How to Attach a Profit Target and Stop Loss Bracket to an Option Order
When placing an order to buy or sell a simple option (call or put), either a stop, trailing stop or a profit target order can be attached. A bracket order of a stop (or trailing stop) and a profit target can also be attached. Here are steps to attaching the orders.
Note: To attach target and stop orders to a simple option order (single puts or calls), the target/stop orders must be placed from the option chart itself (not the underlying stock). Click Here to see instructions for displaying both the stock and option price charts.
1. Click the Buy button at the bottom of the option price pane to open the Buy order menu
This example uses a Buy Limit order. A Buy Market or Sell Limit/Market can also be used. Note: Process will be the same if you click the Sell button.
2. Select Buy {Sym}...
This places the On-Chart Order Ticket at the left of the chart with the fields pre-filled based on the user-defined default buy ticket. If no changes are desired, simply click Buy {Sym} and confirm to place the order.
3. Attach a stop or target to the order
Attach to the order a Stop/Trailing Stop order or a Profit target.
Select a Stop and Target to create a bracket order.
The OTA ticket is pre-filled with the user-defined values for a bracket order.
4. Click the Buy {Sym} button
5. Confirm to place order
6. Review orders
The bracket order is placed on the chart. The diamond-shaped icon (1) means all three orders are placed in an OTA (One triggers all) group. The green dot (2) means the two sell orders are placed in an OCA (One cancels all) group.
The trading tools work on either a LIVE brokerage account or a PAPER (simulated) trading account. Live market trading requires an account with TC2000 Brokerage (www.TC2000Brokerage.com).