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Roger Option Bot

Automated options trading that runs the wheel strategy through your connected broker.

Roger is Tiblio's automated trading bot. It runs the wheel strategy — selling cash-secured puts and covered calls — through your connected broker. During market hours, Roger automatically discovers new setups, places orders, and closes positions when they hit your profit target.

How You Get a Bot

Roger bots are created automatically when you connect a broker account. There's no manual "create bot" step — connect your broker in Settings, and your bot appears on the Option Bot page ready to configure.

The Wheel Strategy

Roger runs one strategy: the wheel. Here's the cycle:

  1. Sell puts on stocks you want to own, collecting premium while you wait
  2. If assigned, you now own shares at your strike price minus the premium collected
  3. Sell calls against those shares, collecting more premium
  4. If called away, you've sold at your strike price plus the premium — and the cycle restarts

Roger handles this automatically. You tell it which stocks to trade, how aggressive to be (via delta and DTE targets), and it finds and executes the trades.

What the Bot Does Automatically

Roger runs on two schedules during market hours (9:30 AM – 4:00 PM ET). Outside market hours, both cycles are paused.

Trade Discovery — Every 10 Minutes

  1. Checks that the market is open
  2. For each stock in your equities list, searches for option contracts matching your target DTE and delta
  3. Applies safety checks: skips trades over earnings or dividends (unless you've enabled those)
  4. Respects your order sizing limits (per-order, per-day, and per-week caps)
  5. Places limit orders through your broker's API

Take-Profit Check — Every 5 Minutes

  1. Checks P&L on all open short option positions
  2. If a position's profit has reached your target (default: 90% of max profit), places a buy-to-close order
  3. If an option is in-the-money and expiring today, closes it for any profit to avoid assignment (when assignment avoidance is enabled)

Running the Bot Manually

You don't have to wait for the automatic cycle. The Dashboard tab has two buttons:

  • Run Bot — Triggers a trade discovery pass immediately
  • Take Profit — Triggers a take-profit check immediately

Both are only available when the market is open. When you click either one, a live execution screen appears showing step-by-step progress and streaming log output — so you can see exactly what Roger is doing and why. This is especially useful when you're first setting up, or when you want to force a check outside the regular 10-minute cycle.

The Dashboard

The Dashboard tab is your main view into what Roger is doing:

  • Market status — Shows whether the market is currently open or closed, updates automatically
  • Account metrics — Net liquidation value, margin allocation percentage, and target profit
  • Live/Paper mode — Clear indicator of whether orders are real or simulated
  • Positions table — Per-symbol breakdown showing current shares, open put contracts, open call contracts, and how many puts/calls Roger plans to write next

Configuring Your Bot

All configuration lives in the Configuration tab, organized into sections:

General

  • Bot Name — Label your bot for easy identification
  • Live Mode — Toggle between paper trading (simulated) and live trading (real orders). Paper mode shows a disclaimer on the dashboard.
  • Cancel Open Orders — When enabled, cancels any unfilled orders before placing new ones each cycle

Capital Management

  • Margin Usage — What percentage of your account's buying power Roger should use (default: 50%)

Strategy Settings

  • Put DTE — Target days to expiration for put contracts (default: 35)
  • Call DTE — Target days to expiration for call contracts (default: 35)
  • Put Delta — Target delta for puts (default: 0.40). Higher delta = more premium but higher assignment risk
  • Call Delta — Target delta for calls (default: 0.40). Higher delta = more premium but more likely to be called away
  • Target Profit — Close positions when this percentage of max profit is reached (default: 90%)

Order Sizing

These control how fast Roger scales into positions, as a percentage of your target allocation:

  • Per Order — Max size of a single order (default: 10%)
  • Per Day — Max total new exposure per day (default: 20%)
  • Per Week — Max total new exposure per week (default: 50%)

These limits prevent Roger from putting on your entire position in one burst — it scales in gradually.

Advanced Options

  • Buy/Sell Order Offset — Controls where limit orders sit relative to the bid-ask spread. 0 = bid side, 0.5 = midpoint, 1 = ask side (default: 0.5 for both)
  • Avoid Assignment — Close in-the-money options on expiration day for any profit, rather than risk assignment
  • Protect Cost Basis — Don't sell calls below your adjusted cost basis per share (avoids locking in a loss)
  • Sell Calls Over Earnings — Whether to sell calls when the stock has earnings coming up (default: off)
  • Sell Puts Over Earnings — Whether to sell puts when the stock has earnings coming up (default: off)
  • Sell Calls Over Dividends — Whether to sell calls over an ex-dividend date (default: on)
  • Sell Puts Over Dividends — Whether to sell puts over an ex-dividend date (default: on)

Managing Equities

The Equities tab is where you tell Roger which stocks to trade. For each symbol, you configure:

  • Weight — What percentage of your allocated capital goes to this stock. Weights across all equities should add up to 100%
  • Write Puts / Write Calls — Enable or disable each leg independently per symbol
  • Adjusted Cost Basis — Automatically computed from your broker's position data. Used for cost basis protection on calls

Per-Symbol Overrides

Each equity can override the bot's default strategy settings:

  • Put DTE / Call DTE — Use a different expiration target for this specific stock
  • Put Delta / Call Delta — Use a different delta target for this stock
  • Put Strike Limit — Skip puts with strikes at or above this price
  • Call Strike Limit — Skip calls with strikes at or below this price

Overrides are optional — if not set, the bot's global defaults apply.

Monitoring

Orders Tab

Shows the last 100 orders Roger has placed, with:

  • Timestamp, underlying symbol, and full OCC option symbol
  • Contract type (put/call), side (buy/sell), quantity requested and filled
  • Order status (filled, pending, canceled, expired)
  • Limit price

History Tab

Every automated and manual bot run is logged here:

  • Run type — Whether it was a trade discovery or take-profit check
  • Status — Completed, running, pending, or failed
  • Duration — How long the run took
  • Expandable logs — Click any run to see the full execution log with timestamps and color-coded entries (warnings in yellow, errors in red)

This is your audit trail for everything Roger does.

Bot Status

  • Active — Bot runs both trade discovery and take-profit on schedule
  • Paused — Skips trade discovery (no new trades), but take-profit checks continue running to manage existing positions
  • Delete — Removes the bot entirely. A confirmation dialog warns you about any open positions

Paper Trading

If you want to test Roger without risking real money, connect a TradeStation Sim account. This gives you a paper trading environment with the same automation features — same schedules, same configuration, same execution flow. The dashboard shows a clear "Paper Mode" indicator so you always know you're in simulation.

Start here, watch the bot for a few sessions, then switch to live mode when you're confident in your settings.

Supported Brokers

Roger works with the following brokers:

  • Schwab
  • Tradier
  • TradeStation (live)
  • TradeStation Sim (paper trading)
  • tastytrade
  • Alpaca

Risk Considerations

  • Roger places real orders with real money when live mode is enabled — always double-check before activating
  • Start with paper trading (TradeStation Sim) to validate your strategy
  • Use conservative settings initially: lower delta, smaller order sizing, fewer equities
  • Monitor your bot regularly, especially during the first few sessions
  • Use Pause to stop new trades while keeping existing position management active
  • The earnings and dividend toggles are off by default for a reason — selling options over binary events carries extra risk

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