Delta Exchange Options Strategy Template (Auto-Pilot)
An option contract is a temporary instrument. It has a strike, an expiry, and a price that reflects premium rather than the underlying market.
That creates three practical problems:
• Contracts expire constantly. The daily option you traded this morning does not exist tomorrow.
• The symbol changes every time. As price moves, the at-the-money strike moves with it, so the contract you want is a different one on every signal.
• Premium is not the market. An option’s price reflects time decay and volatility as well as direction, so indicators applied to a premium chart produce misleading signals.
For these reasons you cannot build a workable strategy directly on an option chart. There is no continuous history to analyse, and by the time you set up an indicator the contract has changed.
The approach: analyse the future, trade the option
The practical solution is to separate the two jobs.
• Analyse on the perpetual futures chart, such as BTCUSD.P or ETHUSD.P. This gives you continuous price history, real volume, and a clean series for any indicator you want to use.
• Trade in options, by converting the signal your indicator produces into the correct option contract at the moment it fires.
The second half is the hard part, and it is what the Auto-Pilot template automates. It watches your signals on the futures chart, works out which option contract corresponds to that signal right now, and sends the order to your Delta trading bot.
You get option exposure with defined risk, driven by analysis done where analysis actually works.
Features
Auto-Pilot expiry selection
Choose Daily, Weekly or Monthly and the template picks the nearest matching expiry on its own. After settlement it rolls forward to the next one automatically. You never update a date by hand.
Dynamic symbol construction
The full Delta option symbol is rebuilt on every bar from live price, so the contract is always current at the moment your signal fires.
BTC and ETH support
One template covers both assets. Strike increments adjust automatically for the asset and the expiry type. If your chart and your asset selection do not match, a warning appears.
ATM, ITM and OTM strike selection
A single number controls moneyness. Zero is at-the-money, a positive number moves out of the money, a negative number moves in the money. It behaves consistently across calls and puts, so plus one is always further out of the money regardless of which you are trading.
Long and short action templates
Decide what each signal direction does:
• On a buy signal: buy a call, or sell a put
• On a sell signal: sell a call, or buy a put
This covers both directional trading and premium collection from the same template.
First-signal auto-sync
When you first load the template, it has no knowledge of what you hold on Delta. This feature makes the first live signal send only an opening order, so the template does not try to close a position that exists solely in its own state.
Auto-flatten on expiry
If a contract you hold reaches expiry, the template resets its own state. It will not later send a close order referencing a contract that no longer exists.
Entry state tracking
The exact symbol, quantity and expiry used at entry are stored. Your exit always refers to the contract you actually opened, not whatever the chart happens to show at exit time. This matters when an expiry or strike rolls while you are in a position.
Safety guards
• Blocks entries once the expiry cutoff has passed
• Blocks entries if a manual expiry date is already in the past
• Prevents a whipsaw if a long and a short condition fire on the same bar
Live status dashboard
A table in the top-right corner of the chart shows your current configuration, both option symbols, sync status and the position held. Red indicates something needs attention, green means you are live.
Near-expiry warning
Orange markers appear on the chart shortly before the cutoff on a contract you are holding, as a visual prompt to check your position.
Webhook-ready alerts
Every signal sends a structured payload your Delta bot accepts directly, with no formatting work needed at your end.
What you need
• A TradingView plan of Essential or higher. Webhook alerts are not available on the free plan.
• A Delta Exchange India account with options trading enabled.
• A webhook URL and a Strategy ID, created in Delta Exchange under Algohub, then TradingBot.
• A chart of the underlying perpetual, either BTCUSD.P or ETHUSD.P.
Get the template
The script is published open-source on TradingView, so you can read exactly what it does before running it.
Delta Exchange Options Strategy Template (Auto-Pilot): TRADINGVIEW_SCRIPT_LINK
Comments are open on the script page. If you are unsure how to connect a particular indicator, leave a comment with its name and we will help.
Risk notice. This template is automation tooling, not a trading strategy and not investment advice. The bundled EMA crossover is included only for testing and carries no expectation of profit. Options can expire worthless, and selling options can produce losses greater than the premium received. Automated orders execute without further confirmation, so test every setup at the smallest possible size and check that your chart position and your Delta position agree before leaving it running unattended.