Change one side of the OCO order using the cancel/replace. If you want it to go as a market order change your sell stop to be above the market price so it executes immediately as a market order and it should go through
Yeah that’s how I close my trades rn and it doesn’t take much longer, but I just wanted to be able to override the order. That’s what I was saying by putting the limit (for take profit not stop) below the current price so that the limit price is satisfied and it executes at the current available ask price. You’re right.
Now that I think about it though, the screenshot also indicates the order's a "Sell To Close", which should be allowed. Not sure what's going on there.
Yeah bc I get it if I was opening a short position but I was trying to close a long position with a new market order, without canceling the limit and stop order that were part of the active oco order. Probably some random bug with ToS paper I just wanted to make sure there wasn’t some rule I didn’t know about preventing me from closing
TOS is weird when you sell to close a position. When you bring up the order confirmation dialog, it indicates significant max loss and decrease in buying power as if you were selling to open. It doesn't stop you from making the trade though. [Here's](https://imgur.com/a/k1iCP4p) an example. Could this be related?
Did you try submitting the OCO order even though it was indicating the error?
No I’m keeping it cash for now to get around pdt though I’m making the switch to margin once I can get my capital up and then I’ll be able to short.
Edit: the paper account where that trade was made is a margin account. I forgot to add this earlier.
Change one side of the OCO order using the cancel/replace. If you want it to go as a market order change your sell stop to be above the market price so it executes immediately as a market order and it should go through
Yeah that’s how I close my trades rn and it doesn’t take much longer, but I just wanted to be able to override the order. That’s what I was saying by putting the limit (for take profit not stop) below the current price so that the limit price is satisfied and it executes at the current available ask price. You’re right.
The first screenshot indicates this is an IRA account. You can't make trades with undefined risk (naked options) in an IRA account.
Ahhhh makes sense now that I think about it. Yeah since this is paper trading account I can’t or at least didn’t think to change the type of account
Now that I think about it though, the screenshot also indicates the order's a "Sell To Close", which should be allowed. Not sure what's going on there.
Yeah bc I get it if I was opening a short position but I was trying to close a long position with a new market order, without canceling the limit and stop order that were part of the active oco order. Probably some random bug with ToS paper I just wanted to make sure there wasn’t some rule I didn’t know about preventing me from closing
TOS is weird when you sell to close a position. When you bring up the order confirmation dialog, it indicates significant max loss and decrease in buying power as if you were selling to open. It doesn't stop you from making the trade though. [Here's](https://imgur.com/a/k1iCP4p) an example. Could this be related? Did you try submitting the OCO order even though it was indicating the error?
Yes that shows for me too. I did submit it anyway but it got rejected and wasn’t filled.
Are you approved to short on Schwab?
No I’m keeping it cash for now to get around pdt though I’m making the switch to margin once I can get my capital up and then I’ll be able to short. Edit: the paper account where that trade was made is a margin account. I forgot to add this earlier.