Complex options strategies: when it comes time to close out the trades

Discussion in 'Options' started by darkshogun, Mar 4, 2014.

  1. Doobs789

    Doobs789

    In TOS, when you pull up an order ticket there is a drop-down for "advanced order." The default is for a single order. If you click in that box you will see other order types. While I have never used it, the "blast all" option may be appropriate for your case.
     
    #11     Mar 5, 2014
  2. shooter

    shooter

    Maybe a last resort but you can take some positions off and delta hedge the others, which will buy you some time to take those positions off separately.

    i.e., close the butterfly, delta hedge your vertical so your p/l on it will be flat for awhile (and, considering its SPY, you can adjust deltas without worrying about spread/slippage), and then work the vertical order. Once the vertical is closed, take off SPY delta hedge. Ofcourse that has its own risks in case of an event (say, flash crash 2010, all of a sudden your SPY position would become the risk), and you'll have to babysit everything. But, it's an option. If it's SPY or something else very liquid, you won't have to wait that long for the vertical to close out slightly off of midprice anyway.
     
    #12     Mar 5, 2014
  3. Thanks. I've seen it and I've wondered about it. I assumed it was merely a method to initiate multiple orders, but not necessarily meaning that they have to all be filled at the same time. I'll be asking them about it.
     
    #13     Mar 5, 2014