OPEN-SOURCE SCRIPT
Zaktualizowano TimeWarp Batman
SPX Batman 1DTE — Strike Signal & Alert Tool
This indicator identifies end-of-day entry conditions for the SPX Batman spread, a two-legged options structure consisting of a long call butterfly placed out of the money above spot and a long put butterfly placed out of the money below spot. Neither fly shares legs. Both are sized and positioned independently.
What the Batman spread is
The Batman is a defined-risk, direction-neutral options trade designed to profit from a pin near expiry. It is not a straddle or strangle. Each leg is a long butterfly. The long call fly is entered OTM above spot at the close, targeting next-day expiry or Monday for Friday entries. The long put fly is entered OTM below spot on the same terms. The structure earns maximum profit if the underlying pins near either body at expiry. Max loss on each fly is limited to the debit paid.
How this indicator works
At 3:55 PM ET each session the indicator calculates proposed strike levels for both flies based on three inputs. Wing width is derived from VIX in dynamic mode or set manually, widening at elevated volatility. Body offset starts at 65 points plus the wing width from spot, rounded to the nearest 5-point SPX strike. Target debit range is calculated from your reward-to-risk inputs. A 1:15 to 1:20 target corresponds to a debit of approximately 4.8% to 6.25% of wing width per fly.
A label fires on the chart at signal time showing all six strike levels, the target debit range in points, and the expiry type. Strike lines remain visible through the next session. If the underlying trades through an outer wing a background highlight fires and a separate alert is available.
How to use it
Add the indicator to a 1-minute or 5-minute SPX chart. At the signal, open your broker's options chain for the next-day expiry. Locate the proposed call fly and put fly strikes. Walk the body strikes up or down in 5-point increments until the actual debit falls within the displayed target range. Enter both flies and manage through expiry.
Set alerts on Batman 1DTE Entry and Batman 3DTE Entry to be notified at signal time without watching the chart.
Inputs
Important
This is a signal and visualization tool. It does not model options P&L, implied volatility, or time decay. TradingView cannot accurately backtest multi-leg options structures and this indicator makes no attempt to do so. All fills, debit verification, and risk management occur in your broker. Past signal frequency is not indicative of future profitability.
This indicator identifies end-of-day entry conditions for the SPX Batman spread, a two-legged options structure consisting of a long call butterfly placed out of the money above spot and a long put butterfly placed out of the money below spot. Neither fly shares legs. Both are sized and positioned independently.
What the Batman spread is
The Batman is a defined-risk, direction-neutral options trade designed to profit from a pin near expiry. It is not a straddle or strangle. Each leg is a long butterfly. The long call fly is entered OTM above spot at the close, targeting next-day expiry or Monday for Friday entries. The long put fly is entered OTM below spot on the same terms. The structure earns maximum profit if the underlying pins near either body at expiry. Max loss on each fly is limited to the debit paid.
How this indicator works
At 3:55 PM ET each session the indicator calculates proposed strike levels for both flies based on three inputs. Wing width is derived from VIX in dynamic mode or set manually, widening at elevated volatility. Body offset starts at 65 points plus the wing width from spot, rounded to the nearest 5-point SPX strike. Target debit range is calculated from your reward-to-risk inputs. A 1:15 to 1:20 target corresponds to a debit of approximately 4.8% to 6.25% of wing width per fly.
A label fires on the chart at signal time showing all six strike levels, the target debit range in points, and the expiry type. Strike lines remain visible through the next session. If the underlying trades through an outer wing a background highlight fires and a separate alert is available.
How to use it
Add the indicator to a 1-minute or 5-minute SPX chart. At the signal, open your broker's options chain for the next-day expiry. Locate the proposed call fly and put fly strikes. Walk the body strikes up or down in 5-point increments until the actual debit falls within the displayed target range. Enter both flies and manage through expiry.
Set alerts on Batman 1DTE Entry and Batman 3DTE Entry to be notified at signal time without watching the chart.
Inputs
- VIX Symbol sets the data source for volatility-based width calculation.
- Wing Width Mode switches between dynamic
- VIX-scaled sizing and fixed widths of 20, 25, or 30 points.
- Fixed Width sets the manual width when not using dynamic mode.
- Min Reward to Risk and Max Reward to Risk define the acceptable debit range for each fly, defaulting to 1:15 and 1:20.
Important
This is a signal and visualization tool. It does not model options P&L, implied volatility, or time decay. TradingView cannot accurately backtest multi-leg options structures and this indicator makes no attempt to do so. All fills, debit verification, and risk management occur in your broker. Past signal frequency is not indicative of future profitability.
Informacje o Wersji
SPX Batman 1DTE — Strike Signal & Alert ToolThis indicator identifies end-of-day entry conditions for the SPX Batman spread, a two-legged options structure consisting of a long call butterfly placed out of the money above spot and a long put butterfly placed out of the money below spot. Neither fly shares legs. Both are sized and positioned independently.
What the Batman spread is
The Batman is a defined-risk, direction-neutral options trade designed to profit from a pin near expiry. It is not a straddle or strangle. Each leg is a long butterfly. The long call fly is entered OTM above spot at the close, targeting next-day expiry or Monday for Friday entries. The long put fly is entered OTM below spot on the same terms. The structure earns maximum profit if the underlying pins near either body at expiry. Max loss on each fly is limited to the debit paid.
How this indicator works
At 3:55 PM ET each session the indicator calculates proposed strike levels for both flies based on three inputs. Wing width is derived from VIX in dynamic mode or set manually, widening at elevated volatility. Body offset starts at 65 points plus the wing width from spot, rounded to the nearest 5-point SPX strike. Target debit range is calculated from your reward-to-risk inputs. A 1:15 to 1:20 target corresponds to a debit of approximately 4.8% to 6.25% of wing width per fly.
A label fires on the chart at signal time showing all six strike levels, the target debit range in points, and the expiry type. Strike lines remain visible through the next session. If the underlying trades through an outer wing a background highlight fires and a separate alert is available.
How to use it
Add the indicator to a 1-minute or 5-minute SPX chart. At the signal, open your broker's options chain for the next-day expiry. Locate the proposed call fly and put fly strikes. Walk the body strikes up or down in 5-point increments until the actual debit falls within the displayed target range. Enter both flies and manage through expiry.
Set alerts on Batman 1DTE Entry and Batman 3DTE Entry to be notified at signal time without watching the chart.
Inputs
- VIX Symbol sets the data source for volatility-based width calculation.
- Wing Width Mode switches between dynamic
- VIX-scaled sizing and fixed widths of 20, 25, or 30 points.
- Fixed Width sets the manual width when not using dynamic mode.
- Min Reward to Risk and Max Reward to Risk define the acceptable debit range for each fly, defaulting to 1:15 and 1:20.
- Select minutes prior to close to invoke script
Important
This is a signal and visualization tool. It does not model options P&L, implied volatility, or time decay. TradingView cannot accurately backtest multi-leg options structures and this indicator makes no attempt to do so. All fills, debit verification, and risk management occur in your broker. Past signal frequency is not indicative of future profitability.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
I provide expert guidance to options traders using Volume Profile and Volatility analysis
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
I provide expert guidance to options traders using Volume Profile and Volatility analysis
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.