Select rows, then build orders. Default = close at bid (longs) / ask (shorts). You can change type, price, and quantity before sending.
| Symbol | Side | Strike | Expiry | Qty | Avg | Bid | Ask | Mark | Open P&L |
|---|
Each row is a separate order. Edit type, price, and qty per row β or use Set all to change every pending row at once.
| Symbol | Action | Qty | Type | Limit | Stop | Trail $ | TIF | Est. $ | Preview | Status |
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Barbara Newton β Options Trading Plan
| Condition | Action |
|---|---|
| QQQ / SPY trending above 21 EMA (daily) | Full size, normal cadence |
| QQQ / SPY between 21 and 50 EMA | Half size, tighten stops |
| QQQ / SPY below 50 EMA | No new longs. Defensive only. |
| VIX > 25 | Reduce size 50%. Widen stops or stay out. |
| FOMC week / CPI day | No new entries day-of. Let dust settle. |
| Earnings within 3 days | No new entries on that name unless it's an earnings play. |
Setup: Stock closes above a 20-period range high on volume β₯ 1.5Γ 20-day average. Underlying above 50-day SMA.
Entry: Buy ATM or 1-strike OTM call, 3β6 weeks to expiry. Enter within 1β2 candles of breakout confirmation. Use the Position Sizing Calculator β 1% risk budget default.
Stop: Close below the breakout level (underlying price). ATR-based: entry β 1.5Γ ATR(14).
Exit β tiered:
Timeframes: Daily primary signal. 30-min / 5-min for entry timing.
Setup: Stock in confirmed uptrend (above 50 SMA), pulling back to 21 EMA on declining volume. Look for a reversal candle at or near the EMA.
Entry: Buy call on first green day after EMA touch. 4β8 weeks to expiry. Delta 0.50β0.65.
Stop: Close below 21 EMA (underlying).
Exit β tiered: Same tier structure as Play 1.
Setup: Strong earnings beat + guidance raise. Gap up on high volume. Buy the gap continuation, not the gap itself.
Entry: Wait 1β2 days post-earnings for consolidation. Enter on the first breakout above the high of the gap day.
Stop: Below gap-day low.
Exit: 30β50% gain target OR 3β5 days max hold.
Setup: Name making new highs while QQQ/SPY is flat or pulling back.
Entry: Buy on any tight flag or pullback. 6β8 weeks to expiry.
Stop: Below the most recent swing low.
Exit: Hold longer than breakout plays β use trailing ATR stop once +50%.
Primary strategy. Defined risk, sized for zero at 2β3% of account. Works on SPY, QQQ, SPX and high-liquidity single names.
Setup: Underlying gaps up (or down), immediately fades toward or through the opening print in the first 15β30 min. Sellers (or buyers) exhaust themselves, then price reclaims the open on a 5-min close. Sellers had their shot β they failed.
Why it works: Failed breakdowns/breakouts signal exhaustion of the fading side. Reclaim of the open brings in confirmation buyers and flushes shorts. The stop is clean and defined (back through the open).
Entry: First 5-min candle to close back above the opening print (long) or below (short). Do not enter at the open itself β wait for the fade and the reclaim. ATM strike. 0β5 DTE.
Sizing: Size for zero. 2β3% of account = full loss if expired worthless. No stop order needed β premium paid is the stop.
Exit β tiered:
Pass if: GEX is strongly positive (moves dampen β sell the spread instead). VRP is very high premium (IV rich β selling is better edge). No clear reclaim within 45 min of open.
Setup: After 2:00 PM ET. Price is grinding in a tight range, near or at the max pain strike. Pin risk score > 65. GEX positive (dealers dampening moves). Underlying NOT in a trending move by midday β if it ran hard earlier, the pinning force is diminished.
Why it works: As 0DTE expiration approaches, dealer gamma hedging creates gravitational pull toward max pain. Positive GEX compounds this β dealers sell rallies and buy dips mechanically. Premium on options near the pin strike collapses rapidly in the final 90 minutes.
Entry window: 2:00β2:30 PM ET only. Earlier = too much time for a move to hurt you. Later = not enough premium to collect.
Structure options:
Confirmation before entry (check Agent tab):
Stop: Iron condor β close the tested short spread if underlying closes through the short strike on a 5-min bar. Butterfly β close if debit doubles (2Γ loss).
Exit: Let expire worthless. Or close at 80% of max profit if reached before 3:30 PM ET. No reason to hold through the last 30 min of 0DTE noise.
Pass if: Pin risk < 65. Underlying trended hard intraday (pin force exhausted). News catalyst still active. VRP is elevated (IV not compressing β sellers haven't relaxed).
| Signal | Buy directional (Play 5) | Sell premium (Play 6) |
|---|---|---|
| GEX regime | Negative (moves amplify) | Positive (moves dampen) |
| VRP | Low/moderate (IV fair) | Very high premium (IV rich) |
| Pin risk | Low (< 40) | High (> 65) |
| Time of day | Morning (9:30β11:30 AM ET) | Afternoon (2:00β2:30 PM ET) |
| Max pain distance | > 0.5% away (room to run) | < 0.5% (already at pin) |
| Price action | Directional reclaim / breakout | Grinding, rejecting extensions |
| Input | Default | Notes |
|---|---|---|
| Risk Budget % | 1.0% | Max 2% on high-conviction setups |
| Stop Loss % | 50% | Options often die before underlying stops out β size for 50% option loss |
| Contracts | Calculator output | Round down, never up |
| Max open positions | 6β8 | Concentration keeps focus sharp |
| Same-sector limit | 2 names | Avoid correlated blowups |
Select watchlists to scan. Leave all unchecked to use full S&P 500.
Vol filter is skipped pre-market (OI only). Run from Scanner β Sector Gappers tab.