Is TWS able to make option orders based on underlying price?

Discussion in 'Trading Software' started by CFerret, Sep 30, 2007.

  1. Hello everyone!

    Have the following IB TWS question:

    Say I need to buy XX strike call option, but only when price of UNDERLYING reaches XX.

    Is it possible to enter such orders in TWS?

    Thanks in advance!
     
  2. synchro

    synchro

    I assume you're talking about TraderWorkstation from Interactive Brokers. The latest version allows you to enter conditional order for option trades that are based on the underlying stock.

    For example, today I went long IWM put options, and then set a conditional order to close out the long put option position once the IWM rises above a certain price.

    There's no programming involved.
     
  3. Correct, and for the record, the condition doesn't have to be related to the underlying, it can be based on anything quotable.