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BWB roll in TOS

  1. Is it possible to roll a BWB as a single order in TOS? I just want to roll out the same strikes to the next month. The TOS order entry has a vertical roll but I couldn't find any way to roll a butterfly.
     
  2. Not that I know of. Suggest you call/email the TOS trade desk (see Help tab for contact info).
     
  3. Rolling a BWB is a 6-legged spread if you want to put it on all at once (i.e. close BWB #1, open BWB #2). I'm pretty sure ToS has a maximum of 4 legs.
    You'll have to do it in at least 2 steps. If you have enough margin you can put on BWB #2 first, then take off BWB #1. If you're tight on margin close BWB #1 first, then put on BWB #2.
    Further complicating things it's sometimes advantageous to take off a BWB as as a set of verticals.