execute-entry

Execute a new MEICAgent iron condor entry. Only invoke when the entry decision (Step 6) is yes.

Requires: strategy strikes, wing width, and quotes already evaluated this iteration.

1. Strike overlap check — fetch open trades for this symbol only (python src/db.py get_open_trades --symbol <symbol>) and collect all strikes currently held across this symbol's open ICs. Confirm that none of the four proposed strikes (short put, long put, short call, long call) appears in that set. A matching strike would either net out an existing leg (partial close) or result in more than one contract at the same strike — both are disallowed. Strikes on other symbols are never compared (they're on different underlyings and different price scales). If any overlap is found, abort immediately without submitting an order.

2. Price check — get the current underlying price:

python src/tt.py get_quote --symbol <symbol>

If the underlying has moved more than 0.5 points since the get_strategies call, re-fetch strikes:

python src/tt.py get_strategies --symbol <symbol> --short_delta <delta_target> --wing_width <width> --around_price <last>

1. Fetch live quotes — get the current bid/ask/mid for all four legs:

python src/tt.py get_option_chain --symbol <symbol> --expiration <date> --include_quotes --around_price <last>

From the response, extract for each of the four legs: bid, ask, mid. Compute:

• ic_mid = short_put_mid + short_call_mid − long_put_mid − long_call_mid
• ic_natural_bid = short_put_bid + short_call_bid − long_put_ask − long_call_ask
• avg_spread_per_leg = mean of (ask − bid) across all four legs

Abort if ic_mid ≤ 0 or ic_natural_bid ≤ 0.

1. Apply price strategy — based on entry_price_strategy config:

   mid (default): Attempt a Day limit at ic_mid if conditions are favorable; fall back to ic_natural_bid otherwise.

   Gate — skip mid attempt and go straight to natural_bid if any of:

   • avg_spread_per_leg > mid_spread_gate (default 0.10) — spread too wide for a mid fill
   • Session is open_volatile (9:45–10:15, elevated gamma) — mid orders stale too fast
   • Session is late (after 14:45) — time pressure outweighs credit improvement
   • ic_mid − ic_natural_bid < 0.03 — spread so tight the improvement isn't worth the wait

   If gate passes:

   • Submit a Day limit at ic_mid (round to nearest $0.01). Go to Step 5 (dry run), then Step 6 (submit).
   • After submitting, wait mid_improve_wait_seconds (default 45s) polling working orders.
   • If filled within the wait: proceed to Step 7 (save trade).
   • If unfilled: cancel the working order, then resubmit at ic_natural_bid as a Day limit. Proceed to Step 5 and Step 6 for the fallback order.

   If gate fails: use ic_natural_bid directly as a Day limit.

   natural_bid: submit the order at ic_natural_bid as a Day limit.

   ioc_step: try IOC orders at ic_natural_bid + each increment in ioc_step_increments, waiting ioc_step_wait_seconds per attempt. If none fill, fall back to ic_natural_bid as a Day limit.

   day_improve: submit a Day limit at ic_natural_bid + day_improve_amount. Wait day_improve_wait_seconds. If unfilled, cancel and resubmit at ic_natural_bid.

   auto: choose strategy based on session window, spread width, and IV rank:

   • open_volatile or late: use natural_bid
   • prime or midday, avg_spread_per_leg ≤ 0.07: use mid
   • prime or midday, avg_spread_per_leg > 0.07: use day_improve
   • afternoon: use day_improve if IV rank > 0.40, else natural_bid

2. Dry run — submit a dry-run order at the chosen limit price and check for errors, buying-power warnings, or rejections. Abort without submitting if the dry run fails.

python src/tt.py execute_trade --order '<JSON order spec>'

(Default is dry run; omit --live to validate only.)

5a. Pre-submit requote — immediately before adding --live, re-fetch the current bid/ask for all four legs:

python src/tt.py get_option_chain --symbol <symbol> --expiration <date> --include_quotes --around_price <last>

Recompute ic_natural_bid from the fresh quotes. If either of these conditions holds, abort the live submission and re-evaluate next iteration:

• ic_natural_bid ≤ 0 (credit has flipped to a debit — would trigger Spread Checker rejection)
• ic_natural_bid < planned_limit_price − pre_submit_requote_threshold (price has dropped more than $0.03 from the dry-run price)