥ L3 → Defensive reprice (up to 3×) then force close.
SPY options carry physical delivery — short L2 ITM at expiry = assignment.
📋 Rule Set
| # | Rule | Details |
|---|---|---|
| 1 | Trading hours | Engine scans from 5:30 AM PT (8:30 AM ET). Tradier accepts multileg options orders ≥1 hr before open — pre-market often offers better credits. |
| 2 | SPY price < L2 | Market must be below the first short call (L2 = anchor+1) at scan time. If SPY ≥ L2, skip this structure. |
| 3 | L3 OTM distance | Leg 3 strike must be ≥ 1.5 pts above current SPY. Prevents entering structures where the second short is nearly ITM at fill. |
| 4 | Minimum credit | Net credit per share must be ≥ $0.20 (= $20/contract). Filters thin-credit low-quality entries. |
| 5 | Rate limit | Max 1 new entry per 60 min per strategy. Bypassed immediately after a 200% profit exit (recycle). |
| 6 | 1 trade per expiration | Multiple positions OK as long as each uses a different expiration date. Engine blocks duplicate expiry entries. |
| 7 | Best credit wins | All 30 anchor strikes scanned; structure with highest qualifying net credit is selected. Best expiration across DTE 1–15 trading days chosen. |
| Zone | Action |
|---|---|
| Below L2 | Resting GTC exit order at profit_target_dollars. 200% check every 30s. |
| L2 → L3 (max profit zone) | Cancel GTC. Hold for expiry — both short legs ITM, collecting full intrinsic. 200% check still runs. |
| ≥ L3 (line in the sand) | Reprice close order up to 3× then force-close. SPY physical delivery risk — assignment if L2 short goes deep ITM. |
| Assignment cleanup | Every 30s cycle: detect unexpected SPY equity position → market sell immediately via equity order. |
| Priority | Condition | Action |
|---|---|---|
| 1 — HIGHEST | Exit order already filled | Record close, recycle |
| 2 | DTE = 0 | Force market close — always. L2 short call is ITM, assignment certain. |
| 3 | 200% profit target | P&L ≥ 2× entry credit → close immediately, bypass rate limit, recycle. |
| 4 | DTE=1 in L2–L3 zone | Compare close-now P&L vs theoretical max (credit + $1.00/sh). If close-now ≥ theoretical max → close. Else hold one more day (DTE=0 fires). |
| 5 | DTE=1 outside profit zone | Force close — don't carry assignment risk overnight. |
| 6 | Line in sand (SPY ≥ L3) | Reprice close order up to 3×, then force close at market. |
| 7 — LOWEST | Below L2 (normal) | Place/maintain resting GTC at profit target. Hold L2–L3 zone through expiry. |
| Lots | Cumulative P&L Required | Notes |
|---|---|---|
| 1 lot | $0 – $99 | Starting tier |
| 2 lots | $100 – $299 | |
| 3 lots | $300 – $599 | Current tier ($439 cumulative) |
| 4 lots | $600 – $999 | |
| 5 lots | $1,000+ |
Ryan Jones Fixed-Ratio Compounding. Delta = $100 (SPY scale).
Thresholds: 1 lot @ $0, 2 @ $100, 3 @ $300, 4 @ $600, 5 @ $1,000.
Compounding delta is tunable via the Parameters panel.