Automated Option Strategy Execution on TradeStation

Overview: We are seeking a skilled developer with expertise in creating custom algorithms for automated trading, specifically within the TradeStation platform. The objective is to develop a program that executes a predefined trading strategy targeting options for a specific ticker symbol at the opening of the stock market. Project Objective: Create an automated trading bot that: Scans the Option Chain: Immediately after the stock market opens, the program should scan the option chain for ticker we set it up for, focusing particularly on contracts with the lowest number of days until expiration, including 0-day contracts. Identifies and Buys Call Options: The program will identify call options within this chain that have an "open column" value of $0.85 or less. Once identified, it will purchase one of these call contracts at the market price. Identifies and Buys Put Options: Similarly, the program will identify put options within the same criteria (open column value of $0.85 or less) and purchase one of these put contracts at market price. Sells Based on Unrealized P&L: After both the call and put contracts have been purchased, the program will continuously monitor the total positions. Once the unrealized profit and loss (P&L) of both contracts combined reaches or exceeds a 10% gain, the program will automatically sell both positions or also has the ability to implement a trailing stop of 10%. Requirements: Expertise in TradeStation Automation: The candidate must possess strong experience in programming custom trading strategies on TradeStation. A deep understanding of the platform's scripting language and API is essential. Experience with Option Trading: Knowledge of options trading and familiarity with the dynamics of option chains, including understanding of terms like "open column", is crucial for the accurate execution of this strategy. Monitoring and Execution: The developed system needs to be capable of real-time monitoring of option prices and execute buy/sell orders at market price swiftly to capitalize on short-term market movements. Testing and Validation: Prior to full deployment, the system must be thoroughly tested using historical data and in a simulated environment to ensure its accuracy and reliability in executing the trading strategy. Deliverables: Automated Trading Bot: Fully functional and tested program that meets the strategy criteria outlined above. Documentation: Comprehensive documentation, including a setup guide, strategy rationale, and detailed description of the program's functions. After-Sales Support: Availability for initial setup assistance and a period of technical support to address any potential issues or adjustments required after deployment. We are looking for a developer who is passionate about creating efficient and reliable trading solutions. If you possess expertise and are excited about contributing to a project that combines real-time data processing with strategic financial execution, we look forward to receiving your proposal.