A Brutus Options Ranker Calculation is a generic term for one of the many calculations that can be performed by your Brutus Strategy when searching and ranking potential options trade. A Ranker Calculation could be any of the following types:
- Spread-Level Criterion which is any calculation scoped to the combination of options contracts in the spread. A criterion must be accompanied with an objective. Depending on the calculation type, the objective could be to either minimize, maximize or target the criterion to a specific value.
- Underlying-Level Criterion, which is the same as a spread-level criterion except that it's scope is specific to the underlying security and not on the spread itself.
- Filter - Filters are used to exclude trades before ranking. Some calculation only give a filter signal (true/false). For example, The 200d Simple Moving Average Cross-Above will only signal true when the underlying prices opens below the 200d moving average and closes above the 200d Moving Average.