What does the "Limit on concurrent pegged-to-stock and volatility orders exceeded" reject message mean?

Please note that only three pegged to stock and volatility orders can be working at one time. Traders may choose to cancel one of the three working orders in their account in order to be able to submit a new volatility or pegged to stock order. The working quantity limitation cannot be overridden.

Find more information on the order types page of the IBKR website.

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Why did I receive a Notice of Order Cancellation message?
TWS message: "Limit on concurrent pegged-to-stock and volatility order exceeded"
What does "Active Order Limits" mean?
How many ISAs can I have?