Want to Auto Exit a Trade at an ITM Value

[Lerxt 10]

Hi All

 

I'm hoping someone can give me ideas on achieving what I want to do. I am using Interactive Brokers actively and would like to automate an exit of my credit spread trades when the short side get 30% or greater chance of ITM. I can't find a way to do this on TWS.

 

Does anyone either know of a way to do this or possibly have a script or any other ideas on how I could automate this?

 

Thanks in advance

 

Lerxt

[SIUYA 11]

beyond my expertise, but I would guess you would

use the Delta of the short option (as a fudge) to trigger an exit of the spread

and you would have to use the TWS API (probably using excel) to track this.

 

Best bet would be to ask IB directly or look at the yahoo or TWS API chat groups.