How do I install the Algo Options skill?

Run npx skillmds@latest add marketcalls/algo-options in your terminal (requires Node.js), paste this page's agent-chat prompt into Claude, Cursor, or any MCP-connected agent, or download the SKILL.md file and copy it into your agent's skills directory.

Is Algo Options safe to use?

This skill has not completed SkillMD's automated safety review yet. SkillMD never runs a skill's scripts for you; review the SKILL.md before installing.

Which AI agents work with Algo Options?

This skill is tagged as working with Claude Code, Claude.ai, OpenAI Codex. SKILL.md is an open format, so most agents that read a skills directory can load it too.

Is Algo Options free to use?

Yes. Installing skills from SkillMD is free, and the skill stays under its author's original license.

Who published Algo Options?

marketcalls (@marketcalls) published this skill. Their other Agent Skills are listed on their SkillMD profile.

Algo Options by marketcalls — Agent Skill

Name: Algo Options
Author: marketcalls

File contents

Create an options execution strategy.

Arguments

Parse $ARGUMENTS as: template underlying expiry-date

$0 = template (short-straddle, iron-condor)
$1 = underlying (e.g. NIFTY, BANKNIFTY). Default: NIFTY
$2 = expiry date in DDMMMYY format (e.g. 30DEC25). REQUIRED - no auto-roll. Ask if not given.

If no arguments, ask the user which template.

Instructions

Read algo-expert/rules/options-execution.md, unified-strategy-pattern.md, and self-hosted-strategies.md.
Confirm with the user that backtest mode is disabled for options strategies (the file will exit with a clear message if --mode backtest is passed). They use OpenAlgo's UI analyzer toggle for sandbox testing instead.
Ask the user:
- Lots: how many lots (default 1)
- OTM offsets (iron-condor only): OTM_NEAR for short body (default 4), OTM_FAR for long wings (default 8)
- Entry time (IST, e.g. 09:20)
- Exit time (IST, e.g. 15:15)
- SL multiplier (short_straddle, e.g. 1.30 for 30% premium SL)
Read the matching template at algo-expert/rules/assets/<template>/strategy.py.
Create strategies/<template>_<underlying>/ and copy + customize.
Set:
- UNDERLYING, UNDERLYING_EXCH, EXPIRY_DATE
- LOTS, LOT_SIZE (NIFTY=65, BANKNIFTY=30, FINNIFTY=60 per Apr 2026 SEBI - see lot-sizes.md)
- ENTRY_TIME, EXIT_TIME as dtime(H, M)
- SL_MULTIPLIER for short straddle
- OTM_NEAR, OTM_FAR for iron condor
Tell the user:
- To upload to /python: requires apscheduler and pytz packages installed (covered by setup)
- Always re-confirm EXPIRY_DATE before each cycle - the file does NOT auto-roll
- Set MODE=live in upload form parameters; OpenAlgo UI's analyzer toggle decides sandbox vs real
- Strategy holds NRML overnight if not flat at EXIT_TIME - cancelallorder + closeposition is called automatically

Templates

Template	Description
`short-straddle`	Sell ATM CE + ATM PE at scheduled time, per-leg broker SL at SL_MULTIPLIER * premium, flat at EXIT_TIME
`iron-condor`	OTM_NEAR short CE/PE + OTM_FAR long CE/PE wings, monitor and flat at EXIT_TIME

Backtest mode is off

The generated file checks for --mode backtest and exits:

Options backtesting is not supported in this skill pack.
Options pricing depends on volatility surfaces, time decay, and OI dynamics
that intraday OHLCV backtests don't capture well.
Use --mode live (with OpenAlgo's UI analyzer toggle for sandbox).

If the user wants to dry-run, they should:

Flip OpenAlgo's analyzer toggle ON (in /analyzer UI)
Run with --mode live - orders go to the sandbox, not the broker

Avoid

Do not use icons/emojis
Do not auto-roll expiry date (EXPIRY_DATE = "30DEC25" is hardcoded; user must update weekly)
Do not implement options backtesting - explicitly out of scope
Do not skip the SL placement - per-leg SL is critical for short premium strategies

---name: algo-optionsdescription: Generate options-only execution strategies (short straddle, iron condor). Backtest mode is intentionally disabled. Live mode uses optionsmultiorder + per-leg SL.---Create an options execution strategy.## ArgumentsParse `$ARGUMENTS` as: template underlying expiry-date- `$0` = template (`short-straddle`, `iron-condor`)- `$1` = underlying (e.g. NIFTY, BANKNIFTY). Default: NIFTY- `$2` = expiry date in DDMMMYY format (e.g. `30DEC25`). REQUIRED - no auto-roll. Ask if not given.If no arguments, ask the user which template.## Instructions1. Read `algo-expert/rules/options-execution.md`, `unified-strategy-pattern.md`, and `self-hosted-strategies.md`.2. Confirm with the user that **backtest mode is disabled** for options strategies (the file will exit with a clear message if `--mode backtest` is passed). They use OpenAlgo's UI analyzer toggle for sandbox testing instead.3. Ask the user: - **Lots**: how many lots (default 1) - **OTM offsets** (iron-condor only): OTM_NEAR for short body (default 4), OTM_FAR for long wings (default 8) - **Entry time** (IST, e.g. `09:20`) - **Exit time** (IST, e.g. `15:15`) - **SL multiplier** (short_straddle, e.g. `1.30` for 30% premium SL)4. Read the matching template at `algo-expert/rules/assets/<template>/strategy.py`.5. Create `strategies/<template>_<underlying>/` and copy + customize.6. Set: - `UNDERLYING`, `UNDERLYING_EXCH`, `EXPIRY_DATE` - `LOTS`, `LOT_SIZE` (NIFTY=65, BANKNIFTY=30, FINNIFTY=60 per Apr 2026 SEBI - see `lot-sizes.md`) - `ENTRY_TIME`, `EXIT_TIME` as `dtime(H, M)` - `SL_MULTIPLIER` for short straddle - `OTM_NEAR`, `OTM_FAR` for iron condor7. Tell the user: - To upload to `/python`: requires `apscheduler` and `pytz` packages installed (covered by setup) - Always re-confirm `EXPIRY_DATE` before each cycle - the file does NOT auto-roll - Set `MODE=live` in upload form parameters; OpenAlgo UI's analyzer toggle decides sandbox vs real - Strategy holds NRML overnight if not flat at EXIT_TIME - cancelallorder + closeposition is called automatically## Templates| Template | Description ||---|---|| `short-straddle` | Sell ATM CE + ATM PE at scheduled time, per-leg broker SL at SL_MULTIPLIER * premium, flat at EXIT_TIME || `iron-condor` | OTM_NEAR short CE/PE + OTM_FAR long CE/PE wings, monitor and flat at EXIT_TIME |## Backtest mode is offThe generated file checks for `--mode backtest` and exits:```Options backtesting is not supported in this skill pack.Options pricing depends on volatility surfaces, time decay, and OI dynamicsthat intraday OHLCV backtests don't capture well.Use --mode live (with OpenAlgo's UI analyzer toggle for sandbox).```If the user wants to dry-run, they should:1. Flip OpenAlgo's analyzer toggle ON (in `/analyzer` UI)2. Run with `--mode live` - orders go to the sandbox, not the broker## Avoid- Do not use icons/emojis- Do not auto-roll expiry date (`EXPIRY_DATE = "30DEC25"` is hardcoded; user must update weekly)- Do not implement options backtesting - explicitly out of scope- Do not skip the SL placement - per-leg SL is critical for short premium strategies

Frequently asked questions

Algo Options