Is anyone aware of a way to track the number of option orders that count towards the 390 limit for a professional customer? This is almost impossible to manage on your own when using advanced order types.
In the TWS: If you go Account-Audit Trail-Condensed then you will get all your orders (for each day for the last week). You can copy this data to Excel where you can attempt to calculate how many orders you sent. I say - "attempt" because it isn't as easy as you might expect as it is often difficult to determine how the count is being done. Hard to explain here but you should be able to request your actual order count from IB and compare it to your count. Also, if the idea is to prevent "professional customer" status then you should know that I recently got IBKR to add functionality so that they will send an email to customers warning them if they are getting close to the 390 threshold. For example, there are 19 trading days in Feb. So you can send 7410 option orders this month. As soon as you use 75% of your orders (5558) - you will be notified in an email warning you and also giving you your updated count as well. You will also get another warning at the 90% mark. Take note that the warning email comes around 8 PM (EST) and it is unfortunately 1 trading day behind. So - if your total was at 5559 after the close on a Monday then you will receive the warning Tuesday evening. Not ideal but there is enough "excess at the 75% mark" to adjust your trading even if it is one day behind. hope this helps
Thanks for the detailed reply, it was really helpful Do combo orders count as 1 order or multiple or none? Does order modification also count as 1 order?
You can review the CBOE's rules here: https://cdn.cboe.com/resources/regulation/circulars/regulatory/RG16-064.pdf