How to create Conditional Orders?

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GeneHo

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e.g. I have BTO (Buy-to-Open) SPY 296 Call at $2. I wanted to create a STC (Sell-to-Close) order based on the following conditions:

1. If bid price is above $3, trigger the order then cancel point 2 order
2. if bid price is below $1, trigger the order then cancel point 1 order

How can I do that ? I tried StopLimit order, it doesn't work.
 
BenTen

BenTen

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Are you doing this manually or are you looking to develop an auto trade strategy that execute based on those conditions? If that’s the case, I don’t think it is possible.

If you’re asking about the trading platform itself, you may want to chat with ThinkorSwim support. They should be able to help with their execution tools.
 
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GeneHo

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Thanks @BenTen . I'm doing it manually. I did write to ThinkorSwim support, they only send me a link to your website and I don't understand the e.g written in their example. Apparently, they don't seem to be keen in supporting me. Maybe my account is too small for them.
 
BenTen

BenTen

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Staff
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@GeneHo Hmm. If ToS wasn’t able to help I’m not sure if we can. Since you’re asking more about the execution side of thing we don’t have control over that.
 
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