Say you want to exit a long option position at a loss; you set a stop loss order. The problem is due to the wide bid/ask spread in the options market (compared to stocks/ETFs - of course, liquidity and bid/ask spreads differ based on the strike prices, expirations, underlying etc.) By the time a completed trade hits the stop trigger, the bid is much lower than where we wanted to sell. I guess you could compensate for this by setting the stop trigger at a higher price but that encroaches on other aspects of my strategy ! You could also use a stop limit but that does not guarantee a fill if the price drops big and fast. My question is this - can you set a stop trigger based on the bid and not a completed trade?