](https://hub.docker.com/r/brndnmtthws/thetagang) [ ](https://hub.docker.com/r/brndnmtthws/thetagang) [

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Θ ThetaGang Θ

_Beat the capitalists at their own game with ThetaGang 📈_

ThetaGang is an IBKR trading bot that started as a basic implementation of "The Wheel" strategy and has grown into a broader, configurable portfolio automation tool. The Wheel is a strategy that surfaced on Reddit, but has been used by many in the past. ThetaGang still supports a modified version of The Wheel, and now also includes features like direct share rebalancing, cash management, VIX call hedging, regime-aware rebalancing, and exchange-hours gating.

Risk Disclaimer

⚠️ WARNING: Options trading involves substantial risk and is not suitable for all investors. Selling options can result in significant losses, potentially exceeding your initial investment. Selling naked puts has theoretically unlimited downside risk if the underlying asset goes to zero. This is not a "free money" strategy—you are being compensated for taking on real financial risk.

Before using ThetaGang:

• Understand that you can lose money, especially in trending or volatile markets
• Ensure you have sufficient capital to handle worst-case scenarios
• Be prepared to own the underlying securities at potentially unfavorable prices
• Consider paper trading first to understand the mechanics and risks
• Consult with a financial advisor if you're unsure about the risks

How it works

Start by reading the Reddit post to get some background.

The strategy, as implemented here, does a few things differently from the one described in the post above. For one, it's intended to be used to augment a typical index-fund based portfolio with specific asset allocations. The default configuration includes a diversified portfolio with SPY (40%), QQQ (30%), TLT (20%), and smaller positions in individual stocks. This strategy reduces risk, but may also limit gains from big market swings. By reducing risk, one can increase leverage.

ThetaGang is quite configurable, and you can adjust the parameters to suit your preferences and needs, but the default configuration is designed to be a good starting point. ThetaGang makes some assumptions about how to run this strategy, but you can tweak it to your liking by modifying the `thetagang.toml` file.