Intrinsic value

When trading options, the Intrinsic value controls whether or not TradersPost will select a contract that is in the money or out of the money. The Intrinsic value can be set to one of the following values:

• In The Money (ITM): Selects a contract that is in the money. A call is in the money when the strike price is less than the current price of the underlying asset. A put is in the money when the strike price is greater than the current price of the underlying asset.
• Out Of The Money (OTM): Selects a contract that is out of the money. A call is out of the money when the strike price is greater than the current price of the underlying asset. A put is out of the money when the strike price is less than the current price of the underlying asset.

When Allow signal override next to the option contract settings (or the global Allow signal overrides) is enabled, you can override this strategy setting by sending a value in the intrinsicValue field in the webhook payload. The field accepts one of the following values: itm or otm.

{
    "ticker": "AAPL",
    "action": "buy",
    "expiration": "+6 months",
    "intrinsicValue": "itm",
    "optionType": "call",
    "strikesAway": 2
}

The above example will select the expiration date that is 6 months from the current date and then select the call option that is in the money and 2 strikes away from the at the money.