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Stock Options Spread Contingent Orders Tutorial
 
This tutorial explains how to enter a contingent stock option spread position with optionsXpress. The following steps will guide you through the process:
 
Stock Options Spread Contingent Orders in optionsXpress Account
 
1. After logging into your optionsXpress account, you will see the following (or something similar):
 
 
2. Select “Trade” then "Xspreads"
 
 

3. You should observe the following page:
 
 

4.

Enter a "period" and the long option desiring to enter a contingent close order.

Change "Action" to "Sell To Close".

Enter the desired quantity to trade.

Enter a "period" and the short option desiring to enter a contingent close order.

Change "Action" to "Buy to Close".

Enter the quantity to trade.

Change "Advanced Orders" to "Contingent Order".

Select "Preview Order".
 
 
5.

If bull-put credit spread contingent order change "Trigger" to "less",
if bear-call credit spread contingent order verify "Trigger" is set to "greater".

Enter stop loss value.

Select "Preview Order".
 
 
6. Select "Place Order"
 
 
7. Select “Check Order Status”
 
 
8. Verify contingent order was entered and/or select "Modify", "Cancel" or "Trade" as needed
 

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