Does the Percentage Change condition refer to the underlying at the time of order placement?

When creating a Conditional order, the "Percentage" refers to the change from the Previous Close. For example:

  • If you select <= (less than or equal) with value 2%, it means it will trigger if the stock price reaches -2% and not before.
  • If you select >= (greater than or equal) with value 2% it means it will trigger if stock price reaches +2% and not before.

Find out more on the Conditional orders page of the IBKR website.

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