How to conditioned selling ?

Discussion in 'Options' started by satoh, Feb 28, 2018.

  1. satoh


    Hi, I am using TWS of Interactive Brokers.
    I am going to buy a put option of VXX.
    Concerning the put option that I will buy, I want to set the sell condition like this; when the price of VIX goes over the price of VIX future (near term), the put option is sold automatically at the market price.
    Please advice me how I do this.
  2. JSOP


    You won't be able to do it. IB's Condition does not allow one to compare two prices.
  3. This is one of those non-obvious things that makes IB's TWS simultaneously magic, and a p.i.t.a.....

    You need to set an alarm in your trigger-contract -- let's say it was the ES, and you wanted to buy the RUT...

    As the alarm comes up, one box will read, "Advanced Settings" or some such.
    The default tab is Orders, which will be blank except for a ghost-font reading, "Drag/Drop Orders Here...." which, below, was a RTY BUY at LMT 1509.10.....

    "Why is it not under Orders, instead of Alarms??"

    Dunno. :D

  4. satoh


    Thank you for your comment. If I use API, can I do it?
  5. satoh


    Thank you for your advise. I live in tokyo time zone. Alarm will wake me up while I am in sleep...It seems tough for me. Would it be possible with API?
  6. JSOP


    Yes unfortunately if you want to set up an alert to compare the price of one security to another, you would need to program it using API. Functionality in Condition in TWS is very limited.
  7. satoh


    OK. I understand. Thank you!
  8. The example I posted had no API content.
  9. d08


    It doesn't work. He wants to constantly compare the two prices. You showed a simple price alert/condition for a stationary price.
  10. Ah! I getcha.
    Well then, you just track a combo instrument as your target. No biggie.
    Instrument would be something like "VIXindex-VIXfut" ?? Haven't tried it, but his is a graphable creation, which means you can put an alarm on it.
    #10     Mar 1, 2018