Excel is a powerful platform that can be used to send multiple signals at the same time. This can be extremely useful in options trading where multiple orders are needed to be placed.
Here is the tutorial on how to send orders in Options in Excel.
1. API Bridge Settings
Choose your Option from the exchange symbol drop-down menu.
It is recommended that you add an option chain with multiple strike prices, for convenient options trading. To do this, click here.
Here we have selected two options of different strike prices.
If you select an Option and Strike and Type column does not come. Go to Application Settings > Symbol Settings > Tick Strike and Type.
Now your APIBridge is set up for trading in Options.
2. Setting up Excel
Make sure APIBridge Plugin for excel is installed. If not, click here to plugin Excel.
For demonstration, we have taken the Sample Excel sheet provided in the Excel Plugin Folder.
Step 1 – Start Excel. (Make sure you select Run as Administrator)
Step 2- Write Symbols. Here we have mentioned the two options which we set up in APIBridge. If you have an option chain in APIBridge you need to mention all of them here.
We have mentioned:
Price
Qty
Instrument type as – OPTIDX
Expiry – 08July2021
Strike
Option Type
Now when the signal is sent according to the formula. Orders will be placed in options in the broker terminal.
Here is the log, when we send orders from this sample sheet.
This is a basic tutorial to place orders in Options.
For live trading, you need to set up an excel strategy with live data. For setting up an excel strategy with live data, click here.
After set up you can add Options as Symbols as demonstrated in this tutorial.
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