The JAN11 490 XYZ call is currently trading at $30.20 - 31.00. You want to buy 1 contract, but only if the Ask price of the underlying stock falls to 464.00 per share. You enter a Limit Buy order for 1 contract, then right-click the order line and select Modify > Condition from the menu.

On the Conditional tab in the Order Ticket, you add a new condition by clicking the Add button and following the steps shown above. You want to buy 1 contract if the price of the underlying stock falls to 464.00 per share so you select Price as the condition, then enter the underlying symbol, trigger method, operator and trigger price.

In this example, we are using the Default trigger method, which for US options is the double bid/ask method, where two consecutive ask price (bid price) values must be less than (greater than) or equal to the trigger price, and the second bid or ask must have greater size if it is at the same price level as the first bid or ask.

You click Transmit to submit the order.

You've transmitted your Conditional order. When the price of the underlying stock falls to 464.00 per share, your Limit order to buy 1 option contract will be submitted.

The market price of the underlying XYZ stock falls to 464.00, which is the trigger price for the condition. The condition having been satisfied, a Limit order for 1 XYZ option contract is submitted with a Limit price of 30.95.

The market price of the underlying XYZ stock falls to 464.00, which is the trigger price for the condition. The condition having been satisfied, a Limit order for 1 XYZ option contract is submitted with a Limit price of 30.95.