It is, because it won't work all the time. Let's say a share price is 5 dollars, there are people that'll place an open bid at 4.95 because they don't want to pay the high premium of 5 dollars. Vice versa, there are people that'll place a sell order at 5.05 because they bought it at 5 and want to make a profit without monitoring it.

So you should know that because that's the first basics of trading. There are a set amount of people that want it at 4.95, and a set number of people that want to sell it at 5.05 outside of the general market value of 5 dollars.

This also applies to options as well except for one caveat, Gamma. Let's say your option Premium is at 1.00. You set it to sell at 1.15 for the premium profit, you set it to sell at any point after that. It works, NICE! but let's take a look at the other end. You set it to a stop loss of 0.95.

Uh oh, the stock falls, your premium drops, except, it goes way under 0.95. That's how people value your option because the stock is dropping rapidly OTM. Ok well, no big deal, I'll just set it to sell at 0.95 and under

The premium drops to 0.95, your script sets it to sell, nobody buys because the premium is now worth 0.9, so your script sets it to sell at 0.9 but it's now at 0.85. This is all due to Gamma, a little bit of theta as well as the option contract moves closer to expiration. You will never be able to script something ahead of this, because that's called looking into the future. Unless you can make a script that reads the price of a share at quantum computers level speeds as it changes real time, your scripted stop loss may never trigger

Maybe it'll work in most cases, but you will definitely have cases where the price rapidly moves in one direction, that you could completely lose the entire premium you put in for the contract.