In simple English
This tool connects to your brokerage account and runs trades on a schedule. It follows a strategy called the wheel, which involves selling options to collect cash premiums. It can also rebalance your stock holdings and buy hedges against market drops. You need an active brokerage account and some programming comfort to set it up. It is free software, but trading options can lose you real money.
What it is
ThetaGang is a Python program that automates systematic option-selling and portfolio-rebalancing strategies through the Interactive Brokers API. It runs daily or weekly using configuration files, managing orders, risk limits, cash sweeps, and database logging.
What it is good for
Solo builders who want to automate a long-term trading strategy without building custom broker integrations from scratch.
- Bundled with Docker and IBC for easier login automation.
- Includes dry-run mode to test orders without spending money.
- Saves order history and account snapshots to a local SQLite database.
- Requires an Interactive Brokers account with funding and market data subscriptions.
- Selling options on margin carries high risk and can cause severe financial losses.
- Requires comfort with command-line tools, configuration files, and Docker containers.
manual options trading and portfolio rebalancing
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pip install thetagang