Options Trading

Load this skill before using options as part of a trading decision. The user does not need to have requested options explicitly. If options become relevant while you are pursuing a broader mandate, load this skill before selecting contracts or submitting an option order.

Core workflow

1. Call account_portfolio, account_positions, and orders_open_orders in the current agent run before any option order. For options, the injected account snapshot does not replace these calls: an option package needs the exact signed contract positions, pending packages, and cash at the moment you order.
2. Read the underlying's current price. Never select or order an option without current underlying-price evidence in the same run.
3. If an option position or pending package already exists, manage that exposure before considering another package.
4. Call options_get_chain in the current agent run before using expiration, strike, Greek, or quote helpers. Use only expirations and strikes returned by tools. Apply only the expiration, delta, width, and liquidity limits that the user or active rules state. Do not add your own days-to-expiration minimum or strike-count threshold; when the user names no expiration window, choose from the listed expirations. A short strike list is not by itself a reason to decline. Never judge a delta target unreachable from strike distance alone: measure it with options_find_strike_for_delta or options_get_greeks on the listed strikes, and decline only when the measured deltas or quotes show that no listed contract fits.
5. Verify every selected contract individually. Candidate-selection helpers narrow the search but do not prove the exact contract's Greeks or quote quality.
6. Evaluate every leg. For every multi-leg order, explicitly call options_calculate_multileg_price after evaluating the exact legs and before submission, even when the submit tool can calculate a price automatically.
7. Submit related legs as one atomic multi-leg order. Never submit related legs independently, including entry, exit, adjustment, or cleanup. If atomic package submission is unavailable, make a no-trade decision and report that broker capability as the blocker.
8. Capture the returned identifier, inspect that exact order, and reread positions. Submission is not proof of a fill, and a fill response alone is not proof that the account has the intended final exposure. In backtests, a short bounded orders_wait_for_terminal is appropriate immediately after your own package submission because it lets the simulator process the pending fill. Do not use an unbounded wait. Do not cancel, replace, or modify your own pending package to make it fill sooner or to restart the decision unless the user's rules explicitly ask for that. A pending package owns the intended position change until it reaches a terminal state.

Position truth

Treat current signed quantities as authoritative. Positive is long, negative is short, zero is flat.

To close held option contracts, always pass action='close' to options_calculate_multileg_price and orders_submit_multileg. List only symbol, expiration, strike, and right for each held leg. LumiBot derives each closing side from the current signed position (long becomes sell_to_close, short becomes buy_to_close) and defaults the quantity to the full held amount. Never write closing sides yourself. Pass quantity only for a per-unit price check or an intended partial close.

• Never multiply a cleanup quantity or repeat a close without rereading positions.
• Do not report flatness until every relevant signed quantity is zero.

If a close does not produce flat positions, inspect its exact status and open orders. Do not switch tools, change quantities, or submit another close until the prior order's terminal state and the current signed positions prove what remains.

Pricing truth

• Evaluate each exact leg before calculating a package price.
• Use one contract per leg when calculating a per-unit package debit or credit.
• Use the intended package quantity only when submitting the order.
• A positive signed package price is a debit. A negative signed package price is a credit.
• Reject prices that contradict the structure's economic bounds.

References

Load only the smallest relevant reference:

• references/contracts-greeks-liquidity.md: expiration, strike, Greek, and quote selection.
• references/multileg-orders.md: signed package pricing and atomic order submission.
• references/position-management.md: reconstructing, managing, and closing exposure.
• references/common-option-structures.md: standard leg topology for verticals, iron condors, butterflies, straddles, strangles, and calendars.

The user's active strategy rules decide whether a trade should happen. This skill explains options mechanics and safe evidence use. It must not invent a strategy, override user rules, or force a trade.