Using Conditional Orders with IB

Discussion in 'Order Execution' started by andiamo, Nov 26, 2005.

  1. andiamo



    I would like to setup a conditional order using IB's TWS. I would prefer to not use the spreadsheet, unless that is the only way to do what I want. Anyway, here's what I want to do:

    If stock XYZ is above $20 at 12pm, I would like to buy an option (eg. the XYZ Dec 20 put option).

    My biggest concern with the above is the timing condition. I only want to execute at 12pm. If the condition is not met at 12pm, I don't want to execute the order.

    Has anyone tried this? I thought about using a "Good After Time" order as described in the user guide, but I'm not sure if this will do what I want.

    Since I've never used conditional orders with IB, any suggestions/thoughts that you have will be much appreciated.