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Hey. Just trying to work on a simple covered call strategy. Buy QQQ, then sell a covered call on it with same day expiration (DTE0). If I get called out, buy QQQ again the next day and repeat. If I don't get called out then it will hold QQQ and sell another covered call the next morning.
For the most part it seems to work but the calls are selling at near the underlying price most of the time. They should only sell for like $0.35 but are selling for like $265 for a same day expiration call. Any suggestions?
First order fills correctly:
Time: 01/03/2023 14:32:00 OrderID: 2 EventID: 2 Symbol: QQQ 230103C00271000 Status: Filled Quantity: -2 FillQuantity: -2 FillPrice: 0.35 USD OrderFee: 1 USD IsAssignment: False
But all other orders are way off:
Time: 01/04/2023 14:31:00 OrderID: 4 EventID: 2 Symbol: QQQ 230104C00268000 Status: Filled Quantity: -2 FillQuantity: -2 FillPrice: 265.97 USD OrderFee: 1 USD IsAssignment: False
Louis Szeto
Hi David
At this line:
you're using QQQ's price to set initial price for all securities (including option contracts). Instead, you should use
to set them with its own last price, or even don't set it at all (use the stale price to fill).
Best
Louis
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David Eldringhoff
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
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