Once a position is open, you may find that some adjustments are needed at scheduled times or intervals. We offer a limited number of targeted adjustments, described below.

If you add an adjustment to a bot that is currently running with a position on, that adjustment will run the next time your adjustment time is hit. If that time is in the past for the current day, the adjustment will first run the next market session at your specified time.

All currently enabled adjustments will run for any positions even if the adjustment was added after the position was opened.

You can cancel an adjustment either by removing (deleting) it from the bot itself or simply disabling it. You can enable and disable adjustments from the bot's list of adjustments. To delete an adjustment, you'll need to open the adjustment itself and click the red "Delete" button.

This will cancel a closing order that is currently running for the bot. This only applies to standing profit target orders (not stops).

You must specify a time of day to cancel the order, and you can optionally specify days to expiration as well. If you specify days to expiration, your closing order will be canceled at that number of days to expiration at the time of day that you specify. If you do not specify days to expiration, then your closing order will be canceled at the same time every day. This is typically paired with a "Re-enter Closing Order" adjustment so that your closing order goes back on later.

This is most commonly used to cancel a closing order a few minutes before market close to eliminate the possibility of a position closing right before market close with not enough time to enter a new position.

If taking advantage of the previous adjustment (Cancel Closing Order), you may wish to re-enter that closing order at a later time. If you would like the closing order that was previously canceled to start working again for the next market session, you can add an adjustment to re-enter the closing order either after hours or during the next trading session. This only applies to standing profit target orders (not stops).

If at the time you re-enter your closing order and your limit price is very far from the current market price, your broker may reject the new limit price. If this happens and Whispertrades detects that it's because your limit price is now significantly worse than the current market price, the bot will forcefully close your position closer to the market price. This is because your previous limit price is far from the market and you can now exit at a much better price.

If you wish to close a position early, at a scheduled time, you can use this adjustment. When adding this adjustment, you'll also specify Days to Expiration and Time of Day for it to execute. At that DTE and time of day, your bot will enter a closing order at the best available price. It will continue to attempt exit un.

Due to poor liquidity on options on expiration day near the end of the market session, when closing on expiration day, it is recommended to schedule this adjustment at least 10 minutes before the market closes. Trading a position that is minutes from final expiration can result in significant losses due to bid/ask spread slippage. This is generally only the case on expiration day and not prior days.

After the bot successfully closes the position, it'll immediately run and look for a new position if your bot allows a new position at that time of day.

Unless utilizing this adjustment, each bot can only carry one open position at a time. If you wish for a bot to enter and maintain two open positions simultaneously, you can use this adjustment to do it.

When you add this adjustment, you will need to specify 'Days to Expiration' and 'Adjustment Time' so that the bot knows when to enter the second position. These two settings, Days to Expiration and Adjustment Time, are relative to your current open position. If you wish to enter a second position at 3:00pm on expiration day of your current position, then you should set Days to Expiration to 0 and Adjustment Time to 3:00pm.

On the specified Days to Expiration and Adjustment Time, the bot will enter a second position and manage it just like the first. For each position, the bot will utilize the full allocation given to that bot. It will not divide the allocation by number of open positions for the bot.

NOTE: This adjustment will only execute if your bot currently has an OPEN position. If the bot has no open positions when Enter Second Position is scheduled, then the adjustment will not trigger and a new position will not open.

When it's time for this Enter Second Position adjustment to execute, the bot will attempt its normal order entry process with multiple limit orders until it gets a fill. It will continue to try and fill a second position until the adjustment's designated "End Time".

If you have a wide time window (Adjustment Time to End Time) on this adjustment, the bot will continue to execute this adjustment as long as there is only one open position and as long as any other adjustment criteria (if any) are met. While a bot can only carry two positions at a time, you can configure this adjustment to execute throughout the day as one position closes so that the bot opens another to continue managing two positions simultaneously.

Generally speaking, the Enter Second Positon adjustment will execute at its designated time, regardless of any entry conditions or restrictions on the bot itself. For more on this, reference the information below.

If you would like to restrict the adjustment with its own conditions/filters, you may do so using the Adjustments filters at the bottom of this page.

Days of the Week

The bot will not enforce a potential Days of Week filter on the bot (under Entry Conditions) when the Enter Second Position adjustment is scheduled. This adjustment will run at its scheduled Days to Expiration and time even if not on a day of week allowed under the bot's entry conditions..

Disable on Close

This adjustment, Enter Second Position, will not execute if your bot is currently set to Disable on Close.

Outside Earliest/Latest Entry Time

If your bot has earliest and/or latest entry times configured, Enter Second Position will still run at its designated time even if outside of your bot's earliest/latest window. Those times are only used for the bot's first position.

Maximum Entries Per Day

The bot will not check or enforce its Maximum Entries Per Day when the Enter Second Position adjustment is scheduled. This adjustment will run even if the bot is already at its maximum entries per day.

The new position that is entered from this adjustment will contribute to the bots total entries per day, though.

Avoid FOMC

If the bot is configured to Avoid FOMC, that rule is not applied to the Enter Second Position adjustment.

This adjustment will let you change your standing profit target order based on time of day and any other criteria available for adjustments. This is useful if you wish to use different stop values based on time to expiration.

When this adjustment executes, the bot will enter a new closing profit target order at the adjustment's specified value. This value will remain until it is modified again (either by another adjustment or by yourself) or when the position closes. When the position closes, the bot's profit target will revert back to its original (pre-adjusted) value. You can schedule multiple adjustments throughout the day to utilize multiple different profit targets.

If your bot manages more than one position, all positions will use the same new profit target value.

You can override the current profit target for any single position by updating that order price at Whispertrades. You should always do this at Whispertrades, not directly in your brokerage account.

If you manually change the profit target after an adjustment, that new profit target that you specify is the new default for the bot, and it will not revert or change when the position closes.

The above "Change Stop" adjustments will change your monitored stop values based on days to expiration and time of day. This is useful if you wish to use different stop values based on time to expiration.

At your scheduled DTE and time, the new stop value will take effect. This value will remain until it is modified again (either by another adjustment or by yourself) or when the position closes. When the position closes, the bot's stop will revert back to its original (pre-adjusted) value. You can schedule multiple adjustments throughout the day to utilize multiple different stop values.

Monitored stops are a bot setting, not a position setting. If your bot manages more than one position, all positions will use the same stop value. If you don't want both positions sharing the same stop value, you need to run separate bots.

If you manually change the stop value after an adjustment, that new stop value that you specify is the new default for the bot, and it will not revert or change when the position closes.

If you want your adjustment to only executed based on the status of the bot's current, open position, you can specify those position filters here.

Your adjustment will only execute if the bot's current open position is at least this minimum delta value.

Your adjustment will only execute if the bot's current open position is not above this maximum delta value.

Your adjustment will only execute if the bot's current open position is at least this minimum profit percent.

Your adjustment will only execute if the bot's current open position is not above this maximum profit percent.

Your adjustment will only execute if the bot's current open position is at least this minimum out-of-the-money (OTM) percent.

Your adjustment will only execute if the bot's current open position is not above this maximum out-of-the-money (OTM) percent.

Your adjustment will only execute if the current at-the-money implied volatility for your options chain is at least this amount. This is at-the-money implied volatility, not implied volatility for your actual strike(s).

Implied volatility is an estimation and is not consistent between different sources (ie: Whispertrades and brokers). The implied volatility that you see at Whispertrades will not match exactly what you see at your broker. The gap will be larger for high IV and/or options that are near expiration.

Whispertrades has its own implied volatility formula (using Bisection) and uses actual time to expiration rather than whole days to expiration. This better reflects how IV changes as you approach expiration. Additionally, both Whispertrades bots and backtests use the same implied volatility formula, providing a consistent experience when comparing backtest performance to live trading.

Your adjustment will only execute if the current at-the-money implied volatility for your options chain is under this amount. This is at-the-money implied volatility, not implied volatility for your actual strike(s).

Implied volatility is an estimation and is not consistent between different sources (ie: Whispertrades and brokers). The implied volatility that you see at Whispertrades will not match exactly what you see at your broker. The gap will be larger for high IV and/or options that are near expiration.

Whispertrades has its own implied volatility formula (using Bisection) and uses actual time to expiration rather than whole days to expiration. This better reflects how IV changes as you approach expiration. Additionally, both Whispertrades bots and backtests use the same implied volatility formula, providing a consistent experience when comparing backtest performance to live trading.

Your adjustment will only execute if the underlying stock/index/ETF price has moved at least a certain percentage for the day.

Your adjustment will only execute if the underlying stock/index/ETF price has moved less than a certain percentage for the day.

Your adjustment will only execute if the underlying stock/index/ETF price has moved at least a certain percentage from the opening price of the current session.

Your adjustment will only execute if the underlying stock/index/ETF price has moved less than a certain percentage from the opening price of the current session.

Your adjustment will only execute if the current VIX value is at least this amount.

Your adjustment will only execute if the current VIX value is at least this amount.

Adjustments run independently from the bot and execute at their scheduled adjustment time. If your bot has any entry filters on it, such as earliest/latest entry time, days of week, or underlying % move, the adjustment will not respect those bot entry filters. If you wish for your adjustment to use entry filters, you specify those separately on the adjustment. Those filters can match the bot or be completely different. Available filters are listed below.

Specify any combination of days of the week (Monday through Friday) that the adjustment is eligible to execute on.

If you wish to restrict your adjustment based on bot variable values, whether controlled by this bot or another bot, you may do that by adding bot variables to your bot's entry condition.

For more information on this, please reference our guide page on Variables