Drowning deep underwater TSLA SEP25 470/460 Credit Spread

destriero said:
It's trading at 8.80. Your remaining risk is strike diff less mark. Don't even bother with the sign. Now, when selling you lower the bid side price to be marketable; when buying you raise the ask price. Setup each spread individually on your TWS quote page as a DEBIT spread or combo... IOW, price everything as a long spread or combo--that way you're not reliant on whether it was a short or long at the inception of the order being filled. You may be short the spread, but if it setup as a long spread you will always be buying to close.

Say you're in a short iron condor. Set up the custom quote as a long otm call spread and long otm put spread (IC) on the order line. To SHORT to open you would hit the bid. To BUY to close you would lift the offer.

I think you're getting confused due to their combo templates and it's best to steer clear of their bullshit templates. IBTWS' best feature is quoting a complex spread or combo as a single quote. You can type a text header above it.
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That's priceless advice sir, wish I've read this some time ago, would have been much easier for me to grasp it. But it wasn't that bad after all because I forced my self to construct every position leg by leg (by instinct I stayed clear from their templates from day one, glad to know I wasn't wrong) and that way I really learned.

I found another way to close while I was looking for a workaround, I select the individual legs by pressing ctrl and and the right click now displays the 'close as strategy' button, and the quote is constructed the same way as when opening from the strategy builder order panel.
 

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destriero said:
Good poker players = good vol-traders. This dude needs to change his avatar.
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Bet 5 bucks into a 50 pot. Clicked recently thx to you and that insanely good book by Saliba. Synthetics baby. Wish I figured this out before I tossed in the towel on the institutional game. I would’ve been nasty.
 
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