Trading Options Using Stock Price on ThinkorSwim Mobile App

In today’s video we’ll learn how to place options trades using stock pricing on the ThinkorSwim Mobile App. In the first example we’ll go through the process of creating a stop loss order on an option contract based on the underlying stock price. To do this in the ThinkorSwim mobile app, you’ll bring up a closing order ticket just like normal. Once the order ticket is pulled up you’ll need to find and click on the “conditions” button. Once that opens you’ll find and click on the “Submit on Market Condition” button. You’ll then be able to use the stock price as a condition for submitting the order. In the second example we cover how to set up a 1st triggers OCO bracket order using the underlying stock price. As usual, you’ll pull up an order ticket and build out an opening trade on the option. Once done you’ll scroll down and find and click on the “Advanced Order” button. You’ll then be able to create your profit taking order and stop loss order for the option. For the profit taking order you’ll typically use the option price rather than the stock price. However, for the stop, you can then use the stock price as a condition to sell the option.