$Mini Standard & Poor's 500 (.XSP.US)$
Hi @Investing with moomoo @Moomoo Lily when SPY is at 492 and SPY CALL is at 3.44.
lets say i am keen to buy SPY Call option if SPY reaches 493 (which means the SPY Call may reach 4.20 to 4.40). And so i use a buy stop order on SPY CALL OPTION (see screenshot). question is, does this BSO get triggered by SPY’s price, or by SPY Call’s price?
Meaning, do I place BSO and indicate price as 493, or do I place BSO and ...
Hi @Investing with moomoo @Moomoo Lily when SPY is at 492 and SPY CALL is at 3.44.
lets say i am keen to buy SPY Call option if SPY reaches 493 (which means the SPY Call may reach 4.20 to 4.40). And so i use a buy stop order on SPY CALL OPTION (see screenshot). question is, does this BSO get triggered by SPY’s price, or by SPY Call’s price?
Meaning, do I place BSO and indicate price as 493, or do I place BSO and ...
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Edit name OP : @Moo Options Explorer
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Edit name OP Moomoo Buddy : Hi, thanks for the update. This method of tagging the stop order to the underlying instrument is correct for stocks, but it is incorrect for options.
Options come with a high spread and delta, and the delta means that the stock’s price will never be 1:1 to the call option. So, the call option’s buy stop order should allow for an order based on the stock’s price, and not the option’s price. This is also how other option brokers provide the buy stop order!
I hope I have not confused you by mentioning delta, but I have to highlight that the buy stop order based on a call option’s price is meaningless. It’s like giving me an umbrella in Thailand if it rains in Switzerland. That’s how useful a buy stop order based on the call option’s price will be, to someone who trades options based on the stock’s price movement.
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