When Level of Stock Hits.. order type?

Has anyone heard of or traded with this qualifier on an options order? If so, which broker was it that offered this type of order?

TIA.

 

IB has conditional orders. Any order can be tied to nearly any condition. When the condition is met, the order fires.

 

optionsXpress customers now have the ability to place option trades contingent upon an equity stock's price. By making an option order contingent, the trade is placed only if/when the market price for the security (stock) specified meets the criteria (greater than or less than a price entered).

 

www.preferredtrade.com has option stops based on the equity price.

 

thanks for the sites everyone. cnms2, is this not advertised at most firms? i thought i looked at optionsXpress among others and didn't see any order type like this.

 

Probably the best way is to contact optionsXpress directly and ask them any questions you have. You can email, chat or call them.

 

it's amazing how much can change after 4 months. this is now offered everywhere...and actually advertised, not hidden.