Automatic Exit for Long Legs When Short Leg Stop Loss is Triggered | Voters

Automatic Exit for Long Legs When Short Leg Stop Loss is Triggered

under consideration

Cole M

Currently, the platform can execute a shorts-only exit (when triggered in a shorts only group). However this requires a manual exit for the long legs group. This feature would automatically close the long legs right after the shorts exit.

Secondly re-use of long legs (if available and not exited above) is a nice to have feature.

March 13, 2025

Denny V

If I may add my 2c :)
I used the functionality of 'Group' and added some bits I had in mind.
I took the idea of Leg #1 / Leg #2 from the existing 'Delta Exit', where you can choose what Leg to use as the anchor for Exit.
'Per-Leg Stop Loss' takes the 90% loss of the Short Leg Premium and submits the order of $3.80. Without this toggle on, the Stop order for the Short Leg is based on the Spread Premium of $3.70.
I hope it might help =)

chug

Denny V rusty.moorman@optionomega.com Wow Denny, the way you displayed this is really nice & gives flexibility on the way one could exit a spread. 👍🏾

rusty.moorman@optionomega.com

OTO (supported by all OO-integrated brokers) seems to be the best way to implement this.

ROB H

rusty.moorman@optionomega.com, the bot knows it placed the vertical spread, the bot knows the short side has a SL, the bot learns from broker that SL was hit and short was closed, can't the bot send a "sell the long" order once it learns that the short has been closed? OTO do not really help me because I have to stay glued to my screen all day to see if a short gets stopped out and then I have to manually enter a One Time Order to sell the long leg. Those longs normally have some nice value for the 30-60 seconds after the short is closed out, but because I do so many verticals using the bot I cannot manually find them all as they get stopped out and close them all, but the bot could do that much more efficiently I feel. Am I missing something here?

rusty.moorman@optionomega.com

ROB H - OTO = one triggers another. The orders are entered after the trade is opened; thus, you wouldn't need to manually enter any orders to close the legs if OTO were used.

ROB H

rusty.moorman@optionomega.com: are you planning to add One Triggers the Other functionality to robOOt? That would be awesome as the only reason I cannot surf all day nonstop is that I have to run inside each time a short gets stopped out so that I can close my longs. Tasty does NOT offer OTO trades. They told me it is in the works but probably 3 months. If they did I could enter those manually each time the robOOt opened a new vertical, but again I would have to come in from surfing to do that. My goal is to have robOOt put on all my trades and close all my trades so I do not have to do ANYTHING during RTH. Any help you guys can give me to automate the OTO order even if just resting at the bot would be awesome for me!!!! Thanks

rusty.moorman@optionomega.com

ROB H Interesting, I was under the impression that Tasty did indeed offer OTO functionality. Hmmm

Juho M

Agree, this is must have feature

@wizzy

As a #FullFeature version of this....

"Automatic exits for [other group] (in a two-group strategy) when the exit on one group is triggered"

This would also be useful in backtesting (+1 minute if you want)

Other scenarios (not just the peanuts-steamroller crowd):

for a Double Diagonal - exit the short strangle on a SL, then offload the +DTE long strange
and there are more esoteric versions (e.g. with butterflies) where splitting the orders to get half-decent fills might make sense

scott A

I think this feature would be very beneficial. Some strats are a no go without it. Thank you.

C C

This is a must have feature and possible deal breaker. Give the bot an option to close longs after the short is stopped

John Crowe

Absolutely please add this feature, on Schwab/TS the bot sets a trigger order that sells the long using a market order, as soon as the short stops out.

Matthew M

I agree we need this to manage resting stops, since we can't put a resting stop on a spread.

chug

Agreed, must have feature.

Alberto Moel

This is SO important. Since you can't use broker resting on spreads, at least we should be able to have this option to auto close the longs after a SL on the shorts.

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