graph TD
A[Start] --> B[Eligibility & risk gates]
B --> C[Select symbol, expiration, strikes]
C --> D[Price with clamps]
D --> E[Place SELL credit spread LIMIT]
E --> F{Filled?}
F -- Yes --> G[Persist order & position]
F -- No --> H[Remain open / retry within constraints]
Opening
Screening, selection, pricing, and placement for a short put spread.
Management
Rules to reduce risk, extend duration, or take profits.
graph TD
A[Active spread] --> B{Triggers}
B -->|Return target| C[Buy back to close]
B -->|Roll needed| D[Close & reopen later/safer]
B -->|Risk event| E[Risk controls / reduce exposure]
Closing
Exit on profit targets, time decay, or risk events.
graph TD
A[Active spread] --> B{End conditions}
B -->|Profit target met| C[Buy to close]
B -->|Expiration near| D[Let expire if OTM]
B -->|Risk exceeded| E[Close promptly]