Position Builder Overview
The Position Builder is Step 2 of the strategy creation process. Once your Entry Conditions fire a signal, the Position Builder defines exactly what gets traded — the specific options contracts, quantities, and configuration.
What the Position Builder Does
The Position Builder constructs one or more Strategy Legs — individual options contracts that together form your trading position. Each leg specifies:
- Transaction Type — Buy or Sell
- Option Type — Call (CE) or Put (PE)
- Strike Selection — How to pick the strike price
- Quantity — How many lots to trade
- Expiry — Which expiration to target
- Product Type — Intraday (MIS) or Carry (NRML)
Multi-Leg Positions
A single strategy can have multiple legs that execute simultaneously when a signal fires. This is how you build complex options structures:
| Structure | Legs | Example |
|---|---|---|
| Naked Call | 1 leg | Buy 1 ATM Call |
| Bull Call Spread | 2 legs | Buy ATM Call + Sell OTM Call |
| Iron Condor | 4 legs | Sell OTM Call + Buy Far OTM Call + Sell OTM Put + Buy Far OTM Put |
| Ratio Spread | 3+ legs | Buy 1 ATM Call + Sell 2 OTM Calls |
Kickstart Layouts
Don’t want to configure each leg manually? Kickstart Layouts instantly populate the Position Builder with pre-configured, ready-to-trade structures:
| Category | Available Templates |
|---|---|
| Bullish | Buy Call, Sell Put, Bull Call Spread |
| Bearish | Buy Put, Sell Call, Bear Put Spread |
| Neutral | Short Straddle, Short Strangle, Iron Condor |
One click generates all required legs with sensible defaults. You can then customize strike distances, quantities, and expiries.
→ Learn more: Kickstart Layouts
Key Configuration Options
Strike Selection Methods
How the engine selects which strike price to trade:
| Method | Description | Best For |
|---|---|---|
| ATM / Offset | Fixed distance from ATM (e.g., ATM+2, 100 OTM) | Simple, predictable setups |
| Deep OTM Dynamic | Engine finds the optimal deep OTM strike | Premium selling strategies |
| VIX ATR | Strike distance adapts to current volatility | Volatility-aware strategies |
| Greeks | Select strike by Delta target (e.g., 0.15 Delta) | Institutional delta-targeting |
| Reference Order | Base strike on another leg’s premium | Ratio spreads, zero-cost structures |
→ Learn more: Strike Selection
Expiry Options
| Expiry Type | Description |
|---|---|
| Current Week | This week’s expiry |
| Next Week | Next week’s expiry |
| Current Month | Monthly expiry |
| Dynamic Weekly | N weeks ahead (e.g., always 4 weeks out) |
→ Learn more: Expiry Selection
Product & Validity Types
| Type | Code | Description |
|---|---|---|
| Intraday | MIS | Positions squared off before market close |
| Overnight Carry | NRML | Carry positions overnight (margin required) |
| Delivery | CNC | Cash delivery (equity/futures) |
→ Learn more: Lots, Product Types & Validity
Position Builder Flow
Signal Fires (Buy/Sell/Neutral)
│
▼
┌─────────────────────────┐
│ For each Strategy Leg: │
│ │
│ 1. Determine strike │ ← ATM offset, Greeks, VIX ATR, or Reference
│ 2. Select expiry │ ← Current/Next week, Monthly, Dynamic
│ 3. Set quantity (lots) │ ← Auto-converts to exchange-compliant qty
│ 4. Set product type │ ← MIS, NRML, or CNC
│ 5. Place order │ ← Via connected broker API
└─────────────────────────┘Next Steps
Start with the fastest way to build a position:
→ Next: Kickstart Layouts