Option Hedge EA
To carry out such as transaction you need to have one account with Option Broker and one account with Forex Broker supporting MetaTrader trading.
My tool is ideal for Short Strangle Option but you can trade it for single options as well. The EA waits until price reaches one of the strikes and then opens hedge positions to minimize the losses.
Check the screenshots and video for better understanding.
There are possibilities for 4 different alerts as long as changing the color of lines displayed on charts.
Option Hedge EA Parameters
- Take profit - in pips
- Stop Loss - in pips
- Fixed Lot - volume in lots
- Distance - distance from current price in pips (this is very important feature - for example you want to hedge options which their strikes are 100 pips below and 100 pips above the current price, if your strikes are only 50 pips away then you set 50 pips, if you have only one option then set the strike for that one and other line drag away into safe zone so price will not reach it while in expire time)
- Magic number - in case you run more than one EA
- Break Even - true or false
- Break Even Trigger - in pips - activate in 10 pips fro example from distance
- BE pips in profit - secure profit - in pips
- Trailing Stop - true or false
- Use expire time - true or false
- Expire time - time when expire your options (this is important feature, make sure your expire time is same than expire time of your options always check times in your trading terminals!)