Hi everybody, i need help regarding setting stop loss and take profit in options trading. By the way, I am using interactive brokers. I still have an open trade in my 'LIVE' account but not sure how to apply it. By setting Limit and transmit at $3 means I take my profit at $3 when the market goes up. * And by setting my stop order and transmit at $1.50 means I stop loss at $1.50 right? *** That's means I have to transmit 2 orders. 1 is a limit and 1 is a stop right?