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Buying an option strategy "at once" and minimize spread: is it possible?
Started:June 8th, 2015 (09:04 AM) by mikhail12 Views / Replies:276 / 4
Last Reply:June 13th, 2015 (09:27 AM) Attachments:0

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Buying an option strategy "at once" and minimize spread: is it possible?

Old June 8th, 2015, 09:04 AM   #1 (permalink)
Trading Apprentice
Moscow (Russia)
Futures Experience: Intermediate
Platform: Quik (Russian platform)
Favorite Futures: Stock Options
Posts: 6 since Jun 2015
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Buying an option strategy "at once" and minimize spread: is it possible?

Suppose I want to buy an option strategy consisting of, let's say, 4 legs (a butterfly, for example).

1) Is it possible to place an order for the whole strategy at a certain price? Let's say, I am ready to buy the butterfly for 10 dollars.

2) Or do I need to buy / sell the individual options and "pay a spread" each time?

So basically my question is whether it is possible to minimize the spread cost when buying a complex option strategy.

Thank you.

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Old June 8th, 2015, 09:04 AM   #2 (permalink)
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Old June 9th, 2015, 11:37 AM   #3 (permalink)
Elite Member
Steubenville Ohio
Futures Experience: Intermediate
Platform: OX, OEC, RJO
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Spread Order

It is possible, but dependent upon the broker and/or platform you are using. I know OptionsXpress will allow you to enter complex spread orders like butterflies as a single limit order.

This will help you get in at the price you want (minimizing slippage), but could make it more difficult if the market isn't very liquid. There are times where I will place individual orders for each leg rather than a spread order if I need to get a fill quickly.

Hope this helps.

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Old June 9th, 2015, 08:53 PM   #4 (permalink)
Trading for Fun
Atlanta GA USA
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
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You can do it with TD Ameritrade and I use the Thinkorswim platform. And it does minimize commissions.

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Old June 13th, 2015, 09:27 AM   #5 (permalink)
Elite Member
New York, NY
Futures Experience: Advanced
Platform: OptionVue
Broker/Data: IB
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What happens to the S&P 500 when a new President takes office?

I trade butterflies and condors as a single order through IB all the time. Option Trader has built in strategies and there is a Strategy Builder for creating other complex positions with up to 4 legs.

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