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.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",
"instrinsicValue": "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.