Bot Settings: Position Legs
The Position Legs section defines the actual option contracts your bot trades: which side, which strike, which expiration, and in what ratio, for up to four legs.
How many legs appear here is controlled by the Trade Template and Number of Legs settings covered in Bot Settings: Trading Strategy. Leg #1 is always visible; Legs #2 through #4 appear as your leg count allows. Each leg carries its own targeting settings, while a small group of global settings at the top of the section can standardize values across every leg at once.
Global Position Settings
Size Ratio: All Legs 1x
Size Ratio sets the ratio of contracts for each leg in ratio spreads, and must be a whole number. With the All Legs 1x toggle enabled, every leg uses a size ratio of 1 and the individual leg Size Ratio fields are hidden. That is the right setting for normal, evenly sized trades. To build a ratio spread, disable the toggle and the per-leg Size Ratio fields reappear for individual configuration.
Days to Expiration (global)
The global Days to Expiration control applies one DTE configuration to every leg. When its Enabled toggle is on, the per-leg DTE fields are hidden and all legs use the values set here:
- Exact: only the exact DTE entered in the Target field is allowed.
- Target: the bot uses the closest available expiration to the Target, within the Min and Max range. The Min and Max fields are only active when Target mode is selected.
If no expiration matches the parameters, the entry attempt is aborted. To give different legs different expirations, for example in calendar structures, turn the global toggle off and set DTE on each leg individually.
Resolve Conflicts Max Strike Adjustment Points
This control only appears when at least one leg has Resolve Conflicts enabled, and it governs how far the bot may shift a strike to avoid a long/short conflict. A conflict means the bot wants to open a position at a strike where your account already holds the opposite side, for example opening a short contract you currently hold long.
When that happens, the bot first finds the leg's normal target strike, then checks each strike moving Towards Underlying Mark, up to the number of points you set. If every strike in that direction also conflicts, or the towards value is zero, it then checks strikes moving Away From Underlying Mark, up to that limit. If no conflict-free strike exists within both limits, the bot stops attempting the entry.
As an example from the form's own help text: with a target strike of 4200 and the underlying at 4225, the bot would first check 4205 and continue toward the underlying, then fall back to 4195 and continue away from it.
Per-Leg Settings (Leg #1 through Leg #4)
Every visible leg repeats the same group of controls. Settings that only make sense for certain targeting modes stay hidden until that mode is selected.
Option Type
Put or Call. This is the contract type for the leg.
Long or Short
Long buys the leg to open; Short sells it to open. Combined with Option Type across your legs, this is what shapes the structure, whether that is a lone short put, a vertical spread, or a four-leg condor.
Resolve Conflicts
When enabled, the bot may automatically adjust this leg's strike if your account is currently holding the opposite long/short of the strike that otherwise meets the target parameters. The adjustment distance is capped by the global Resolve Conflicts Max Strike Adjustment Points setting described above.
Strike Target and Target Type
The Strike Target control pairs a Target Type dropdown with a numeric Target value, and it decides how the bot picks this leg's strike on every entry:
| Target Type | How the strike is chosen |
|---|---|
| Delta * | Closest delta to the target. Enter a positive number between 0 and 100. Optional Min Delta and Max Delta constraints apply. |
| Premium | Mid price closest to the target value. Enter $0.05 as 0.05. Supports the optional Up to Max Width field on hedge legs. |
| Premium as Underlying % * | Premium closest to the set percent of the underlying's current market price. Does not support Max Width. |
| Min Premium | First available strike with a mid price at or above the target premium. |
| Percent ITM / Percent OTM * | Strike closest to the set percent difference from the underlying. Use 0 for the strike closest to the underlying. Enter 5% as 5, always positive. |
| Points ITM / Points OTM * | Strike closest to the set number of points in or out of the money from the underlying. Always positive; 0 targets the underlying's value. |
| Points ITM / OTM from Open * | Same as Points ITM/OTM, but measured from the underlying's opening price for the day. |
| Percent ITM / OTM from Open * | Same as Percent ITM/OTM, but measured from the underlying's opening price for the day. |
| Vertical Width | Fixed spread width: the offset between the primary leg and this hedge or wing leg. Positive numbers place the hedge further out of the money, negative numbers further in the money. Must be used on legs after the primary leg. Picks the closest available strike. |
| Vertical Width-Exact | Same as Vertical Width, but requires the exact strike. If it is not available, no strike is selected and the trade does not open on that attempt. Efficient Spreads does not apply to these legs. |
| Vertical Width-Underlying % * | Same as Vertical Width, with the width calculated as a percent of the underlying's current market value. |
| Exact | The strike closest to the exact value you set. |
Up to Max Width
Shown on Legs #2 through #4 only, and only when that leg's Target Type is Premium. It caps how wide a spread may get while hunting for the target premium: if the premium is not available at any strike from the main strike out to the Max Width, the width stops there. The field is optional, and leaving it blank ignores it.
Min Delta and Max Delta
Shown only when the leg's Target Type is Delta. Each sets an acceptable delta bound, between 0 and 100, for a strike to be selected. Both are optional: use either one or both, and leave blank to ignore. If the closest-delta strike falls outside your bounds, the leg will not accept it.
Size Ratio (per leg)
Hidden while the global All Legs 1x toggle is on. Sets this leg's contract ratio for ratio spread entries, in whole numbers. Use 1 for normal trades; a 2 here with 1 on another leg produces a 2:1 ratio structure, scaled by your position size from Trade Entry.
Days to Expiration (per leg)
Hidden while the global Days to Expiration toggle is enabled. Works exactly like the global control, but for this leg alone: Exact allows only the specific DTE in the Target field, while Target picks the closest available expiration to the Target within the Min and Max bounds (the Min and Max fields appear only in Target mode). If no expiration fits, the bot aborts the entry attempt.
Choosing targets in practice
This page is the field-by-field reference. For a practical walkthrough of picking strike targets, with examples of delta versus premium targeting and how the from-Open variants behave, see Strike Targeting: Delta, Premium, and More. For the rest of the form, start at The Edit Bot Form: Every Section at a Glance.