How to place a conditional option spread order in Interactivebrokers

Discussion in 'Order Execution' started by spec77, May 15, 2011.

  1. spec77

    spec77

    Hi All,

    Let's say SPY is at 134

    I want to place an order so that when the SPY hits 135, I will sell a put credit spread (Jun 134/135 put)

    SPY is now at 134 and I don't know what the price of the spread will look like when SPY hits 135. Hence I want to place an order to sell at the BID + an offset (say 0.02 ) ( or MID - offset what ever works)

    How do I do this in IB, what order should I use ?

    Thanks
    Spec
     
    #1     May 15, 2011
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