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Selling Options on Futures?
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Selling Options on Futures?

  #7091 (permalink)
Market Wizard
Linz Austria
 
Trading Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
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Forex37 View Post
Thanks Ron,

but how to place at ZANER/ Gain / DeCarley a pending order for closing this trade? If I place the offsetting order (closing at 2.30 debit) I can not use a stop order, only either market or limit. If I choose LIMIT, will it be closed at any price above 2.30 or below 2.30?

Thanks

It does not make sense to place stop orders for options. Stop orders become market orders at the time when the stop price is hit. As OTM options are rarely traded the fill cannot be predicted. Significant losses can be the consequence.

You have to watch the trade and close it using a limit order, place when the price of the option has reached the target.

Best regards, Myrrdin

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  #7092 (permalink)
Elite Member
Cleveland, OH
 
Trading Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
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Forex37 View Post
Thanks Ron,

but how to place at ZANER/ Gain / DeCarley a pending order for closing this trade? If I place the offsetting order (closing at 2.30 debit) I can not use a stop order, only either market or limit. If I choose LIMIT, will it be closed at any price above 2.30 or below 2.30?

Thanks

I don't think you can place one order for a 2x3 put spread on Zaner. If you could you would place a GTC limit order to buy at 2.30. It will fill at 2.30. Never higher.

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  #7093 (permalink)
Elite Member
Cleveland, OH
 
Trading Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,991 since Jul 2011
Thanks: 917 given, 5,407 received


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