Closing Unbalanced Positions

Discussion in 'General Discussion' started by Joe A, Nov 23, 2016.

  1. Joe A

    Joe A Active Member

    Am looking for advice on how to close an unbalanced position. For example, in managing delta over the period of a trade, I end up with 22 short and 20 long calls. This could be a major index (SPX) or a smaller equity (HPQ). In terms of getting filled to close the position, can I submit in TOS a custom order to buy 22 calls and sell 20 calls? Or will a market maker be much more likely to fill a 20/20 vertical and then I have to manage the risk myself of closing the last two short calls.

    Any experience and advice would be greatly appreciated.
  2. ACS

    ACS Well-Known Member

    I trade through IB rather than TOS but I have had an order filled to roll a symmetric butterfly 50 points by using a single +10-30+30-10 combo.

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice