How can I trade an option when the underlying reaches a certain price in TWS?

Conditional submission of orders is supported for Limit, Market, Relative and Snap order types only. Conditional cancellation of orders is supported only for Limit orders.

Please Note…

A conditional order is an order that will automatically be submitted or cancelled ONLY IF specified criteria for one or more defined contracts are met. You can use stocks, options, futures or security indexes to trigger a conditional order. Types of conditions include Price, Margin Cushion, Volume, Percentage Change, Trade or Shortable Shares…

When you are adding an asset to your Watchlist and select Options as the instrument type, the Option Chain is displayed. To see additional expirations:

• In TABBED VIEW, click on the MORE tab and use the check box next to Weeklies/Quarterlies…

The Conditional order type does not support Stop or Stop Limit Orders. It is possible to select other order types such as Limit or Market in the conditional order.

If you wish to enter a conditional order on a position, right click on the position in your portfolio and select Trade followed by Order Ticket. Configure the order as desired (please note, all order types may not be available). To attach the condition, click on the Conditional tab at the top and configure as desired…