I am fairly new to IB Trader Work Station and am trying to place Stop orders on my vertical spreads and it just doesn't let me do that. All I see in the drop down list are LMT and MKT...i can however place the various order types for individual legs of the spread... would appreciate any input from someone who's done this in TWS
It is correct that the spreads themselves only allow for MKT and LMT orders. What you can do is make it a conditional order. So, create the order-line and then right-click it, go to modify, then to condition, and add your condition. It can be based on the price of the underlyer, the price of the options themselves or, in fact, on anything else you want. Hope this helpes, gl&hf, Ursa..