# Table of Contents - [Welcome | Option Omega Documentation](#welcome-option-omega-documentation) - [Academy | Option Omega Documentation](#academy-option-omega-documentation) - [Read This First | Option Omega Documentation](#read-this-first-option-omega-documentation) - [Discord Community | Option Omega Documentation](#discord-community-option-omega-documentation) - [Written Documentation | Option Omega Documentation](#written-documentation-option-omega-documentation) - [Get Verified | Option Omega Documentation](#get-verified-option-omega-documentation) - [Rules & Expectations | Option Omega Documentation](#rules-expectations-option-omega-documentation) - [Video Highlights | Option Omega Documentation](#video-highlights-option-omega-documentation) - [Video Resources | Option Omega Documentation](#video-resources-option-omega-documentation) - [Free Trial | Option Omega Documentation](#free-trial-option-omega-documentation) - [Scam Awareness & Reporting | Option Omega Documentation](#scam-awareness-reporting-option-omega-documentation) - [Advanced Options | Option Omega Documentation](#advanced-options-option-omega-documentation) - [Verified Channel Guide | Option Omega Documentation](#verified-channel-guide-option-omega-documentation) - [YouTube Instructional Videos | Option Omega Documentation](#youtube-instructional-videos-option-omega-documentation) - [Cigar Lounge Interviews | Option Omega Documentation](#cigar-lounge-interviews-option-omega-documentation) - [Discord Tips & Tricks | Option Omega Documentation](#discord-tips-tricks-option-omega-documentation) - [Entry Time Configuration | Option Omega Documentation](#entry-time-configuration-option-omega-documentation) - [Cigar Lounge Backtest & Concept Videos | Option Omega Documentation](#cigar-lounge-backtest-concept-videos-option-omega-documentation) - [Profit Target and Stop Loss Order Types | Option Omega Documentation](#profit-target-and-stop-loss-order-types-option-omega-documentation) - [Trial FAQ | Option Omega Documentation](#trial-faq-option-omega-documentation) - [Read this first- Brokerage Details | Option Omega Documentation](#read-this-first-brokerage-details-option-omega-documentation) - [Real Quicks | Option Omega Documentation](#real-quicks-option-omega-documentation) - [Sample Backtests | Option Omega Documentation](#sample-backtests-option-omega-documentation) - [Trade Smart: InfoStation | Option Omega Documentation](#trade-smart-infostation-option-omega-documentation) - [Custom Signals Tester | Option Omega Documentation](#custom-signals-tester-option-omega-documentation) - [Contact Us/ Support | Option Omega Documentation](#contact-us-support-option-omega-documentation) - [Trade Management | Option Omega Documentation](#trade-management-option-omega-documentation) - [Automation FAQ | Option Omega Documentation](#automation-faq-option-omega-documentation) - [Modeling FAQ | Option Omega Documentation](#modeling-faq-option-omega-documentation) - [Common Abbreviations | Option Omega Documentation](#common-abbreviations-option-omega-documentation) - [Backtesting FAQ | Option Omega Documentation](#backtesting-faq-option-omega-documentation) - [Backtest Results | Option Omega Documentation](#backtest-results-option-omega-documentation) - [Getting Started | Option Omega Documentation](#getting-started-option-omega-documentation) - [Setup and Use | Option Omega Documentation](#setup-and-use-option-omega-documentation) - [Strategy Setup | Option Omega Documentation](#strategy-setup-option-omega-documentation) - [Portfolios | Option Omega Documentation](#portfolios-option-omega-documentation) - [Backtest Setup | Option Omega Documentation](#backtest-setup-option-omega-documentation) - [Email Protection | Cloudflare](#email-protection-cloudflare) --- # Welcome | Option Omega Documentation #### [](https://docs.optionomega.com/#backtesting) Backtesting Learn how to build and analyze strategies using the Option Omega backtester. You’ll discover how to: * Set up a backtest, and make it robust and rigorous! * Understand the results screen * Combine backtests using portfolios #### [](https://docs.optionomega.com/#automation) Automation Once you're confident in your backtesting & trading, explore our automation options. The automation section walks through: * Connecting your broker * Setting up your entry and exit strategies * Managing active trades and reporting #### [](https://docs.optionomega.com/#academy) Academy Our free **Option Omega Academy** includes both a **Backtesting Bootcamp** and **Automation Bootcamp**. These video courses walk you through key workflows to help you master the platform — fast. #### [](https://docs.optionomega.com/#community) 💬 Community Join our active (and free) Discord server to connect with other traders, ask questions, and share insights. This is also where technical support for the backtester and automation platform happens. Our provided community guidelines well help you & others get the most out of our awesome community. #### [](https://docs.optionomega.com/#new-users-start-here) New Users Start Here We highly recommend new users follow the onboarding progression outlined in the **Welcome** section: 1. **Read This First** 2. **Academy** 3. **Written Documentation** 4. **Discord Community** 👉 **Follow the link below to get started with "Read This First!"** [NextRead This First](https://docs.optionomega.com/welcome/read-this-first) Last updated 25 days ago --- # Academy | Option Omega Documentation ### [](https://docs.optionomega.com/welcome/academy#overview) Overview **Option Omega Academy** is our educational platform — a collection of trader-taught courses covering everything from trading mindset to tools, techniques, and actionable strategies. Whether you're learning the backtester or exploring advanced automation, the Academy is designed to help you build practical skills with real-world relevance. ### [](https://docs.optionomega.com/welcome/academy#how-to-sign-in-and-get-started) 📝 How to Sign In and Get Started 1. **Go to** 👉 [https://academy.optionomega.com](https://academy.optionomega.com/) _Consider bookmarking the Academy along with the Backtester and Written Docs for quick access._ 2. **Click “Sign In” and create an account.** * Your **Academy login is separate** from your Option Omega login. * Even if you already use the backtester, you'll need to register a **new Academy account**. 3. **Find the free Option Omega content.** * After logging in, you’ll see all available courses. * To filter only Option Omega content, **set the “Author” filter to “Option Omega.”** * The **Backtesting Bootcamp** will be prominently listed there — that's your starting point. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FBXUvbpgXstl9iKme404B%252Fimage.png%3Falt%3Dmedia%26token%3D348f51a5-155a-48db-978c-2b9bd5a3e948&width=768&dpr=4&quality=100&sign=dc2809bc&sv=2) ### [](https://docs.optionomega.com/welcome/academy#academy-faq) ❓ Academy FAQ **💵 Does the Academy cost money?** Creating an account is free. While some courses are paid, **all official Option Omega training content (like the Backtesting and Automation Bootcamps) is 100% free.** **📊 How much are the paid classes?** Course prices vary. You’ll see pricing clearly listed on each course. **🔐 Why can’t I use my regular Option Omega password?** The Academy is hosted separately from the backtesting and automation platforms. This means: * Separate systems * Separate accounts * Separate logins Your Academy account is different from your login for the backtester and automation. **💬 Are there community features in Academy?** Yes! Some courses (especially premium ones) include **private Discord channels** where students can ask questions and interact directly with instructors. [PreviousRead This First](https://docs.optionomega.com/welcome/read-this-first) [NextWritten Documentation](https://docs.optionomega.com/welcome/written-documentation) Last updated 5 months ago --- # Read This First | Option Omega Documentation #### [](https://docs.optionomega.com/welcome/read-this-first#our-vision) 🎯 Our Vision We’ve built a world-class, deeply flexible backtester — and we’re here to help you master it. This onboarding guide is designed to give you the confidence to explore Option Omega’s full feature set and understand how it all works. #### [](https://docs.optionomega.com/welcome/read-this-first#why-this-onboarding-flow-matters) 🧭 Why This Onboarding Flow Matters Both the **Backtester** and **Automation** platforms are powerful, evolving tools. They’re actively maintained with new user-requested features rolling out regularly. The **Option Omega Academy** and the **Written Documentation** are your go-to, always up-to-date sources for how things work. One common challenge, especially for experienced traders, is expecting the backtester to behave like their preferred strategy setup. But the backtester isn’t rigid — it’s extremely flexible. You can model nearly any strategy imaginable — once you understand how it works. ### [](https://docs.optionomega.com/welcome/read-this-first#step-by-step-progression) 🪜 Step-by-Step Progression #### [](https://docs.optionomega.com/welcome/read-this-first#id-1-start-with-the-backtesting-bootcamp) 1️⃣ **Start with the Backtesting Bootcamp** Begin your journey in the **Option Omega Academy**. The free Backtesting Bootcamp will walk you through the platform fundamentals and strategy setup. > Note: The Academy requires a separate login and password. All details on accessing the Academy are covered on the next page. #### [](https://docs.optionomega.com/welcome/read-this-first#id-2-use-the-written-documentation) 2️⃣ **Use the Written Documentation** Once you've completed the Academy, you’ll have likely built and saved your first few backtests. Now, if you get stuck or need a refresher, the **written docs** are your best friend. They’re structured for speed — much easier than rewatching videos to answer a single question. Search is fast, accurate, and designed to be helpful. #### [](https://docs.optionomega.com/welcome/read-this-first#id-3-join-the-discord-community) 3️⃣ **Join the Discord Community** The Discord server is the heart of OO — a space to share ideas, ask questions, and connect with other traders. It’s free to join, and OO subscribers get access to verified channels via a quick 1-minute self-verification. > ✅ **New User Tip**: You don’t need to wait to join — but we recommend completing the Bootcamp and reviewing the docs before asking for help. This shows respect for others’ time and will lead to more helpful, higher-quality discussions. Our **Discord Guide** covers everything: * How to set up your account and verify * Channel structure * Community guidelines * A glossary of common abbreviations and acronyms used in discussion #### [](https://docs.optionomega.com/welcome/read-this-first#bonus-the-oo-show-on-youtube) 📺 Bonus: The OO Show on YouTube Option Omega also creates **daily videos** via the OO Show as well as backtest deep dives, community challenges, year-end lookbacks, and interviews with active users. We have highlighted some of our favorite videos in the welcome section. Just note: As the platform evolves, screenshots or workflows in older videos may differ slightly from the current platform. For up-to-date answers, rely on the **Academy**, **written docs**, and the **feature update log** available in the discord community. #### [](https://docs.optionomega.com/welcome/read-this-first#ready-to-begin) 🚀 Ready to Begin? The next stop is the Option Omega Academy! [PreviousWelcome](https://docs.optionomega.com/) [NextAcademy](https://docs.optionomega.com/welcome/academy) Last updated 5 months ago --- # Discord Community | Option Omega Documentation ### [](https://docs.optionomega.com/welcome/discord-community#what-to-know-before-you-join) What to Know Before You Join * **It’s free to join** — and Option Omega subscribers get access to private, verified channels via a quick one-minute self-verification. * **We recommend completing the Academy Bootcamp** and reviewing the docs before asking for help — this improves the quality of conversations and makes it easier for experienced members to assist. * **Everyone is welcome** — from first-time traders to seasoned pros, from all backgrounds and time zones. ### [](https://docs.optionomega.com/welcome/discord-community#what-youll-find-in-this-section) What You'll Find in This Section * **Get Verified** – Step-by-step instructions for joining the server and unlocking full access * **Rules & Expectations** – How to contribute constructively and support a collaborative environment * **Verified Channel Guide** – Overview of all the channels and what belongs where * **Common Abbreviations** – A glossary of trading and platform shorthand * **Discord Tips** – Practical advice for searching, sharing your work, and engaging effectively * **Scam Awareness & Reporting** – How to identify impersonators, protect yourself, and report suspicious behavior. We’re proud of the community we’ve built — and we’re excited to have you join us. **See you in Discord.** [PreviousWritten Documentation](https://docs.optionomega.com/welcome/written-documentation) [NextGet Verified](https://docs.optionomega.com/welcome/discord-community/get-verified) Last updated 4 months ago * [What to Know Before You Join](https://docs.optionomega.com/welcome/discord-community#what-to-know-before-you-join) * [What You'll Find in This Section](https://docs.optionomega.com/welcome/discord-community#what-youll-find-in-this-section) --- # Written Documentation | Option Omega Documentation If you prefer written content, or need a quick reference, this resources website is the place to be. The written documentation starts with [Creating a Backtest](https://docs.optionomega.com/backtesting/backtest-setup) (Backtesting Setup) and go goes from there! Also strongly recommended is the the Option Omega Discord server— it has a wealth of written info, including many common questions (and answers!), literally 100’s of community shared tests, a lively group of backtesters, and much more! Here’s a [quick video](https://youtu.be/-O89V1fcBT0?si=1kP3gpKK12dn4T80) on how to get onto the Discord. (All the action is in the verified channels– so make sure you get verified!) And of course, as the best place to start, we will always recommend [taking the Backtesting Bootcamp class on Option Omega Academy](https://academy.optionomega.com/course?courseid=backtesting-bootcamp) . This will get you up to speed -fast! (Note– the class is free– it does required a login/pw to Academy, which is separate from the login/pw to the OO backtester. ### [](https://docs.optionomega.com/welcome/written-documentation#sample-walkthrough-of-spx-backtest) Sample Walkthrough of SPX Backtest [You can also checkout this video here, with a sample SPX backtest setup](https://youtu.be/cGPSgi43o_w) Companion documentation is below. We’re going to walk you through a simple backtest setup. 2023 has been an interesting market– we’re going to look at a simple 4DTE Friday Put Credit Spread. We’re going to click on “New Backtest” and setup the first portion like this: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FMO6MJKBO7VXyALXkQCTD%252FSample%2520SPX%2520Backtest.png%3Falt%3Dmedia%26token%3D68c980ed-5439-4e68-b37e-8b4298d5d9f9&width=768&dpr=4&quality=100&sign=77f92a3a&sv=2) This will give us a test which will is dated the first few months of 2023. We picked a “Short Put Spread”, and changed the legs to sell the 35 delta, 10 wide. We’re going to do a 4 DTE. In the next section of the backtest setup, let’s change the entry time to 10:00. The other notable change is moving the test to ONLY test Friday’s (since different days perform differently on different tests!). We do this by selecting the frequency dropdown and changing to weekly, then selecting only F. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F1PHfrV6UyRwY4zJiuQim%252FSample%2520SPX%2520Backtest%25202.png%3Falt%3Dmedia%26token%3D3311f2f3-cded-429b-80e5-f1c93d836d51&width=768&dpr=4&quality=100&sign=21b7edab&sv=2) On the next screen, let’s do both 50% for PT and SL. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3EE4yG4QjIaeDMm3C9oH%252F50%2520PT%2520and%2520SL.png%3Falt%3Dmedia%26token%3Dd9fa1452-5ea2-4c30-949c-ad52a5cb93f7&width=768&dpr=4&quality=100&sign=7b2b7098&sv=2) Finally, for the Misc section, we have a few things to do here. Firstly, let’s add some standard commissions in. Also, we’re going to use slippage, to beat up the test a little bit. Finally, we’re going to Cap Profits at our profit target, and require two hits on the PT to execute. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F4PnMk86JoJMD0n5yv0MI%252FMisc%2520Adds.png%3Falt%3Dmedia%26token%3D237510b5-49de-4ec5-b9c5-dc0ca54991e2&width=768&dpr=4&quality=100&sign=f49db57f&sv=2) Let’s click run, and we’ll see how it goes! ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FSYj9FuC3Uxvm4ggpvVx7%252FBacktest%2520Results%2520Screen%2520Sample.png%3Falt%3Dmedia%26token%3D5f672349-128c-49c0-8c4a-d321732d04f9&width=768&dpr=4&quality=100&sign=ef1e0d49&sv=2) The backtest results screen gives you a wealth of information about how the test performed. [PreviousAcademy](https://docs.optionomega.com/welcome/academy) [NextDiscord Community](https://docs.optionomega.com/welcome/discord-community) Last updated 5 months ago --- # Get Verified | Option Omega Documentation Verification is a one-time process for Option Omega subscribers and typically takes less than a minute. Please follow the steps below. ### [](https://docs.optionomega.com/welcome/discord-community/get-verified#recommended-videos) Recommended Videos We recommend new users watch the following two videos before proceeding. They provide a quick walkthrough of the process and explain how to navigate the community: * **How to Verify Your Discord Account** [https://www.youtube.com/watch?v=kWer1Vd\_PzI](https://www.youtube.com/watch?v=kWer1Vd_PzI&utm_source=chatgpt.com) * **Discord Community Overview** [https://youtu.be/-O89V1fcBT0](https://youtu.be/-O89V1fcBT0?utm_source=chatgpt.com) ### [](https://docs.optionomega.com/welcome/discord-community/get-verified#scam-warning) Scam Warning Please note that Discord has a known issue with impersonators and scam attempts. **OO staff will never send you direct messages or friend requests.** If you receive a suspicious message claiming to be from an OO team member, assume it is a scam — report and block the user. ### [](https://docs.optionomega.com/welcome/discord-community/get-verified#written-instructions-for-self-verification) Written Instructions for Self-Verification #### [](https://docs.optionomega.com/welcome/discord-community/get-verified#step-1-go-to-the-discord-community-by-following-the-link-https-discord.gg-s5hg3ecue4) Step 1: Go to the Discord community by following the link: [https://discord.gg/s5HG3ECUE4](https://discord.gg/s5HG3ECUE4) #### [](https://docs.optionomega.com/welcome/discord-community/get-verified#step-2-find-your-discord-username-not-your-display-name) Step 2: Find Your Discord Username (Not Your Display Name) Click your profile in the bottom-left corner of Discord to bring up your account card. > ⚠️ The most common mistake is copying your **display name**, which is not your actual username. Your **Discord Username** appears directly under your display name and remains constant. It may include punctuation or numbers and must be copied **exactly**. Example, in the image below: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FCpomUo1e44QVf5zUJfK7%252Fimage.png%3Falt%3Dmedia%26token%3D8b57aa8e-96f0-4da3-8f10-e82367a9e415&width=768&dpr=4&quality=100&sign=dbb889ef&sv=2) #### [](https://docs.optionomega.com/welcome/discord-community/get-verified#step-3-enter-your-username-in-option-omega) Step 3: Enter Your Username in Option Omega 1. Login to [optionomega.com](https://optionomega.com/?utm_source=chatgpt.com) 2. Click the person icon in the top right corner, then select **Settings** 3. Go to the **Preferences** tab 4. Paste your full Discord username into the **Discord Username** field * Double check for typos, punctuation, and spacing — it must match Discord exactly 5. Click **Update Preferences** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FGyUyOj6x38SsunPH1exC%252Fimage.png%3Falt%3Dmedia%26token%3D594590a1-a9b0-4855-acbe-795c724148eb&width=768&dpr=4&quality=100&sign=ff5f9ec&sv=2) Once submitted, your Discord access will update automatically. Most users are verified within 1–2 minutes. Once you're in, you're in! The next few pages in this section provide additional guidance and tips to help you make the most of your experience in the community. **Step 4: Follow** [**#known-issues**](https://discord.com/channels/882705067210317915/1377977525933834260) **channel on the server (Especially important for automation users)** Make sure you're following [#known-issues.](https://discord.com/channels/882705067210317915/1377977525933834260) Important communications and time-sensitive information is posted there. **Welcome — and enjoy!** [PreviousDiscord Community](https://docs.optionomega.com/welcome/discord-community) [NextRules & Expectations](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations) Last updated 4 months ago * [Recommended Videos](https://docs.optionomega.com/welcome/discord-community/get-verified#recommended-videos) * [Scam Warning](https://docs.optionomega.com/welcome/discord-community/get-verified#scam-warning) * [Written Instructions for Self-Verification](https://docs.optionomega.com/welcome/discord-community/get-verified#written-instructions-for-self-verification) --- # Rules & Expectations | Option Omega Documentation We kindly ask all our communty members to: ### [](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-1-be-kind) #1 Be Kind This is a casual, collaborative space. Aggressive, antagonistic, or consistently negative behavior will not be tolerated. If something escalates, it may result in a warning or removal from the server. Disagreement is fine — being difficult isn’t. ### [](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-2-respect-boundaries) #2 Respect Boundaries Some members use real names, others remain anonymous. Both are welcome. Treat everyone with the same level of respect, regardless of experience or visibility. Participation in this Discord is a privilege, not a right. (Refer to Rule #1.) ### [](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-3-no-one-owes-you-a-backtest) #3 No One Owes You a Backtest Option Omega is a **backtesting and automation platform** — not a signal service or copy-trading community. There is **no expectation** that other users will share their backtests or trades. Some members find value in sharing backtests that align with their own trading — whether for feedback, accountability, or simply to give back. Others post exploratory ideas or unrefined concepts to inspire discussion. **All of these approaches are valid.** It’s up to each member to decide **if**, **what**, and **how much** they want to share. **Please do not pressure anyone to share trades or strategies.** _Exception_**:** If you're asking for help or feedback on a trade or backtest, it's considerate to include a share link with your question. If not, you'll most likely be asked to share one — it's very difficult to provide meaningful help without seeing all the parameters and being able to quickly troubleshoot the setup. If you prefer to keep the details private, we recommend modifying a few variables before sharing. That way, you can still get support without revealing your full backtest. ### [](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-4-lead-by-example) #4 Lead by Example You’ll get the most out of this community if you: * Complete the academy backtesting bootcamp use the docs as your first-line of help * Use search to explore the 1,000+ backtests already shared in the server * Share your own work and ask thoughtful questions * Be patient — not everyone is online when you are In short: do your homework, engage respectfully, and enjoy the process. The more you give, the more you’ll get in return. ### [](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-5-nothing-here-is-financial-advice) #5 Nothing Here is Financial Advice This server exists for discussion and learning — not for investment recommendations. Assume anything you read is opinion only. Options trading involves risk and is not suitable for all investors. Backtesting is backwards looking and not forward looking. Speak with a qualified financial advisor before making any financial decisions. Nothing from Option Omega is financial advice. If you wish to read more, please see OO's [Terms and Conditions.](https://optionomega.com/terms) [PreviousGet Verified](https://docs.optionomega.com/welcome/discord-community/get-verified) [NextVerified Channel Guide](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide) Last updated 4 months ago * [#1 Be Kind](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-1-be-kind) * [#2 Respect Boundaries](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-2-respect-boundaries) * [#3 No One Owes You a Backtest](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-3-no-one-owes-you-a-backtest) * [#4 Lead by Example](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-4-lead-by-example) * [#5 Nothing Here is Financial Advice](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations#id-5-nothing-here-is-financial-advice) --- # Video Highlights | Option Omega Documentation Resources [PreviousScam Awareness & Reporting](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting) [NextVideo Resources](https://docs.optionomega.com/welcome/video-highlights/video-resources) Last updated 1 year ago --- # Video Resources | Option Omega Documentation ### [](https://docs.optionomega.com/welcome/video-highlights/video-resources#new-to-option-omega) New to Option Omega? We have a wealth of written resources on this page, as well as short form and long form videos. If you’re new to the platform, here’s the first few things we recommend to get started The best thing you can first is [take the Backtesting Bootcamp class on Option Omega Academy](https://academy.optionomega.com/course?courseid=backtesting-bootcamp) . This will get you up to speed! (Note– the class is free– it does required a login/pw to Academy, which is separate from the login/pw to the OO backtester. The class is video based. Sign up to the Discord community– [this video](https://youtu.be/MyEkmc96t1E?si=j3lRl0IT8Sgl_Ns3) will show you how. For quick (60ish seconds, we have a whole series of videos call [“Real Quicks“](https://docs.optionomega.com/welcome/video-highlights/real-quicks) – where the overview of a concept is quickly explained). There is a wealth of [YouTube content in our YT channel](https://www.youtube.com/optionomega) — and if you’re a video lover, most users start with the Option Omega 101 video below. From there, either the Profit and Loss Deep Dive, or Option Omega 201 video is a great next step. Note: The profit and loss video has a BUNCH of the most common questions and tweaks. [PreviousVideo Highlights](https://docs.optionomega.com/welcome/video-highlights) [NextYouTube Instructional Videos](https://docs.optionomega.com/welcome/video-highlights/youtube-instructional-videos) Last updated 1 year ago --- # Free Trial | Option Omega Documentation During the checkout process– Option Omega subscribers will have the choice of doing a free trial. The trial is OPTIONAL, and is only applicable for the backtester and modeling tiers. Automation is not included in the free trial. Clicking the "Choose Subscription" button will start a paid subscription— there is NO TRIAL with this choice. For users who want the free trial, the bottom option that says "7-day Free Trial\*" (Limited to 2017) is the one to select. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FMmpAbbssApybsjHgWsFI%252Fimage.png%3Falt%3Dmedia%26token%3De58ea4e2-1667-4879-9e96-52f6ee12762a&width=768&dpr=4&quality=100&sign=48f26b72&sv=2) The 7-day Free Trial is fully featured, and contains all the tweaks, parameters and possibilities that the standard subscription contains. (Note: On the backtester the trial is only limited to 2017 dates only— it is designed to see if the features of the software will work for the user). Trial users can also get extra channels on the Discord You self verify by putting your discord username in the “discord username” field on optionomega.com That will grant you access to the verified channels. [Watch this 1 minute video how to do this.](https://youtu.be/kWer1Vd_PzI?si=7kO3aUbN6LJ92QcN) On the Discord, verified users will have a green name. Trial users will have an orange name. The trial users have access to some of the verified channels including the [#help-questions channel for backtesting](https://discord.com/channels/882705067210317915/1083424140813410396) . [PreviousCigar Lounge Backtest & Concept Videos](https://docs.optionomega.com/welcome/video-highlights/cigar-lounge-backtest-and-concept-videos) [NextSample Backtests](https://docs.optionomega.com/welcome/free-trial/sample-backtests) Last updated 1 month ago --- # Scam Awareness & Reporting | Option Omega Documentation You've just joined the Option Omega Discord, verified your account, and now—_you've received a friend request from someone on the OO Team!_ Exciting, right? Not so fast... Let’s make sure it’s legitimate before engaging. ### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#quick-rule-of-thumb) Quick Rule of Thumb: Option Omega team members **do not send unsolicited DMs**. If you receive a private message or friend request that you weren't expecting, proceed with caution. ### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#common-red-flags) Common Red Flags Here are quick checks you can perform to identify potential scammers: 1. **Unexpected Friend Request** Don’t accept requests you weren’t expecting—especially if you haven’t interacted publicly with the person before. 2. **No Mutual Servers** If the user doesn’t share the Option Omega server with you, they are almost certainly an impersonator. 3. **Lookalike Names** Scammers often copy profile pictures and use similar-looking names. For example, the real Matt uses the handle `corranth` A scammer might use `corranth.` or `corranth8` to trick you. These differences can be easy to miss. Remember the Discord display name is not the same as user name! 4. **Account Age** Be wary of accounts created recently or with suspiciously generic profiles. If the member "joined Discord in 2023" but claims to be a long-time OO staffer from 2021, something doesn’t add up. ### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#safer-ways-to-engage-privately) Safer Ways to Engage Privately If you want to message someone directly: * **Click the user’s name from inside a channel** This guarantees you’re messaging the _real_ account that made the post—not an impersonator. * **Never respond to random DMs that appear to reference Option Omega unless you initiated the contact.** ### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#what-to-do-if-you-spot-a-scammer) What to Do If You Spot a Scammer If someone is impersonating a member of the team: 1. **Do not engage.** 2. **Report the profile**: * Click the `···` (three dots) on the user’s profile or message * Select **"Report User Profile"** * On the next screens, select any relevant details (e.g., fake name, misleading image, scam messages) 3. **Tag a team member in a channel** if the scammer is posting publicly — we’ll remove the post and ban the user quickly. ### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#example-spotting-a-scam) Example: Spotting a Scam Let’s break down a real-world scam attempt and how to identify it quickly. You receive a friend request from someone claiming to be **Matt (Option Omega)**. At first glance, it may seem legitimate — but upon closer inspection, there are several red flags: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FNRVV7K19rQfMdo092sM6%252Fimage.png%3Falt%3Dmedia%26token%3Da74e6b0e-766d-4bfa-aede-8c565e297155&width=768&dpr=4&quality=100&sign=2cae4906&sv=2) **1\. “No Mutual Servers”** If you don’t share the Option Omega Discord server with the user, that’s a clear sign something’s wrong. Legitimate team members will always share the server with you. **2\. Account age: “Member Since 2023”** Option Omega was founded in 2021 — if someone claiming to be a long-standing team member has a fresh account, that’s suspicious. **3\. Username mismatch** In this example, the name shown is `corranth8`. This _looks_ similar to Matt’s real username but may be spoofed. To verify a real team member, find one of their posts in a public channel and click their name directly from the message. > ✅ **Pro tip:** Always check usernames by clicking through from an actual message inside the server. Don’t trust DMs that show up out of nowhere. #### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#what-to-do-next) What to Do Next If you’ve confirmed the account is a scammer: 1. **Do not accept or engage.** 2. Click the `···` (three dots) next to the message or on the user’s profile. 3. Select **"Report User Profile"** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3IhJWaFMKP20Ri0YLhEa%252Fimage.png%3Falt%3Dmedia%26token%3D4b3eca38-19ed-49f4-91fe-0fcf21645a85&width=768&dpr=4&quality=100&sign=46b520f1&sv=2) **Select what all you are reporting:** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FTUTkw9oQheyzXYoj3Wyd%252Fimage.png%3Falt%3Dmedia%26token%3Ddbff2c47-3e33-4961-be95-a689b91bb4e1&width=768&dpr=4&quality=100&sign=442781b0&sv=2) **Select "Impersonating me or someone I know"** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FR9nSDpWqzc8AHdIKQWtw%252Fimage.png%3Falt%3Dmedia%26token%3D17d857f5-cf93-4b1d-beef-1f709baec133&width=768&dpr=4&quality=100&sign=d903945f&sv=2) **Submit the report & then Block the user:** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FUlIh2vebWUjOm7QtiDS4%252Fimage.png%3Falt%3Dmedia%26token%3Dd35c6e9a-717a-4fdb-a2b0-415811b5612f&width=768&dpr=4&quality=100&sign=491bc1a&sv=2) **You will see a confirmation that the report was submitted:** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FR6m6f8AOHTFZIFa9B64G%252Fimage.png%3Falt%3Dmedia%26token%3Dd0440d89-31fe-465e-ab46-5a7028c8561d&width=768&dpr=4&quality=100&sign=7361310c&sv=2) **Thank you for helping clean up discord!** ### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#scam-awareness-q-and-a) Scam Awareness Q&A #### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#q-what-if-i-accidentally-block-someone-legitimate) **Q: What if I accidentally block someone legitimate?** No worries — go to your **User Settings > Privacy & Safety > Blocked Users** to view and unblock anyone you've blocked by mistake. It’s easy to reverse, and no harm is done. #### [](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#q-what-is-the-difference-between-ignoring-or-blocking-a-user) **Q: What is the difference between "Ignoring" or "Blocking" a user?** For further reading on user ignore & blocking features see Discord's docs: [https://support.discord.com/hc/en-us/articles/28084948873623-How-to-Ignore-Users-on-Discord](https://support.discord.com/hc/en-us/articles/28084948873623-How-to-Ignore-Users-on-Discord) [PreviousDiscord Tips & Tricks](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks) [NextVideo Highlights](https://docs.optionomega.com/welcome/video-highlights) Last updated 4 months ago * [Quick Rule of Thumb:](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#quick-rule-of-thumb) * [Common Red Flags](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#common-red-flags) * [Safer Ways to Engage Privately](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#safer-ways-to-engage-privately) * [What to Do If You Spot a Scammer](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#what-to-do-if-you-spot-a-scammer) * [Example: Spotting a Scam](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#example-spotting-a-scam) * [Scam Awareness Q&A](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting#scam-awareness-q-and-a) --- # Advanced Options | Option Omega Documentation [Custom Signals Tester](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester) [PreviousPortfolios](https://docs.optionomega.com/backtesting/portfolios) [NextCustom Signals Tester](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester) --- # Verified Channel Guide | Option Omega Documentation ### [](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#verified-channel-guide) Verified Channel Guide ### [](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#text) _**Text**_ **Lobby:** The only posts that should go here are non-subscribers asking a question ### [](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#oo-academy) _**OO-Academy**_ **Class specific discussion channels (only available to paid users of specific classes— not available for all classes)** ### [](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#verified-oo-related) _**Verified-OO-Related**_ **Tests-strats:** Discuss strategies and backtests here **Modeling-help-bugs:** Questions or issues related to the modeling platform **Help-questions-backtesting:** Need help or info about the app? If you’re asking a test-related question– PLEASE post a FULL screenshot of the setup with your question. Also, post a saved link to you’re getting specific ([https://youtu.be/8\_S7hc5oET8](https://youtu.be/8_S7hc5oET8) this will show you how to save & share). **Bugs-errors-backtesting:** This is for errors in the backtesting platform. Please reserve this for BUGS only. “Why did my test do ‘X’ questions should go in the help-questions channel” **Help-questions-automation:** This is for the automation platform only. If you’re asking a strategy-related question– PLEASE post a FULL screenshot of the setup with your question (if you're comfortable sharing publically). **Bugs-errors-automation:** This is for the automation platform only. Please include screenshot with all three rows. Please reserve this for BUGS only. “Why did my test do ‘X’ questions should go in the help-questions channel” **Releases:** updates on releases to the backtester and automation platform [**known-issues:**](https://discord.com/channels/882705067210317915/1377977525933834260) This is where time-sensitive information about the platform is posted. This is a must-follow for automation users. **Releases**: Historical log of updates to the backtester (Archived) **Feedback-suggestions:** [We have a Canny site for feedback. Please make your suggestions there](https://optionomega.canny.io/feature-requests?selectedCategory=automation) . ### [](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#verified-trading) _**Verified Trading**_ **Stock-talk:** Not Index related stock discussion **SPX-talk:** Index-related related discussion **Actual-trades:** If you WANT to discuss actual trades and/or post screenshots, this is the place! As always, no pressure, do your own work– this is for discussion and education only. **Trading-mindset:** Discussion of the mental side **Other-tools:** Non-OO tools should be discussed here. **Resources:** Helpful news, etc. **Lounge:** Casual hangout ### [](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#option-omega-live) _**Option Omega Live**_ **OO-Show:** Start your day with a strategic edge! Join us live every weekday morning at 8:45 AM EST for 'The OO Show', where veteran CBOE market maker Dan Sheridan teams up with the Matt and Troy from Option Omega to dissect the latest market trends and trading opportunities. **Small-account-challenge:** Can a $5,000 account survive the current market? Join us EVERY TUESDAY at 3:30 PM EST as we trade a real money account LIVE. We aren't just showing you the profits—we’re showing you the math, the risk management, and the logic behind every single trade. **Navigation-trading-show:** Join us Tuesdays from 12–1 PM ET as Steve from Navigation Trading teams up with Troy McNeil from Option Omega for a fast-paced, highly actionable market breakdown **Fix-my-backtest: I**s your trading edge real, or just a backtest fluke? Stop guessing and start quantifying. Join us every Tuesday at 10:30 AM EST as we bridge the gap between "good ideas" and "proven strategies". n this weekly series, we sit down with Mark Anderson, Managing Partner at MBH Capital Management and a veteran in the 0-DTE index options space. Known for his "anti-guru" philosophy and mathematical rigor, Mark helps retail traders audit their backtests and build robust, hedge-fund-grade systems. Note: There may be additional archived channels which may still be searchable– but have been archived for various reasons [PreviousRules & Expectations](https://docs.optionomega.com/welcome/discord-community/rules-and-expectations) [NextCommon Abbreviations](https://docs.optionomega.com/welcome/discord-community/common-abbreviations) Last updated 7 days ago * [Verified Channel Guide](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#verified-channel-guide) * [Text](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#text) * [OO-Academy](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#oo-academy) * [Verified-OO-Related](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#verified-oo-related) * [Verified Trading](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#verified-trading) * [Option Omega Live](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide#option-omega-live) --- # YouTube Instructional Videos | Option Omega Documentation Option Omega regularly releases instructional videos featuring new aspects of the product. Stay subscribed for the latest updates. The best way to get started on OO is the [Bootcamp](https://academy.optionomega.com/course?courseid=backtesting-bootcamp) , on [Option Omega Academy](https://academy.optionomega.com/) . We also have an active YouTube Channel: [youtube.com/optionomega](http://youtube.com/optionomega) If you’re a new user, [watch our new user playlist](https://youtube.com/playlist?list=PLTOq6Tx9HnXIquOUNjmJlBfkys51WtBoW) . The [OO101 video](https://youtu.be/LMVRH9236BU?si=fifI-lxOBzgyMsUh) is a shorter, less comprehensive "getting started" video than the Bootcamp, but it will get you going nonetheless. After the OO101, [Make Friend with the Punisher](https://youtu.be/fGp9cuBdRjE?si=Featwj5fDLhVkY_D) is strongly recommended. [PreviousVideo Resources](https://docs.optionomega.com/welcome/video-highlights/video-resources) [NextReal Quicks](https://docs.optionomega.com/welcome/video-highlights/real-quicks) Last updated 1 year ago --- # Cigar Lounge Interviews | Option Omega Documentation In addition to the concept/backtesting breakdown videos, Troy’s had an amazing group of guests on the [Cigar Lounge](https://discord.com/channels/882705067210317915/1081387582400770058) , with more to come. Here’s a growing list of the Cigar Lounge guests, with videos: [Eric from Alpha Crunching](https://youtu.be/Mg2C-JNHqEk) [Tammy Chambless](https://youtu.be/U5LsAFx6GeM) [Ben from Income Options Trading](https://youtu.be/g7zj7dDmX10) [Steve from Navigation](https://youtu.be/wxLJ5DmArf4) [Kirk from Speaking Greeks](https://youtu.be/xsGFKV1givQ) [David from TradeBusters](https://youtu.be/o2O7eKTKDp0) [PreviousReal Quicks](https://docs.optionomega.com/welcome/video-highlights/real-quicks) [NextCigar Lounge Backtest & Concept Videos](https://docs.optionomega.com/welcome/video-highlights/cigar-lounge-backtest-and-concept-videos) --- # Discord Tips & Tricks | Option Omega Documentation ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#getting-started) Getting Started * Take time to observe the flow of conversation and get a feel for the culture of the server. * Before posting, ask yourself: _"Has this already been answered?"_ — often it has, take the featured academy bootcamp courses, check the docs, and try a discord search. * Learn the best practices below for searching, navigating, and sharing work in Discord! ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#locate-the-menu-bar) Locate the Menu Bar In the top-right corner of the Discord app, you'll see a menu bar with several helpful features. From left to right, these include: **Threads**, **Notifications**, **Pinned Messages**, **Member List**, and **Search**. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F2gLcpSD4QMoeAsc6OAz5%252Fimage.png%3Falt%3Dmedia%26token%3Ddb7b78ce-f226-40f6-aae3-efc1b6d44df6&width=768&dpr=4&quality=100&sign=cb4396c8&sv=2) Each of these tools is covered in the sections that follow. Knowing where to find and how to use them will significantly improve your experience in the community. ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#use-search-effectively) Use Search Effectively The search bar in the top-right corner of Discord is one of your most powerful tools. You can filter by **keyword**, **user**, **channel**, and whether a post **includes a link** — making it the fastest way to surface previously shared backtests, strategy discussions, and community Q&A. #### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#a-note-about-keywords) A Note About Keywords Discord search only supports **one keyword or exact phrase at a time**, unlike search engines like Google that are more flexible with combinations. To narrow your results effectively, use filters like **channel**, **user**, and **date**. This helps you cross-reference conversations and locate specific messages more efficiently. If you’re new to Discord search, it may feel limited at first — but with a bit of practice, it becomes quick and intuitive. > Tip: The Common Abbreviations page provides a good list of potential keywords for search. #### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#a-note-about-broken-links) **A Note About Broken Links** Frequently, you may come across shared backtests that no longer work. This usually means the author unshared or deleted the test — often unintentionally, such as during workspace cleanup. To avoid contributing to this issue: **Always share a screenshot** along with your backtest link. This ensures others can still learn from your post, even if the link breaks in the future. Despite the occasional dead link, there are **thousands of active backtests links and screenshots** to explore. With targeted searches and some sifting, there is not shortage of valuble ideas to review. #### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#some-example-searches) Some Example Searches: **Find backtests from the OO Show:** `optionomega.com/share from:troymcneil in:oo-show-discussion` This will return all shared backtests posted by Troy in the OO Show discussion channel. Try the same search with other OO Show contributors like Matt to explore additional posts. Tip: Use the **“Jump”** button on a search result to go directly to the original conversation and read community comments and other inspired backtests. **Find 2–3 DTE Double Calendar backtests:** `2 3 has:link in:test-strats` This search returns any posts that include “2 3” and a backtest link in the `test-strats` channel. Discord ignores punctuation in search, so `2 3`, `2/3`, and `2-3` will all return the same results. You can also try searching `actual-trades` for related posts, depending on whether you're looking for live trading examples or theoretical tests. **Find backtests using a RSI filter:** `RSI has:link in:test-strats` This search returns any posts that include “RSI” and a backtest link in the `test-strats` channel. For further reading on search features see Discord's docs: [https://support.discord.com/hc/en-us/articles/115000468588-Using-Search](https://support.discord.com/hc/en-us/articles/115000468588-Using-Search) #### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#tips-for-browsing-and-bookmarking) **Tips for Browsing & Bookmarking** * Use the **Jump** button in a search result to go directly to the original post and surrounding discussion. * If you're reading through historical or long message threads, click the **three dots (more)** next to a message and select **Copy Message Link**. You can save this in your notes as a bookmark to revisit or resume reading later. ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#navigate-threads) Navigate Threads **Threads** in Discord are sub-conversations that branch off from a specific message within a channel. They help keep the main discussion cleaner by allowing focused conversations to happen without cluttering the primary channel. **How Threads Work** * Threads can be started from **any message** in a channel * By default, **you won’t see** activity in a thread unless you: * Start it * Reply to it * Or **“Join”** to follow it **Finding Threads** * First go to a channel of interest such as `test-strats`, or `actual-trades`, then click the Thread icon to **review the threads** in that channel. * You will be able to see what threads have been recently active, then if a thread looks interesting, **click “Join”** to get notified of future replies and keep up with the discussion. ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#review-pinned-messages) Review Pinned Messages Likewise to threads, every channel may have pinned messages. These are messages that the admins had deemed valuable and have pinned them to make it easier to find. * Pinned messages often include important resources, links, or recent discussions worth reading. * As a new user you should review pinned messages for the primary channels, e.g. `test-strats` ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#notification-settings) Notification Settings Managing your notification settings helps strike the right balance between staying informed and avoiding constant interruptions. You can access notification settings in several ways: * **Right-click** on any channel name, or the server in the sidebar and select **Notification Settings** * While inside a channel, click the **bell icon** in the top right corner From there, you can customize: * Whether you’re notified for **All Messages**, **Mentions Only**, or **Nothing** * Whether to **mute** or **follow** the channel * **Per-channel overrides** that differ from your global (server-wide) notification settings **Important Note on Discord Behavior** Discord handles server- and channel-level notifications in a non-intuitive way: > If the **entire server is muted**, you will not receive badge counts or sounds—**even if individual channels are set to notify for All Messages.** The channel name will highlight when new messages arrive, but you will not hear a sound or see the notification badge. To receive **audible and numbered notifications** (badge icons) for selected channels, you must: 1. **Right-click on server** (OO Icon on left), and confirm these settings: 1. **Sever is not muted** 2. **Notification Settings** is set to All Messages 3. **Show All Channels** is checked 2. Then **mute each individual channel** you _don’t_ want notifications for 3. Leave notification settings on “All Messages” for the channels you _do_ want to monitor If you're using **automation**, we recommend setting `known-issues`, and `releases` to **“All Messages”** After adjusting your settings, always verify that notifications are funtioning as intended. A small investment in tuning your notifications can go a long way in making your Discord experience smoother and more productive. ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#follow-known-issues) Follow [known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) This isn't really a tip— it's an essential! However, in the intrest of over-communicating, we're mentioning it here too! If you're a user of OO, follow [#known-issues on the Discord](https://discord.com/channels/882705067210317915/1377977525933834260) . For automation users especially, this is essential. ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#show-member-list) Show Member List Show and hide the list of community members currently active. ### [](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#anatomy-of-great-backtest-share) Anatomy of Great Backtest Share ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FtKLF7WdcKWNqikBKXBcB%252Fimage.png%3Falt%3Dmedia%26token%3Dbc60c3bf-7453-4f1d-89bd-1f244d4ed2e7&width=768&dpr=4&quality=100&sign=bb07216d&sv=2) * * * This page will continue to grow with more community-proven tips. If you have a suggestion or a common user mistake you’d like to see covered, let us know in the server. [PreviousCommon Abbreviations](https://docs.optionomega.com/welcome/discord-community/common-abbreviations) [NextScam Awareness & Reporting](https://docs.optionomega.com/welcome/discord-community/scam-awareness-and-reporting) Last updated 4 months ago * [Getting Started](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#getting-started) * [Locate the Menu Bar](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#locate-the-menu-bar) * [Use Search Effectively](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#use-search-effectively) * [Navigate Threads](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#navigate-threads) * [Review Pinned Messages](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#review-pinned-messages) * [Notification Settings](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#notification-settings) * [Follow known-issues](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#follow-known-issues) * [Show Member List](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#show-member-list) * [Anatomy of Great Backtest Share](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks#anatomy-of-great-backtest-share) --- # Entry Time Configuration | Option Omega Documentation There are multiple ways to configure entry times in Option Omega to specify a range of entry times. The default is to enter per user settings in a one minute timeframe. If the user wants to allow a longer timeframe, there are two choices, detailed below. Additionally, there is a video segment in [Automation Bootcamp](https://academy.optionomega.com/course/automation-bootcamp) that covers these choices. #### [](https://docs.optionomega.com/automation/entry-time-configuration#floating-entry-time) Floating Entry Time First, for strategies that rely on a time range to see if a certain event takes place during that time range, floating entry is available. Floating entry in the strategies works the same way it does in the backtest. Floating entry rechecks the entry conditions each minute, and thus the strikes and entry prices are also recalculated every minute. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FSrPrVeyTL47SS7wnDHVa%252Fimage.png%3Falt%3Dmedia%26token%3D05447663-73bb-4313-a66e-b5bbbf29cd9c&width=768&dpr=4&quality=100&sign=6bd8fe00&sv=2) Floating Entry (found in Entry Conditions) Typical uses cases for a floating entry include an ORB, a technical level (i.e. an EMA), a pricing filter, intraday movement, etc. The software has been designed so that if a backtest uses floating entry, the strategy will function similarly. If a user wants an entry window, but doesn't have the floating entry use case, the entry window (below) is another option. #### [](https://docs.optionomega.com/automation/entry-time-configuration#entry-window) Entry Window Second, Entry Window (in minutes) is also available entry execution parameter. This allows the automation platform to continue to try to enter a trade, after all entry conditions have been satisfied, for \[x\] minutes. At each minute, the strikes (and thus entry price) will be recalculated. The entry conditions will only be checked initially; once those conditions are satisfied, the platform will continue to attempt to enter each minute during the specified window. This allows strategies with multiple time tranches (additional entry times) to utilize a "window" in case the platform fails to get a fill, or there's a temporary interruption in service, etc. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FX3Q8NMh5NhN90ljPfMbq%252Fimage.png%3Falt%3Dmedia%26token%3D982e4463-69b5-433b-907e-d2d7111b4296&width=768&dpr=4&quality=100&sign=6b1218fc&sv=2) Entry Window (found in Entry Execution) Typical use cases for entry window include tranche/multiple entry strategies. Users may also want to specify an entry window to allow for additional time to fill, due to market movements, an API blip, etc. [PreviousProfit Target and Stop Loss Order Types](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types) [NextTrade Management](https://docs.optionomega.com/automation/trade-management) Last updated 10 months ago --- # Cigar Lounge Backtest & Concept Videos | Option Omega Documentation Cigar Lounge is free hangout on the Option Omega discord. Subscription not required. Cigar Lounge excerpts are exited for content, clarity and length. It’s a casual discussion– not financial advice. You can find the latest annoucements of future Cigar Lounges, as well as discussion, in the free Discord channel [#Cigar-Lounge-Discussion here](https://discord.com/channels/882705067210317915/1017437699273134141) . We’ve got a mix of Backtest/Concept videos on the CL (posted below), as well as a great series of interviews. Some of our most popular topical Cigar Lounges include: Discussion of Double Calendars [Part 1](https://youtu.be/o2O7eKTKDp0?si=pjL4qJbxQ1kawQYH) and [Part 2](https://youtu.be/xENXo7yVCuY?si=_U_Ih-I5QJcyh6k7) [Intraminute Stop Loss](https://youtu.be/zoei70u2P7s?si=UMH7qUHzWRD8mOFm) 2022 Backtests of the Year [Part 1](https://youtu.be/lXw3kmTXH_o?si=IPBXJGcaqUX-_6q7) and [Part 2](https://youtu.be/5WyqcN5OKVU?si=i_-1Aiu68kw1AQdo) 2023 [Backtests of the Year](https://www.youtube.com/live/0Tz0VoTU1sA?si=5nsJU_EExXrTFB8o) [PreviousCigar Lounge Interviews](https://docs.optionomega.com/welcome/video-highlights/cigar-lounge-interviews) [NextFree Trial](https://docs.optionomega.com/welcome/free-trial) Last updated 1 year ago --- # Profit Target and Stop Loss Order Types | Option Omega Documentation [](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#profit-target-types) Profit Target Types -------------------------------------------------------------------------------------------------------------------------------- The standard profit target type (default) is the 1-minute platform-managed check. You can also chose a resting profit target by selecting the option. This will place a brokerage GTC resting limit order for the specific PT. (Note: as described below, you can alternatively have a resting SL order on a SINGLE leg only. If a user chooses to use a resting PT, they cannot also have a resting SL. This is a broker limitation.) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FB5HcwZCV7jNWxfMBWX0h%252Fimage.png%3Falt%3Dmedia%26token%3D73f2b1e4-e3c2-4b04-8ddb-02281b73e135&width=768&dpr=4&quality=100&sign=dcfe53dc&sv=2) [](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#stop-loss-types) Stop Loss Types ------------------------------------------------------------------------------------------------------------------------ The default stop loss is a 1-minute platform-managed check, and is a limit order. ### [](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#intra-minute-stops) Intra-Minute Stops For 0DTE SPX and SPY, you can also chose "Use 0-DTE Intra-Minute Stops" ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FiPg5JJ8RPINVwkRPjnqE%252Fimage.png%3Falt%3Dmedia%26token%3D67bb943a-4ee0-45cb-a144-551559a6bc89&width=768&dpr=4&quality=100&sign=cf95d8b1&sv=2) IMSL on 0DTE SPX/SPY If this option is selection, the automation platform will check stops on a 1-second interval. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F2mA4ZtOMo8kMf9z9aXkq%252Fimage.png%3Falt%3Dmedia%26token%3D48687f7a-bca6-41d2-9d99-4724d5aa493a&width=768&dpr=4&quality=100&sign=f892081c&sv=2) There is an additional option to select minimum consecutive hits. For example, let's say the user wants to execute the stop only if the stop is reached 15 consecutive seconds. The user would enter "15" into this field. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fvkewi11HsFWTbkh154qz%252Fimage.png%3Falt%3Dmedia%26token%3D7428422c-4cc4-44e5-b6f0-b734363be559&width=768&dpr=4&quality=100&sign=379ad0e8&sv=2) Minimum Consecutive Hits ### [](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#resting-stop) Resting Stop There is also an option for resting stops at the broker on single legs only. This is a stop-market order, placed at the brokerage, rather than a platform-managed stop loss. This is available on single legs only. (Note: as described above, a user can alternatively have a resting PT at the broker. If a user chooses to use a resting PT, they cannot also have a resting SL). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FGqVFbEq8zt7XJUTLneVW%252Fimage.png%3Falt%3Dmedia%26token%3D244d35ec-03b7-4220-873e-d96da840d3ec&width=768&dpr=4&quality=100&sign=e4f05ae6&sv=2) Resting Stop #### [](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#oto-one-triggers-other) OTO (One Triggers Other) The automation platform has the ability to close one leg after a resting stop has been triggered on another leg. This feature enables users to place an OTO (One Triggers Other) order, which sets a resting stop market order on one (short) leg of a trade, and triggers a contingent market order on another (long) leg when the first order is executed. The OTO order rests at the broker, with the stop market order active and resting at the exchange, and the second market order being held by the broker in a contingent state until the stop order is filled. To use this feature, you must be using leg groups and resting stop market orders on one group (see below screenshot) (Note: currently available only on Tradier and Schwab) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FSxWqcS3qpUUv886i3Kzi%252Fimage.webp%3Falt%3Dmedia%26token%3D9d9dfb18-7bce-4836-81f5-684a757f7227&width=768&dpr=4&quality=100&sign=608041bd&sv=2) [PreviousStrategy Setup](https://docs.optionomega.com/automation/strategy-setup) [NextEntry Time Configuration](https://docs.optionomega.com/automation/entry-time-configuration) Last updated 4 months ago * [Profit Target Types](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#profit-target-types) * [Stop Loss Types](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#stop-loss-types) * [Intra-Minute Stops](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#intra-minute-stops) * [Resting Stop](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types#resting-stop) --- # Trial FAQ | Option Omega Documentation [](https://docs.optionomega.com/welcome/free-trial/trial-faq#i-want-to-end-the-trial-and-start-my-paid-subscription.-i-cant-find-the-button-to-do-that.-where-is) I want to end the trial and start my paid subscription. I can't find the button to do that. Where is it? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- We can end the trial for you on our end, which will charge your card, start your subscription, and give you full access to the backtester. Just shoot us an email at [\[email protected\]](https://docs.optionomega.com/cdn-cgi/l/email-protection) . [](https://docs.optionomega.com/welcome/free-trial/trial-faq#my-backtest-wont-run.-whats-wrong) My backtest won't run. What's wrong!? ------------------------------------------------------------------------------------------------------------------------------------------ The trial is limited to 2017 data only. Your test won't run if you have any dates outside of this. [](https://docs.optionomega.com/welcome/free-trial/trial-faq#my-backtest-still-didnt-work-a.k.a.-my-test-worked-but-it-doesnt-have-a-trade-i-think-it-should) My backtest still didn't work? (a.k.a. my test worked but it doesn't have a trade I think it should) ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The most common reasons tests don’t runare the following: 1. Not enough Margin to support the trade (typical mostly for selling puts & calls). 2. The exact DTE button is selected, and there were not trades that fit that DTE. 3. The padlock next to the strike legs is selected. This is the exact strike offset — it is padlocked by default but you can uncheck it. If it is left on (default), the trade will only execute if there is an option at that strike. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FKs4ljkeJRawWPUXG0lhR%252FGreen%2520Padlock%2520Exact%2520Strike%2520Offset.png%3Falt%3Dmedia%26token%3D1f6636c1-ccfe-442d-90e5-9df54b8146a6&width=768&dpr=4&quality=100&sign=9ded3d11&sv=2) 1. If you are running a multi-DTE trade, only completed tests will be shown in the trade log by default. You can show tests in progress by closing them early with the "Close Open Trades on Test Completion" button, which is in the Misc Options at the bottom. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FQsYl3W0LslOUozmPhGNt%252FClose%2520Open%2520Trades%2520on%2520Test%2520Completion.png%3Falt%3Dmedia%26token%3D73d0c51f-2932-489d-9195-fb1f466047c0&width=768&dpr=4&quality=100&sign=df094f08&sv=2) [](https://docs.optionomega.com/welcome/free-trial/trial-faq#arrrrgggh.-it-still-didnt-work) ARRRRGGGH. It still didn't work? ---------------------------------------------------------------------------------------------------------------------------------- No problem, we have technical backtest support— just follow the step in this video to unlock the verified channels in the Discord, and please make a post there (share a screenshot of your setup). ### [](https://docs.optionomega.com/welcome/free-trial/trial-faq#do-you-have-any-video-resources) Do you have any video resources? Yes, the best way to get up to speed is Backtesting Bootcamp, on Academy. (Academy requires it's own free login/PW and offers both free and paid courses). We also have a [Trial 101 video here](https://youtu.be/I6a7wCWvdJQ) . [PreviousSample Backtests](https://docs.optionomega.com/welcome/free-trial/sample-backtests) [NextBacktest Setup](https://docs.optionomega.com/backtesting/backtest-setup) Last updated 4 months ago * [I want to end the trial and start my paid subscription. I can't find the button to do that. Where is it?](https://docs.optionomega.com/welcome/free-trial/trial-faq#i-want-to-end-the-trial-and-start-my-paid-subscription.-i-cant-find-the-button-to-do-that.-where-is) * [My backtest won't run. What's wrong!?](https://docs.optionomega.com/welcome/free-trial/trial-faq#my-backtest-wont-run.-whats-wrong) * [My backtest still didn't work? (a.k.a. my test worked but it doesn't have a trade I think it should)](https://docs.optionomega.com/welcome/free-trial/trial-faq#my-backtest-still-didnt-work-a.k.a.-my-test-worked-but-it-doesnt-have-a-trade-i-think-it-should) * [ARRRRGGGH. It still didn't work?](https://docs.optionomega.com/welcome/free-trial/trial-faq#arrrrgggh.-it-still-didnt-work) * [Do you have any video resources?](https://docs.optionomega.com/welcome/free-trial/trial-faq#do-you-have-any-video-resources) --- # Read this first- Brokerage Details | Option Omega Documentation [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-brokers-are-supported) What brokers are supported? ----------------------------------------------------------------------------------------------------------------------------------------- Tradier, Schwab (ToS) and tastytrade are supported. All symbols on OO backtesting are available in all brokers on the automation platform. One login per broker is permitted. There is no OO platform limit on broker sub-accounts in a single broker login. OO uses a cloud based system for the automation platform. Users can login to your broker(s), the automation platform (at optionomega.com), both at the same time or neither. Login status on the broker will not impact the platform's ability to automate. No papertrading is available. [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#recommended-steps-before-going-live-with-a-strategy) Recommended steps before going live with a strategy: ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- While we can’t offer personalized trading advice, we strongly encourage the following steps to set yourself up for success: * Complete [Backtesting Bootcamp](https://academy.optionomega.com/course/backtesting-bootcamp) * Complete [Automation Bootcamp](https://academy.optionomega.com/course/automation-bootcamp) * Review the written documentation (especially the [FAQ](https://docs.optionomega.com/automation/automation-faq) and [Information Station](https://docs.optionomega.com/automation/trade-smart-infostation) pages) * Share your strategy on [Discord](https://discord.com/channels/882705067210317915/961355812297666691) — get feedback from experienced users (if you're worried about privacy, consider changing a few details) * Make sure you're following the [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) Discord channel [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-bot-limit-and-contract-caps-are-in-place) What bot limit and contract caps are in place? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Users are allowed 100 opening executions per day. There is no limit on strategies. There are no contract caps. Different brokers may route/process orders differently depending on size. Users are responsible for understanding order sizing and their chosen brokerage's order routing process. [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-happens-if-there-is-an-automation-platform-outage) What happens if there is an automation platform outage? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- In the event of an automation platform outage, a large banner/error message will be displayed on the dashboard. All automations will be paused. Users will be notified via email. When the automation platform outage is resolved, the automations will resume and users will be notified via email. Note: partial outages, intermittent market data issues or broker API issues will not trigger this response. Additionally, users should follow the [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) Discord channel. [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-is-the-process-with-schwab-api-access) What is the process with Schwab API access? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Users must reauthorize OO platform access every 7 days. This is a brokerage API requirement. When the access has expired, the user will see red banner in the automation platform, with a link to reconnect (a warning notification will appear on the platform prior to expiration). The platform will send email reminders the night before and morning of Schwab access expiration. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FEGJMPQ8KqkD0yLwOIkZ4%252FScreenshot%25202025-05-26%2520at%25209.31.44%25E2%2580%25AFAM.png%3Falt%3Dmedia%26token%3Dc786b57c-4121-4ce6-b4a6-44b9d9f9c0b0&width=768&dpr=4&quality=100&sign=6d9c3157&sv=2) Expiration Notice on the platform [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#undefined) ------------------------------------------------------------------------------------------- [PreviousBacktesting FAQ](https://docs.optionomega.com/backtesting-faq) [NextGetting Started](https://docs.optionomega.com/automation/getting-started) Last updated 4 months ago * [What brokers are supported?](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-brokers-are-supported) * [Recommended steps before going live with a strategy:](https://docs.optionomega.com/automation/read-this-first-brokerage-details#recommended-steps-before-going-live-with-a-strategy) * [What bot limit and contract caps are in place?](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-bot-limit-and-contract-caps-are-in-place) * [What happens if there is an automation platform outage?](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-happens-if-there-is-an-automation-platform-outage) * [What is the process with Schwab API access?](https://docs.optionomega.com/automation/read-this-first-brokerage-details#what-is-the-process-with-schwab-api-access) * [](https://docs.optionomega.com/automation/read-this-first-brokerage-details#undefined) --- # Real Quicks | Option Omega Documentation ### [](https://docs.optionomega.com/welcome/video-highlights/real-quicks#these-are-short-bite-sized-videos-with-a-quick-concept.-if-you-need-a-quick-visual-answer-and-dont-w) These are short, bite-sized videos with a quick concept. If you need a quick (visual) answer, and don't want to watch a full length video, Real Quicks, might be the ticket! Discord Fees Specific Dates Tags Cap Profits (Non Opening) Use Exact DTE Testing Both Side of an Iron Condor (PCS and CCS) Save and Share a Backtest Floating Entry Time Stock Splits Intra-Minute Stops (IMSL) Days to Expiry Double Calendar Resources Bug Reporting Auction Issues [PreviousYouTube Instructional Videos](https://docs.optionomega.com/welcome/video-highlights/youtube-instructional-videos) [NextCigar Lounge Interviews](https://docs.optionomega.com/welcome/video-highlights/cigar-lounge-interviews) Last updated 1 year ago --- # Sample Backtests | Option Omega Documentation We've got two choices for you: The first is our series of 3 YouTube Videos, detailing increasingly complex features in the backtester. Check out [part 1 here](https://youtu.be/jegui1J2wbs) , [part 2 here](https://youtu.be/9w8w9zZ5PS8) , and [part 3 here](https://youtu.be/ET155PiRaWA) . Second,if you prefer written learning, check out this sample QQQ backtest below. For this backtest, we’re going to select QQQ as the ticker to test, and we are going to backtest a double calendar. We’ll be backtesting selling a call & put at 3 DTE, and buying the same strikes at 5 DTE. These backtests simulate a more complex style trade, with the Greeks (and legs of the trade!) going multiple directions! ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FFcI445YQTFN5uTr9dODG%252Fimage.png%3Falt%3Dmedia%26token%3Df8c50dbc-9eae-4309-835d-8a3065ebdcc3&width=768&dpr=4&quality=100&sign=d7a736b4&sv=2) Let’s enter Friday mornings at 9:45. (Reminder, to select Friday just click Weekly=> F on the frequency dropdown. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FuKz6Uwn4oIN5X60ZLSzO%252Fimage.png%3Falt%3Dmedia%26token%3D92bb6b5f-1449-46e1-9324-e2622e8d537f&width=768&dpr=4&quality=100&sign=c6a89b66&sv=2) Our PT will be 30%. We’re not going to set a stop loss right now (more on that later). We’re also going to use a profit action—this simulates scaling out of a trade. At 20% profit, we’ll close half the position. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F2wxoJpR9QPPoC9sYSLWl%252Fimage.png%3Falt%3Dmedia%26token%3D01c4418d-c5ba-4f14-9821-97572a3d2f9f&width=768&dpr=4&quality=100&sign=f84efb7&sv=2) Now, let’s look at the exit conditions. Instead of using a SL, we’ll have an early exit. Additionally, we’ll put some guide-rails around movement, in this case exiting the trade if the short leg (either put or call) goes 1 “past” (-1 in the below fields) on the underlying QQQ. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FXiGTt2WvqV9lb9a7Gabp%252Fimage.png%3Falt%3Dmedia%26token%3D377b17e1-f639-4c65-86ef-8736c78e3d17&width=768&dpr=4&quality=100&sign=7c0f26ec&sv=2) Finally, we’ll add some “standard” misc options, including slippage, commissions and more, as below! ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FkIKlVHnv8G2v85angnR2%252Fimage.png%3Falt%3Dmedia%26token%3D001e5998-c20a-4664-bf2f-a9cc2459f7bb&width=768&dpr=4&quality=100&sign=59621e61&sv=2) Then we’ll run the test! ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fzpu1lr0IE0v2cIIoNbvU%252Fimage.png%3Falt%3Dmedia%26token%3D4fdeae78-0f1f-42e6-bc7e-c78de90c7b79&width=768&dpr=4&quality=100&sign=7380be5e&sv=2) Here is the result! ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fuv0RB9iZb8wHDv3owD60%252Fimage.png%3Falt%3Dmedia%26token%3Da97f0805-d5e3-406f-bd58-c29e8d9a39a8&width=768&dpr=4&quality=100&sign=8403eee3&sv=2) Now, let’s save the backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FkWHOrprMaEHoLEd8Zin5%252Fimage.png%3Falt%3Dmedia%26token%3Df28e43ed-8dae-4544-856e-e63c2d711502&width=768&dpr=4&quality=100&sign=7341a8c1&sv=2) Since we enabled sharing we now have a link that other subscribers can use the view our backtest: [https://optionomega.com/share/jotBiMA6SNAP03brD6zD](https://optionomega.com/share/jotBiMA6SNAP03brD6zD) Once we’ve named and saved the backtest, we can now something neat– we can run a portfolio of multiple tests! ### [](https://docs.optionomega.com/welcome/free-trial/sample-backtests#lets-do-a-portfolio) Let’s do a portfolio! We’ll start with backtest we just created: [https://optionomega.com/share/jotBiMA6SNAP03brD6zD](https://optionomega.com/share/jotBiMA6SNAP03brD6zD) and put it in a portfolio with a second backtest that we have saved: [https://optionomega.com/share/wMO4VijkjmfMBnbjzyAv](https://optionomega.com/share/wMO4VijkjmfMBnbjzyAv) Tip: If somebody shares you a link like this, just click “New Backtest” and re-run the backtest yourself—you can then save or modify it however you would like! Now that we have 2 backtests saved, let’s click, Portfolio= > New Portfolio ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FHIhzsw8RuJejjCUFHdDD%252Fimage.png%3Falt%3Dmedia%26token%3Da01935d0-7d51-47df-b1dc-8e2c467aad8b&width=768&dpr=4&quality=100&sign=b60f08c3&sv=2) We’re going to select both tests—and run them at a 20% allocation, from May 16th 2022 to July 17th, 2023. Note—with portfolio, the dates you select in the portfolio screen, as well as allocation and max contracts, will OVERRIDE the test conditions. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FVnYreg6ocgU0YAwPxNLb%252Fimage.png%3Falt%3Dmedia%26token%3D33b618f2-9d4f-4cbb-8bcd-7931f3a54de1&width=768&dpr=4&quality=100&sign=28a539e7&sv=2) Run it and there you go—your first portfolio! It’s no problem to combine tickers, different styles, etc. of backtests in a portfolio. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FNaTcup7oCY8eSrKHg8pJ%252Fimage.png%3Falt%3Dmedia%26token%3Ddedc2f73-9144-4144-b9a7-7df29d7b6bc4&width=768&dpr=4&quality=100&sign=2323be09&sv=2) In a portfoio you can now easily review the individual strategies, along with the trade log (all the trades from all the individual strategies), as well as the combined daily P/L and drawdown for all the strategies together. Finnaly, the portfolio may be saved and shared in the same way as the backtests! As always, we have plenty more resources on our [YouTube channel.](http://youtube.com/optionomega) This [one on portfolios is a good place to start](https://youtu.be/setuUdiYrFk) , and here’s [one specifically on portfolio allocation](https://youtu.be/-pj-zXzuSak) . [PreviousFree Trial](https://docs.optionomega.com/welcome/free-trial) [NextTrial FAQ](https://docs.optionomega.com/welcome/free-trial/trial-faq) Last updated 4 months ago --- # Trade Smart: InfoStation | Option Omega Documentation [](https://docs.optionomega.com/automation/trade-smart-infostation#id-390-profession-order-rule) 390 Profession Order Rule ------------------------------------------------------------------------------------------------------------------------------- The 390 Professional Orders Rule classifies options traders as "Professional" based on their order volume. This requirement, imposed by U.S. options exchanges, ensures retail traders maintain order execution priority over high-volume traders. Averaging 390 or more options orders (across all exchanges) per day during any calendar month triggers "Professional" classification for the following calendar quarter. All submitted orders count toward this threshold, including filled, cancelled, and rejected orders. Multi-leg spread strategies count as single orders. Orders from traders classified as "Professional" are treated the same as broker-dealer orders for execution priority and fees. [Additional information can be found here.](https://support.tastytrade.com/support/s/solutions/articles/43000435379#:~:text=What%20does%20this%20magic%20number,390%20in%20the%20rule's%20title.) _Note: The 390 threshold corresponds to the 390 minutes in a standard trading day (9:30 AM to 4:00 PM Eastern Time), representing the theoretical maximum of one order per minute throughout the trading session._ [](https://docs.optionomega.com/automation/trade-smart-infostation#trading-u.s.-options-as-a-non-u.s.-citizen) Trading U.S. options as a non-U.S. citizen -------------------------------------------------------------------------------------------------------------------------------------------------------------- Non-U.S. citizens trading U.S. options typically need tax-residency documentation on file with their broker (such as W-8 series forms). Without such documentation, brokers may be required by law to apply withholding taxes on certain U.S.-based payments/income. Treatment can vary by instrument type and by any applicable tax treaties. Specific requirements, rates, and processes are determined by applicable laws and regulations and your broker’s policies and may change over time. _Note: This section is for general information only and is not tax, legal, or investment advice._ [](https://docs.optionomega.com/automation/trade-smart-infostation#quantity-50-orders-on-schwab) Quantity 50 Orders on Schwab ---------------------------------------------------------------------------------------------------------------------------------- Users have reported instances where Schwab (ToS) will manually fill orders over quantity 50. This may have an impact on automation, and users may wish to limit sizing below 50, or reach out to Schwab for clarification on their individual accounts settings for manual fills. [](https://docs.optionomega.com/automation/trade-smart-infostation#api-broker-platform-issues) API/Broker/Platform issues ------------------------------------------------------------------------------------------------------------------------------ Users of the automation platform should be following the [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) channel on the Discord. [](https://docs.optionomega.com/automation/trade-smart-infostation#assignable-tickers) Assignable Tickers -------------------------------------------------------------------------------------------------------------- Automating options trades with assignable tickers (i.e. non index options— examples being SPY, IWM, QQQ, Apple, Tesla) carries inherent complexity due to assignment risk. Brokers handle this differently. End of day trading/holding of these symbols can increase complexity and risk depending on the user's account size. [](https://docs.optionomega.com/automation/trade-smart-infostation#execution-speed) Execution Speed -------------------------------------------------------------------------------------------------------- The OO automation platform allows rapid order iterations. One second modifications (for entry or exit) may be too fast for some brokers, depending on the user's location and connections. [](https://docs.optionomega.com/automation/trade-smart-infostation#changing-account-updating-active-strategies-with-open-trades) Changing Account/Updating Active Strategies with Open Trades -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- To modify account assignment or update an active strategy with open trades: * Create/Copy and activate your new strategy with desired changes and account assignment * Select _"Pause Opening Trades"_ on the original (old) active strategy with open trades * Wait for all existing trades to close in the original strategy * Deactivate the original strategy (use _"Halt Management"_ only if you plan to manually manage remaining trades) _Note: Ensure your new strategy is active before pausing the original one. After deactivating the original strategy, you can archive it_ — _this will keep the results in the Reporting. If you remove the deactivated strategy, you will permanently delete all associated data from Reporting._ _Note: For an active Strategy that does not have live trades, you can simply choose "Edit Strategy" and "Save"._ [](https://docs.optionomega.com/automation/trade-smart-infostation#knowledge-base) Knowledge Base ------------------------------------------------------------------------------------------------------ In the time the automation platform has been live, we've seen some situations that aren't common enough for the FAQ but still warrant a mention; these are listed below. We will regularly add to this list. User Question Insight Two trades cancelled each other and I have move exact strike offset selected. Why? This can happen if the user has trades that will overlap enter at the same minute. Users can change timing or the account of a trade where this could happen. Pricing is different between OO and broker on the spreads. Why? Brokers typically use average cost for the same strike in multiple trades-- OO uses the actual price the option cost. Why did my trade not open? Go to the strategy page, click activity log, and then "show debug". This is the first step, and usually has the answer. Why did my order fail a preflight check? The preflight check is not related to the API-- you should be able to find the answer by following the activity long instructions above. If not, call your broker. Why did my order fail an order preview? The order preview is not related to the API-- you should be able to find the answer by following the activity long instructions above. If not, call your broker. Why did my order get cancelled by your broker? Reasons vary- call your broker. The broker closed my order early on SPX? Why? Reasons vary- call your broker. Brokers view risk differently by broker. Brokers typically view risk by total account, not groupings of invidiual trade structures. The broker closed my order early on QQQ/SPY/etc.? Why? Reasons vary- call your broker. Brokers view risk differently by broker. Assignable securities have additional risks. Brokers typically view risk by total account, not groupings of individual trade structures. Management was halted. Why? Reasons vary-- once an automated strategy is halted, the automation platform will no longer manage it, and the user needs to manage. [PreviousAutomation FAQ](https://docs.optionomega.com/automation/automation-faq) [NextSetup and Use](https://docs.optionomega.com/modeling/setup-and-use) Last updated 2 months ago * [390 Profession Order Rule](https://docs.optionomega.com/automation/trade-smart-infostation#id-390-profession-order-rule) * [Trading U.S. options as a non-U.S. citizen](https://docs.optionomega.com/automation/trade-smart-infostation#trading-u.s.-options-as-a-non-u.s.-citizen) * [Quantity 50 Orders on Schwab](https://docs.optionomega.com/automation/trade-smart-infostation#quantity-50-orders-on-schwab) * [API/Broker/Platform issues](https://docs.optionomega.com/automation/trade-smart-infostation#api-broker-platform-issues) * [Assignable Tickers](https://docs.optionomega.com/automation/trade-smart-infostation#assignable-tickers) * [Execution Speed](https://docs.optionomega.com/automation/trade-smart-infostation#execution-speed) * [Changing Account/Updating Active Strategies with Open Trades](https://docs.optionomega.com/automation/trade-smart-infostation#changing-account-updating-active-strategies-with-open-trades) * [Knowledge Base](https://docs.optionomega.com/automation/trade-smart-infostation#knowledge-base) --- # Custom Signals Tester | Option Omega Documentation ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#heads-up) “Heads-up” The CSV tester is an advanced option! We strongly recommend [watching this video on it,](https://youtu.be/tmDN7BSbGdU) before you do anything else! If you are using EXCEL, please note, however, that it has auto-formatting on by default for dates & times. This will need to be turned off to get proper formatting. Many users have better luck with Google Sheets, IOS Sheets, etc. etc. Again, the CSV tester is an advanced option, and is not on by default. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#unlocking-the-advanced-options) Unlocking the Advanced Options This feature is gated behind the advanced options toggle. To get to it, click on the portrait in the upper right hand corner of the app, as noted by the white arrow in the screen shot below. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FWhNoWql9xnFZj1oiaIk8%252Fwhite-arrow-1024x353.jpg%3Falt%3Dmedia%26token%3Da2fc3d97-f3e9-4aba-98b9-6610b8f697b2&width=768&dpr=4&quality=100&sign=3b7f179d&sv=2) Then, click Preferences, and the toggle on “Show Advanced Options”. Then, PLEASE click “Update Preferences” ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FqR7AuHpjYJMkgiXI1GHa%252FPreferences.png%3Falt%3Dmedia%26token%3D1c4c2a41-1228-4270-96b3-6eac4fd064c9&width=768&dpr=4&quality=100&sign=1d9a6c36&sv=2) ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#a-note-on-excel) A Note on EXCEL: Microsoft Excel is an extremely popular spreadsheet manager. Please note, however, that it has auto-formatting on by default for dates & times. This will need to be turned off to get proper formatting. Many users have better luck with Google Sheets, IOS Sheets, etc. etc. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#custom-signals-tester-basics) Custom Signals Tester Basics The custom signals tester is a CSV upload option that replaces some of the standing backtesting options. It allows you to bring some amount of information into the tester, and backtest those user-generated signals. Common use cases include: 1. Special indicators developed for certain combinations of market movements and/or timing 2. Advanced TA situations 3. Custom charting applications In real terms, this section allows the user to use their own data via a CSV upload and backtest it in order to tweak profitability, exit conditions, position sizing, etc. etc. It is considered an advanced feature, and because it requires a higher level of technical expertise, it not turned on by default. Before we get into the four different choices for the tester, let’s look at the maximum amount of information required. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FdlnNazslx0ISfJnvJ1g9%252Fimage-11.png%3Falt%3Dmedia%26token%3Db4cabeac-ec37-43f0-ae95-1f6c6c304342&width=768&dpr=4&quality=100&sign=9047f4d5&sv=2) Above is a custom list of signals for SPY. When the correct procedure is followed (as detailed below– this is the final option when all three choices on the signals settings are selected), the user will be testing entry and exit times, along with a mixed strategy of buying and selling puts and calls at various strikes. This is the most complicated format, and simpler variations are available. The signals tester is extremely powerful– it allows deep testing of multiple intraday trades mixing and matching various strategies and situations. It is not for the faint of heart or new tester, but can provide optimization at a high level. Some basics: The formats must be followed exactly! This is essential. Improper formatting– including punctuation- will result in a lot of frustration and time wasting. In each section we’ve provided sample CSV files, where the data can be removed and customized per individual requirements. Some tools (including Excel), may open the provided CSV’s and default them to a different format. A settings change may be required (most typically to have the date in an ISO format). The OPEN\_DATETIME and CLOSE\_DATETIME columns must be exactly formatted. The requirement is an ISO formatted date, a space, and then 24 hour time format with hours and minutes only. Example: `2022-10-26 13:45` The BUY\_SELL column must be either a B or S. The CALL\_PUT column must be either a C or P. The STRIKE must be numerical– please make sure this strike exists at this date and time! The EXPIRATION column must be an ISO formatted date. Example: `2022-10-26` The QUANTITY must be a positive whole integer. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#csv-file-upload-settings) CSV File Upload Settings This section is now unlocked and displayed the the very bottom of the backtest creation. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FOZLnOrPZFVamElYCDDCb%252FCSV%2520File%2520Upload%2520Settings.png%3Falt%3Dmedia%26token%3D74a3cd99-f381-40c5-9ee6-322755e25a11&width=768&dpr=4&quality=100&sign=b1b69e72&sv=2) Once you select the option to use it, you will then see two additional choices. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FhvUNtcmKpIGmlvyvoZnD%252FTwo%2520Additional%2520Choices.png%3Falt%3Dmedia%26token%3De5256cdd-e560-4231-9fdf-81517d05abaf&width=768&dpr=4&quality=100&sign=3adda439&sv=2) The custom signals tester allows several different versions of data upload at file, at the user’s discretion. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-times-only) Testing entry times only The most basic use of the custom signals tester is for an entry time only. When the first option is selected, this allows the user to upload a CSV which specifies the trade open date and time ONLY. The date and time MUST be in the below picture format. Click below for a sample .CSV file that can be used and modified. 85B [signals\_open\_only.csv](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2Fo8Q9NOaokyYCPD0bhb3F%2Fsignals_open_only.csv?alt=media&token=6225b74e-0f5b-425a-b6cc-fc777c858d44) Download[Open](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2Fo8Q9NOaokyYCPD0bhb3F%2Fsignals_open_only.csv?alt=media&token=6225b74e-0f5b-425a-b6cc-fc777c858d44) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9hidYZIgfhR91rFvDHwP%252FOpen_Datetime.png%3Falt%3Dmedia%26token%3D41a33b5e-1fea-47bf-baa1-404ca58a5395&width=768&dpr=4&quality=100&sign=e1f5b238&sv=2) Please note– when using this option– ALL of the normal minimum selections that are required to run a backtest STILL need to be input in the backtester, including ticker, strikes, etc. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-and-exit-times) Testing entry and exit times ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FjOOPcUEAMC8z38IdremE%252FTesting%2520entry%2520and%2520exit%2520times.png%3Falt%3Dmedia%26token%3D48717362-5d9d-4d77-8321-86a5d079cbfc&width=768&dpr=4&quality=100&sign=143f7c9d&sv=2) When the first two options are selected, the custom signals tester will use both entry AND exit times. This allows the user to upload a CSV which specifies the dates and times ONLY. The date and time MUST be in the below picture format. Click below for a sample .CSV file that can be used and modified. 168B [signals\_exit.csv](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2FfoPfGaaT4EIgqX3dVLZl%2Fsignals_exit.csv?alt=media&token=462f641e-874a-4d34-ad9a-7a1ac5d2156b) Download[Open](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2FfoPfGaaT4EIgqX3dVLZl%2Fsignals_exit.csv?alt=media&token=462f641e-874a-4d34-ad9a-7a1ac5d2156b) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FUhbwD5GmEV6q8nq9MWSB%252FOpen%2520Close%2520DateTime.png%3Falt%3Dmedia%26token%3Dab5828f7-4cd3-4133-a762-9a389c90e95d&width=768&dpr=4&quality=100&sign=fbc9f0b9&sv=2) Please note– when using this option– ALL of the normal minimum selections that are required to run a backtest STILL need to be input in the backtester, including ticker, strikes, etc. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-times-and-strikes) Testing Entry Times and Strikes ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FT4QrYlT2TiIyu3I8M5od%252FTesting%2520Entry%2520Times%2520and%2520Strikes.png%3Falt%3Dmedia%26token%3D14896044-a434-412c-9347-8bb0675cc56a&width=768&dpr=4&quality=100&sign=44d78e1&sv=2) When the first and third options are selected, the user can test the entry time, and strike selection. The below information is required, and must be in the format exact detailed below. Click below for a sample .CSV file that can be used and modified. 222B [signals\_strikes.csv](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2F3jrKyATAg5IcanmX3P8L%2Fsignals_strikes.csv?alt=media&token=601ba516-6065-4ee8-8c07-2f821ff08c68) Download[Open](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2F3jrKyATAg5IcanmX3P8L%2Fsignals_strikes.csv?alt=media&token=601ba516-6065-4ee8-8c07-2f821ff08c68) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FB9pvjlaMPFxAhT5y1bCm%252FA%2520through%2520F%2520Columns.png%3Falt%3Dmedia%26token%3D7b6cc7f2-0695-419b-9934-4452213e5eca&width=768&dpr=4&quality=100&sign=2c25928b&sv=2) As in the above sections, ALL of the normal minimum selections that are required to run a backtest STILL need to be input, test date range, ticker, etc. etc. ### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-times-exit-times-and-strikes) Testing Entry times, Exit times & Strikes ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FQSnF1invzo0ziPgL1r3M%252FTesting%2520Entry%2520times%252C%2520Exit%2520times%2520%2526%2520Strikes.png%3Falt%3Dmedia%26token%3D7627e433-3a6b-406c-bc0e-ad2859a0cc42&width=768&dpr=4&quality=100&sign=93d16843&sv=2) When all three choices are selected, the user can test the entry time, exit time, and strikes. This choice requires the most amount of data in the .CSV file. The below information is required, and must be in the format exact detailed below. Click below for a sample .CSV file that can be used and modified. 305B [signals\_exit\_and\_strikes.csv](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2FqpG5GFZkckq13xPgT7uX%2Fsignals_exit_and_strikes.csv?alt=media&token=9bcc3fa9-3b8a-4bf8-bc7b-763a4b6c52c3) Download[Open](https://3473746390-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRCx0eCiBCDnwmdd7LImD%2Fuploads%2FqpG5GFZkckq13xPgT7uX%2Fsignals_exit_and_strikes.csv?alt=media&token=9bcc3fa9-3b8a-4bf8-bc7b-763a4b6c52c3) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FkmHCfYth716cK7BJ3eCO%252Fimage.png%3Falt%3Dmedia%26token%3Dd4bbf904-4f87-414d-be4e-5fb051d0d3d8&width=768&dpr=4&quality=100&sign=a1db42dc&sv=2) [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#misc-notes) Misc Notes -------------------------------------------------------------------------------------------------------------- Microsoft Excel is an extremely popular spreadsheet manager. Please note, however, that it has auto-formatting on by default for dates & times. This will need to be turned off to get proper formatting. Many users have better luck with Google Sheets, IOS Sheets, etc. etc. If there are multiple entries that have the same strike and entry time, the tester will group like strikes together. #### [](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#iso-format) ISO format ISO date format requires strict formatting as YYYY-MM-DD — always use four digits for the year and two digits for both month and day, zero-padding single digits (01, 02, 03, etc.). Time must be in 24-hour format with two digits each for hours and minutes. For example, 13:30 for 1:30pm, 14:00 for 2:00pm, 15:55 for 3:55pm. [PreviousAdvanced Options](https://docs.optionomega.com/backtesting/advanced-options) [NextBacktesting FAQ](https://docs.optionomega.com/backtesting-faq) Last updated 1 month ago * [“Heads-up”](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#heads-up) * [Unlocking the Advanced Options](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#unlocking-the-advanced-options) * [A Note on EXCEL:](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#a-note-on-excel) * [Custom Signals Tester Basics](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#custom-signals-tester-basics) * [CSV File Upload Settings](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#csv-file-upload-settings) * [Testing entry times only](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-times-only) * [Testing entry and exit times](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-and-exit-times) * [Testing Entry Times and Strikes](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-times-and-strikes) * [Testing Entry times, Exit times & Strikes](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#testing-entry-times-exit-times-and-strikes) * [Misc Notes](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester#misc-notes) --- # Contact Us/ Support | Option Omega Documentation Option Omega does not offer phone support, but we are easy to get ahold of! If you need help upgrading/changing your plan, password, etc., (i.e. account/subscription support) please email us at [\[email protected\]](https://docs.optionomega.com/cdn-cgi/l/email-protection) . If you need backtesting/technical support— please do not email for technical questions— we have staffed Discord channels for chat support. [Invite is here](https://discord.gg/s5HG3ECUE4) . (And of course, please follow [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) if you're on the automation platform.) You self verify by putting your discord username in the "discord username" field on optionomega.com That will grant you access to the verified channels. Watch this 1 minute video how to do this: [PreviousModeling FAQ](https://docs.optionomega.com/modeling/modeling-faq) Last updated 4 days ago --- # Trade Management | Option Omega Documentation There are several options for trade management if you want to manually adjust a trade. Video content on trade management is covered in [Automation Bootcamp on Academy](https://academy.optionomega.com/course/automation-bootcamp) . ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FbXq7TKXyEI7W5ucuiH6L%252Fimage.png%3Falt%3Dmedia%26token%3Dc97e5397-a6bc-4e37-8c2b-3909ef244d71&width=768&dpr=4&quality=100&sign=ab7211f9&sv=2) Trade Management [](https://docs.optionomega.com/automation/trade-management#deactivate-a-strategy) Deactivate A Strategy ------------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F1GHlIVnKTbMLBQ6nw8mH%252Fimage.png%3Falt%3Dmedia%26token%3D66369756-e3b0-4a28-aebc-0d7eadc03b66&width=768&dpr=4&quality=100&sign=2bb4fc77&sv=2) Deactivate a Strategy You can choose to deactivate a strategy. This is in the "Edit Strategy" slider. If you deactivate an active trade, any remaining trades will be unmanaged by the automation platform. Any currently open trades will not be reported in the automation platform. Future Trades will not be opened. [](https://docs.optionomega.com/automation/trade-management#close-trade-now) Close Trade Now ------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FyjS2fmx8E3xRCo67sPKw%252Fimage.png%3Falt%3Dmedia%26token%3D44fe7aa3-d880-4c84-9ef9-b2d3ed7290b9&width=768&dpr=4&quality=100&sign=2ea3fe55&sv=2) Close Trade Now If you close on the three dots next to an active trade in the "Live " page, you will see an option to "Close Trade Now". This impacts this trade only. After closing in the brokerage, future trades will continue to be automated, and the closed trades will be listed in reporting. When you select "Close Trade Now", there are additional choices to select. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fn2hdhQlmE2PZPrq02Jfv%252Fimage.png%3Falt%3Dmedia%26token%3De5dc45be-e630-48fc-82a6-51ccc8c4e2ca&width=768&dpr=4&quality=100&sign=cddd51aa&sv=2) Close Trade Options You can select a partial position, or the entire position. Additionally, you can use a market order. Alternatively, you can use a limit order, and set the execution parameters, with an option to switch to a market order after "x" attempts are exceeded. [](https://docs.optionomega.com/automation/trade-management#halt-management) Halt Management ------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FuoHguPRsLPQZJ2Apgl4m%252Fimage.png%3Falt%3Dmedia%26token%3D04d6d903-74a9-464c-8ca9-4ddd85bf8625&width=768&dpr=4&quality=100&sign=1232dd70&sv=2) Halt Management If you close on the three dots next to an active trade in the "Live " page, you will see an option to "Halt Management". ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F1ueNqyP0HfOUX0T6k815%252Fimage.png%3Falt%3Dmedia%26token%3D03415ca4-c8e9-443d-8e6c-32563d34916f&width=768&dpr=4&quality=100&sign=34d204bb&sv=2) You will get a confirmation prompt informing you that the automation will halt management and reporting of the current trade, but future trades will still be automated. Resting broker orders will not be impacted by halting management. _Note: Halt Management will irreversibly stop the automation from managing the trade, and there will be no way to re-enable the management again._ If the user has a halted order, later the exit price can be manually input by clicking on the "Management Halted" field (under the reason for close column) on the strategy page. The user can enter the closing price, along with other information, if desired. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FCrBOiwVBg2JiUwvIvAKM%252Fimage.png%3Falt%3Dmedia%26token%3D48ee5ead-40e4-4d70-91c8-b1d95402629a&width=768&dpr=4&quality=100&sign=e1ccc6f5&sv=2) [](https://docs.optionomega.com/automation/trade-management#pause-all-trading) Pause All Trading ----------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FS71X8TFaKrL4IeGAGqGM%252Fimage.png%3Falt%3Dmedia%26token%3Dab41b33e-266e-4e61-b047-aac5c38cd7b1&width=768&dpr=4&quality=100&sign=18d3ad0f&sv=2) Pause All Trading If you click on the three dots to the right of the purple icons on the Live page, you will get an option to pause all trading. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FHNt1q3qSQy9eT7qArq4A%252Fimage.png%3Falt%3Dmedia%26token%3D89ca1adf-7fb3-4807-8371-1e2d21149a00&width=768&dpr=4&quality=100&sign=a8850cc3&sv=2) Pause All Trading dialog **No** open trades will be managed by the automation platform as long as "_Pause All Trading_" is active. **No** new positions will be opened by the automation platform as long as "_Pause All Trading_" is active. _Note: When "Pause All Trading" is active, broker resting orders are_ _**not impacted.**_ _(The automation will not do the resting order health checks, i.e. when the automation runs checks to make sure the broker still has resting orders "on"). If an order was closed while the "Pause All Trading" was active, the automation will pick up the closing order after "Reactivate Trading"._ _Note: After "Reactivate Trading" (all trading unpaused) is selected, the automation will resume the active trade management._ ### [](https://docs.optionomega.com/automation/trade-management#pause-opening-trades-pause-an-individual-trade) Pause Opening Trades (Pause An Individual Trade) You can also pause individual trades from the strategy screen by selecting "Pause Opening Trades". All currently open/live trades will continue to be managed by the platform. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FngPtpx5bTyB6fl0kUZyr%252Fimage.png%3Falt%3Dmedia%26token%3D54e0a93a-5412-4152-9511-82ab701975bb&width=768&dpr=4&quality=100&sign=dad5e09a&sv=2) Pause Opening Trade [](https://docs.optionomega.com/automation/trade-management#pause-opening-new-trades) Pause Opening New Trades ------------------------------------------------------------------------------------------------------------------- Users can select this to pause the platform from opening new trades, while continuing to allow the platform to manage open positions ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FDog2u1xAni36LBdrysIW%252Fimage.png%3Falt%3Dmedia%26token%3D225bd143-57af-4b4d-886a-660e01d3c2e3&width=768&dpr=4&quality=100&sign=eb8face0&sv=2) [](https://docs.optionomega.com/automation/trade-management#edit-exit-conditions) Edit Exit Conditions ----------------------------------------------------------------------------------------------------------- Users can edit the exit conditions (including execution parameters) for live trades. This is done by clicking the three dots, which brings up "Edit Exit Conditions", along with other choices. _Note of caution with this: there are certain variables (current profit target, current stop loss) that are tracked and modified over time due to trailing stops, time/profit actions, etc. If the user modifies the P/L or Time Actions section of a live trade, the tracked variables will be reset._ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FORzW8izSCtY5d6GoGRcT%252Fimage.webp%3Falt%3Dmedia%26token%3Db14530c1-573d-4f9b-90c2-513297b9b6bd&width=768&dpr=4&quality=100&sign=eec7778d&sv=2) Edit Exit Conditions [](https://docs.optionomega.com/automation/trade-management#open-trade-now) Open Trade Now ----------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FgrlhREgS3wh3PMbm9DXx%252Fimage.png%3Falt%3Dmedia%26token%3Dcde6b86f-dca7-4a82-b83a-0a7512ac65be&width=768&dpr=4&quality=100&sign=f67f0ef6&sv=2) If you want to manually open a trade, click "Open Trade Now". This option will appear when a strategy is saved and active (but it can be paused). "Open Trades Now" will skip the normal entry conditions and launch a strategy immediately. _Note: "Open Trade Now" will respect "Use Exact DTE"_ You can set the quantity/allocation, as well as entry execution parameters. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FLjB3oa7rFXyDFXKINF3q%252Fimage.png%3Falt%3Dmedia%26token%3D3adb68ec-9ca7-42fe-a687-dcb6e3915eb4&width=768&dpr=4&quality=100&sign=ea6469b3&sv=2) [](https://docs.optionomega.com/automation/trade-management#underlying-opening-and-closing-price-after-manual-entry-open-trade-now-exit-close-trade-now) Underlying Opening and Closing Price after Manual Entry (Open Trade Now) / Exit (Close Trade Now) --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- When the user initiates a manual entry or exit of the trade, the automation platform will use the values for the opening price and closing price of that particular minute when the entry or exit is initiated. For example, if the user hits Open Trade Now / Close Trade Now at 09:59:58, the automation will use the value of the underlying at 09:59:00 for the opening price or closing price, and leg selection conditions, e.g. strike offset, delta. [PreviousEntry Time Configuration](https://docs.optionomega.com/automation/entry-time-configuration) [NextAutomation FAQ](https://docs.optionomega.com/automation/automation-faq) Last updated 1 month ago * [Deactivate A Strategy](https://docs.optionomega.com/automation/trade-management#deactivate-a-strategy) * [Close Trade Now](https://docs.optionomega.com/automation/trade-management#close-trade-now) * [Halt Management](https://docs.optionomega.com/automation/trade-management#halt-management) * [Pause All Trading](https://docs.optionomega.com/automation/trade-management#pause-all-trading) * [Pause Opening Trades (Pause An Individual Trade)](https://docs.optionomega.com/automation/trade-management#pause-opening-trades-pause-an-individual-trade) * [Pause Opening New Trades](https://docs.optionomega.com/automation/trade-management#pause-opening-new-trades) * [Edit Exit Conditions](https://docs.optionomega.com/automation/trade-management#edit-exit-conditions) * [Open Trade Now](https://docs.optionomega.com/automation/trade-management#open-trade-now) * [Underlying Opening and Closing Price after Manual Entry (Open Trade Now) / Exit (Close Trade Now)](https://docs.optionomega.com/automation/trade-management#underlying-opening-and-closing-price-after-manual-entry-open-trade-now-exit-close-trade-now) --- # Automation FAQ | Option Omega Documentation [](https://docs.optionomega.com/automation/automation-faq#i-want-to-tell-what-happened-with-a-trade.-is-there-a-way-for-me-to-see-what-the-automation-platform) I want to tell what happened with a trade. Is there a way for me to see what the automation platform did or did not do? How can I get more information? ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Yes, users can answer most questions with the Activity Log. Select the "Include Debug" at the bottom of the panel and get additional information, such as entry filters that were met or not met. This can also provide more information about fills, error messages, etc. Note: There is an activity log on the main page, but this has fewer details than the activity log on the strategy page itself. If a user is trying to diagnose what happened with a trade, the first step is navigate to the strategy itself, then select Activity Log W/Debug. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3BvynaakBqXKPz9YHB0k%252Fimage.png%3Falt%3Dmedia%26token%3D21e81904-7647-4c4b-bbb6-1f392c19f7bd&width=768&dpr=4&quality=100&sign=378d0b8a&sv=2) Activity Log (Clock Button, second from left) Note: if a user wants to see the log entries for a previous day's strategy, the easy way to do this is view the individual strategy's activity log, which can be accessed by selecting the webpage for the individual strategy, and "View Activity Log". As above, selecting "Include Debug" will give additional context. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FwY3ETk61gl6dSBlIY5mM%252Fimage.png%3Falt%3Dmedia%26token%3Dfc76537b-56cc-4015-926c-4535c0d463c8&width=768&dpr=4&quality=100&sign=2f72e0ad&sv=2) [](https://docs.optionomega.com/automation/automation-faq#is-there-a-way-to-alert-me) Is there a way to alert me? ---------------------------------------------------------------------------------------------------------------------- You can configure email alerts in Settings⇒ Trading. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FJqV1nr0Chd5Wz7DfjVOd%252Fimage.png%3Falt%3Dmedia%26token%3Dbe72e8a3-3be3-496f-8c70-f01acbf7b908&width=768&dpr=4&quality=100&sign=3f811633&sv=2) Additionally, the platform will display an error message (yellow triangle). When you click on it, it will give more details. Note, the platform will alert each minute that conditions exist during a multiple minute entry. If the user has configured one of the entry time choices to allow for multiple minutes, it is possible for the software to send an alert, and then later enter the trade per the user's parameter. The alert is designed to alert for that minute. Note: Email alerts do NOT send emails for opening & closing of trades (those come from the broker). Finally, users should be following the [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) channel on the Discord server. If you are automation on OO, this is a must! ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F0eYttEX5sy4XgJp0N8cI%252Fimage.png%3Falt%3Dmedia%26token%3Defcdb796-cb8a-4e49-bf4f-82cbbe4f2785&width=768&dpr=4&quality=100&sign=df607ae5&sv=2) Sample error [](https://docs.optionomega.com/automation/automation-faq#when-does-the-automation-platform-start) When does the automation platform start? ------------------------------------------------------------------------------------------------------------------------------------------------ Like the backtester, the platform will begin automations at 9:32. Note: if a user has a resting GTC order at the broker, on a multi-day trade these will remain open (i.e. at 9:30/9:31 these will be open). [](https://docs.optionomega.com/automation/automation-faq#what-happens-to-a-live-trade-if-i-adjust-a-strategy-while-its-on) What happens to a live trade if I adjust a strategy while it's on? --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The live trade will continue based on the original parameters. Note there is an option to "Edit Exit Conditions", which is a choice to change a live trade, but not a strategy. [More information here](https://docs.optionomega.com/automation/trade-management) . [](https://docs.optionomega.com/automation/automation-faq#what-if-i-have-an-existing-position-on-and-the-automation-tries-to-put-on-a-conflicting-position) What if I have an existing position on and the automation tries to put on a conflicting position? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ The automation platform's default behavior skips the trade if a conflicting position is detected. There is an option to "Move Conflicted Strikes" for the user to enable. If this option is selected by the user, the platform will move any conflicted strikes to the nearest available strikes based upon the strike selection criteria. If the user has selected the green padlock (use exact strike offset), the offset strikes will move in tandem. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9AK7BSNplYldh7mabTke%252Fimage.png%3Falt%3Dmedia%26token%3D83e5841c-a3bf-43fd-bd6d-5d3d994b9b7a&width=768&dpr=4&quality=100&sign=3a6ee2d6&sv=2) [](https://docs.optionomega.com/automation/automation-faq#in-the-main-automation-screen-i-have-an-active-strategy-that-has-a-negative-in-front-of-the-percenta) In the main automation screen, I have an active strategy that has a negative in front of the percentage, but it's green, why? -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- This can happen when a strategy has partial exits. If the user has partially exited a live strategy, the user will see the open position percentage (which could be positive or negative), along with green or red (indicating overall profit and loss). It's totally possible to have a red strategy with a currently positive open position, or a green strategy with a currently negative open position. [](https://docs.optionomega.com/automation/automation-faq#i-had-an-automation-that-reached-an-exit-condition-but-due-to-my-exit-execution-settings-it-didnt-ex) I had an automation that reached an exit condition, but due to my exit execution settings, it didn't exit. The next minute, it didn't try to exit. I noticed the condition (S/L ratio exit) was triggered in the first minute, but then was not triggered. Is that why the platform didn't exit. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Correct, the platform checked the conditions in the "second" minute, and saw that the conditions for an exit were not met. [](https://docs.optionomega.com/automation/automation-faq#is-there-an-easy-way-to-compare-a-backtest-and-a-strategy) Is there an easy way to compare a backtest and a strategy? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Yes, if you are looking at a strategy, clicking on the lightbulb will bring up the backtest that you used to create the strategy. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F1wfQLgdpBZ7n31ujT9TH%252Fimage.png%3Falt%3Dmedia%26token%3D5677575f-3a72-4eea-88f8-ad5a85c45c2d&width=768&dpr=4&quality=100&sign=fc298772&sv=2) Note, that if you change a backtest or strategy after creating a strategy from a backtest, the other item will NOT also change. I.E., if you used a 10:01 entry time on a backtest and created a strategy with it, then changed to 10:02 at a later date on the strategy, the backtest will remain at 10:01. [](https://docs.optionomega.com/automation/automation-faq#what-happens-to-a-backtest-when-i-want-to-change-a-strategy) What happens to a backtest when I want to change a strategy? ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The user can create a strategy two ways: from scratch, or using one of their own saved backtests. If a strategy is created from a backtest, the backtest will auto-fill conditions in the strategy. After the strategy is created, a change to the strategy will only impact the strategy. A change to the backtest after that will only impact the backtest. [](https://docs.optionomega.com/automation/automation-faq#does-the-automation-platform-support-delta-exits-what-about-underlying-exit-when-tested-what-about-s) Does the automation platform support delta exits? What about underlying exit when tested? What about short leg ratios? Can I set profit actions? --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Yes, these all supported. They are checked at 1-minute intervals, like in the backtests. In general, the choices for the backtest are available in the automation, with the obvious exceptions of backtest-specific choices (i.e. slippage, Punisher settings such as two hits, etc.) Additionally, SqueezeMetrics are not in the automation platform. [](https://docs.optionomega.com/automation/automation-faq#how-does-the-automation-platform-deal-with-expiration-and-or-assignment) How does the automation platform deal with expiration and/or assignment? ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The automation platform does not directly manage expiration or assignment—these are entirely determined by the user and their strategy. In the backtester, a trade is closed when any leg expires. _In the live automation platform,_ the user's strategy dictates what happens. For example, in multi-leg trades or time spreads, if no specific closing logic is defined, in-the-money (ITM) legs may be assigned, out-of-the-money (OTM) legs may expire worthless, and partial positions may remain open after assignment, etc., etc. [](https://docs.optionomega.com/automation/automation-faq#i-received-a-message-in-the-log-one-or-more-preflight-checks-failed-account-does-not-have-sufficient) I received a message in the log: "One or more preflight checks failed - Account does not have sufficient buying power available for this order due to Expiration Risk" message. What does that mean? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Preflight check messages are from the broker directly— the automation platform simply passes them along. If you don't understand the context of the message, please contact the broker directly. [](https://docs.optionomega.com/automation/automation-faq#i-have-an-account-with-schwab-and-i-received-a-message-in-the-log-open-order-preview-failed-with-err) I have an account with Schwab, and I received a message in the log: "Open order preview failed with error: No trades are currently allowed". What does that mean? -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- You have to enable the thinkorswim trading for specific accounts. You can do this on Schwab.com on the Trade page - thinkorswim platform. It can take up to 1 entire day for the account to be enabled. [](https://docs.optionomega.com/automation/automation-faq#im-trading-spy-or-qqq-or-iwm-and-ive-had-a-variety-of-error-messages-near-the-end-of-the-day.-the-br) I'm trading SPY (or QQQ or IWM) and I've had a variety of error messages near the end of the day. The broker tells me that strikes can't be closed, or I will be oversold. Why? ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Near the end of the day, brokers have a variety of issues with 0DTE SPY/QQQ/IWM options (often with errors like “strikes can’t be closed” or “you will be oversold”). They may enforce strict internal cutoffs (typically 3:30–4:00 p.m. ET) to process trades, prevent unwanted assignment on American-style contracts, avoid pin-risk and margin violations, and protect against the extreme illiquidity and wide spreads that appear in the final minutes before 4:15 p.m. ET expiration. Groupings viewed by the broker are often not the groupings viewed by the trader (or the order in which the spreads may have gone on, in the event of multiple positions). Remember, a single SPY contract is over $60,000 of notional. [](https://docs.optionomega.com/automation/automation-faq#i-received-a-message-in-the-log-insufficient-buying-power-to-open-trade.-why) I received a message in the log "Insufficient buying power to open trade." Why? ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The strategy must pass both the correct funds & allocation in the OO automation, as well as the broker buying power requirements. Either the automation platform or the broker can cause a buying power message. Please review your strategy and allocation in OO, and if that checks out, reach out to your broker and clarify margin requirements. Margin requirements vary by broker, and can change based on a variety of factors, including account type and other factors. [](https://docs.optionomega.com/automation/automation-faq#i-want-to-switch-from-annual-to-monthly-cancel-move-from-backtesting-to-automation-etc.-how-do-i-do) I want to switch from annual to monthly, cancel, move from backtesting to automation, etc., how do I do that? --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Users can change subscription tiers or timeframes at any time in settings⇒ billings⇒ manage subscription in the main OO website. If you need additional help, you can email [\[email protected\]](https://docs.optionomega.com/cdn-cgi/l/email-protection) . [Here's a video detailing the process](https://youtu.be/zPU9WGgk2a8) . If a user wants to cancel automation, it is advised to do one of the following while the subscription is active: pause all live trading, pause all new trades, deactivate strategies or remove account linkages. Once a user has canceled their automation plan, the OO platform will no longer automate their strategies, or manage existing ones. [PreviousTrade Management](https://docs.optionomega.com/automation/trade-management) [NextTrade Smart: InfoStation](https://docs.optionomega.com/automation/trade-smart-infostation) Last updated 25 days ago * [I want to tell what happened with a trade. Is there a way for me to see what the automation platform did or did not do? How can I get more information?](https://docs.optionomega.com/automation/automation-faq#i-want-to-tell-what-happened-with-a-trade.-is-there-a-way-for-me-to-see-what-the-automation-platform) * [Is there a way to alert me?](https://docs.optionomega.com/automation/automation-faq#is-there-a-way-to-alert-me) * [When does the automation platform start?](https://docs.optionomega.com/automation/automation-faq#when-does-the-automation-platform-start) * [What happens to a live trade if I adjust a strategy while it's on?](https://docs.optionomega.com/automation/automation-faq#what-happens-to-a-live-trade-if-i-adjust-a-strategy-while-its-on) * [What if I have an existing position on and the automation tries to put on a conflicting position?](https://docs.optionomega.com/automation/automation-faq#what-if-i-have-an-existing-position-on-and-the-automation-tries-to-put-on-a-conflicting-position) * [In the main automation screen, I have an active strategy that has a negative in front of the percentage, but it's green, why?](https://docs.optionomega.com/automation/automation-faq#in-the-main-automation-screen-i-have-an-active-strategy-that-has-a-negative-in-front-of-the-percenta) * [I had an automation that reached an exit condition, but due to my exit execution settings, it didn't exit. The next minute, it didn't try to exit. I noticed the condition (S/L ratio exit) was triggered in the first minute, but then was not triggered. Is that why the platform didn't exit.](https://docs.optionomega.com/automation/automation-faq#i-had-an-automation-that-reached-an-exit-condition-but-due-to-my-exit-execution-settings-it-didnt-ex) * [Is there an easy way to compare a backtest and a strategy?](https://docs.optionomega.com/automation/automation-faq#is-there-an-easy-way-to-compare-a-backtest-and-a-strategy) * [What happens to a backtest when I want to change a strategy?](https://docs.optionomega.com/automation/automation-faq#what-happens-to-a-backtest-when-i-want-to-change-a-strategy) * [Does the automation platform support delta exits? What about underlying exit when tested? What about short leg ratios? Can I set profit actions?](https://docs.optionomega.com/automation/automation-faq#does-the-automation-platform-support-delta-exits-what-about-underlying-exit-when-tested-what-about-s) * [How does the automation platform deal with expiration and/or assignment?](https://docs.optionomega.com/automation/automation-faq#how-does-the-automation-platform-deal-with-expiration-and-or-assignment) * [I received a message in the log: "One or more preflight checks failed - Account does not have sufficient buying power available for this order due to Expiration Risk" message. What does that mean?](https://docs.optionomega.com/automation/automation-faq#i-received-a-message-in-the-log-one-or-more-preflight-checks-failed-account-does-not-have-sufficient) * [I have an account with Schwab, and I received a message in the log: "Open order preview failed with error: No trades are currently allowed". What does that mean?](https://docs.optionomega.com/automation/automation-faq#i-have-an-account-with-schwab-and-i-received-a-message-in-the-log-open-order-preview-failed-with-err) * [I'm trading SPY (or QQQ or IWM) and I've had a variety of error messages near the end of the day. The broker tells me that strikes can't be closed, or I will be oversold. Why?](https://docs.optionomega.com/automation/automation-faq#im-trading-spy-or-qqq-or-iwm-and-ive-had-a-variety-of-error-messages-near-the-end-of-the-day.-the-br) * [I received a message in the log "Insufficient buying power to open trade." Why?](https://docs.optionomega.com/automation/automation-faq#i-received-a-message-in-the-log-insufficient-buying-power-to-open-trade.-why) * [I want to switch from annual to monthly, cancel, move from backtesting to automation, etc., how do I do that?](https://docs.optionomega.com/automation/automation-faq#i-want-to-switch-from-annual-to-monthly-cancel-move-from-backtesting-to-automation-etc.-how-do-i-do) --- # Modeling FAQ | Option Omega Documentation ### [](https://docs.optionomega.com/modeling/modeling-faq#where-can-i-talk-about-modeling-with-other-oo-members) Where can I talk about modeling with other OO members? We have a discussion channel on the Discord, called [#tests-strats](https://discord.com/channels/882705067210317915/961355812297666691) for discussion of strategies. That's a great start. If you're not on the Discord, [you should join](https://docs.optionomega.com/welcome/discord-community) ! ### [](https://docs.optionomega.com/modeling/modeling-faq#how-do-i-know-when-new-features-are-added) How do I know when new features are added? We post them in the [releases](https://discord.com/channels/882705067210317915/882705067210317919) channel on the Discord. If you're not on the Discord, [you should join](https://docs.optionomega.com/welcome/discord-community) ! ### [](https://docs.optionomega.com/modeling/modeling-faq#i-have-backtesting-tier-but-want-to-add-modeling.-how-do-i-do-that) I have backtesting tier but want to add modeling. How do I do that? The self-service portal in the web-app itself allows users to change their subscription status or tier at any time. [Check it out](https://youtu.be/zPU9WGgk2a8?si=RQaLrzkYl9vEbUXm) . ### [](https://docs.optionomega.com/modeling/modeling-faq#what-pricing-model-does-the-platform-use) What pricing model does the platform use? The platform uses the **Black-Scholes model** to calculate estimated option prices and Greeks (Delta, Gamma, Theta, Vega, and Rho). The Implied Volatility (IV) values used in these calculations are sourced from the OPRA data provider. ### [](https://docs.optionomega.com/modeling/modeling-faq#why-is-there-a-difference-between-the-p-l-shown-on-the-chart-and-in-the-right-sidebar) Why is there a difference between the P/L shown on the chart and in the right sidebar? The discrepancy you may notice between these two displays is due to different data sources: * **Right Sidebar**: Shows real-time profit and loss based on live market data directly from the OPRA data provider. This reflects current option prices. * **Chart**: Displays profit and loss calculated using the Black-Scholes model. This provides theoretical pricing based on the model's assumptions and parameters. [PreviousSetup and Use](https://docs.optionomega.com/modeling/setup-and-use) [NextContact Us/ Support](https://docs.optionomega.com/support/contact-us-support) Last updated 1 month ago * [Where can I talk about modeling with other OO members?](https://docs.optionomega.com/modeling/modeling-faq#where-can-i-talk-about-modeling-with-other-oo-members) * [How do I know when new features are added?](https://docs.optionomega.com/modeling/modeling-faq#how-do-i-know-when-new-features-are-added) * [I have backtesting tier but want to add modeling. How do I do that?](https://docs.optionomega.com/modeling/modeling-faq#i-have-backtesting-tier-but-want-to-add-modeling.-how-do-i-do-that) * [What pricing model does the platform use?](https://docs.optionomega.com/modeling/modeling-faq#what-pricing-model-does-the-platform-use) * [Why is there a difference between the P/L shown on the chart and in the right sidebar?](https://docs.optionomega.com/modeling/modeling-faq#why-is-there-a-difference-between-the-p-l-shown-on-the-chart-and-in-the-right-sidebar) --- # Common Abbreviations | Option Omega Documentation Term Meaning ATH All Time High - market high or a trading account high ATM At The Money - referring to option strike vs underlying market price ATR Average True Range BABP Build a Backtest Portfolio BnB Bed aNd Breakfast - a trade that is put on late in the day and taken off early the next morning BOD Blackout Days BS Black-Scholes - the popular option pricing model that OO uses BS Black Swan - low probability event, fat tail risk - read: Taleb BTC Buy To Close - buy back a short option to close an existing position BTD Buy The Dip BTFD Buy The Fudging Dip BTO Buy To Open - buy a long option to open a new position CCS Call Credit Spread CDS Call Debit Spread CPI Consumer Price Index - news event inflation reporting CRIC Call Ratio Iron Condor CRRIC Call Ratio Reverse Iron Condor CS Charles Schwab Brokerage CSV Comma Separated Values - data, format, used, for, OO, data, export, and, import DC Double Calendar DD Double Diagonal DD Draw Down DFTD Done For The Day DM Direct Message, e.g. DM me so we can have a private conversation DST Drink Some Tea ELI5 Explain it Like I'm 5 EOD End Of Day - can proceed trade type e.g. EODIC, EODDC EOM End of Month - usually refering the the last option chain experation date of a given month ERN Early Retirement Now - inspired by the earlyretirementnow.com community, no affiliation to OO FLA Four Letter Acronym FOMC Federal Open Market Committee - interest rate announcements FOMO Fear Of Missing Out FUD Fear Uncertainty Doubt FWIW For What Its Worth GTC Good 'Til Cancled - type of broker order HDIC High Delta Iron Condor - subjective by short strikes usually above 30 delta HODL Hold On for Dear Life IB Iron Butterfly IBKR Interactive Brokers IC Iron Condor IF Iron Fly IMHO In My Humble Opinion IMSL Intra Minute Stop Loss IRL In Real Life ITM In The Money - refering to option strike vs underlying market price IV Implied Volitility IVP Implied Volitility Percentile - % of days in a rolling year with IV below current IV IVR Implied Volitility Rank - IV represented on a scale using rolling year min and max IVs JFSP Just Fudging Sell Putts JSP Just Sell Puts LDE Leg Delta Exit LDIC Low Delta Iron Condor - subjective but usually short strikes below 10delta LEAPS Longterm Equity Anticipation Securities - options with >1 year until expiration LFG Let's Fudging Go! MACD Moving Average Convergence Divergence MDD Max Draw Down ME Multiple Entry - may appear in front of other strategy types MEDC Multiple Entry Double Calendar MEIC Multiple Entry Iron Condor NDE Net Delta Exit NFP Non Farm Payrolls - market news event NT Navigation Trading - Non affiliated trading education provider OCO One Cancles the Other OO Options Omega! OPEX Option Expiration - refers to day when monthly options contracts expire, usually third Friday of each month ORB Opening Range Breakout OTM Out of The Money - refering to option strike vs underlying market price OTO One Triggers the Other PCR Premium Capture Rate PCS Put Credit Spread PDIC Paint Dry Iron Condor - in refence to how exciting it is to watch paint dry - see LDIC PDS Put Debit Spread PoO Portfolio of One - running a portfolio with only one backtest, often to visualize intra-trade drawdowns PPI Product Price Index - inflation reporting PRIC Parity Reverse Iron Condor - Equal short strikes and calls in RIC PRIC Put Ratio Iron Condor (I.E. more puts side spreads than call side spreads) PRRIC Put Ratio Reverse Iron Condor RAIC Ratio Iron Condor RH Robinhood Brokerage RIC Reverse Iron Condor RIF Reverse Iron Fly, a subtype of a Reverse Iron Condor RoD Ride Or Die - trade with no exit conditoins or stop loss, just let it expire rOObot Affectionate name for OO's trade automation platform RSI Relative Strength Indicator RSS Rolling Short Strangle RTFM Read the Fudging Manual - aka please check the documentation before asking for help SAC Small Account Challenge - trades for accounts that might be subject to pattern daytrading rules etc. SEME Single Entry Multi Exit - where trade is opened as a whole but exited in parts via leg groups SHW Short Holiday Weeks SLR Short-Long Ratio STC Sell To Close - sell a long option to close an existing position STO Sell To Open - sell a short option to open a new position sus Shorthand for "suspicious" or "suspect" e.g. Freind 1: "My PDIC MAR is 1000!", Freind 2: "sus" TAT Trade Automation Toolbox - Non affiliated trade automation platform TBH To Be Honest TD Tradier Brokerage TLA Three Letter Acronym TLDR Too Long Didn't Read TOS ThinkOrSwim Trading Platform - used with Schwab Broker TS Trade Steward - Non OO affiliated trade automation platform TT tastytrade brokerage TTBT Trust The BackTest TTFB Trust The Fudging Backtest TV Trading View - non affiliated charting platform TWA Trust Wizzy Also - proceed with caution when Wizzy frowns VWAP Volume Weighted Average Price w.r.t. Shorthand: With Respect To WFA Walk Forward Analysis - assess strategy robustness by simulating performance on a series of sequential, non-overlapping time periods YMMV Your Mileage Might Vary - you may do better or worse than others' experience YOLO You Only Live Once - usually designates a high-risk, all-in type trade [PreviousVerified Channel Guide](https://docs.optionomega.com/welcome/discord-community/verified-channel-guide) [NextDiscord Tips & Tricks](https://docs.optionomega.com/welcome/discord-community/discord-tips-and-tricks) Last updated 22 days ago --- # Backtesting FAQ | Option Omega Documentation Welcome! Thanks for checking out our frequently asked questions. ### [](https://docs.optionomega.com/backtesting-faq#can-you-give-me-basics-of-how-you-come-up-with-the-price-is-it-mid) Can you give me basics of how you come up with the price? Is it mid? We get bid/ask from an OPRA data vendor. We use mid price when opening and closing trades, though you can add slippage to modify this value. We use 1-minute historical data. The exception to the is IMSL (intra-minute stop loss, which is detailed in the next question. ### [](https://docs.optionomega.com/backtesting-faq#how-does-imsl-intra-minute-stop-differ-from-the-normal-1-minute-data) How does IMSL (intra-minute stop) differ from the normal 1-minute data? IMSL is only available on limited backtests (SPX/SPY 0 day). At every one minute interval, the tester will use the high/low values for each contract to determine whether your stop loss was triggered. High/low values are comprised of both NBBO bid/ask and actual trades within each minute. You can select NBBO by itself, or NBBO + trades (with trades will result in the most stops) for IMSL. ### [](https://docs.optionomega.com/backtesting-faq#im-new-to-option-omega.-whats-the-best-way-to-get-up-to-speed) I'm new to Option Omega. What's the best way to get up to speed? Option Omega has a course on the backtester called [Backtesting Bootcamp class on Option Omega Academy](https://academy.optionomega.com/course/backtesting-bootcamp) . (Note: Academy requires a separate/additional login & PW from the OO backtester). This is the best way to get going on OO. If you have bespoke technical questions, we have backtest support on the Discord channel. ### [](https://docs.optionomega.com/backtesting-faq#im-more-of-a-visual-learner-do-you-have-any-videos) I’m more of a visual learner? Do you have any videos? Sure do! Check out our growing [YouTube Library](https://www.youtube.com/optionomega) . Of course, the absolute best way to visually learn OO is to do our [FREE Backtesting Bootcamp class on Option Omega Academy](https://academy.optionomega.com/course/backtesting-bootcamp) . (Note: Academy requires a separate/additional login & PW from the OO backtester). ### [](https://docs.optionomega.com/backtesting-faq#how-does-the-vix-gap-condition-work-when-are-you-measuring-the-close-of-vix-and-the-open-of-vix) How does the VIX gap condition work? When are you measuring the close of VIX and the open of VIX? We use the previous trading day’s closing VIX, and the opening VIX during RTH (regular trading hours). The VIX price at market open doesn’t have a set time; the first print is typically 9:31 or 9:32, but sometimes even later. In short, look at the previous days VIX RTH close (4:15) and compare to RTH open (first VIX print after 9:30). This [video](https://youtu.be/gikrzd0Jsj4) explains the process visually. ### [](https://docs.optionomega.com/backtesting-faq#what-data-resolution-is-used) What data resolution is used? OO uses 1-minute data as default for backtesting and automation. There are some exceptions to this (ORB and IMSL have some additional options). Additionally, automation users will want to review the [profit target and stop loss settings](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types) , as there are many choices beyond a 1-minute check. ### [](https://docs.optionomega.com/backtesting-faq#whats-the-oo-academy) What’s the OO Academy? Option Omega [Academy](https://academy.optionomega.com/) is a platform of free and paid courses that dive into different elements of options, backtesting and trading. You can subscribe to Option Omega backtesting without purchasing any Academy classes, and vice versa. We also offer some free Academy classes. ### [](https://docs.optionomega.com/backtesting-faq#i-have-a-question-about-the-tester-that-i-cant-find-an-answer-to) I have a question about the tester that I can’t find an answer to? The easiest way is to search this website– but we have a huge library of answered questions on Discord– and the Discord search works pretty well. If you can’t get an answer there quickly– you can post in the “help-questions” channel on the Discord. ### [](https://docs.optionomega.com/backtesting-faq#i-have-a-trade-that-looks-very-different-when-i-test-with-qty-5-of-each-contract-rather-than-a-qty-1) I have a trade that looks very different when I test with qty 5 of each contract, rather than a qty 1 of each contract. Why? The difference is that your slippages, fees, etc. are applied to a single “tranche” of the trade. The second setup (default each qty to 1) is what you want; this is how the software was designed to work. The per-leg quantities are for butterflies, etc., where the leg quantities are uneven (1-2-1, PRIC, CRIC, etc.) ### [](https://docs.optionomega.com/backtesting-faq#my-backtest-is-producing-a-weird-result.-im-testing-a-butterfly.-can-you-help) My backtest is producing a weird result. I’m testing a butterfly. Can you help? Certain types of trades have wild moments of liquidity (illiquidity!) and odd price spikes. This is true of many multi-leg trades, including double calendars, butterflies, etc. Fortunately, you can verify quickly using the trade replay in the trade log if there was a “spiky” trade. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FhpUC5FBoCnAyLzJ4cPa5%252Fshow%2520trade%2520replay.png%3Falt%3Dmedia%26token%3D63d20619-2455-4e1f-b08c-64c314f4d676&width=768&dpr=4&quality=100&sign=22f6abe1&sv=2) The trade replay is the three lines at the left part of the trade log for each entry. For example, in this backtest, you can see several different spikes, such as 3/13 at 15:43 ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F2Inxrpnu0jcTaCusF5fb%252Ftrade%2520replay.png%3Falt%3Dmedia%26token%3D9bc2bbf7-5a24-4599-ad3a-29d9a5b2213e&width=768&dpr=4&quality=100&sign=63022459&sv=2) Typically, good use of the Punisher will help you dial in the backtest. Typically, “Two Hits at PT” and “Cap Profits”, along with accurate slippage, will help you get the best result. [This video on the Punisher directly addresses this issue.](https://youtu.be/fGp9cuBdRjE?si=-nAfJ3XFU2BFKGAd) ### [](https://docs.optionomega.com/backtesting-faq#my-trade-didnt-work...why-not-another-version-is-this-my-test-worked-but-it-doesnt-have-a-trade-i-th) My trade didn’t work…why not? (another version is this: My test worked but it doesn’t have a trade I think it should. Can you explain?) The most common reasons tests don’t work are the following: 1. Not enough Margin to support the trade (typical mostly for selling puts & calls). 2. The exact DTE button is selected, and there were not trades that fit that DTE. 3. The trade is still ongoing ("Close Open Trades on Test Completion" will include those trades). 4. Max Open Trades is limiting the number of simultaneous open trades. 5. The padlock next to the strike legs is selected. This is the exact strike offset — it is padlocked by default but you can uncheck it. If it is left on (default), the trade will only execute if there is an option at that strike. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FCeF2666WPdjPBoS213EB%252Fmy%2520trade%2520didn%27t%2520work.png%3Falt%3Dmedia%26token%3Db5241b69-c998-485f-a4b1-f8883458b6ad&width=768&dpr=4&quality=100&sign=35c97201&sv=2) Tip: To check if margin issues are limiting trades set max contracts to 1 with Ignore Margin Requirements checked and remove any limit for Max Open Trades. This will show you the total # of available trades that meet your other entry criteria. Also, SPX daily expirations started in May 2022. SPY and QQQ daily expirations started in November 2022. Short days and holiday weeks can also impact market and option chain availability. ### [](https://docs.optionomega.com/backtesting-faq#i-have-a-diagonal-or-calendar-with-different-dates.-what-happens-when-the-earlier-date-is-reached) I have a diagonal (or calendar) with different dates. What happens when the earlier date is reached? When one leg closes on this type of test (or any other test), the other legs will close as well. ### [](https://docs.optionomega.com/backtesting-faq#i-have-a-stop-loss-and-or-profit-target-on-for-usd300...-but-its-not-hitting) I have a stop loss (and/or profit target) on for $300… but it’s not hitting? You probably want $3.00, not $300. ### [](https://docs.optionomega.com/backtesting-faq#do-you-have-extended-hours) Do you have extended hours? No, we use market RTH (regular trading hours)– 9:30-4:00 market time. The first options datapoint we use is 9:32 (the previous two minutes are too noisy for high confidence). ### [](https://docs.optionomega.com/backtesting-faq#do-you-have-morning-expiries-like-on-spx) Do you have morning expiries, like on SPX? No, we are using the standard End of Day (EoD) contracts on SPX only– no morning expiries. ### [](https://docs.optionomega.com/backtesting-faq#my-test-is-constantly-blowing-by-the-stop-loss-or-profit-target-.-why-is-this) My test is constantly blowing by the stop-loss (or profit-target). Why is this? The backtester uses 1 minute data. At the interval in which data is measured, often the SL/PT will be “past” the exit value. If you prefer to have it stop on these values exactly, just select these choices under misc: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FUyQI0G57ZU61hRPP1Koa%252Fcap%2520PT%2520SL%2520non%2520opening.png%3Falt%3Dmedia%26token%3Da60e87b7-3507-47e3-8e55-4c9c37c023b5&width=768&dpr=4&quality=100&sign=e90468b3&sv=2) These choices do exactly what they say– cap non opening (i.e. intraday) losses or profits at the the value specified. For example, if the price is 9.99 and your PT (or SL) is 10, the exit will not trigger. If the market moves and the price is 10.25, the PT (or SL) will trigger. If you have the profit (or loss) uncapped (default), it will show 10.25. If you have profits/losses capped (optionally, like above), the backtest will close at 10. ### [](https://docs.optionomega.com/backtesting-faq#i-use-a-big-popular-broker-that-people-commonly-abbreviate-with-4-letters.-ive-noticed-that-my-delta) I use a big, popular broker that people commonly abbreviate with 4 letters. I’ve noticed that my deltas are slightly different that OO? What is **causing this?** We get our deltas from a data vendor, and find them to be consistent with other brokers and tools. If you poke around the internet, we’ve been told you will find a lot of discussion per your particular question due to one certain broker’s display of deltas. ### [](https://docs.optionomega.com/backtesting-faq#im-confused-about-trailing-stops.-can-you-explain-how-they-work) I’m confused about trailing stops. Can you explain how they work? If you have a non-trailing stop of 100%, and a credit spread with initial credit of $2, then the stop would be $4 db. If the stop is then trailed at $1 profit target, and the current value if your trade is $1 (thus triggering the trailing stop condition), then the trailing stop will initially $2 db and then will continue to adjust as your trade increases in profit. A trailing stop will “follow” the price only upon profitable movement in trade’s price. Also, the trailing stops (and profit actions) use the current premium value to calculate the SL ### [](https://docs.optionomega.com/backtesting-faq#i-want-to-find-a-2-legged-spread-thats-about-usd2.50.-how-do-i-do-this) I want to find a 2 legged spread that’s about $2.50. How do I do this? The most common method to achieve this is a long and short leg, and use fixed premium for both. You can do this by manually adding un-linked legs. In this example we asked for a $3.50 short and $1, long and got this result on a 0 DTE SPX short spread. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FBJf7tMu9XGjU1uNSkH2w%252Ftwo%2520legged%2520spread.png%3Falt%3Dmedia%26token%3D6bf97f36-6f42-42d1-b69f-0ba32b4ff227&width=768&dpr=4&quality=100&sign=60b6cec5&sv=2) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FvqB2fxBW8Ju9LXJ34L5i%252Ftrade%2520log.png%3Falt%3Dmedia%26token%3D0dc6ec60-a5ab-49a7-b8f0-38f8f097f169&width=768&dpr=4&quality=100&sign=d6aa15c7&sv=2) Additionally, you can use the min/max filter to get even more specific. ### [](https://docs.optionomega.com/backtesting-faq#there-is-a-feature-that-people-are-talking-about-but-its-not-working-in-my-app-what-is-going-on) There is a feature that people are talking about, but it’s not working in my app?? What is going on? We update the app frequently. A best practice for the app is to do a refresh of your browser whenever new features are added. Reminder, the best place to get updates is our Discord server. They are posted under #releases. ### [](https://docs.optionomega.com/backtesting-faq#how-do-i-know-when-new-features-are-added) How do I know when new features are added? We post them in the releases channel on the Discord. If you're not on the Discord, [you should join](https://docs.optionomega.com/welcome/discord-community) ! ### [](https://docs.optionomega.com/backtesting-faq#ive-got-a-two-leg-trade.-how-do-i-close-just-one-side-and-let-the-other-one-run) I’ve got a two leg trade. How do I close just one side and let the other one run? By default, When any leg is closed in OO, the whole trade closes. Some users use portfolio and break down trades into component pieces. Keep in mind that margin will work differently in this setup, but breaking a 4 legged trade down into a portfolio of 2- 2 legged trades (or any similar ratios), does allow a more granular level of control. You can also use “Leg Groups” (a.k.a. Single Entry Multi Exit), which allows you to enter a trade at one time, then sub-group legs and exit those legs as a component part. [Here’s a video on SEME (leg groups)](https://www.youtube.com/live/tEv3pFA1o94?si=CrDzamx-LBhL1BK2) . ### [](https://docs.optionomega.com/backtesting-faq#when-does-the-backtest-data-update) When does the backtest data update? The backtest data is updated overnight after the previous day, often between 3-5 a.m. Eastern time. It is available before market open. Most times, it will be updated before 6 a.m. Note: Data updates occur gradually, not all at once. During backtests—especially in the early morning hours (relative to market time)—you may encounter partially updated data. If a backtest runs while updates are in progress, be aware of this behavior. ### [](https://docs.optionomega.com/backtesting-faq#i-have-a-feature-suggestion.-where-does-it-go) I have a feature suggestion. Where does it go? Great! We’d love to hear it. [You can post on Canny, and the suggestion will be reviewed by the OO team.](https://optionomega.canny.io/feature-requests?selectedCategory=automation) ### [](https://docs.optionomega.com/backtesting-faq#im-noticing-some-unique-behavior-in-a-lot-of-my-tests-around-spring-especially-march-2020.-whats-goi) I’m noticing some unique behavior in a lot of my tests around Spring (especially March) 2020. What’s going on? The Coronavirus global pandemic had a major impact on the market in 2020. During times of high volatility and rapid moves, many backtests will reflect this unique time. In addition to the normal suggestions (ignore wide bid-ask, two hits, etc. etc.), some people simply blackout the month or certain days if they want to ignore this time period. ### [](https://docs.optionomega.com/backtesting-faq#related-to-above-there-is-some-odd-data-in-spring-2025.-whats-up) Related to above, there is some odd data in Spring 2025. What's up? Tariff/world news events prompted historic unstable markets, which promoted large moves. In addition to the normal suggestions (ignore wide bid-ask, two hits, etc. etc.), some people simply blackout the month or certain days if they want to ignore this time period. ### [](https://docs.optionomega.com/backtesting-faq#whats-your-favorite-trade) What’s your favorite trade? We’re a backtester– not a trade service— that being said, we have plenty of folks exchanging ideas freely on the Discord. ### [](https://docs.optionomega.com/backtesting-faq#can-i-tranche-out-of-tests) Can I tranche out of tests? Yup. You can do this with profit actions. [Here’s a great video on it.](https://youtu.be/gyuCE_kamnE) If you want to get even wilder, you can use portfolio to put on MULTIPLE trades that have multiple exits! ### [](https://docs.optionomega.com/backtesting-faq#can-i-upgrade-my-subscription-from-monthly-to-annual) Can I upgrade my subscription from monthly to annual? Yes, you can do this yourself in the app. Profile=>settings=>billing will get you to subscription management. ### [](https://docs.optionomega.com/backtesting-faq#i-am-backtesting-using-delta-to-find-the-strike-how-does-oo-select-the-delta-when-the-one-i-want-isn) I am backtesting using delta to find the strike– how does OO select the delta when the one I want isn’t available? The tester will find the closest delta, using decimal points if there is a “tie”. ### [](https://docs.optionomega.com/backtesting-faq#i-have-unchecked-exact-dte.-how-does-oo-find-the-date-i-want-im-trading-really-far-out-options) I have unchecked exact DTE. How does OO find the date I want? I’m trading really far out options. Exact DTE uses only the exact expiration; if that expiration isn’t found, the trade isn’t executed. If Exact DTE is toggled off, then the next available expiration further out in time is used; there is no limit to how far it will look ### [](https://docs.optionomega.com/backtesting-faq#im-confused-by-the-drawdowns-stat-and-what-it-measures.-can-you-shed-some-more-light) I’m confused by the drawdowns stat and what it measures. Can you shed some more light? Sure– the max drawdown is _per test_, and thus, _multi-trade_. If a trade is open, then the EOD value is used for MDD calculations. If the trade closes, then the loss is used for MDD calculations. The max drawdown stat is EOD. Drawdown is based upon current net liquidity, which means that if those trades had already lost most of their value in the preceding days, then the backtest completing won’t necessarily have much affect on drawdown– it’s the same calculation for drawdown in both tests and portfolios In the trade log, it’s the maximum loss during the entire life of the trade as per our data resolution (1-min). The max loss column on the trade log is intraday. ### [](https://docs.optionomega.com/backtesting-faq#i-trade-iron-condors.-i-want-to-only-exit-on-side-of-the-trade-put-spread-or-call-spread-.-how-do-i) I trade iron condors. I want to only exit on side of the trade (put spread or call spread). How do I this? There are two easy ways to do this: You can set up a leg-group (single entry multi exit), which allows you to enter a PCS and CCS at the same time, and exit them separately. [Here’s a video on SEME leg groups that may be helpful](https://www.youtube.com/live/tEv3pFA1o94?si=CrDzamx-LBhL1BK2) . You can alternately do this in portfolio. Just setup a put spread and a call spread and run them! You can get even more granular this way, and using a variety of the single leg choices that prompt closing a trade (i.e. you could use an option to close the spread once the short leg is exceeded by “x” points, etc. etc.) [Here’s a 90 second video on how to test a PCS and CCS as a condor using portfolio](https://youtu.be/a4UsGQVSLqo) . ### [](https://docs.optionomega.com/backtesting-faq#like-the-question-above-i-also-trade-iron-condors.-i-do-0dte.-ive-got-a-stop-loss-of-300-on-this-tra) Like the question above, I also trade iron condors. I do 0DTE. I’ve got a stop loss of 300% on this trade, and my losses blow by the stop. I realize that’s due to the gamma movement, but is there a way to NOT blow by the stops in the test? Sure, select “Cap Non-Opening Losses at Stop Loss” under misc features. ### [](https://docs.optionomega.com/backtesting-faq#im-having-issues-with-my-1dte-trades-on-fridays.-why-is-it-working-differently) I’m having issues with my 1DTE trades on Friday’s. Why is it working differently? 1DTE trades don’t exist on Friday. OO uses calendar dates for days to expiry (DTE). What most folks do if they have a 1DTE trade that they want to behave a certain way (or a trade that behaves a certain way on 1DTE, such as an early exit)— it is do two separate backtests: one for Fridays and one for other days. ### [](https://docs.optionomega.com/backtesting-faq#why-didnt-a-trade-trigger-in-my-trade-log-even-though-my-spx-chart-shows-it-should-have) Why didn’t a trade trigger in my Trade Log even though my SPX chart shows it should have? OptionOmega calculates all SPX-based filters using the official CBOE SPX index data. To mirror our signals, particularly in TradingView, chart `CBOE:SPX` specifically - not SPX/US500 variants, SPY, or ES futures. Using a different symbol or data source can show price prints we don’t use, so a trade may appear to trigger on your chart but not in OptionOmega. We apply official CBOE SPX data to these filters: _Technical Indicators, Gaps, Intraday Movement, and ORB._ Quick checks: * In TradingView, switch the symbol to CBOE:SPX * Make sure your chart’s session and timezone match your strategy settings (RTH vs. extended)., * Avoid comparing against SPY/ES or TVC/SP:SPX tickers - they will differ from CBOE SPX. ### [](https://docs.optionomega.com/backtesting-faq#on-the-discord-there-are-a-bunch-of-abbreviations-i-dont-understand...-can-you-help-me) On the Discord there are a bunch of abbreviations I don’t understand… can you help me? [Here is a glossary of common terms, abbreviations, and accronyms used by the OO community.](https://docs.optionomega.com/welcome/discord-community/common-abbreviations) ### [](https://docs.optionomega.com/backtesting-faq#wow-what-a-great-list-of-questions.-thanks) Wow, what a great list of questions. Thanks! You’re welcome. If you have something you thing other people would like to see here, drop us a message on Discord (in feedback-suggestions) and we’ll get it added. We update the FAQ regularly! [PreviousCustom Signals Tester](https://docs.optionomega.com/backtesting/advanced-options/custom-signals-tester) [NextRead this first- Brokerage Details](https://docs.optionomega.com/automation/read-this-first-brokerage-details) Last updated 1 month ago * [Can you give me basics of how you come up with the price? Is it mid?](https://docs.optionomega.com/backtesting-faq#can-you-give-me-basics-of-how-you-come-up-with-the-price-is-it-mid) * [How does IMSL (intra-minute stop) differ from the normal 1-minute data?](https://docs.optionomega.com/backtesting-faq#how-does-imsl-intra-minute-stop-differ-from-the-normal-1-minute-data) * [I'm new to Option Omega. What's the best way to get up to speed?](https://docs.optionomega.com/backtesting-faq#im-new-to-option-omega.-whats-the-best-way-to-get-up-to-speed) * [I’m more of a visual learner? Do you have any videos?](https://docs.optionomega.com/backtesting-faq#im-more-of-a-visual-learner-do-you-have-any-videos) * [How does the VIX gap condition work? When are you measuring the close of VIX and the open of VIX?](https://docs.optionomega.com/backtesting-faq#how-does-the-vix-gap-condition-work-when-are-you-measuring-the-close-of-vix-and-the-open-of-vix) * [What data resolution is used?](https://docs.optionomega.com/backtesting-faq#what-data-resolution-is-used) * [What’s the OO Academy?](https://docs.optionomega.com/backtesting-faq#whats-the-oo-academy) * [I have a question about the tester that I can’t find an answer to?](https://docs.optionomega.com/backtesting-faq#i-have-a-question-about-the-tester-that-i-cant-find-an-answer-to) * [I have a trade that looks very different when I test with qty 5 of each contract, rather than a qty 1 of each contract. Why?](https://docs.optionomega.com/backtesting-faq#i-have-a-trade-that-looks-very-different-when-i-test-with-qty-5-of-each-contract-rather-than-a-qty-1) * [My backtest is producing a weird result. I’m testing a butterfly. Can you help?](https://docs.optionomega.com/backtesting-faq#my-backtest-is-producing-a-weird-result.-im-testing-a-butterfly.-can-you-help) * [My trade didn’t work…why not? (another version is this: My test worked but it doesn’t have a trade I think it should. Can you explain?)](https://docs.optionomega.com/backtesting-faq#my-trade-didnt-work...why-not-another-version-is-this-my-test-worked-but-it-doesnt-have-a-trade-i-th) * [I have a diagonal (or calendar) with different dates. What happens when the earlier date is reached?](https://docs.optionomega.com/backtesting-faq#i-have-a-diagonal-or-calendar-with-different-dates.-what-happens-when-the-earlier-date-is-reached) * [I have a stop loss (and/or profit target) on for $300… but it’s not hitting?](https://docs.optionomega.com/backtesting-faq#i-have-a-stop-loss-and-or-profit-target-on-for-usd300...-but-its-not-hitting) * [Do you have extended hours?](https://docs.optionomega.com/backtesting-faq#do-you-have-extended-hours) * [Do you have morning expiries, like on SPX?](https://docs.optionomega.com/backtesting-faq#do-you-have-morning-expiries-like-on-spx) * [My test is constantly blowing by the stop-loss (or profit-target). Why is this?](https://docs.optionomega.com/backtesting-faq#my-test-is-constantly-blowing-by-the-stop-loss-or-profit-target-.-why-is-this) * [I use a big, popular broker that people commonly abbreviate with 4 letters. I’ve noticed that my deltas are slightly different that OO? What is causing this?](https://docs.optionomega.com/backtesting-faq#i-use-a-big-popular-broker-that-people-commonly-abbreviate-with-4-letters.-ive-noticed-that-my-delta) * [I’m confused about trailing stops. Can you explain how they work?](https://docs.optionomega.com/backtesting-faq#im-confused-about-trailing-stops.-can-you-explain-how-they-work) * [I want to find a 2 legged spread that’s about $2.50. How do I do this?](https://docs.optionomega.com/backtesting-faq#i-want-to-find-a-2-legged-spread-thats-about-usd2.50.-how-do-i-do-this) * [There is a feature that people are talking about, but it’s not working in my app?? What is going on?](https://docs.optionomega.com/backtesting-faq#there-is-a-feature-that-people-are-talking-about-but-its-not-working-in-my-app-what-is-going-on) * [How do I know when new features are added?](https://docs.optionomega.com/backtesting-faq#how-do-i-know-when-new-features-are-added) * [I’ve got a two leg trade. How do I close just one side and let the other one run?](https://docs.optionomega.com/backtesting-faq#ive-got-a-two-leg-trade.-how-do-i-close-just-one-side-and-let-the-other-one-run) * [When does the backtest data update?](https://docs.optionomega.com/backtesting-faq#when-does-the-backtest-data-update) * [I have a feature suggestion. Where does it go?](https://docs.optionomega.com/backtesting-faq#i-have-a-feature-suggestion.-where-does-it-go) * [I’m noticing some unique behavior in a lot of my tests around Spring (especially March) 2020. What’s going on?](https://docs.optionomega.com/backtesting-faq#im-noticing-some-unique-behavior-in-a-lot-of-my-tests-around-spring-especially-march-2020.-whats-goi) * [Related to above, there is some odd data in Spring 2025. What's up?](https://docs.optionomega.com/backtesting-faq#related-to-above-there-is-some-odd-data-in-spring-2025.-whats-up) * [What’s your favorite trade?](https://docs.optionomega.com/backtesting-faq#whats-your-favorite-trade) * [Can I tranche out of tests?](https://docs.optionomega.com/backtesting-faq#can-i-tranche-out-of-tests) * [Can I upgrade my subscription from monthly to annual?](https://docs.optionomega.com/backtesting-faq#can-i-upgrade-my-subscription-from-monthly-to-annual) * [I am backtesting using delta to find the strike– how does OO select the delta when the one I want isn’t available?](https://docs.optionomega.com/backtesting-faq#i-am-backtesting-using-delta-to-find-the-strike-how-does-oo-select-the-delta-when-the-one-i-want-isn) * [I have unchecked exact DTE. How does OO find the date I want? I’m trading really far out options.](https://docs.optionomega.com/backtesting-faq#i-have-unchecked-exact-dte.-how-does-oo-find-the-date-i-want-im-trading-really-far-out-options) * [I’m confused by the drawdowns stat and what it measures. Can you shed some more light?](https://docs.optionomega.com/backtesting-faq#im-confused-by-the-drawdowns-stat-and-what-it-measures.-can-you-shed-some-more-light) * [I trade iron condors. I want to only exit on side of the trade (put spread or call spread). How do I this?](https://docs.optionomega.com/backtesting-faq#i-trade-iron-condors.-i-want-to-only-exit-on-side-of-the-trade-put-spread-or-call-spread-.-how-do-i) * [Like the question above, I also trade iron condors. I do 0DTE. I’ve got a stop loss of 300% on this trade, and my losses blow by the stop. I realize that’s due to the gamma movement, but is there a way to NOT blow by the stops in the test?](https://docs.optionomega.com/backtesting-faq#like-the-question-above-i-also-trade-iron-condors.-i-do-0dte.-ive-got-a-stop-loss-of-300-on-this-tra) * [I’m having issues with my 1DTE trades on Friday’s. Why is it working differently?](https://docs.optionomega.com/backtesting-faq#im-having-issues-with-my-1dte-trades-on-fridays.-why-is-it-working-differently) * [Why didn’t a trade trigger in my Trade Log even though my SPX chart shows it should have?](https://docs.optionomega.com/backtesting-faq#why-didnt-a-trade-trigger-in-my-trade-log-even-though-my-spx-chart-shows-it-should-have) * [On the Discord there are a bunch of abbreviations I don’t understand… can you help me?](https://docs.optionomega.com/backtesting-faq#on-the-discord-there-are-a-bunch-of-abbreviations-i-dont-understand...-can-you-help-me) * [Wow, what a great list of questions. Thanks!](https://docs.optionomega.com/backtesting-faq#wow-what-a-great-list-of-questions.-thanks) --- # Backtest Results | Option Omega Documentation Congratulations– you’ve made it to the backtest results screen. Unless you’ve triggered this screen (below), you should have a bunch of data. [If you've triggered the screen below, here's a list of common reasons why that may have happened](https://docs.optionomega.com/backtesting/backtesting-faq#my-trade-didnt-work...why-not-another-version-is-this-my-test-worked-but-it-doesnt-have-a-trade-i-th) . ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FTAyVNeTmEvJ0YDhShd1Q%252FNo-trades-were-executed-1024x644.png%3Falt%3Dmedia%26token%3D6812339d-9d98-4353-96de-44ab7d8a02d0&width=768&dpr=4&quality=100&sign=a06cac57&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-results#displayed-metrics) Displayed Metrics ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F6lTwMzSrSQTpP0HozntK%252FBacktest-Results-screen-1024x351.png%3Falt%3Dmedia%26token%3D99667db4-3ab9-4036-acb4-7a33b62099a0&width=768&dpr=4&quality=100&sign=db44fd60&sv=2) **Underlying**: This displays the tickers for the options being backtested. **Dates:** The range the test ran. **Legs:** Shows the leg(s) of the test. **Entry Conditions:** Details the entry conditions selected. **Exit Conditions:** Details the exit conditions selected. **Misc:** Details any Misc conditions. **P/L:** Shows the overall profit or loss of the strategy during the time range. **CAGR:** The compound annual growth rate of the strategy during the test. CAGR is based upon net liquidity, so it involves open trades. **Max Drawdown:** The max drawdown at EOD. If a trade is open, then the EOD value is used for MDD calculations. If the trade closes, then the loss is used for MDD calculations. (Please note: This is different from the max loss column on the trade log, which is intraday). **MAR Ratio:** CAGR / MDD **Win Percentage:** % of trades that are profitable **Total Premium**: The total amount of credit or debit. **Capture rate:** The % of the trade value that was realized. **Starting capital:** The amount of $ at the beginning of the backtest. **Ending capital:** Starting capital +/- profit loss from closed backtests. **Average per trade:** The average amount of $ either profited or lost during the backtest period. **Average winner per lot:** Average amount collected during a winning trade per lot. **Average loser per lot:** Average amount lost during a losing trade per lot. **Max winner:** Highest amount profited during any closed trade (or an ongoing trade if one is open at test completion). **Max loser:** Highest amount lost during any closed trade (or an ongoing trade if one is open at test completion). **Average days in trade:** The average amount of time spent with an open trade. **Trades:** Total number of trades, including an ongoing trade if one is open at test completion. **Winners:** Total number of winning trades, including an ongoing trade if one is open at test completion. **Net Liquidity (Net Liq)**: The sum of the portfolio’s cash, added to the mid-value of any open options position ### [](https://docs.optionomega.com/backtesting/backtest-results#summary-screen) Summary Screen At the bottom of the backtest results screen is the summary screen. It has two main tabs, the Summary and the Trade Log. The summary section has two parts: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FhffqzDuKQwtPZmZWg8JQ%252FSummary-Screen-and-trade-log-1024x293.png%3Falt%3Dmedia%26token%3D9068d5a5-3647-45d2-bc71-4e1071e50e79&width=768&dpr=4&quality=100&sign=7b8f9bb2&sv=2) The first part is a graph visually representing the trading funds by date in the backtest. For a backtest, the graph will only update when trades close. Tip: In order to see intra-trade drawdowns of a multi-day trade, you can put the backtest into a portfolio. Annual metrics bar chart. This is the return of the backtest as well as its maximum drawdown. If the test is multi year, the metric will display the yearly return and the maximum cumulative drawdown in that year (e.g. if the test ends the year 2023 with a 10% MDD, and the drawdown continues an additional 5% in 2024 before recovering, then the MDD shown in the annual metrics bar for 2024 would be 15%). Said another way, the MDD in the annual metrics bar will match the highest MDD reported in the daily log for that year. The other tab at the bottom of the backtests results screen is the Trade Log. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FECZLt6IOJuHt17PAWiHQ%252FSummary-1024x293.png%3Falt%3Dmedia%26token%3D4e64c6d9-6856-4ba1-b426-70591f504ec7&width=768&dpr=4&quality=100&sign=7a4d6440&sv=2) At the top right of the screen there are several options for customizing the trade log. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FDbKjPJR9Ua8hEfcjcfns%252FSummary-Options-Screen-1.png%3Falt%3Dmedia%26token%3D91518252-9c9d-4f1b-b632-0b2e70debe03&width=768&dpr=4&quality=100&sign=708b51d2&sv=2) Sort: Tests can be sorted by opened, closed and P/L. The next box can sort ascending and descending. Filter: The log can be filtered to view only winners or only losers. ### [](https://docs.optionomega.com/backtesting/backtest-results#trade-replay) Trade Replay ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FDDsuJJqP24XSqJxA2uGp%252FTrade%2520Replay.png%3Falt%3Dmedia%26token%3D6364f75d-34b8-49f0-b842-150843e50883&width=768&dpr=4&quality=100&sign=2d6dc2ba&sv=2) If you click the three vertical lines on the left, you will be able to see the Trade Replay– how the trade behaved over time. The graph also shows VIX and the underlying. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F2SAl1tkDOSF2CTaIzCh9%252FTrade%2520Replay%2520Graph.png%3Falt%3Dmedia%26token%3Dfc28adb7-ddc7-4a54-b3e3-d918a69b13f6&width=768&dpr=4&quality=100&sign=7cf21cf9&sv=2) Note, the trade replay is based on 1 minute data, so if you’re using IMSL, that will not be reflected. ### [](https://docs.optionomega.com/backtesting/backtest-results#export-to-csv) Export to CSV This will export the trade log to a .csv file, so it can be opened and used in Microsoft Excel, Google Sheets, IOS, etc. etc. When a backtest is exported to CSV, the context that is given in the visual trade log on the backtest results screen is lost. Specifically, if you’re wondering about a certain value (e.g. why is my max profit that number), it is helpful to refer to the trade log to see which values are precents vs. raw numbers, etc. ### [](https://docs.optionomega.com/backtesting/backtest-results#trade-log-settings) Trade Log Settings The gear icon will open up a screen with additional customization choices. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FBZ4I5FETon5T6PTNinHl%252FTrade-Log-Settings.png%3Falt%3Dmedia%26token%3Dc7b7b8b0-69d3-4baf-98ee-c59c8d8f910d&width=768&dpr=4&quality=100&sign=651468db&sv=2) Clicking on the red/green eye option on the right side of the screen will allow the selection to be turned on or off in the trade log. The selections are described below: **Opened On:** The day, dates and time the trade opened. **Opening Price:** Price of the underlying at the time the trade opened. **P/L:** The amount the trade profited or lost (measured in $) **Max Loss:** The maximum loss the trade was “down” (measured in %) **Max Profit:** The maximum gain the trade was “up” (measured in %) **Legs:** The quantity, date, strike and type (put/call) of the leg. **Premium:** The amount of debit or credit at the time of trade open (impacted by slippage if used). **Closing Price:** Price of the underlying at the time the trade closed. **Closing Cost:** The amount of debit or credit at the time of trade close (impacted by slippage if used). **Reason for close:** The trigger that exited the trade. **Margin Req’d:** While we have made every effort to have accurate and realistic margin modeling, margin requirements DO vary between brokerages. **Funds at close:** Current funds after the trade closed. **Opening S/L ratio**: Total short premium divided by total long premium. **Opening S/L ratio**: Total short premium divided by total long premium. **Opening VIX:** VIX at time of trade open (will not display unless VIX is an entry condition). **Closing VIX:** VIX at time of trade closed (will not display unless VIX is an exit condition). **Gap:** Underlying price gap from close of previous day to opening of current day **Movement:** Underlying price movement from open of day to opening the trade ### [](https://docs.optionomega.com/backtesting/backtest-results#sorting-the-trade-log) Sorting the trade log It is possible to sort the trade log using several filters, including Max Profit/Loss, P/L, and Opening /Closing. You can also sort ascending or descending, and filter winners or losers. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FYN6kOHmGM6iEj6uVrWYv%252FSorting%2520the%2520trade%2520log.png%3Falt%3Dmedia%26token%3D5eae2095-eb1e-4f1b-9e8c-e91eeef790b4&width=768&dpr=4&quality=100&sign=65847eaf&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-results#save-tag-and-share-a-backtest) Save, Tag & Share a backtest If you have a backtest that you want to save, click the down arrow at the backtest results screen. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F8F3lLYeuTNT50mj97hFb%252FSave%2520a%2520backtest.png%3Falt%3Dmedia%26token%3Dbdf28797-3b5c-4e45-89bb-b26c108407af&width=768&dpr=4&quality=100&sign=ae74fb3b&sv=2) This will bring up the Save Backtest screen, which let’s you either save a new backtest, or save over (replace) an existing backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fqp2TwkHl28A2DjD66x3a%252FSave%2520Backtest%2520screen.png%3Falt%3Dmedia%26token%3D6ba2dd88-8bc5-4c11-a65e-773d622c21cf&width=768&dpr=4&quality=100&sign=e9721080&sv=2) If you select the “Create New Backtest” button, you can now name the backtest, along with a description, and tagging, and sharing. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FtFdh7jFmrEmva0Mtbk97%252FCreate%2520New%2520Backtest.png%3Falt%3Dmedia%26token%3D03e817cd-12b6-4073-8a13-88a76bf16402&width=768&dpr=4&quality=100&sign=f3ff16ef&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-results#adding-tags) Adding Tags Tags are an easy way of organizing your backtests. You can add a new tag by typing and then hitting the plus button ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fe66SYxOQdkYZ4VOZuipH%252FTags.png%3Falt%3Dmedia%26token%3De532325d-fc34-4b18-8491-60f5e6c9f371&width=768&dpr=4&quality=100&sign=41a4928b&sv=2) The tag will then show up in your backtest name (we have two tags here “Add new tags here!” and “CL” in this example). [Here’s a video on tagging.](https://youtu.be/KU7wDKYtrV4?si=MFEX7-ekMA3rkwN6) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FxgPWexq7gw7JEOjQOg1i%252FAdd%2520new%2520tags%2520here.png%3Falt%3Dmedia%26token%3Dc438a560-504e-4587-b76e-09d67d705b3c&width=768&dpr=4&quality=100&sign=b6badb45&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-results#sharing-a-test) Sharing a test To share a test, select share test with others when you’re saving the backtest ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FYqGjyNWpt7uQ3ZVk9WVw%252FSharing%2520a%2520test.png%3Falt%3Dmedia%26token%3D43e1901b-d74c-4d27-b2af-927371ea2048&width=768&dpr=4&quality=100&sign=f86ab8eb&sv=2) To get the link to the test, just click the chain link button near the test name ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FwwfpCu9adUzSv4VQHEoM%252FClick%2520the%2520Link.png%3Falt%3Dmedia%26token%3D5a28ae88-03b8-4998-8d6e-2a6ed403f024&width=768&dpr=4&quality=100&sign=b9900b4d&sv=2) [Here’s a video on saving & sharing a backtest](https://youtu.be/hEQskRrPGZw) [PreviousBacktest Setup](https://docs.optionomega.com/backtesting/backtest-setup) [NextPortfolios](https://docs.optionomega.com/backtesting/portfolios) Last updated 22 days ago * [Displayed Metrics](https://docs.optionomega.com/backtesting/backtest-results#displayed-metrics) * [Summary Screen](https://docs.optionomega.com/backtesting/backtest-results#summary-screen) * [Trade Replay](https://docs.optionomega.com/backtesting/backtest-results#trade-replay) * [Export to CSV](https://docs.optionomega.com/backtesting/backtest-results#export-to-csv) * [Trade Log Settings](https://docs.optionomega.com/backtesting/backtest-results#trade-log-settings) * [Sorting the trade log](https://docs.optionomega.com/backtesting/backtest-results#sorting-the-trade-log) * [Save, Tag & Share a backtest](https://docs.optionomega.com/backtesting/backtest-results#save-tag-and-share-a-backtest) * [Adding Tags](https://docs.optionomega.com/backtesting/backtest-results#adding-tags) * [Sharing a test](https://docs.optionomega.com/backtesting/backtest-results#sharing-a-test) --- # Getting Started | Option Omega Documentation _Note: Broker setup is covered at the end of this page— this must be enabled before a strategy will automate._ This page has a step-by-step for setting up a sample automation strategy. Additionally, [Automation Bootcamp on Option Omega Academy](https://academy.optionomega.com/course/automation-bootcamp) has been designed as visual companion to the written docs. It is beneficial for a user to have a keen grasp on both backtesting and strategies, and a familiarity with the information in both [Backtesting Bootcamp](https://academy.optionomega.com/course/backtesting-bootcamp) and [Automation Bootcamp](https://academy.optionomega.com/course/automation-bootcamp) . Strategies can be created by the user one of two ways: from scratch, or from the user's backtests. Let's look at creating from a backtest. Start by clicking "Test=>Tests", and bringing up a saved backtest. You'll now notice a big purple button that says "Created Automated Strategy". If you select this, a new window will appear that auto populates certain values based on the backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F40biYqEV5Yf2MlbZWJPY%252Fimage.png%3Falt%3Dmedia%26token%3D8cab06d5-fa4f-400e-9db2-07e6b5f2fba6&width=768&dpr=4&quality=100&sign=2f041a0b&sv=2) The first thing to note is the "Is Active" button. This is off by default. You can create and edit strategies. To automate them, this button will have to be selected. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FHDQkmm3S33bDLIaW5UPv%252Fimage.png%3Falt%3Dmedia%26token%3De2a9be7e-b3b4-42ee-afce-d65c4c65b497&width=768&dpr=4&quality=100&sign=1d5a573d&sv=2) You can name, describe and tag your strategy. You will also need to link to a brokerage account for it to be automated (more on that later). Instead of stepping through even single variable, let's look at some key things that are unique to the strategy creation screen. Under funds and allocations, the user must select one of three different allocation types: percentage, fixed value, or fixed quantity. This is a setup differently in the backtest (where you can have multiple limiters). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Ffb17PajYUyd3i7kkm5xD%252Fimage.png%3Falt%3Dmedia%26token%3D94d33ec6-0675-4ffe-b618-8ab4d7b702a5&width=768&dpr=4&quality=100&sign=d716029d&sv=2) Other key things to review are the [PT and SL Order Types](https://docs.optionomega.com/automation-beta-resources/profit-target-and-stop-loss-order-types) , as well as [Trade Management](https://docs.optionomega.com/automation-beta-resources/trade-management) . Also, you'll want to take a look at the Execution Parameters at the bottom. You can setup the price increment and speed interval of how aggressive you want the automation tool to enter and exit trades. Additionally, you can "Add Exit Execution Overrides" if you want a certain exit condition to function more or less aggressively. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FS0MHjnP75XY5L6Wl5bld%252Fimage.png%3Falt%3Dmedia%26token%3D490a9435-ef60-4bf4-b105-a49ea21a9723&width=768&dpr=4&quality=100&sign=a9c03809&sv=2) Lastly, to setup a broker, you'll want to go to settings (upper right), and the trading. You can add a broker, as well as configure email alerts there. If you try to launch a strategy before you have setup the broker, the platform will not function properly. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9HSRk79Ufus62IbKb1NB%252Fimage.png%3Falt%3Dmedia%26token%3Dcc5ffa42-3fd3-4d18-9156-e93c34e8ac1a&width=768&dpr=4&quality=100&sign=914294e7&sv=2) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F0e9R9D9hDGNjyCy4tUvO%252Fimage.png%3Falt%3Dmedia%26token%3D808c4e15-00c7-41fd-9fc6-6d310cab1c11&width=768&dpr=4&quality=100&sign=50ba260d&sv=2) Finally, and this is important, users of the platform should be following the [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) channel on the Discord. All of the technical support/questions for why did something happen/not happen is on the Discord. It's the fastest and best way to stay up to date. Additionally, if there is a time-sensitive notification, it will be posted in [#known-issues](https://discord.com/channels/882705067210317915/1377977525933834260) . [PreviousRead this first- Brokerage Details](https://docs.optionomega.com/automation/read-this-first-brokerage-details) [NextStrategy Setup](https://docs.optionomega.com/automation/strategy-setup) Last updated 4 months ago --- # Setup and Use | Option Omega Documentation The modeling tool is intuitive by design, and allows users to save, modify and track trades througout the life of the trade. [Here is a video of the basic functions](https://youtu.be/OHAX2HuH-ig) . To start, navigate to "model" at the top of the site and select either "Model" (for saved models) or "Create New Model" ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9eaPqC3eVtaIqpiVARft%252Fimage.png%3Falt%3Dmedia%26token%3D9186c57e-e5bd-4e0f-a501-66b87d635b11&width=768&dpr=4&quality=100&sign=f6483027&sv=2) It's easy to create a new model. Let's do a call debit spread (long call and short call). Simply left click the "Mid(Buy)" to add the long call leg. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F37VToRXxLoRtWNYo2NSV%252Fimage.png%3Falt%3Dmedia%26token%3Dcb8bdbca-d07d-4da1-8d34-131a0615d677&width=768&dpr=4&quality=100&sign=73bbf575&sv=2) Then, left click the "Mid(Sell)" to add the short call leg. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FwDB4KlJ6ik9k4qze2tsx%252Fimage.png%3Falt%3Dmedia%26token%3D4f831a3a-13fa-40cd-a693-999d912c21ee&width=768&dpr=4&quality=100&sign=a7e15e8c&sv=2) You will see the legs added to the chain, and also at the right. To view it visually, click either the "View Chart" at the right, or "Chart" at the top. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FpS0CULBwtZmLAM7XaOO8%252Fimage.png%3Falt%3Dmedia%26token%3D8dc944bb-f631-44a4-bc7a-d0187de0ad2f&width=768&dpr=4&quality=100&sign=eb3927b5&sv=2) Greeks can be added at the top right. Let's add delta and charm. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fk1r9KW5OiCunpsDtKjtG%252Fimage.png%3Falt%3Dmedia%26token%3Df2ee96a7-7527-4d4a-952b-cb409d57b81c&width=768&dpr=4&quality=100&sign=d16dc032&sv=2) Users can click "3d" to model in 3d. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FVRP1PZ9MCCRyEMBLCWX0%252Fimage.png%3Falt%3Dmedia%26token%3D65da162d-3cb8-4296-a8c8-949432946e82&width=768&dpr=4&quality=100&sign=ec4790db&sv=2) Greeks are also displayed along the bottom of the screen. If the users selects 2d, they have have options to adjust the time, range and IV of the model. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FWEc8W7bxeXx45WJyVmIi%252Fimage.png%3Falt%3Dmedia%26token%3D2e32a231-3974-40aa-a1c0-5568c93af87f&width=768&dpr=4&quality=100&sign=1c087bfe&sv=2) To save the model, simply click "Save" ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FCwexF67mS4yR3U6J0XvS%252Fimage.png%3Falt%3Dmedia%26token%3D68f523c0-d64e-4b33-844d-18362e6843f0&width=768&dpr=4&quality=100&sign=ee4709d6&sv=2) Users can change the pricing, give the model a name, give the model a description, and also chose to enable sharing to share the model with a friend. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FrsKbrzPCLSmR0nqFAT1U%252Fimage.png%3Falt%3Dmedia%26token%3D8ad29c65-0b2d-4973-9b19-3240eba33c59&width=768&dpr=4&quality=100&sign=7474086f&sv=2) Saved models will show up under the "Model" page now. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FkhxP5nMX6WZIdftZUP38%252Fimage.png%3Falt%3Dmedia%26token%3Dd218be37-8b1a-4a0a-91ae-ed84173eae94&width=768&dpr=4&quality=100&sign=9cff9bd3&sv=2) That's the basics! We'll continue to add more to the documentation for modeling. [PreviousTrade Smart: InfoStation](https://docs.optionomega.com/automation/trade-smart-infostation) [NextModeling FAQ](https://docs.optionomega.com/modeling/modeling-faq) Last updated 1 month ago --- # Strategy Setup | Option Omega Documentation [](https://docs.optionomega.com/automation/strategy-setup#getting-started) Getting Started ----------------------------------------------------------------------------------------------- The automation platform can be found under the "Trade" dropdown on Option Omega. You can choose: Live- to view the current activity of the platform Strategies- to view and manage your strategy library Reporting- to generate and view information about the automations ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fr1pkqSAJcbDVhtfxz0ov%252Fimage.png%3Falt%3Dmedia%26token%3D036213de-0c03-44c0-82ce-efdda82704d2&width=768&dpr=4&quality=100&sign=22d3d075&sv=2) [](https://docs.optionomega.com/automation/strategy-setup#strategy-creation) Strategy Creation --------------------------------------------------------------------------------------------------- The process of automation beings with creating a strategy. There are two choices: creating a strategy from scratch or creating a strategy from a backtest. [](https://docs.optionomega.com/automation/strategy-setup#creating-a-strategy-from-scratch) Creating a Strategy from scratch --------------------------------------------------------------------------------------------------------------------------------- If you wish to create a strategy from scratch, simply click "+ New Strategy" in the Trade/Strategies page. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FSOTDQjCIPKmFhkUfz3ln%252Fimage.png%3Falt%3Dmedia%26token%3Df0d7a8d8-e3a8-43c9-85ec-44871d91e85b&width=768&dpr=4&quality=100&sign=262b2f37&sv=2) [](https://docs.optionomega.com/automation/strategy-setup#creating-a-strategy-from-a-backtest) Creating a Strategy from a backtest --------------------------------------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F0E3C5NuPlIOU1Ybor3s2%252Fimage.png%3Falt%3Dmedia%26token%3Dde89bb3d-d1fc-41cc-a49b-a5011b5f1f43&width=768&dpr=4&quality=100&sign=a7ac2c18&sv=2) If you wish to create a strategy from a backtest, simply click "Create Automated Strategy" from a backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F7mkYNU7qzq9GbrDZg47B%252Fimage.png%3Falt%3Dmedia%26token%3D4c813666-7471-4a1d-b15f-1887e1960f0c&width=768&dpr=4&quality=100&sign=e0231aee&sv=2) The first option when a new strategy is created is to select if that strategy is active or not. An active strategy will be managed by the automation platform. An inactive strategy will not. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FbuC9qWTdZIXdSXn1VN5m%252Fimage.png%3Falt%3Dmedia%26token%3D450cbe35-ea33-4af8-b5ef-588c11f22def&width=768&dpr=4&quality=100&sign=7ee7181d&sv=2) After the strategy is named, you can select which brokerage account you want the strategy to be automated in. Like a backtest on the platform, you can chose to apply an existing tag or add a new tag to the strategy. [](https://docs.optionomega.com/automation/strategy-setup#funds-and-allocations) Funds & Allocations --------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F8MDc08ztnn1N0ygEvx30%252Fimage.png%3Falt%3Dmedia%26token%3Dca707398-2f5d-4145-990a-84fdf90b6b44&width=768&dpr=4&quality=100&sign=3e813c0&sv=2) Percentage In the automation platform, you must chose one of three allocation types: percentage, fixed value, and fixed quantity. Note, the calculations in the automation platform are the same architecture as the backtester. I.E they are based on Reg-T and not Portfolio (or other) types of margin accounts. Percentage will use the % of the specified account. The calculation is based on account NLV, but the user will also have brokerage BP requirements. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FHZSGqR1G4T7NL7Pu2rhj%252Fimage.png%3Falt%3Dmedia%26token%3Dcad82148-dc9a-44b3-9cf5-a47a5597418a&width=768&dpr=4&quality=100&sign=30157d37&sv=2) Fixed Value Fixed value will use a Max Allocation for the trade. This will cap the value of the entire trade regardless of the contract quantity. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FXUVuqcO5yeN9u3q7bS4t%252Fimage.png%3Falt%3Dmedia%26token%3D4b702732-54ff-4279-b49a-5d9647173c2d&width=768&dpr=4&quality=100&sign=abdbd4dd&sv=2) Fixed Quantity Fixed Quantity will cap the number of contracts to the specified amount in the "Max Contacts Per Trade" field. Note, both the automation platform and brokers have allocation checks. These must pass before a strategy is traded. If a check fails from the OO platform, the user will receive an "Insufficient buying power to open trade" message. If a check fails from the broker, the log will show a message to that effect from the broker. [](https://docs.optionomega.com/automation/strategy-setup#strike-conflict) Strike Conflict ----------------------------------------------------------------------------------------------- The user has multiple choices for strike conflict resolution. If any strikes are conflicted, the default behavior is to skip the trade. However, the user can also select "Move Conflicted Strikes", which is detailed in the in-app tooltip. This selection will allow the software to attempt to move any conflicted strikes to the next nearest strike using the leg selection criteria: fixed price, offset, deltas, etc. For parent/child legs if a parent conflicts, any children will automatically move with it. if a child conflicts, the parent will only be moved if the exact offset (green padlock) is toggled on ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FUi9klhEzr81wR53JXX9b%252Fimage.png%3Falt%3Dmedia%26token%3D72d89ffd-1685-4ab2-865e-1604da139db3&width=768&dpr=4&quality=100&sign=b201f4b7&sv=2) Move conflicted strikes [](https://docs.optionomega.com/automation/strategy-setup#entry-execution) Entry Execution ----------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fw0gEEeznI1uaTOuYiOLz%252Fimage.png%3Falt%3Dmedia%26token%3Da930bbfc-3740-49b2-9a06-ef292f1fcf1b&width=768&dpr=4&quality=100&sign=e6687c2e&sv=2) Entry Execution The entry price of the trade that the automation platform will submit as a limit order is determined by the NBBO at the opening of the trade. The entry execution field allows you to configure the speed and price adjustment. For example, you can set a trade to adjust .10 every 10 seconds. _Note, the interval and max attempts fields must be less than 55 seconds when multiplied together._ _Additional note: there is a functionality for configuring the entry time in entry execution,_ [_which is detailed here_](https://docs.optionomega.com/automation-beta-resources/entry-time-configuration) _._ [](https://docs.optionomega.com/automation/strategy-setup#exit-execution) Exit Execution --------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FeMcRAF4rq4P9BBK2ajAI%252Fimage.png%3Falt%3Dmedia%26token%3Dbacb1be9-10e1-4301-bf37-2656236d4371&width=768&dpr=4&quality=100&sign=85ed94fd&sv=2) Exit Execution The exit price of the trade that the automation platform will submit as a limit order is determined by the NBBO at the opening of the trade. The exit execution field allows you to configure the speed and price adjustment. For example, you can set a trade to adjust .10 every 10 seconds. Additionally, you have the option to switch to a market order after a certain number of attempts (Note— the market order ability is only available on certain order types on certain brokers. Tradier and ToS/Schwab allow market orders to close options spreads via API; tastytrade does _not_ currently support market orders for multi-legged trades). _Note, the interval and max attempts fields must be less than 55 seconds when multiplied together._ In the event a trade does not exit (while using a platform managed exit or stop), at the top of each (i.e. the next) minute, the platform will reset the order price to the current mid price and re-attempt the fill progression sequence.  [](https://docs.optionomega.com/automation/strategy-setup#ignore-bidless-longs) Ignore Bidless Longs --------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FgfqSsHTRhZXY07ozdKpB%252Fimage.png%3Falt%3Dmedia%26token%3De5bde550-5b52-42d2-939a-b8c200b5fc90&width=768&dpr=4&quality=100&sign=c5317429&sv=2) Ignore Bidless Longs Selecting "Ignore Bidless Longs" will allow the platform to bypass closing the bidless longs on exit execution. _Note: this option is applicable only for spread-type trades. If you turn it on for a single-leg trade, the platform WILL NOT ignore the bidless long and will attempt to exit the trade._ [](https://docs.optionomega.com/automation/strategy-setup#execution-override) Execution Override ----------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FQtfB4qixnc94iXqS0v74%252Fimage.png%3Falt%3Dmedia%26token%3D0d5bffd5-68e7-4657-bda4-6a365cbd1a82&width=768&dpr=4&quality=100&sign=4b0b49c2&sv=2) Execution Override Execution override allows you set a custom exit if you have an exit condition that you want to treat differently from the standard exit execution. [](https://docs.optionomega.com/automation/strategy-setup#starting-offset) Starting Offset ----------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FCWISE0qcDmHnGvmDyAvv%252Fimage.png%3Falt%3Dmedia%26token%3Dca7ac9a9-a79e-4d85-aa46-38c094dfbcf4&width=768&dpr=4&quality=100&sign=85c557a3&sv=2) Starting Offset Users can specify a "starting offset" as both entry and exit execution parameters; this value can be positive or negative, and will instruct the automation platform to start the order fill sequence above/below the current mid price by the value specified. Note— this adjustment is an absolute value, not a directional offset. The platform will not adjust to credit / debit - it simply adds the offset to the current mid price at entry. **Entry execution examples:** * If you are selling a $3.00 credit spread (STO), a $0.10 offset will result in a $3.10 initial (relaxed) entry, whereas a $-0.10 offset will result in a $2.90 (aggressive) entry. * Conversely, if you are buying a $3.00 debit spread (BTO), a $0.10 offset will result in a $3.10 initial (aggressive) entry, whereas a $-0.10 offset will result in a $2.90 (relaxed) entry. **Exit execution examples:** * If you are exiting with a $3.00 credit spread (STC / closing a DC), a $0.10 offset will result in a $3.10 initial (relaxed) exit, whereas a $-0.10 offset will result in a $2.90 (aggressive) exit. * If you are exiting with a $3.00 debit spread (BTC / closing an IC), a $0.10 offset will result in a $3.10 initial (aggressive) exit, whereas a $-0.10 offset will result in a $2.90 (relaxed) exit. [PreviousGetting Started](https://docs.optionomega.com/automation/getting-started) [NextProfit Target and Stop Loss Order Types](https://docs.optionomega.com/automation/profit-target-and-stop-loss-order-types) Last updated 2 months ago * [Getting Started](https://docs.optionomega.com/automation/strategy-setup#getting-started) * [Strategy Creation](https://docs.optionomega.com/automation/strategy-setup#strategy-creation) * [Creating a Strategy from scratch](https://docs.optionomega.com/automation/strategy-setup#creating-a-strategy-from-scratch) * [Creating a Strategy from a backtest](https://docs.optionomega.com/automation/strategy-setup#creating-a-strategy-from-a-backtest) * [Funds & Allocations](https://docs.optionomega.com/automation/strategy-setup#funds-and-allocations) * [Strike Conflict](https://docs.optionomega.com/automation/strategy-setup#strike-conflict) * [Entry Execution](https://docs.optionomega.com/automation/strategy-setup#entry-execution) * [Exit Execution](https://docs.optionomega.com/automation/strategy-setup#exit-execution) * [Ignore Bidless Longs](https://docs.optionomega.com/automation/strategy-setup#ignore-bidless-longs) * [Execution Override](https://docs.optionomega.com/automation/strategy-setup#execution-override) * [Starting Offset](https://docs.optionomega.com/automation/strategy-setup#starting-offset) --- # Portfolios | Option Omega Documentation ### [](https://docs.optionomega.com/backtesting/portfolios#what-are-portfolios) What are Portfolios? Portfolios are an extremely powerful tool that allows the user to run multiple backtests dynamically over time. If you prefer a video summary, [this may be helpful.](https://youtu.be/setuUdiYrFk) [](https://docs.optionomega.com/backtesting/portfolios#setting-up-a-portfolio) Setting up a Portfolio ---------------------------------------------------------------------------------------------------------- In the web app, select the portfolio (circled) and click + New Portfolio (arrowed). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F93eb7Gqeor1VudZChuex%252FSetting%2520up%2520a%2520Portfolio.png%3Falt%3Dmedia%26token%3Dd17104b3-c6d7-4073-9081-061d9e5f2584&width=768&dpr=4&quality=100&sign=f503cc30&sv=2) This will bring up your main screen to create and manage the portfolio. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FB1lkxGTraGrOQR8ELZsO%252Fmanage%2520the%2520portfolio.png%3Falt%3Dmedia%26token%3Dd2ad1ef0-8751-4b34-abcf-5bd0f2b22c0b&width=768&dpr=4&quality=100&sign=9e514950&sv=2) You will at first see fewer options than the backtest creation screen. Starting funds and a date range are required to be selected. NOTE: the starting funds and date range for the portfolio will OVERRIDE the starting funds and date range for the saved tests (it won’t actually change the saved tests, but for the purposes of the portfolio, it will use the portfolio starting funds and date range). Note: When running a portfolio, you can override “Close Tests on Completion”, to close any open backtests. After selecting these two items, the fun part begins! You will see a list of the saved backtests — portfolios are built from saved backtests– so if you want to create one from scratch, you will need to save the backtests that you want to incorporate first. Note that there is a searchable field (for names) for users who have an abundance of backtests. You can also select tags to narrow down the tests, since many users like to run portfolios on a certain type of shared strategies. The allocation field is critical. Similar to the starting funds, the allocation for the portfolio will OVERRIDE whatever the individual test(s) have as an allocation. Importantly, the allocation does NOT have to add up to 100%. It can sometimes be more than 100% (depending on the length of tests, etc.). It may often be less than 100% as well. [This video on portfolio allocation may be helpful.](https://youtu.be/-pj-zXzuSak) There is now also a choice to contract cap at the porfolio level. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FVzo9qIhrfUgm5bv1gMhX%252Fmax%2520contracts.png%3Falt%3Dmedia%26token%3D4c21c05d-7d60-4d5a-bde9-e11adff8ed9c&width=768&dpr=4&quality=100&sign=ab55cb60&sv=2) **Max contracts can now be overridden when creating portfolios**, similar to allocation percentage. If allocation and max contracts are both used and they are different amounts (and would normally be the case), whichever is smaller will be the decider. To add tests to the portfolio, simply select the check box. Once a test has been selected, it will be filled with an arrow, showing the test is a part of the portfolio. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FfuP7wt1eYoR3IkYN258D%252Fportfolio%2520list.png%3Falt%3Dmedia%26token%3Dd68926aa-1841-4d55-bd79-f8c3d32cbad1&width=768&dpr=4&quality=100&sign=2d246ae5&sv=2) Once all the desired tests have been selected, it’s time to hit run, just like with a backtest. [](https://docs.optionomega.com/backtesting/portfolios#portfolio-results-screen) Portfolio Results Screen -------------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FiNYUsR6rnFilAR45EELx%252Fportfolio%2520results%2520screen.png%3Falt%3Dmedia%26token%3Dec0d3261-5f0b-4c47-864d-472b3906c8f9&width=768&dpr=4&quality=100&sign=29e4991e&sv=2) The portfolio results screen will display many of the same metrics that the [backtest results screen](https://optionomegadocs.com/?docs=docly-documentation/getting-started/backtest-results#displayed-metrics) does. **Dates:** The range the test ran. **P/L:** Shows the overall profit or loss of the strategy during the time range. Note: Portfolio P/L is net liquidity end of day (EOD); the trade log PnL is closed trades only. **CAGR:** The compound annual growth rate of the strategy during the test. CAGR is based upon net liquidity, so it involves open trades. **Max Drawdown:** The max drawdown at EOD. If a trade is open, then the EOD value is used for MDD calculations. If the trade closes, then the loss is used for MDD calculations. (Please note: This is different from the max loss column on the trade log, which is intraday). **MAR Ratio:** CAGR / MDD **Total Premium**: The total amount of credit or debit. **Capture rate:** The % of the trade value that was realized. **Starting capital**: The amount of $ at the beginning of the backtest. **Ending capital:** The amount of $ and the end of the backtest. [](https://docs.optionomega.com/backtesting/portfolios#portfolio-results-screen-graphs) Portfolio results screen graphs ---------------------------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F2s5Qgns0C9og1msJ7u3o%252FPortfolio%2520results%2520screen%2520graphs.png%3Falt%3Dmedia%26token%3D35fc6448-62b4-4325-b4da-08fda6fcda5a&width=768&dpr=4&quality=100&sign=ba4e87fc&sv=2) The bottom of the portfolio screen displays two summary graphs. The one on the left graphs net liquidity vs the benchmark, and the one on the right graphs the performance and max drawdown of both the portfolio and the benchmark. The daily log and trade log columns both function similar to these columns in backtests. Strategies is unique to portfolios. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FJCiXQ3lvstuLWjFb5dLE%252Fsnapshot%2520of%2520which%2520backtests.png%3Falt%3Dmedia%26token%3De1fbd41d-b129-4cf6-b4ad-be999861b58f&width=768&dpr=4&quality=100&sign=7ba03a42&sv=2) Selecting strategies will provide a snapshot of which backtests were selected, including the details of the allocation in the portfolio. The **Daily Log** report is also unique to portfolios, each column in the daily log summarizes the end of day values for the combined total impact of all open and closed trades in the account. **Net Liquidity:** Account NLV value, includes EOD value of open trades, includes withdraws, used to calculate P/L and drawdowns **Current Funds:** Account value not including P/L of open trades (only updated when trades close), includes withdraws **Total Withdrawn:** Running total amount withdrawn when using montly account withdraw options **Trading Funds:** Account value not including P/L of open trades (only updated when trades close), does not include withdraws, used for % account position sizing **P/L:** P/L at end of day, measured from prior day Net Liquidity **P/L %:** P/L at end of day measured relative to prior day Net Liquidity **Drawdown %:** Calculated from the maximum prior Net Liquidity value compared to the current Net Liquidity. Note, if running a PoO (Portfolio of One), you will find the max Drawdown % will match the Max Drawdown on the report page. [](https://docs.optionomega.com/backtesting/portfolios#sharing-the-portfolio) Sharing the Portfolio -------------------------------------------------------------------------------------------------------- Saving a portfolio is easy. It is a similar process to saving a backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9xsCQKcLtYAkPJbIIO2f%252FSaving%2520a%2520portfolio.png%3Falt%3Dmedia%26token%3D61e6acb4-709a-497e-b2cf-38e778b8d764&width=768&dpr=4&quality=100&sign=a7e41f8a&sv=2) Select the icon next to New Portfolio. This will bring up the Save Portfolio choices. The process works the same as with backtests, including tagging and sharing the portfolio with other OO users. [](https://docs.optionomega.com/backtesting/portfolios#recent-portfolio-runs) Recent Portfolio Runs -------------------------------------------------------------------------------------------------------- Similar to recent runs in a backtest, users can navigate/view recent portfolio runs for quick analysis ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F69gMKwZn3PcmI6nW2pmD%252Fimage.png%3Falt%3Dmedia%26token%3D72b32ec0-fb17-471d-ae26-b71811d4ad04&width=768&dpr=4&quality=100&sign=336dc3c8&sv=2) [PreviousBacktest Results](https://docs.optionomega.com/backtesting/backtest-results) [NextAdvanced Options](https://docs.optionomega.com/backtesting/advanced-options) Last updated 2 months ago * [What are Portfolios?](https://docs.optionomega.com/backtesting/portfolios#what-are-portfolios) * [Setting up a Portfolio](https://docs.optionomega.com/backtesting/portfolios#setting-up-a-portfolio) * [Portfolio Results Screen](https://docs.optionomega.com/backtesting/portfolios#portfolio-results-screen) * [Portfolio results screen graphs](https://docs.optionomega.com/backtesting/portfolios#portfolio-results-screen-graphs) * [Sharing the Portfolio](https://docs.optionomega.com/backtesting/portfolios#sharing-the-portfolio) * [Recent Portfolio Runs](https://docs.optionomega.com/backtesting/portfolios#recent-portfolio-runs) --- # Backtest Setup | Option Omega Documentation ### [](https://docs.optionomega.com/backtesting/backtest-setup#your-first-backtest) Your First Backtest To create a new backtest, hit the “New Backtest” button on your dashboard ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3fpjOEuo22HXOZSRRVs4%252FnewBacktestButton-1024x65.png%3Falt%3Dmedia%26token%3D8ed32968-0c32-4e8b-ab82-fcd40a5bb1a2&width=768&dpr=4&quality=100&sign=6e878833&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#tickers) Tickers Available backtesting tickers are SPY, SPX, QQQ, IWM, AAPL and TSLA. _Note: SPX is afternoon expiries only._ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F6dBPDRxO4jSwUCNFgxtE%252Fticker-1024x291.png%3Falt%3Dmedia%26token%3D8af74237-4216-42fb-b007-0cc95b8c3c2a&width=768&dpr=4&quality=100&sign=f656c2a6&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#dates) Dates Users can test as far back as 1/1/13, and as most recent as yesterday. Data is updated before market open for the previous day. I.E. By 01/20/2025 9:30 a.m., 1/191/2025 would be available in the backtester. (Often times it is updated by 3 a.m.) Since the stock market (and our tester) is based off US New York Time (GMT-5), please be aware internationally of the date/time selected. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FBIl8bJGoZ69yOy7qSvWb%252Fdates.png%3Falt%3Dmedia%26token%3Dc1a4fb89-3250-43ba-b4b4-982734065269&width=768&dpr=4&quality=100&sign=2cbe15c2&sv=2) We have some nice little bubbles with popular timeframes that will auto populate for you ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F0gzZqCLZX5wjcNri4gOr%252Fdates1.png%3Falt%3Dmedia%26token%3D87340e67-b28e-413c-9b66-b972ab05de5d&width=768&dpr=4&quality=100&sign=81b11153&sv=2) If you notice on the “End Date” field, we have a little arrow. That will populate the last available trading day ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fa5U2Pt9QJbLb6a62nNIC%252Fdates2.png%3Falt%3Dmedia%26token%3D2a4d0837-c7b8-4075-b3b2-f2239636a8ad&width=768&dpr=4&quality=100&sign=6682b3ef&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#building-your-strategy) Building Your Strategy Under the “Strategy” section, we have a list of common strategies that you can choose from if you don’t want to create your own. Below is information about each one. _Please note, all examples are from The Options Playbook and_ tasty_live._ * [Butterfly](https://www.optionsplaybook.com/option-strategies/long-call-butterfly-spread/) * [Calendar](https://www.optionsplaybook.com/option-strategies/calendar-call-spread/) * [Double Calendar](https://www.tastylive.com/concepts-strategies/calendar-spread) * [Iron Condor](https://www.optionsplaybook.com/option-strategies/iron-condor/) * [Iron Fly](https://www.optionsplaybook.com/option-strategies/iron-butterfly/) * [Jade Lizard](https://www.tastylive.com/concepts-strategies/jade-lizard) * [Long Call](https://www.optionsplaybook.com/option-strategies/long-call/) * [Long Call Spread](https://www.optionsplaybook.com/option-strategies/long-call-spread/) * [Long Put](https://www.optionsplaybook.com/option-strategies/long-put/) * [Long Put Spread](https://www.optionsplaybook.com/option-strategies/long-put-spread/) * [Ratio Spread](https://www.tastylive.com/concepts-strategies/ratio-spread) * [Short Call](https://www.optionsplaybook.com/option-strategies/short-call/) * [Short Call Spread](https://www.optionsplaybook.com/option-strategies/short-call-spread/) * [Short Put](https://www.optionsplaybook.com/option-strategies/short-put/) * [Short Straddle](https://www.optionsplaybook.com/option-strategies/short-straddle/) * [Short Strangle](https://www.optionsplaybook.com/option-strategies/short-strangle/) ### [](https://docs.optionomega.com/backtesting/backtest-setup#custom-strategy) Custom Strategy You can create a custom strategy by clicking the Add Leg option. You can add up to 8 legs for backtesting in one test. ### [](https://docs.optionomega.com/backtesting/backtest-setup#strike-selection-type) Strike Selection Type _Please note, you can only choose one selection for all legs in the trade_. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F77H2a2Cm5fqVthYLYi0F%252FStrike%2520Selection%2520Type.png%3Falt%3Dmedia%26token%3D0e60060e-c1eb-4621-9e15-f7a3f54952c8&width=768&dpr=4&quality=100&sign=62b2bfcc&sv=2) #### [](https://docs.optionomega.com/backtesting/backtest-setup#delta) Delta By default, the option legs will be based on delta. However, there is also a % (OTM), a fixed premium, and a strike offset choice. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3fygdHHSyYJlwAdCvidc%252FdeltaLeg.png%3Falt%3Dmedia%26token%3D6e830a01-7187-40df-91ff-b64d690fe6f3&width=768&dpr=4&quality=100&sign=22b02c98&sv=2) _Notice the delta symbol in the “type column” between the QTY and the DTE fields_. #### [](https://docs.optionomega.com/backtesting/backtest-setup#percentage-otm) Percentage (OTM) You can also use Percentage OTM (Out of the Money). The tester will pick the closest strike out of the money. For example, if a user choose a 5% put, and the current SPX is 5000, then the tester will select 4750. If the user chooses a 5% call, the tester will select 5250. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FOoWrov9bwSrnEdIVX5q4%252FotmLeg-1024x70.png%3Falt%3Dmedia%26token%3Dc147fde9-35f0-4885-96f1-068e47153983&width=768&dpr=4&quality=100&sign=d1d795ee&sv=2) _Notice the percentage symbol in the “type column” between the QTY and the DTE fields_. #### [](https://docs.optionomega.com/backtesting/backtest-setup#fixed-premium) Fixed Premium You can also use Fixed Premium. Fixed premium will choose the price closest to the selected premium. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FXJEsRHgAKtI3UBTNT7O3%252FFixed%2520Premium%2520Leg.png%3Falt%3Dmedia%26token%3D9ce8970a-c40f-4f6e-a3a0-2b1ff5205f7b&width=768&dpr=4&quality=100&sign=96b5e8e4&sv=2) _Notice the dollar symbol in the “type column” between the QTY and the DTE fields_. #### [](https://docs.optionomega.com/backtesting/backtest-setup#strike-offset) Strike Offset You can also use Strike Offset– if you select this– it will open up additional choices. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FY3j1o0sSAkRF8j8C7y1A%252FPicture1.png%3Falt%3Dmedia%26token%3D4cded1d9-f78d-4926-bdad-5204b9808acf&width=768&dpr=4&quality=100&sign=e4af64e8&sv=2) You can also select multiple types of leg selection criteria. Clicking on the delta icon in the 15 delta 1 DTE call short below, for instance, brings up a choice of the different strike selection criteria. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fx1A4kNlUZP7FhvKsJcNL%252FPicture2.png%3Falt%3Dmedia%26token%3Df292d2b7-df69-44c9-b78f-c1e45df7d45f&width=768&dpr=4&quality=100&sign=5d12545&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#option-legs) Option Legs What is an option leg? At the end of the day, a leg is made up of type (put or call), direction (buy or sell), and days to expiration (DTE) You can choose the type (put or call) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fy0g0QI1WWcc3YOY4k3p0%252FcallLeg.png%3Falt%3Dmedia%26token%3Dc13f8f0f-f02a-4d51-95e1-3cccd3f8972b&width=768&dpr=4&quality=100&sign=57354a39&sv=2) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F4od9GyueqDxm0vhyhDIB%252FputLeg.png%3Falt%3Dmedia%26token%3Df804fdcf-beb4-4232-9744-73fbb359a74f&width=768&dpr=4&quality=100&sign=56055bc4&sv=2) Also the action (buy or sell) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F5ZdQ2D7y6EWAQZvspvVn%252FbuyLeg.png%3Falt%3Dmedia%26token%3Deafb70b0-25ac-416c-bd02-b2d77fb0857f&width=768&dpr=4&quality=100&sign=8b888eb2&sv=2) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FlRYrIJifPfk7H7mJWnCx%252FsellLeg.png%3Falt%3Dmedia%26token%3D67123c21-ccbd-4e60-acd9-edd7044e7a2d&width=768&dpr=4&quality=100&sign=b1a8f8a8&sv=2) quantity (qty) of each leg ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FNSUsK935KL5NWbZlfBgt%252FqtyLeg.png%3Falt%3Dmedia%26token%3Dea1c426a-8083-4eed-8b38-1dbbbef4b205&width=768&dpr=4&quality=100&sign=c2471a5a&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#leg-quantity) Leg Quantity The leg quantity field should always be 1, unless the trade is a specific ratio trade, like a call butterfly. Users can adjust/set/cap quantities in a variety of ways explained below, but leg quantity is designed to be "One" structure of the trade. ### [](https://docs.optionomega.com/backtesting/backtest-setup#linked-legs) Linked Legs There are some strategies that require different things. For instance, when you are backtesting selling a put spread that is 10-wide, you will need to know what the short leg’s strike is before you can buy a leg 10 points away. Another example would be if you are buying a calendar. You will need to know what the short strike is for the front month before you can purchase the long strike for the back month. To solve this, Option Omega uses the concept of “Linked Legs”. In order to link a leg, we will use this link button here: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FVVcu3lnjNPSqwgIcgRdp%252FlinkButton.png%3Falt%3Dmedia%26token%3D518b6af9-d105-4d90-8b25-65340b82910a&width=768&dpr=4&quality=100&sign=5c235612&sv=2) When you click that button you will see that a new leg drops down underneath. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FIN0pWISBctv2YmaxJKeX%252FPicture4.png%3Falt%3Dmedia%26token%3Dba96991e-334e-460e-8fe3-8bcf94adfa8a&width=768&dpr=4&quality=100&sign=98e6eb2e&sv=2) Notice on the bottom leg that the spot where your selection type goes looks different than the one above. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FhekWZ96pQn1xI7HlzCAc%252FlinkedLegOffset.png%3Falt%3Dmedia%26token%3D359a0598-14df-4df9-958d-f534123a45fa&width=768&dpr=4&quality=100&sign=533cfa15&sv=2) We default this to 0 for you. That means that as it currently stands, the bottom leg will be the same strike price as the top leg. This is useful for time spreads where you have different option legs with different days to expiration. For example, a common long calendar strategy: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FsCJpECPIDNcUtX1SEPvB%252FPicture5.png%3Falt%3Dmedia%26token%3D3d1ae0a7-f935-41ab-aead-9d3d9ed9f871&width=768&dpr=4&quality=100&sign=4cb459f3&sv=2) Let’s say we wanted to sell a 25 delta put spread and we wanted the spread to be 10 points wide. How would we go about setting that up? ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F4k3GNZ2yJ4DWJJ4wRLpI%252FPicture6.png%3Falt%3Dmedia%26token%3Dfccff256-551a-488d-a6dc-671caa0baeb3&width=768&dpr=4&quality=100&sign=43f0364b&sv=2) The top leg shows us selling a 25 delta put and the bottom leg has an offset of -10. It is important to remember that negative values in the offset mean down the option chain. How about if we wanted to sell a 25 delta call spread and we wanted the spread to be 50 points wide? How would we go about setting that up? ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FHOQXzo2gkL73CmiFr52v%252FPicture7.png%3Falt%3Dmedia%26token%3D3d533062-cc8f-4001-8f45-a772b5440914&width=768&dpr=4&quality=100&sign=c1fed18f&sv=2) The top leg shows us selling a 25 delta call and the bottom leg has an offset of +50. It is important to remember that positive values in the offset mean up the option chain. Let’s say you want to use two delta variables to test a strategy instead of using linked legs. Just unlink the legs and select the deltas you want. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FcpxkGWnbs0x53ctmLQ5R%252FPicture8.png%3Falt%3Dmedia%26token%3Dffc88617-1e24-497b-a32b-4fc92e3511e0&width=768&dpr=4&quality=100&sign=927b4f5f&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#child-dependent-legs) Child/dependent Legs Child/dependent legs can be selected using either _fixed premium_ or _delta_ in conjunction with a maximum distance from the parent leg (Child/dependent Leg remains linked to Parent leg). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fj6VsT5lr1KGapoVtA24O%252Fimage.png%3Falt%3Dmedia%26token%3De4e44751-467a-47b8-9184-451a1a0a2662&width=768&dpr=4&quality=100&sign=c55a925b&sv=2) Child/dependent Legs _E.g., Users can backtest selling a $3.50 put, and buy a $0.05 long put that is no more than 75 points away from the short. If a 0.05 put is closer than 75 points (e.g., 50 points out), then that strike will be selected. On the other hand, if there is no $0.05 put 75 points away, then the put closest to $0.05 that is within 75 points will be selected._ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FksRd050VUMVVwvE9PtY4%252FPicture3.png%3Falt%3Dmedia%26token%3Daf08583f-4be9-42a0-a533-7e7ca59d3c1e&width=768&dpr=4&quality=100&sign=cf7fc036&sv=2) Child/dependent Legs (Delta Child Leg) _E.g., Users can backtest selling a 25 delta put, and buy a 10 delta long put that is no more than 15 points away from the short. If a 10 delta put is closer than 15 points (e.g., 10 points out), then that strike will be selected. On the other hand, if there is no 10 delta put 15 points away, then the put closest to 10 delta that is within 15 points will be selected._ [_This video on Child/dependent legs includes an example and more explanation._](https://youtu.be/RYfflri_iIc) ### [](https://docs.optionomega.com/backtesting/backtest-setup#round-strikes) Round Strikes **Strikes can be rounded to the nearest multiple**. – _This should be used to target higher liquidity strikes (e.g., xx00/25/50/75 on SPX, or whole numbers on SPY)_ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FZx6STPW93PQwBUOUMbTh%252FPicture12.png%3Falt%3Dmedia%26token%3De12b7deb-1fc0-4de9-86b6-b6ac2acbfa7e&width=768&dpr=4&quality=100&sign=55aab121&sv=2) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FQvU404cZCNnAK2QjKnjv%252FRound%2520strikes%2520to%2520Nearest%252025.png%3Falt%3Dmedia%26token%3Db80ab996-8ce8-49ba-8328-1bd05da2bcee&width=768&dpr=4&quality=100&sign=4835ce34&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#exact-strike-offset-padlocked-legs) Exact Strike Offset– Padlocked Legs The padlock next to the strike legs is on by default. You can click it to turn it off. In the default mode (on), the trade will only execute if there is an option at the strike. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fkjnxto9RFqngsDmDy6ym%252FPicture9.png%3Falt%3Dmedia%26token%3D1cdb49fb-ee06-4e43-9b28-007ee9a15c60&width=768&dpr=4&quality=100&sign=cb3991a6&sv=2) If the box is turned off (white, unlocked), then the tester will find the nearest strike _directionally_ to preserve the intended side of the position. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FR37lYCqpcb4k10lhA4oW%252FPicture10.png%3Falt%3Dmedia%26token%3Db1f1d285-9cce-41a1-9ab1-cd5fce8be586&width=768&dpr=4&quality=100&sign=3ae0a64e&sv=2) For **Calls:** Legs with offset ≥ 0 are rounded up (to the next available strike ≥ target). Legs with offset < 0 are rounded down (to the next available strike < target). For **Puts:** Legs with offset < 0 are rounded down (to the next available strike < target). Legs with offset ≥ 0 are rounded up (to the next available strike ≥ target). If the [Child/dependent leg](https://docs.optionomega.com/backtesting/backtest-setup#child-dependent-legs) uses $/delta + max width (distance from the parent leg), the backtest will choose the nearest available strike, but the max width will serve as a ceiling - i.e. no strike beyond the indicated maximum distance from the parent leg. Thus, the backtest can choose a strike towards the parent leg. ### [](https://docs.optionomega.com/backtesting/backtest-setup#entry-conditions) Entry Conditions Entry conditions allow you to run a backtest only when certain conditions are met. Entry Time ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FH3iEXFogU13j4t5THdPO%252FentryTime-1024x94.png%3Falt%3Dmedia%26token%3D48c3cea3-dd5c-4a8e-9519-e4693d956d90&width=768&dpr=4&quality=100&sign=c8dda1ed&sv=2) _please note: The available entry times are between 9:32am and 3:59pm EST. This is for “market time” (i.e. New York time in the USA). International users may have to adjust their clocks accordingly. Browser or system settings may impact this._ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Ff8L9fBwMIumkBLiNE3NB%252FentryTimeRequirements-1024x116.png%3Falt%3Dmedia%26token%3D5625527f-34a4-4725-9823-5371bea40e99&width=768&dpr=4&quality=100&sign=242467c1&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#a-note-on-times-resolution-in-option-omega) A note on times/resolution in Option Omega The entry time is based on 1-minute intervals. OO uses 1-minute data as the default for checking things like entries, technical conditions, movement filters, etc. The open is used, not OHLC. ### [](https://docs.optionomega.com/backtesting/backtest-setup#frequency) Frequency ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F6rdbd3eU5zNRXY2HWX53%252FFrequency%2520of%2520Entry.png%3Falt%3Dmedia%26token%3Dc0d42fd6-1c97-4e3e-8428-50c6a0809384&width=768&dpr=4&quality=100&sign=60ec8111&sv=2) How often do you run your backtest is one of the most important questions you will need to think through when setting up your strategy. Before diving into the frequencies available to run your backtests, we need explain a very simple but very important toggle: ### [](https://docs.optionomega.com/backtesting/backtest-setup#days-to-expiry-dte) Days to Expiry (DTE) The backtester users calendar days to expiry. This is similar to brokers like tastytrade, IBKR, TOS, Etrade, etc. Here’s a [video](https://youtu.be/r1UFynR0DYc) on the subject. **Use Exact DTE** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3ZYa9QckxWCiOqwXqdcP%252FuseExactDte.png%3Falt%3Dmedia%26token%3D6729ac65-a27e-4826-a585-15958d439cd8&width=768&dpr=4&quality=100&sign=d071371f&sv=2) This little button says that we want to run our strategy ONLY when there is an option contract that has our EXACT DTE. What does this mean? Let’s look at a calendar strategy as an example. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FoUjJqgDQ0N4V31A89IWW%252FPicture11.png%3Falt%3Dmedia%26token%3D066c391f-f08e-4b4c-95d3-b66c2aad1552&width=768&dpr=4&quality=100&sign=53ab17e2&sv=2) If you have the “Use Exact DTE” button toggled, this test will only run IF there is BOTH a 15 DTE AND a 20 DTE available. Not 14 and 19. Not 16 and 21. ONLY a 15 DTE and a 20 DTE. _Note: SPX is only afternoon contracts– no morning expiries!_ _Additional Note: If exact DTE is unchecked, and there is not an options expiry on the date selected, the backtester will pick the next available expiry date._ **Daily** If you choose daily, Option Omega will run this strategy every day that you: * Have the funds available to run it (more on this later) * Have not exceeded the “max open trades” threshold that you set (more on this later) **Weekly** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FFSdUUfo969plGrX7Y7M3%252FweeklyFrequency-1024x190.png%3Falt%3Dmedia%26token%3D3ba771ed-4ecf-4629-8005-d44920a5df6f&width=768&dpr=4&quality=100&sign=3e1b56a5&sv=2) If you choose weekly, Option Omega will run this strategy every weekday (that you select) where you: * Have the funds available to run it (more on this later) * Have not exceeded the “max open trades” threshold that you set (more on this later) **Monthly** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FpUUt8VToc2ly4ispY4Ii%252FmonthlyFrequency-1024x175.png%3Falt%3Dmedia%26token%3D0e6d9fc2-08c9-408b-875f-5e8dfb4aa983&width=768&dpr=4&quality=100&sign=1284d9fc&sv=2) If you choose weekly, Option Omega will run this strategy every day of the month (that you select) where you: * Have the funds available to run it (more on this later) * Have not exceeded the “max open trades” threshold that you set (more on this later) **Specific Dates** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FxBqj90u5S1lV8wG1araZ%252FSpecific%2520Dates%2520Frequency.png%3Falt%3Dmedia%26token%3D6c692bc7-9565-4ff5-9828-264035a9d766&width=768&dpr=4&quality=100&sign=a92fcf83&sv=2) Specific dates allows you to choose a whitelist of dates that you want to trade. Format is the same as blackout dates (i.e. Please use a list of comma-separated ISO-formatted dates! E.g.: 2022-05-25,2022-04-21). All other conditions (VIX filters, TA, date range, etc.) still apply. Note: Blackout dates are used only for initial entry of dates, not reentering. [This video](https://youtu.be/tq_lG7qlUlc) may be helpful regarding the whitelist/blackout days features. ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-floating-entry-time) Use Floating Entry Time ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FGta2mmlH93msjERagYJF%252FUse%2520Floating%2520Entry.png%3Falt%3Dmedia%26token%3Dd33e8d55-4d16-4c27-8eae-29e6da6532ff&width=768&dpr=4&quality=100&sign=24481570&sv=2) As an alternate to a mechanical, timed trade, you can now choose to **open a trade whenever entry conditions are met, e.g. intraday movement, regardless of the specific time**. Toggle “Use Floating Entry Time” and optionally specify min and max entry times. You must still specify a “range” of times during a day to use floating entry. Note– this only “works” with certain entry triggers, such as underlying point move. ### [](https://docs.optionomega.com/backtesting/backtest-setup#multiple-entry) Multiple Entry Tests can how have multiple entry times. This allows for entering the same trade at various times throughout the day. Up to 20 additional entry times are allowed per test. Notes: margin requirements, max contracts, etc. are applied per tranche. Also, multiple entries cannot be used with floating time entry nor trade reentry. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FAiNe4itXmeBq2dCakEko%252FMultiple%2520Entry.png%3Falt%3Dmedia%26token%3Df900e3fb-ab04-4d33-a4c7-9aa78675ff16&width=768&dpr=4&quality=100&sign=4bb583c5&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#starting-funds) Starting Funds ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Frt1Vi7CcxlIKRjyEBpz9%252FstartingFunds.png%3Falt%3Dmedia%26token%3D830f00d7-6683-4066-b11a-85f99e31d683&width=768&dpr=4&quality=100&sign=9462152c&sv=2) This is the amount of money you want to start the test with. It will obviously change as your p/l changes. ### [](https://docs.optionomega.com/backtesting/backtest-setup#margin-allocation-per-trade) Margin Allocation % Per Trade ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FsFfMy2ChHlle7GrOCPIg%252FmarginAllocation-1.png%3Falt%3Dmedia%26token%3D9f350033-e40b-41d7-ae75-7ff81fcb1cc4&width=768&dpr=4&quality=100&sign=be17941a&sv=2) This is the percentage of your starting funds that you want to use for each test. Let’s think through a couple of examples. Let’s say you want to sell a call credit spread 5 points out. Assuming you are starting with over 1k in funds, you should be able to run through a couple of trades in the test before you were ever in danger of running out of funds. Now, let’s say you wanted to sell a naked call with your starting funds at 1k. Would this run? No it would not. Why? Because naked options require more margin than spreads. Quite often, we get asked why the number of contracts per trade seem to increase or decrease through the life of the trade. The reason is that Option Omega is dynamically running your strategy using the starting funds and the margin allocation % that you put in place. When in doubt, check these fields. _**Please note: While we have made every effort to have accurate and realistic margin modeling, margin requirements vary between brokerages, and not all trades are supported.**_ ### [](https://docs.optionomega.com/backtesting/backtest-setup#max-open-trades) Max Open Trades ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3gIozAnqAARGcibuBFUe%252FmaxOpenTrades.png%3Falt%3Dmedia%26token%3D76dd59af-72d8-4e20-8bad-64d16627ae62&width=768&dpr=4&quality=100&sign=8ae4dbc5&sv=2) This is the amount of trades you want to have on at any one time through the life of the test. Let’s say you are selling a put credit spread 120 days out and you are doing it everyday that you have the capital available to place the trade. If you start with a million dollars and you are allocating 2% of your margin allocation, you theoretically could have hundreds of trades on your book. This option allows you to put in place a limit on how many trades you can have on at any given time. With this you are basically saying that no matter how much money and how high an allocation I am using, never have open more than x-number of trades at any given time. You may notice that little toggle to the right that says, “Prune Oldest Trades”. If you want to have x-number of trades on but you want to continue the strategy, you can toggle this on. What it will do is close the oldest trade on your books before opening a new one. ### [](https://docs.optionomega.com/backtesting/backtest-setup#max-contracts-per-trade) Max Contracts per Trade ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FMktNTxDmVpKW2uHR03fL%252FmaxContractsPerTrade.png%3Falt%3Dmedia%26token%3D0cd382f8-12e7-4a14-bc7b-3437843ae67d&width=768&dpr=4&quality=100&sign=51f2dd0&sv=2) If you would like to bypass all of the allocation work that is done through Option Omega, than you can simply put 1 (or another number) in this field. That way, the backtester will ever only use one contract per trade, no matter how much your allocation % is or what your starting funds are. Another scenario where this comes in handy is if your strategy is hugely successfull over time! Let’s imagine a strategy that won 99.9% of the time while suffering only a 1% drawdown (If you find this please email us immediately!). If you are starting with 10k in funds and allocating 100% to this strategy, you would quickly be putting on thousands of contracts at one time. To be more realistic, you might want to limit the number of contracts to a reasonable representation of what you think you could get filled on. Capping the contracts does have an impact on the performance metrics. It may limit both the number of winners, and losers. Due to sequence of return risk, this can have a significant impact on the viability of a strategy. In other words, it will bias a backtest depending on when wins/losses occur. Many users chose to always leave this blank in order to see the maximum drawdown the backtester experienced during the selected timeframe. ### [](https://docs.optionomega.com/backtesting/backtest-setup#ignore-margin-requirements) Ignore Margin Requirements ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FlE1kWAQmaugAj0AJfOSy%252FIgnore%2520Margin%2520Requirements.png%3Falt%3Dmedia%26token%3Dd9dd7266-dd17-4079-992f-0dd8c5dacaa4&width=768&dpr=4&quality=100&sign=d74b6e8e&sv=2) If Max Contracts Per Trade is enabled, an option to ignore margin requirements is available. This has been requested by community members who wish to completely disregard any margin simulations and just want to test a strategy without BP/margin limits. Use Cases: this will be helpful to those with portfolio margin, or if your brokerage’s requirements differ from the tester and you know precisely how many lots you will be trading each month, or if you want to test short straddles with reusable longs, etc. Margin requirements vary by broker– but this toggle will allow the user to have an even more open sandbox. ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-vix) Use VIX ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FS1maDJrN7XENYg5moJt0%252FuseVix.png%3Falt%3Dmedia%26token%3D3a388794-bac3-4af6-9d38-6596dc64d7e8&width=768&dpr=4&quality=100&sign=17abb604&sv=2) You can set a minimum or maximum VIX level as an entry condition. For instance, you are buying a double calendar but you only want to do it in environments where the VIX is under 20. Another example would be you are selling a put credit spread but you only want to enter if the VIX is over 40. ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-vix-overnight-move) Use VIX overnight move ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FnwNMv877nA6tisXKGb0d%252FUse%2520Vix%2520Overnight%2520Move.png%3Falt%3Dmedia%26token%3D3dde95d7-ed74-4df2-8b07-0826841f173b&width=768&dpr=4&quality=100&sign=64263b0&sv=2) **VIX overnight movement can be used as an entry condition**, similar to gaps. _Note: Overnight movement is defined as the 4:15 PM VIX price on the previous trading day vs VIX price at market open (first VIX print can be at 9:30, though VIX is sometimes delayed to 9:31-9:33.)_ [_Here is a video about the VIX overnight move._](https://youtu.be/gikrzd0Jsj4) _Additional note: if a backtest/automation is scheduled to go on early in the morning, and the VIX has not printed, the backtester/automation will use the last premarket VIX print (typically 9:25) as the opening print to determine when or not to enter the backtest._ ### [](https://docs.optionomega.com/backtesting/backtest-setup#vix-intraday-move) VIX Intraday Move ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FK825538MOmmw0nhxX3gP%252Fimage.png%3Falt%3Dmedia%26token%3D39dda500-bd95-42ca-835c-c81be2f320e5&width=768&dpr=4&quality=100&sign=cddf975a&sv=2) VIX Intraday Move Intraday VIX movement is similar to the underlying movement entry condition. Intraday VIX movement will enter a trade when the current VIX price has moved a specified amount (% or points) from the opening (RTH) VIX price. ### [](https://docs.optionomega.com/backtesting/backtest-setup#vix9d-vix-ratio) VIX9D/VIX Ratio VIX9D / VIX ratio is also available as both entry and exit conditions. This ratio is useful for trading when short-term volatility is especially high or low. Toggle “Use VIX” to enable these filters. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FSJWkwMrUPzCI9LB28uz7%252FVix%2520Vix%25209D%2520Ratio.png%3Falt%3Dmedia%26token%3Dde472d38-954b-4b61-a388-e78be91ad407&width=768&dpr=4&quality=100&sign=22b8216a&sv=2) VIX9D/VIX ratio uses the respective values of VIX9D and VIX at the top of the minute — open value for the minute at 1-minute bar. _Note: if a backtest is scheduled to go on in the morning and the VIX has not printed, the backtester will use the last premarket VIX print (typically 9:25) as the opening print to determine the value of VIX9D/VIX ratio._ _Additional note: VIX9D usually prints by 9:32 – the starting time of backtester/automation platform. If VIX9D/VIX is used as an entry condition, and the VIX9D hasn't printed, then the trade will not enter. If VIX9D/VIX is used as an exit condition, and the VIX9D hasn't printed, then the trade will not exit based on VIX9D/VIX condition, but this will not affect other exit conditions (e.g. Timed Exit, Short-Long ratio, etc.) that could cause an exit._ ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-technical-indicators) Use Technical Indicators ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FqJ5xn20hua6KjBzesqZ9%252FuseTechnicalIndicators.png%3Falt%3Dmedia%26token%3Deeff7120-84c9-4e3f-b826-410b70c5c18b&width=768&dpr=4&quality=100&sign=d6e1c43c&sv=2) _RSI and SMA are calculated at 1 minute intervals._ ### [](https://docs.optionomega.com/backtesting/backtest-setup#rsi) RSI ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9rDimc7n3pdUY30UgfqT%252FminMaxRsi.png%3Falt%3Dmedia%26token%3D971b8137-918e-41c2-b7d1-7c9db7a9c94e&width=768&dpr=4&quality=100&sign=90acfe1d&sv=2) The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. We use the 14-day rolling minute RSI - the current value on the day of the trade (continuously updated during the day), and the closing price of the previous 13 days. ### [](https://docs.optionomega.com/backtesting/backtest-setup#sma) SMA Simple moving averages calculate the average of a range of prices by the number of periods within that range. We use the current value on the day of the trade, and the closing price of the previous days. For example, a 3-day SMA on July 11 at 1:00 p.m. would be the price at 1 p.m. on the 11th of July, plus the daily closing price for the two previous trading days. This is often used for a multi-day strategy, whereas EMA (below) is typically used for an intraday strategy. ### [](https://docs.optionomega.com/backtesting/backtest-setup#a-note-on-viewing-sma-rsi) A note on viewing SMA/RSI: There are a variety of ways to calculate many technical indicators, including SMA and RSI. Option Omega uses 1-minute resolution, daily SMA & RSI, and calculates the value on the current day. Charting/broker/modeling software can be setup in different ways. For a user who wishes to match OO, the chart (in Trading View for example), should be the daily timeframe, even though the value is updated on a minute basis. ### [](https://docs.optionomega.com/backtesting/backtest-setup#ema) EMA Exponential moving averages is a type of moving average that calculates price data with weighting to more current data. It is often used for intraday entries/exits, and is in minutes. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FoKZsOvRUIjiKgdmG6Ol6%252FEMA.png%3Falt%3Dmedia%26token%3Dade5951c-a0c0-4c7d-8f21-9ed09ecff7fa&width=768&dpr=4&quality=100&sign=5fdb8bed&sv=2) Note, for SPX the post-close settlement candles are used to calculate EMA. For SPY, QQQ, etc (non-indice tickers), the pre- and post- market data is used for the EMA calc. Trading View users have had good results matching the the EMA calculation by setting the ticker to display Extended Trading Hours (in TV: select ticker⇒ settings⇒ symbol⇒ session). ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-gaps) Use Gaps _**NB:**_ _Option Omega calculates all SPX-based filters using the official CBOE SPX index data. Refer to FAQ for detailed information (_[_Backtesting FAQ_](https://docs.optionomega.com/backtesting-faq#why-didnt-a-trade-trigger-in-my-trade-log-even-though-my-spx-chart-shows-it-should-have) _)_ _Please note: Use positive numbers for all values._ _Value can be in either points or a percentage, depending on which setting the user has selected._ If you want to trade when the market moves a certain amount up or down, you can enter values into both “min” fields, as shown below, and the condition will trigger when either are true.\* ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FXQs4tJaqDa3DHpp4Jwgp%252FuseGaps.png%3Falt%3Dmedia%26token%3D6a888041-3a6a-4e31-9a4b-5b74b2037ac1&width=768&dpr=4&quality=100&sign=4b2dba44&sv=2) This will enable to you open trades when the market either moves a minimum amount up or down, or conversely under a certain amount, from the previous close to the open of the current day (or a combination of the two). Specificially, it is measuring the overnight gap, from previous trading day close, to official RTH open the following trading day. ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-intraday-movement) Use Intraday movement ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fxg8H2uwcjHUPNj1ZosU6%252FUse%2520Intraday%2520Movement.png%3Falt%3Dmedia%26token%3D0834970a-75c1-4d8d-a8ed-a47c2d82645d&width=768&dpr=4&quality=100&sign=352442c2&sv=2) Only trade when the underlying price moves a certain amount from open of day to entry time. Note: movement can be specified in either percent or points Min Move/Intraday movement uses the default 1-minute OO data resolution, based on candle open. The daily open is used for the calculation. #### [](https://docs.optionomega.com/backtesting/backtest-setup#use-squeezemetrics-tm-gamma-dark-pool-indicators) Use SqueezeMetrics™ (Gamma / Dark Pool) Indicators ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FP2QdBUiXG2SYWFix7UUq%252FuseSqueezeMetrics.png%3Falt%3Dmedia%26token%3Df9ce2088-c5a0-4fa5-b32f-b1e8b6b998e5&width=768&dpr=4&quality=100&sign=a44042a0&sv=2) SqueezeMetrics provides open access to end-of-day DIX, GEX, and GXV values. Please see [SqueezeMetrics](https://squeezemetrics.com/) for more information. **Min DIX/Max DIX** Dark Index (percentage). “Relative amount of trade volume marked ‘short’ in off-exchange (dark) trading.” [DIX Video (YouTube Link)](https://youtu.be/dGsAdXFUzIY) **Min GEX/Max GEX** Market Makers’ Gamma Exposure (billions $) **Min GEX/Max GXV** Gamma Volatility; “1-day volatility historically associated with the given level of GEX” \*Please note: A historical low of GXV would be around a 6. A historical high GXV would be above 30 \* ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-opening-range-breakout) **Use Opening Range Breakout** ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F7nTWsL51z1Mc773CNKbW%252FOpening%2520Range%2520Breakout.png%3Falt%3Dmedia%26token%3D30be9887-6c4e-49c6-892f-486cf5d962b6&width=768&dpr=4&quality=100&sign=fc675819&sv=2) Opening Range Breakout (ORB) is available as an entry condition. It is most commonly used in conjunction with floating time entry to wait until price breaks outside of the defined opening range. A breakout condition can be set to trigger on a **low breakout**, a **high breakout**, or **both**. The ORB range is calculated starting from the **RTH open** (the open of the 9:30 a.m. candle) and ending at the **user-specified time**. > _While OO's options pricing data starts at 9:32 a.m., the underlying price data used to calculate ORB begins at 9:30 a.m. In the event of large market movement on open, that data will be included in calculating the ORB range._ By default, the ORB range is based on **one-minute open price data**. If “**Use High-Low Values to Calculate Opening Range**” is selected (as shown in the image above), the ORB range will instead include the **high and low** (wicks) of the candles. > Even when wicks are used to calculate the ORB range, the **trigger condition** is still based on **one-minute open price data**. After the ORB range has been defined, if the underlying price exceeds the range **intra-minute** but returns within the range before the **next bar opens**, the trade will **not** fire. Another important consideration is the **backtest entry time**. The trade entry time — or the start of the floating time entry window — **should begin after** the ORB range window has closed. If the ORB range is still updating with price, trades will not trigger reliably. [This class covers setting up an ORB backtest](https://academy.optionomega.com/course/orb-breaking-out-of-losing) on Option Omega Academy (free class, requires Academy username/pw). ### [](https://docs.optionomega.com/backtesting/backtest-setup#leg-groups-single-entry-multi-exit-a.k.a.-seme) **Leg Groups (Single Entry Multi Exit a.k.a. SEME)** Legs can be grouped, allowing for separate exit conditions per group. E.g., enter a condor, but exit the call and put sides separately. Or enter as a credit spread, but exit the short upon SL and leave the long as a runner. This should allow for increased accuracy for margin requirements and improved speed of iteration on testing in general. The backtest will enter as a single trade, and then manage per leg group (i.e. each leg group is counted as it's own trade in the log). To use, leg groups, simply make the selection, and click on the leg(s) to group them. Note– the tester will not, currently, check for margin requirement if you happen to exit, e.g., the long leg of a spread before the short leg. Note: this feature acts as single entry -> multi exit; thus, if you choose to use “reenter trades upon exit” for one leg group, the entire trade will be reentered. [This video on Leg Groups may be helpful](https://youtu.be/PRIHozdcJ9c) . ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F5DvqlgNAZOm1vqCXV68V%252FLeg%2520Groups.png%3Falt%3Dmedia%26token%3D4d392b09-d310-4c27-8082-3667458cde56&width=768&dpr=4&quality=100&sign=1bd013e6&sv=2) Leg groups (single entry, multi exit) ### [](https://docs.optionomega.com/backtesting/backtest-setup#exit-conditions) Exit Conditions #### [](https://docs.optionomega.com/backtesting/backtest-setup#profit-target) Profit Target ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F9gPhFro0PDHDNJakRxjf%252FprofitTarget.png%3Falt%3Dmedia%26token%3D1b63b8cc-a8fb-4109-b66e-57edf44a3b33&width=768&dpr=4&quality=100&sign=c2c19a04&sv=2) When testing a strategy, you can set a profit target using three different methods: ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FvTc4nON32j4zzsCr9Vj9%252FprofitTargetTypes.png%3Falt%3Dmedia%26token%3D874f6077-ea0c-4995-b392-4a776aed3cc5&width=768&dpr=4&quality=100&sign=8253da44&sv=2) 1. Percentage 1. Let’s say you have a put credit spread you are selling. You want to close the trade when the spread has lost 10% of its value. 2. Perhaps you have a put debit spread that you bought. You want to close the trade when the spread has gained 10% of its value. 2. Fixed Profit 1. If you buy $1 calls and want to make $5 profit, then enter 5 for the profit target. Note that, as in the rest of the tester, this is similar to the way a broker treats the option (x100). So, in this case a $5 PT would be $500. 3. Closing Order 1. You want to set a closing order at a certain price and get out when that price is filled. #### [](https://docs.optionomega.com/backtesting/backtest-setup#stop-loss) Stop Loss ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FbMUdQj0VCpIwoFbeWIaY%252FstopLoss.png%3Falt%3Dmedia%26token%3D9124105f-e441-4709-9995-24982cc40dc7&width=768&dpr=4&quality=100&sign=9f877071&sv=2) You can also set a stop loss using the same three methods 1. Percentage 1. Let’s say you have a put credit spread you are selling. You want to close the trade when the spread has gained 10% of its value. 2. Perhaps you have a put debit spread that you bought. You want to close the trade when the spread has lost 10% of its value. 2. Fixed Profit 1. If you buy $1 calls and want to lose $4 max, then enter 4 for the stop loss. Note that, as in the rest of the tester, this is similar to the way a broker treats the option (x100). So, in this case a $4 max loss would be $400. 3. Closing Order 1. You want to set a closing order at a certain price and get out when that price is filled. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FvTc4nON32j4zzsCr9Vj9%252FprofitTargetTypes.png%3Falt%3Dmedia%26token%3D874f6077-ea0c-4995-b392-4a776aed3cc5&width=768&dpr=4&quality=100&sign=8253da44&sv=2) Here’s more detail on the profit targets: [Profit Targets (YouTube Link)](https://youtu.be/Ga54HBm85Uo) ### [](https://docs.optionomega.com/backtesting/backtest-setup#per-leg-stop-loss) Per-Leg Stop Loss In order for the per-leg stop loss choice to appear, you first need to enter a value into the stop loss field. Selecting this option will cause the _whole_ spread to be closed based on the stop loss of the _individual_ leg. [For more information on this option, check out this video.](https://youtu.be/9hf38FV7GQU) Note: This is a niche option, and should only be used if you have a specific use case. It is off by default. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FcRM0F4ujP2jDQgTqlaBH%252Fper%2520leg%2520stop%2520loss.png%3Falt%3Dmedia%26token%3Dc92d92f7-51be-42bc-af03-b8800a0e98bd&width=768&dpr=4&quality=100&sign=9227bc6e&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-trailing-stop-loss) Use Trailing Stop Loss If a stop loss is enabled, the backtester will give the option to trail stops. You can trail immediately, or after a minimum profit target is reached. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fru7kSar0nT4FYoHS0SNw%252Ftrailing%2520stop%2520loss.png%3Falt%3Dmedia%26token%3D8124d9b2-494c-4f45-a2d3-28a797b71fda&width=768&dpr=4&quality=100&sign=3c911c88&sv=2) There are two different trailing percentage types. If trailing stops are used with a percentage-based stop, then the trail will be recalculated as a percentage of current premium if ‘recalculated’ is selected. If ‘fixed’ is selected, then the trail is instead based upon a percentage of the initial premium. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FNH0oiKn5M8TAO2BrhyBj%252Ftrailing%2520stop%2520loss%2520types.png%3Falt%3Dmedia%26token%3D8e5b8c55-23e9-4bb7-858a-3071400bd01a&width=768&dpr=4&quality=100&sign=2cc667a6&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-0-dte-intra-minute-stops) Use 0-DTE Intra-Minute Stops For SPX and SPY backtests, there is an additional choice to use Intra-Minute Stops (IMSL) for 0 DTE if a stop loss is enabled. If you have a 0 DTE test, the IMSL can be applied to the entire test. If you have a longer DTE backtest, the IMSL will only be available when ALL legs are 0 DTE. For example, a calendarized trade will not have the option of IMSL. Normally, the backtester uses 1-minute NBBO calculated mids to determine options pricing. IMSL works like this: At every one minute interval, the tester will use the high/low values for each contract to determine whether your stop loss was triggered. High/low values are comprised of both NBBO bid/ask and actual trades within each minute. You can select NBBO by itself, or NBBO + trades (with trades will result in the most stops) for IMSL. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fy4uxMSN1lnotVRoeL7wj%252FIMSL%2520Types.png%3Falt%3Dmedia%26token%3De895fedd-1f6f-43ad-a620-5e90dfe7e8fd&width=768&dpr=4&quality=100&sign=9d84a334&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-profit-actions) Use Profit Actions ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fvx6WI2TWKKG5f7l7ggii%252FProfit%2520Actions.png%3Falt%3Dmedia%26token%3D9bf007fa-d42f-4dfd-a8b3-d4d11b0782b4&width=768&dpr=4&quality=100&sign=1d7f7a7a&sv=2) Profit actions allows you to scale out of a percentage of each trade at certain profit targets, adjust your stop loss, or both! * Any remaining allocation will fall back to the main PT/SL parameters (if specified) and/or remaining exit conditions. * The trade log will show each time a partial profit is taken as well as the quantity closed [This video on profit actions may be useful](https://www.youtube.com/watch?v=gyuCE_kamnE&t=86s) . #### [](https://docs.optionomega.com/backtesting/backtest-setup#use-early-exit) Use Early Exit ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FXh8lhDfx0HMUuZXQJaQG%252FuseEarlyExit.png%3Falt%3Dmedia%26token%3D63427492-d360-439d-98fb-c1eef47804fa&width=768&dpr=4&quality=100&sign=8c225fed&sv=2) This toggle is used for when you want to exit the trade before expiration. Users can select from Days to Expiry, Days in Trade, or Minutes in Trade as the Type. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252Fn8NOSMDLG4QsyH2FIgUP%252FEarly%2520Exit%2520Types.png%3Falt%3Dmedia%26token%3Dbfbebc45-2462-4dc8-b736-c81099ed3c03&width=768&dpr=4&quality=100&sign=22762257&sv=2) **Using DTE (Days to expiry)** Let’s say you have a 45 DTE put spread. You can use this to say you would like to exit at a certain number of days before expiration. Note, on OO, as in other tools (i.e. broker), the DTE is calendar days, not trading days. **Using DIT (Days in Trade)** Let’s say you have a 45 DTE or another long term put spread. Users can can exit once they have been in the trade a certain number of days. **Using MIT (Minutes in Trade)** Exits a trade after a certain number of minutes in the trade. **Early Exit Time** You can also specify the time you would like to get out. _please note: best practice is to have an early exit date . If you don’t have an early exit date, the tester will default to using the 0DTE (closing date) as the date._ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FZ9d2h8FtUtnKsONICim6%252FEarly%2520Exit%2520Times.png%3Falt%3Dmedia%26token%3D3d70a304-c5e5-4de9-8c56-c264eb0e381d&width=768&dpr=4&quality=100&sign=fe716c34&sv=2) #### [](https://docs.optionomega.com/backtesting/backtest-setup#use-techincal-indicators) Use Time Actions Time actions are a way make adjustments to a trade based upon specific times. You can close a percentage of the trade, adjust the PT, or adjust the SL at certain DTE, DIT, MIT or at a given time. If no action type is specified, the tester uses 0 DTE. * _Note: both PT and SL adjustments are based upon the initial premium, not the premium at the time of adjustment, unlike profit actions._ ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FGFi5dQpWepdX0zVER4qb%252FTime%2520Action%2520.png%3Falt%3Dmedia%26token%3D8dd3628e-fccd-4b40-9da2-4e8d5dd04749&width=768&dpr=4&quality=100&sign=ec198dd4&sv=2) #### [](https://docs.optionomega.com/backtesting/backtest-setup#use-techincal-indicators-1) Use Technical Indicators ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F355zbeZWjXkNWZ9ArAW2%252FuseTechnicalIndicators.png%3Falt%3Dmedia%26token%3D663ff488-6be8-4ed6-b8b3-457bd916d46c&width=768&dpr=4&quality=100&sign=29be86d5&sv=2) As is with entry conditions, you can also exit the trade when certain technical indicators are set. Please see “Entry Conditions” for more detail. For example: If you're using Min RSI 60 as an exit, then the trade will exit when the RSI is below 60. If you're using Max RSI 70 as an exit, then the trade will exit when the RSI is above 70. If you're using Below SMA Exit 5, then the trade will exit if the SMA is below 5. #### [](https://docs.optionomega.com/backtesting/backtest-setup#exit-when-otm-short-leg-is-touched-or-approached) Exit When OTM Short Put/Call is touched (or approached) aka “Exit When Tested” You can also exit when the out of the money short is touched on your trade. Let’s say you are selling a put credit spread. You can choose to exit when the short in that spread is touched. You can also specify how many points before or after it is touched that you want to exit. Users can use a negative number to denote an exit past the underlying. Note: This is an exit— it is not a stop loss. Like the default data in Option Omega, it is on a one minute timeframe, meaning that the the level is sampled on the same 1-minute data (i.e. it does not look at OHLC of the minute). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FmdGngFG0ergQ62zlbX62%252FExit%2520When%2520Tested.png%3Falt%3Dmedia%26token%3Df52e5341-e890-45f4-a264-933456413620&width=768&dpr=4&quality=100&sign=2c1376a6&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#exit-when-underlying-price-moves) Exit When Underlying Price Moves ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FSVGHA1W5EVpwLmu6Pju2%252FExit%2520When%2520Underlying%2520Price%2520Moves.png%3Falt%3Dmedia%26token%3D436f5498-c1fd-4e7e-8c21-e2879c5ec605&width=768&dpr=4&quality=100&sign=5bb28390&sv=2) Trades will be closed when the underlying price moves up or down the specified amount- use positive numbers. Both exit when tested and exit when underlying price moves also have **%/point toggles** to allow better testing of multi-year strategies ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FoKUiMMWVqSwvUDQXlcWU%252FExit%2520When%2520Underlying%2520Price%2520Moves%2520toggles.png%3Falt%3Dmedia%26token%3D6abb215b-89a8-45e4-bf59-2109daba2dfd&width=768&dpr=4&quality=100&sign=c13f43ed&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-delta) Use Delta Delta exits are available in position delta and leg delta. Since deltas in OO can use both positive and negative numbers, it is often helpful to visualize using a number scale (i.e. -50 is below -45). #### [](https://docs.optionomega.com/backtesting/backtest-setup#exit-below-above-position-delta) Exit Below/Above Position Delta Trades will be closed when the delta of the entire position is below/above the specified amount; use positive for long delta and negative for short delta. #### [](https://docs.optionomega.com/backtesting/backtest-setup#leg-delta-exit) Leg Delta Exit You can add leg deltas to exit below or above leg deltas. Here is an example. This is a 40 delta, 1 /3 Call Calendar. It is set to exit the sold call below leg delta of -75. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FjL9Ux41B2MJlCKbJYBs0%252Fimage.png%3Falt%3Dmedia%26token%3Dfbf09e9c-79e5-41e6-a5b0-c0c6c3f7ddfd&width=768&dpr=4&quality=100&sign=4b5cb937&sv=2) We can see in the example, as the market pumped up, above the strike, the backtest exited when the short call (originally 40 delta), was below that leg's delta of -75. A simple way to think about is this: as the calendar in the example pumped (into the money), the SHORT leg that the delta exit is based on would have gotten shorter and shorter delta. So, once it got past (short) the-75 delta, the exit was triggered. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FEjhLD7MEjJlUsgIF5eYM%252Fimage.png%3Falt%3Dmedia%26token%3Dbea53ec0-8e47-4c1a-9621-d6a28984de49&width=768&dpr=4&quality=100&sign=d02acb9&sv=2) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FRxaNOJW8ktiPMZ7IHoCe%252Fimage.png%3Falt%3Dmedia%26token%3Df37fb76e-8e8f-4ed5-a8c2-330e9926d27d&width=768&dpr=4&quality=100&sign=21dd4972&sv=2) [Here is a the saved backtest link](https://optionomega.com/share/8sVIHRgfkn7oXLA3aIcl) if you would like to view the full backtest. If you would like to watch a video dealing with deltas, [check it out here](https://www.youtube.com/live/9UM2WlUT7go?si=fz1wY6EjPrYqO5cs) . ### [](https://docs.optionomega.com/backtesting/backtest-setup#vix-and-vix9d-exit-conditions) VIX and VIX9D Exit Conditions VIX and VIX9D exit conditions are available, supporting either a percentage or point-based exit. You can also exit when the ratio of VIX9D to VIX hits a certain number. Note, these measurements are based upon the change _from_ the time the trade opened in the backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FovCWEeVF0tsU0m25ifu6%252FVIX-and-VIX9D-Exits-1024x269.png%3Falt%3Dmedia%26token%3D5a38edc4-970e-4a7e-bd4e-383d1c4efc41&width=768&dpr=4&quality=100&sign=b7f0fd1c&sv=2) [](https://docs.optionomega.com/backtesting/backtest-setup#misc-options-a.k.a.-the-punisher) Misc Options (A.K.A. "The Punisher") -------------------------------------------------------------------------------------------------------------------------------------- This section has been affectionately called “The Punisher”– and contains a variety toggles meant to make your tests more robust. [This video](https://youtu.be/zFv_VlEpkrc) may be helpful, as many of the features are covered in it. ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-commissions-and-fees) Use **Commissions & Fees** If you know ahead of your time what your per-contract fees and commissions are, you can put them here and we will account for those costs in your test. Here’s a [real quick](https://optionomegadocs.com/wp-content/uploads/2023/02/Real-Quick-Fees.mp4) on fees, and you can also [watch the video linked just above and here (the deep dive)](https://youtu.be/zFv_VlEpkrc) . ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FvL1nLXcg4Oooqt70ACti%252FuseCommissions.png%3Falt%3Dmedia%26token%3D128bc5dd-97da-412e-97d3-72514e9a2d9c&width=768&dpr=4&quality=100&sign=84f7dcea&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#slippage) Slippage Slippage can be optionally added to entry, exit or both. This price affects the chosen parameter by the amount listed. This can be especially useful on nearly all backtests, and certainty on high/low delta and lower liquidity strikes. Note: _Slippage is per position. Thus, if you have an Iron Condor, a .10 slippage would be per all 4 legs_ More details on slippage can be found here: [Slippage Video (YouTube Link)](https://youtu.be/_w4N61o2ul0) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F5OFgvfwvcAZepQlcQBx0%252FUse%2520Slippage.png%3Falt%3Dmedia%26token%3Dce7466b1-2321-4dd7-9c24-cf3898a7a69d&width=768&dpr=4&quality=100&sign=6f94ad70&sv=2) Entry Slippage If you enable a stop loss, the option for Stop Loss Slippage will appear, allowing you to customize this for stopped exits. Note, you can have both exit and stop loss slippage. The exits will use exit slippage, and stop loss slippage will only be used for stop losses. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FhLVnVOm17J5K455MT5vq%252FStop%2520Loss%2520Slippage.png%3Falt%3Dmedia%26token%3D77674c43-066b-4589-b7b1-665b11ae7107&width=768&dpr=4&quality=100&sign=d9e9448d&sv=2) _**Note: Slippage for fixed premium trades was updated in early 2025. Previously, the strikes considered slippage when selecting premium. As of this change though, the fixed premium slippage now works like other slippages. I.E. If you're selling a $3 fixed premium leg, and have $.05 of entry slippage, the strike will be the same and the slippage will be applied so you would receive $2.95 for the leg.**_ _**An additional note about FP entry slippage: if there is entry slippage on a leg groups, it will be applied to each leg. For example, if there is a backtest with 3 leg groups and $.15 entry slippage, $.15 will be applied to each leg. If you want $.15 total, in this example you'd use $.05 entry slippage ($.05 x 3= $.15)**_ [_**Here's a video that on Fixed Premium Entry Slippage**_](https://youtu.be/BT5oDKmKfn0?si=YHjLsY7sqMeW2e3W) _**.**_ ### [](https://docs.optionomega.com/backtesting/backtest-setup#ignore-wide-bid-ask-spread) Ignore Wide Bid-Ask Spread There are times when the market gets wonky (Covid Crash, Volmageddan, Vixzilla, etc). If you toggle this, we will ignore trades where the bid/ask widened over 10k basis points (100%). This is also useful for deep ITM/OTM strikes. Wide-Bid ask is calculated using a standard formula, where If bid-ask spread on any leg is greater than 10,000 bps, we flag the trade as “wide bid-ask” ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FignoreTrades.png&width=768&dpr=4&quality=100&sign=e5add15d&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#close-open-trades-on-test-completion) Close Open Trades on Test Completion Let’s say you sell a 90 DTE put spread every day. This test runs from January 1st to January 31st. Presuming you had enough capital, at the end of January 31st, you might have over 30 trades still on. Toggling this tells Option Omega to close those trades win, lose, or draw when the test date ends. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FcloseOnTestCompletion.png&width=768&dpr=4&quality=100&sign=66f9f11&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#cap-non-opening-profits-at-profit-target) Cap Non-Opening Profits at Profit Target We cannot pretend overnight gaps won’t affect your trade (nor should we). But what we can do is assume that the profit you received (besides an overnight gap) was as good as you got. Here’s a [real quick](https://optionomegadocs.com/wp-content/uploads/2023/02/Real-Quick-Cap-Profits.mp4) on it. In essence, this option functions as a "limit order'" in the backtest. I.E. if your profit target is $7 and at one minute the profit is actually at $7.75, selecting this will cap the profits at $7. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FcapAtProfitTarget.png&width=768&dpr=4&quality=100&sign=de4e5034&sv=2) _**Cap Non-Opening Losses at Stop Loss**_ Cap losses ignores the value of the stop loss at the minute/IMSL interval, and artificially "caps" the loss at the user-defined limit. Note: Markets do not cap losses. This choice (like all choices in the backtester), should only be used with a clear understanding of what it does. Backtesters who use this typically use in conjunction with IMSL and healthy stop loss slippage. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FcapAtStopLoss.png&width=768&dpr=4&quality=100&sign=515741f8&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#require-two-consecutive-hits-at-profit-target) Require Two Consecutive Hits at Profit Target One of the chief ways you can strengthen the rigidity of your tests is to make sure you are getting accurate fills. When this toggle is on we will only exit trades when the max profit is hit for two consecutive time intervals. The trade still exits at the first time interval and price, however. In general, this will make your backtest less forgiving (more robust). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FrequireTwoHitsAtProfitTarget.png&width=768&dpr=4&quality=100&sign=72ca479f&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#require-two-consecutive-hits-at-stop-loss) Require Two Consecutive Hits at Stop Loss When this toggle is on we will only exit trades when the stop loss is hit for two consecutive time intervals. The trade still exits at the first time interval and price, however. This is designed to account for a brief moment of illiquidity, typically on a longer dated trade. In the backtest simulation, this will make the backtests more forgiving, and less rigorous. More detail here: [Require Two Hits (YouTube Link)](https://youtu.be/Sv5MRxcJ-To) . In general, this may make your backtest more forgiving, and like all choices, should only be used with a good understanding of the use cases. Typically, it's used on more complex trades that are longer dated (i.e. 30-60-90 day). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FrequireTwoHitsAtStopLoss.png&width=768&dpr=4&quality=100&sign=63474b77&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-min-max-entry-premium) Use **Min/Max Entry Premium** Filter trades that open for premium between these values. Use positive numbers for both values, regardless of whether the strategy is a credit or a debit. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FuseMinMaxEntryPremium.png&width=768&dpr=4&quality=100&sign=7c7526ea&sv=2) _Note: the backtest applies this filter to the premium of the position after the entry slippage (if any is indicated)._ ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-short-long-ratio) Use **Short/Long Ratio** Filter trades that open short/long ratio between these values. The ratio is the total short premium divided by the total long premium. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FRHygXqZ55uDZ59dLdhJ3%252FUse%2520Short%2520Long%2520Ratio.png%3Falt%3Dmedia%26token%3Da491641c-26de-4832-975a-028c9b5c6936&width=768&dpr=4&quality=100&sign=992e38a&sv=2) ### [](https://docs.optionomega.com/backtesting/backtest-setup#use-blackout-days) Use **Blackout Days** Sometimes the strategy you want to create requires uniform pricing upon entry. This toggle allows you to limit new trades to ONLY the credit(debit) you want to receive(pay). ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2Footroy.github.io%2FOptionOmegaDocs%2Fimages%2FuseBlackoutDays.png&width=768&dpr=4&quality=100&sign=d1a2a1c3&sv=2) Maybe you have been trading awhile and know that there are certain dates in history that you know you would not have traded. This allows you to enter a list of dates that will be ignored when the tester attempts to enter new trades. _Please use a list of comma-separated ISO-formatted dates! E.g.: 2022-05-25,2022-04-21_ Here’s a [real quick](https://optionomegadocs.com/wp-content/uploads/2023/02/Real-Quick-Whitelist-Blackout-Dates.mp4) video on specific dates. For a real life example, fall of 2023 saw several auction issues between OPRA and CBOE. The option chains had major issues for short times. Some people choose to blackout these days. Here’s a [video](https://youtu.be/owUtzFkXw_o) about it. Remember, if you want to whitelist days, that option is available in Specific Days as an entry condition. ### [](https://docs.optionomega.com/backtesting/backtest-setup#re-enter-trades-after-exit) Re-**Enter Trades After Exit** This feature will allow you to automatically re-enter a trade after specified exit conditions are triggered (stop loss, short tested, etc). You can optionally add a delay before re-entry, as well as a minimum and maximum time of day (most useful for 0 DTE). \* _Note: the re-entered trade will use the same entry criteria (deltas, widths, DTEs, entry conditions) as the original trade._ Note: Blackout dates are used only for initial entry of dates, not reentering– i.e. if a multi-day trade is opened, and re-entry is selected (which would be a niche case), the re-entry condition with over-ride the blackout. [Here’s a video on trade re-entry.](https://youtu.be/ssSFaIYd81Y) ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FWZOwMjK8jH2qXhJuXtH1%252FReetnry.png%3Falt%3Dmedia%26token%3D6b92a4dd-941f-4a26-8739-e345f68973de&width=768&dpr=4&quality=100&sign=77d9b817&sv=2) [](https://docs.optionomega.com/backtesting/backtest-setup#save-and-share-a-backtest) Save and share a backtest -------------------------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FKNbMxL9YhcWdddm9943D%252FSave%2520and%2520share%2520a%2520backtest.png%3Falt%3Dmedia%26token%3D310f7b4f-d9bc-41da-881b-634c8df53940&width=768&dpr=4&quality=100&sign=d3406213&sv=2) If you select the down arrow next to the New Backtest button, you will have the ability to save (and share) a backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F3fmFUurGb8BWpeToADkD%252FReplace%2520existing%2520backtest.png%3Falt%3Dmedia%26token%3Dfb4025c2-a3d5-47e4-abab-ac3ac29c51a5&width=768&dpr=4&quality=100&sign=d7b7a9ed&sv=2) Shared tests are read-only for others, but will allow others to re-run or save their own copies of said tests. Shared tests are “live”, so when you update the original test, others will see the changes. You can create a new backtest, or replace an existing backtest. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252F1xdIyLNsAIPdwq7zsdGM%252Fshare%2520test%2520with%2520others.png%3Falt%3Dmedia%26token%3D30a849c3-b739-4157-a666-3d19e4de0e22&width=768&dpr=4&quality=100&sign=48a4691c&sv=2) Share tests by toggling the option in the “save/edit” backtest slider \* The “link” icon will copy the shared URL to your clipboard [Here’s a video on saving & sharing a backtest.](https://youtu.be/8_S7hc5oET8) [](https://docs.optionomega.com/backtesting/backtest-setup#recent-test-runs) Recent Test Runs -------------------------------------------------------------------------------------------------- ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FokZSgUBZlWifhdpWfe65%252FView%2520Recent%2520Test%2520Runs.png%3Falt%3Dmedia%26token%3D7936f7ca-ca81-4233-8c51-5c7d538e9e32&width=768&dpr=4&quality=100&sign=50ea9831&sv=2) If you select the clock next to the share backtest button, you will see the recent test run cards- Useful for those who iterate rapidly! After running a test, you should see a clock icon in the test header that will open a slider with a list of recent test runs. Selecting a test from the slider will load all details from that test, including the trade log. The 20 most-recent test runs per session are stored. ![](https://docs.optionomega.com/~gitbook/image?url=https%3A%2F%2F3473746390-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FRCx0eCiBCDnwmdd7LImD%252Fuploads%252FPfZC7FBJa5PEIVK3ONlE%252FRecent%2520test%2520runs.png%3Falt%3Dmedia%26token%3Db6008f49-96e9-4b13-b3dc-474b9b28ed39&width=768&dpr=4&quality=100&sign=f2428059&sv=2) [PreviousTrial FAQ](https://docs.optionomega.com/welcome/free-trial/trial-faq) [NextBacktest Results](https://docs.optionomega.com/backtesting/backtest-results) Last updated 22 days ago * [Your First Backtest](https://docs.optionomega.com/backtesting/backtest-setup#your-first-backtest) * [Tickers](https://docs.optionomega.com/backtesting/backtest-setup#tickers) * [Dates](https://docs.optionomega.com/backtesting/backtest-setup#dates) * [Building Your Strategy](https://docs.optionomega.com/backtesting/backtest-setup#building-your-strategy) * [Custom Strategy](https://docs.optionomega.com/backtesting/backtest-setup#custom-strategy) * [Strike Selection Type](https://docs.optionomega.com/backtesting/backtest-setup#strike-selection-type) * [Option Legs](https://docs.optionomega.com/backtesting/backtest-setup#option-legs) * [Leg Quantity](https://docs.optionomega.com/backtesting/backtest-setup#leg-quantity) * [Linked Legs](https://docs.optionomega.com/backtesting/backtest-setup#linked-legs) * [Child/dependent Legs](https://docs.optionomega.com/backtesting/backtest-setup#child-dependent-legs) * [Round Strikes](https://docs.optionomega.com/backtesting/backtest-setup#round-strikes) * [Exact Strike Offset– Padlocked Legs](https://docs.optionomega.com/backtesting/backtest-setup#exact-strike-offset-padlocked-legs) * [Entry Conditions](https://docs.optionomega.com/backtesting/backtest-setup#entry-conditions) * [A note on times/resolution in Option Omega](https://docs.optionomega.com/backtesting/backtest-setup#a-note-on-times-resolution-in-option-omega) * [Frequency](https://docs.optionomega.com/backtesting/backtest-setup#frequency) * [Days to Expiry (DTE)](https://docs.optionomega.com/backtesting/backtest-setup#days-to-expiry-dte) * [Use Floating Entry Time](https://docs.optionomega.com/backtesting/backtest-setup#use-floating-entry-time) * [Multiple Entry](https://docs.optionomega.com/backtesting/backtest-setup#multiple-entry) * [Starting Funds](https://docs.optionomega.com/backtesting/backtest-setup#starting-funds) * [Margin Allocation % Per Trade](https://docs.optionomega.com/backtesting/backtest-setup#margin-allocation-per-trade) * [Max Open Trades](https://docs.optionomega.com/backtesting/backtest-setup#max-open-trades) * [Max Contracts per Trade](https://docs.optionomega.com/backtesting/backtest-setup#max-contracts-per-trade) * [Ignore Margin Requirements](https://docs.optionomega.com/backtesting/backtest-setup#ignore-margin-requirements) * [Use VIX](https://docs.optionomega.com/backtesting/backtest-setup#use-vix) * [Use VIX overnight move](https://docs.optionomega.com/backtesting/backtest-setup#use-vix-overnight-move) * [VIX Intraday Move](https://docs.optionomega.com/backtesting/backtest-setup#vix-intraday-move) * [VIX9D/VIX Ratio](https://docs.optionomega.com/backtesting/backtest-setup#vix9d-vix-ratio) * [Use Technical Indicators](https://docs.optionomega.com/backtesting/backtest-setup#use-technical-indicators) * [RSI](https://docs.optionomega.com/backtesting/backtest-setup#rsi) * [SMA](https://docs.optionomega.com/backtesting/backtest-setup#sma) * [A note on viewing SMA/RSI:](https://docs.optionomega.com/backtesting/backtest-setup#a-note-on-viewing-sma-rsi) * [EMA](https://docs.optionomega.com/backtesting/backtest-setup#ema) * [Use Gaps](https://docs.optionomega.com/backtesting/backtest-setup#use-gaps) * [Use Intraday movement](https://docs.optionomega.com/backtesting/backtest-setup#use-intraday-movement) * [Use Opening Range Breakout](https://docs.optionomega.com/backtesting/backtest-setup#use-opening-range-breakout) * [Leg Groups (Single Entry Multi Exit a.k.a. SEME)](https://docs.optionomega.com/backtesting/backtest-setup#leg-groups-single-entry-multi-exit-a.k.a.-seme) * [Exit Conditions](https://docs.optionomega.com/backtesting/backtest-setup#exit-conditions) * [Per-Leg Stop Loss](https://docs.optionomega.com/backtesting/backtest-setup#per-leg-stop-loss) * [Use Trailing Stop Loss](https://docs.optionomega.com/backtesting/backtest-setup#use-trailing-stop-loss) * [Use 0-DTE Intra-Minute Stops](https://docs.optionomega.com/backtesting/backtest-setup#use-0-dte-intra-minute-stops) * [Use Profit Actions](https://docs.optionomega.com/backtesting/backtest-setup#use-profit-actions) * [Exit When Underlying Price Moves](https://docs.optionomega.com/backtesting/backtest-setup#exit-when-underlying-price-moves) * [Use Delta](https://docs.optionomega.com/backtesting/backtest-setup#use-delta) * [VIX and VIX9D Exit Conditions](https://docs.optionomega.com/backtesting/backtest-setup#vix-and-vix9d-exit-conditions) * [Misc Options (A.K.A. "The Punisher")](https://docs.optionomega.com/backtesting/backtest-setup#misc-options-a.k.a.-the-punisher) * [Use Commissions & Fees](https://docs.optionomega.com/backtesting/backtest-setup#use-commissions-and-fees) * [Slippage](https://docs.optionomega.com/backtesting/backtest-setup#slippage) * [Ignore Wide Bid-Ask Spread](https://docs.optionomega.com/backtesting/backtest-setup#ignore-wide-bid-ask-spread) * [Close Open Trades on Test Completion](https://docs.optionomega.com/backtesting/backtest-setup#close-open-trades-on-test-completion) * [Cap Non-Opening Profits at Profit Target](https://docs.optionomega.com/backtesting/backtest-setup#cap-non-opening-profits-at-profit-target) * [Require Two Consecutive Hits at Profit Target](https://docs.optionomega.com/backtesting/backtest-setup#require-two-consecutive-hits-at-profit-target) * [Require Two Consecutive Hits at Stop Loss](https://docs.optionomega.com/backtesting/backtest-setup#require-two-consecutive-hits-at-stop-loss) * [Use Min/Max Entry Premium](https://docs.optionomega.com/backtesting/backtest-setup#use-min-max-entry-premium) * [Use Short/Long Ratio](https://docs.optionomega.com/backtesting/backtest-setup#use-short-long-ratio) * [Use Blackout Days](https://docs.optionomega.com/backtesting/backtest-setup#use-blackout-days) * [Re-Enter Trades After Exit](https://docs.optionomega.com/backtesting/backtest-setup#re-enter-trades-after-exit) * [Save and share a backtest](https://docs.optionomega.com/backtesting/backtest-setup#save-and-share-a-backtest) * [Recent Test Runs](https://docs.optionomega.com/backtesting/backtest-setup#recent-test-runs) --- # Email Protection | Cloudflare Please enable cookies. 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