Single-Leg Options Exit Strategy

via Freelancer ·

Budget / Salary$30–250
TypeFreelance project
LocationRemote
Posted1 hour ago
I trade simple, single-leg options—straight puts and calls—and I’m looking for a clear, rule-based exit strategy I can apply to every position I open. I will already have chosen the option chain; what I need is an objective, repeatable set of rules that tells me when to close the trade for either a loss or a win.

Here’s what I have in mind so far
• Close the trade if price slips below a predefined level or if technicals signal that a bounce is unlikely.
• Lock in profits once a target dollar amount—calculated from current technical conditions—is reached.

I’m open to having this logic built directly into a 3rd-party platform such as Option Omega, OptionStack, ORATS, or even within my existing Tastytrade account—whichever gives the cleanest implementation at a reasonable cost. If your solution involves a different tool, just explain why it’s the better fit.

Deliverables
1. A documented exit model (rules + parameter values) that I can understand and adjust over time.
2. Implementation of those rules—either as a coded strategy inside a supported platform or a step-by-step template I can follow manually in Tastytrade.
3. A brief walk-through (video call or written guide) so I’m confident using it on live trades.

Keep the complexity manageable; I’m comfortable interpreting basic indicators but don’t need a black-box system. Let me know what data source or platform access you’ll require from my side, and include an estimated turnaround time for first draft and final hand-off.
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