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Nyria

Guide

How does a trading bot pick which option contract to buy?

Nyria picks each contract from the leg rules you set on the strategy, or takes the strike and expiration from the alert text. With leg rules you set 1 to 4 legs, and each one finds its strike by delta, target price, strikes from the at-the-money strike or strikes from another leg. If no contract fits, Nyria skips the entry and orders nothing. TradingView strategies must use leg rules.

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Official documentation

Set how the bot picks a contract

  1. 1

    Choose the contract source

    On the strategy pick From my rules or Provided in alert. TradingView strategies use From my rules. Discord, Telegram and your own bot can use either.

  2. 2

    Add 1 to 4 legs

    Each leg is Buy or Sell, Call or Put, with a minimum and maximum days to expiry.

  3. 3

    Pick how each leg finds a strike

    Use a target delta, a target price, a number of strikes from the at-the-money strike, or an offset from another leg.

  4. 4

    Check it on paper

    Send an alert to a Nyria Paper bot and read the contract it picked in the Logs tab.

  5. 5

    Fix a skipped entry

    If nothing was ordered, widen the days to expiry or the delta, then send the alert again.

The four ways to find a strike

  • Delta: a target such as 0.30. Nyria picks the listed contract closest to it that has a live quote.
  • Target price: the contract price as the chain quotes it. Enter $2.00, not the $200 the contract costs.
  • Strikes from at-the-money: a number of strikes above or below the at-the-money strike.
  • Strikes from another leg: an offset from a reference leg, such as 5 strikes up from Leg 1.

When the entry is skipped

  • If the closest contract is more than 0.25 delta away, Nyria skips the entry and orders nothing.
  • The same happens if no contract in range has a delta.
  • The Logs tab on the strategy gives the reason.

Example legs

  • Bull call spread: Buy a call at 0.30 delta, 7 to 31 DTE. Sell a call 5 strikes up from Leg 1.
  • Single call: Buy a call at 0.40 delta, 14 to 31 DTE. The most you can lose is the premium paid.
  • Iron condor: four legs, each priced from a $2.00 premium or offset from another leg.

Provided in alert

  • The alert names the strike and the expiration, for example from a Discord or Telegram message.
  • On a Provided in alert strategy, a Discord or Telegram entry with no date, such as SPY 780C, uses the nearest listed expiration. That can be today's expiration, even late in the day.
  • Alerts from any other source must name the expiration.

Questions

Can a TradingView alert name the strike?
No. TradingView strategies use From my rules. Nyria picks the contract from the leg rules.
How many legs can a strategy have?
1 to 4.
What if no contract matches the delta?
If the closest is more than 0.25 away, or no contract in range has a delta, Nyria skips the entry and orders nothing.
Does an alert with no date use today's expiration?
On a Provided in alert strategy, a Discord or Telegram entry with no date uses the nearest listed expiration. That can be today.
What does it cost?
Paper is free. Live trading from $15 a month.
All questions

Next

Guides

Automate TradingView options alerts

The alert says open or close and long or short. Your rules pick the contract. Paper first.

Read guide

What happens to an option that expires today in an automated bot?

Nyria checks open options 30 minutes before the close and logs each one.

Read guide

Why is my trading bot not placing orders?

Open the bot's Logs tab. Seven states explain a bot that places nothing.

Read guide

What happens when only some legs of an option spread fill?

Filled legs are tracked and exit on the next exit alert. Check your broker.

Read guide

How many shares or contracts will my trading bot buy?

Whole shares or contracts that fit the budget per entry. Under one, nothing.

Read guide

Try a paper bot first

No card required. Paper is free. Live trading from $15 a month.

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