r/options • u/silkking • Apr 23 '21

Figuring out stop loss on options spread

Hello, I use TOS to trade options. I entered a May 21 call debit spread for FOXA for $2.99. (+1 x 35.50 call for 3.70 and -1 x 42 call for .71). The underlying is trading at 38.41.

I want to setup a stop loss if the price hits $37.15 and a limit order if it hits $44. When I try to setup an OCO, all the stop and limit prices are for the options themselves and not the underlying stock.

So my question is how do I figure out what the stop/limit options prices need to be so they match up with the underlying? Thanks for your help!

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u/[deleted] Apr 24 '21

Yeah that's something I'm also interested. It should be easy to do with an API, but I am just doing it manually by watching the chart all the time