On a specific leg, when going to open a spread is there an equation that can tell me at what strike price I should sell at and what strike price I should buy at?
I look at this options calculator website and see if I but at just the right strike price below the current underlying price, and sell at the just the right strike price above the current underlying price I can find a sweet spot where I can usually get some good numbers if I stay above the underlying price at the time I open the position. It's easier to show than explain.
I can't always get predictions like this from all options chains. Sometimes the prices of the options and, I think, the option's volatility seems to effect the type of 'action' you can get on price movements of a spread.
My question again, is there an equation or code in Python that can tell one which are the best two options to, one buy, and second, to sell for the most profit?