Lots and limit price

The Commit dialog’s price and size controls decide what IB is asked to do. The price is per IB unit, so changing the size never changes the price.

• Net price: drag along the bid–mid–ask rail, or type or step the number.
• Lots: how many units of the trade’s ratio the order carries. A 2/4/2 butterfly is 2 lots of 1/2/1, which is how IB books it. To close part of a trade, lower Lots (Close a trade).
• Order type: Limit or Market.
• Time in force: Day, GTC or IOC.

Limit prices sit on IB’s 0.05 grid

IB rejects an option combo limit that is not a multiple of 0.05, and refuses the what-if check of it. Tented opens a limit order at the mid moved to the nearest 0.05 and snaps every price you set to the grid. The price is per IB unit, so a 2/4/2 butterfly at 1.15 is the same limit at 1 lot or 5. A price you typed that moved is this snapping, by design.

Tented does not support stop, stop-limit, trailing or bracket orders. Only Limit and Market orders exist, with Day, GTC or IOC.

With the thinkorswim provider, Copy for thinkorswim is disabled for modeled shares, IOC orders and market orders with GTC.

After sending, you can move a limit order’s price from the trade page (Change a working order’s price).