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algo-options

algo-options

github.com/marketcallsOther944 installsUpdated 26w ago
Repository

About algo-options

algo-options is a skill for generating OpenAlgo options execution strategies from short-straddle or iron-condor templates. It guides parameter collection and customization, while excluding backtesting and requiring expiry dates to be updated manually.

Key features

  1. 01Short-straddle and iron-condor templates
  2. 02Configure underlying and expiry date
  3. 03Set lots, schedule, and risk parameters
  4. 04Per-leg stop loss for short straddles
  5. 05Explicitly disables options backtesting

Use cases

  1. 01Create a scheduled NIFTY short straddle
  2. 02Configure BANKNIFTY iron-condor wings
  3. 03Prepare an options strategy for OpenAlgo upload

Install

Copy the command and run it in a terminal.

$npx skills add https://github.com/marketcalls/openalgo-execution-skills --skill algo-options

After installing, type/algo-optionsin Claude Code to confirm it loaded.

Details

From the project README

Create an options execution strategy.

Arguments

Parse $ARGUMENTS as: template underlying expiry-date

  • $0 = template (short-straddle, iron-condor)
  • $1 = underlying (e.g. NIFTY, BANKNIFTY). Default: NIFTY
  • $2 = expiry date in DDMMMYY format (e.g. 30DEC25). REQUIRED - no auto-roll. Ask if not given.

If no arguments, ask the user which template.

Instructions

  1. Read algo-expert/rules/options-execution.md, unified-strategy-pattern.md, and self-hosted-strategies.md.
  2. Confirm with the user that backtest mode is disabled for options strategies (the file will exit with a clear message if --mode backtest is passed). They use OpenAlgo's UI analyzer toggle for sandbox testing instead.
  3. Ask the user:
    • Lots: how many lots (default 1)
    • OTM offsets (iron-condor only): OTM_NEAR for short body (default 4), OTM_FAR for long wings (default 8)
    • Entry time (IST, e.g. 09:20)
    • Exit time (IST, e.g. 15:15)
    • SL multiplier (short_straddle, e.g. 1.30 for 30% premium SL)
  4. Read the matching template at algo-expert/rules/assets/<template>/strategy.py.
  5. Create strategies/<template>_<underlying>/ and copy + customize.
  6. Set:
    • UNDERLYING, UNDERLYING_EXCH, EXPIRY_DATE
    • LOTS, LOT_SIZE (NIFTY=65, BANKNIFTY=30, FINNIFTY=60 per Apr 2026 SEBI - see lot-sizes.md)
    • ENTRY_TIME, EXIT_TIME as dtime(H, M)
    • SL_MULTIPLIER for short straddle
    • OTM_NEAR, OTM_FAR for iron condor
  7. Tell the user:
    • To upload to /python: requires apscheduler and pytz packages installed (covered by setup)
    • Always re-confirm EXPIRY_DATE before each cycle - the file does NOT auto-roll
    • Set MODE=live in upload form parameters; OpenAlgo UI's analyzer toggle decides sandbox vs real
    • Strategy holds NRML overnight if not flat at EXIT_TIME - cancelallorder + closeposition is called automatically

Templates

TemplateDescription
short-straddleSell ATM CE + ATM PE at scheduled time, per-leg broker SL at SL_MULTIPLIER * premium, flat at EXIT_TIME
iron-condorOTM_NEAR short CE/PE + OTM_FAR long CE/PE wings, monitor and flat at EXIT_TIME

Backtest mode is off

The generated file checks for --mode backtest and exits:

Options backtesting is not supported in this skill pack.
Options pricing depends on volatility surfaces, time decay, and OI dynamics
that intraday OHLCV backtests don't capture well.
Use --mode live (with OpenAlgo's UI analyzer toggle for sandbox).

If the user wants to dry-run, they should:

  1. Flip OpenAlgo's analyzer toggle ON (in /analyzer UI)
  2. Run with --mode live - orders go to the sandbox, not the broker

Avoid

  • Do not use icons/emojis
  • Do not auto-roll expiry date (EXPIRY_DATE = "30DEC25" is hardcoded; user must update weekly)
  • Do not implement options backtesting - explicitly out of scope
  • Do not skip the SL placement - per-leg SL is critical for short premium strategies

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