Support Board
Date/Time: Wed, 15 Jan 2025 16:08:29 +0000
question from newly signed up member
View Count: 569
| [2017-07-24 16:06:19] |
| User211227 - Posts: 1 |
|
Today I registered with sierra charts and have downloaded the app. I intend to join the service within the next few day, I will be using IB Brokers as my brokerage to tie in to the Sierra Chart platform. But I have a question I wish to write a simple program which will satisfy the following condition The Action to Activate the Program I wish to issue calls on futures; initially uncovered ; on a weekly basis but they could have a longer duration.. The Program If the future price remains < the strike price, no action is required if the futures price reaches the strike price, the future position equivalent to the number of calls is purchased. and continue owning the underlying future positions as long as the price of future is > the strike price of the call If the future price has been purchased, based on the condition above:- hold the future that has been bought as long as it remains above the strike price and sell the future if and when the future price becomes < the strike price of the call option. And repeat this as many time as necessary during the week . Purpose of Program Ensure that I am always either in or out of the futures position as required based on the conditions above. And then expires at the end of the week as the option expires. Synopsis The program will ensure that the uncovered call that is initially purchased remains uncovered as long as the call is out of the money and if the call moves into the money the underlying future is purchased and the call becomes covered and buys sand sells if necessary during the week to accomplish this as the futures price move up or down during the week. At the end of the week I retain the call premium net of any transaction costs resulting in the future crossing the strike price. Please advise if a program similar to this is already existing in the Sierra Chart data base or if a custom one needs to be written. If so please confirm that this could easily be done within the spread sheet system. Thank you Regards |
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