Definition
Returns realized option premium still available to spend: net realized P&L from closed short option positions, minus premium already spent by opens sized with Percent of Realized Premium. Proceeds from closing long options are not added back. This is the balance that allocation sizes against. It goes negative when closed shorts lost money, and a negative balance funds nothing. Lookback Days limits it to activity within that many days of the evaluation date; leave it empty for the whole life of the book.
Parameters
Underlying (optional), Lookback Days (optional)
Output range: -∞ to ∞ (dollars)
Example condition
`Option Realized Premium(IBIT) > 500` (at least $500 of banked IBIT premium is available to fund long options)Usage notes
Filtered by underlying only, never by option type: put premium funding calls is the point, and a put-only balance would ignore the call debits. Check it against Option Realized P&L, which measures the same closes without the spending.
Use in a strategy
Add this indicator to a strategy condition, choose its supported parameters and compare the output with the threshold required by your rule. Preserve the same interval and lookback when comparing backtests.
After saving the condition, inspect its asset, interval, lookback and comparison operator against the parameters above. If no trades occur, check whether the condition ever became true and whether the requested input data exists for that period. A missing input is not a zero-valued signal. An indicator produces an input to a rule. It does not establish future returns, and data availability can differ across assets and periods.