Newb Question

Is there anything as a stop order on an option contract based on the underlying stock price?

 

There is if your broker sets up something like that in their computer system. Interactive Brokers have such contingent orders.

 

Be careful, options stop orders are very dangerous. You won't be able take control of your execution price or if they'll be filled (limit orders)

Sugar

 

I seen ETrade has contingent orders. I am not sure if it can be down with options.

 

I do use IB. Do you know the name of such order? Thanks

 

Conditional order.