Stop loss-Iron Condor-TWS

Discussion in 'Options' started by sarej, Jan 4, 2014.

  1. sarej

    sarej

    Hello, I would like to ask. When you know how to set Stop-loss in TWS platform from Interactevebrokers. It is for IRON CONDOR strategy.

    For example. I buy IC 178/180-188/190 on market SPY.
    I have 40 USD credit.
    I want to have Stop loss 80 USD.
    What type of market order I use?
    What price I make?
    STP?
    STP-LIMIT?
    LIMIT?
    And my order will, buy or sell?

    Thanks!
     
  2. TskTsk

    TskTsk

    I would use a conditional order. Once the ask price reaches >=80 then submit MKT order.