More than 4 option legs in one order. Which brokers allow/able?

[Doc2034]

If you have access to StreetSmart look at the all-in-one trade ticket. Haven't done more than 4 sides in a decade, but it should have been 16 by now. They'll need to be identifiable strategies and not just random legs alone.

Thank you for your suggestion. I found this:

https://help.streetsmart.schwab.com/SSCentral/1.0/Content/Placing Option Orders Multi Leg.htm

Which states "up to four legs".

I will reach out to them to confirm.

 

[Doc2034]

Schwab can too do this...but you may never get a fill if you get too fancy, the mid price is usually the key to hope but like I said you may not get it, EVER!

Thanks! I will check with Schwab. In the meantime, I found this online which indicates "up to four legs". Let's see what they tell me.

https://help.streetsmart.schwab.com/SSCentral/1.0/Content/Placing Option Orders Multi Leg.htm

 

[Adam777]

... wouldn't legging into a larger spreads (even breaking the larger spreads in half) get you a better fill price? I know when I try to get out of illiquid underlying's, including even using basic flys, I have to pull the spread apart just to exit the position. Just break these multi-leg spreads in half, enter the complicated side of the spread first, then enter the simpler side of the spread second.

 

[Doc2034]

... wouldn't legging into a larger spreads (even breaking the larger spreads in half) get you a better fill price? I know when I try to get out of illiquid underlying's, including even using basic flys, I have to pull the spread apart just to exit the position. Just break these multi-leg spreads in half, enter the complicated side of the spread first, then enter the simpler side of the spread second.

Absolutely. That does work better with manual management. What I am looking to do is to get out of a 6+ leg position once the target level is achieved on the entire position with a limit order. I am ok with slight sacrifice in pricing provided that my PT is reached.