Broker with Stop loss functions on options contracts

Community AMA
1

I have been wondering if there are any brokers that have this functionality. I use trailing stop loss by percent or dollar amount when I am trading stocks. HowEver I noticed that I can’t do that with options (or maybe I haven’t figure out how to yet). I have also read that using stop loses can be a bad idea because of the large spreads we are more likely to see with options compared to stocks.

Does anyone have experience with this? Or have recommendations on what broker has this feature and if it’s even a good idea to use it?

2

Stop loss on options is not recommended, you should make the decision based on the stock price action.
None of the brokers I know offer trailing stop loss on options. However, TradeStation offers a stop loss based on the underlying stock price action (meaning the option position will close based on the stock itself hitting a given level).

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3

Thanks! That helps. I will look into tradingview. Do you use them or have any idea if they are a good broker ?

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4

Tradingview is not a broker, they provide a charting interface, that can be linked to a broker (they have a list of brokers they are integrated with).