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Types of Orders

Types of Orders and Execution

Once you've constructed your options strategy within the builder, you'll need to decide how to execute the trade. Here's an overview of some common order types and functionalities offered by AlgoTest Strategy Builder:

Basket Orders

  • Streamlined Execution: Basket orders enable you to execute your entire options strategy with a single click. This eliminates the need to place individual orders for each option contract, saving time and potentially reducing execution risk. You can simply add the strike you want to execute in the option chain, click on 'live trade', and then click on 'place all order' to execute all the strikes you selected in one click.

By utilizing basket orders, you can efficiently execute your multi-leg options strategies and potentially capture fleeting market opportunities.

Market vs Limit Order

AlgoTest Strategy builder allows you to specify different order types within your basket order, such as market orders for immediate execution or limit orders to define a specific price range for your trade.