Mechanical Profit Target %
Setting key
mechanical_profit_target_pct
Default
50%
What it does
Closes the position when it has made 50% of the maximum possible profit (the credit collected at entry). This is tastytrade's standard mechanical management rule: taking winners early reduces time in the trade and recycles buying power.
When to change it
Lowering to 25% exits faster with smaller gains but higher win rate. Raising to 75% holds longer for more profit but increases the chance of a winner turning into a loser.
Safe range
25% (fast exit) to 75% (hold longer).
Example
Iron condor entered for $1.50 credit. Profit target at 50% = close when position can be bought back for $0.75.