I have an existing SPX call vertical that I am attempting to roll using a butterfly. The order is BUY +1 BUTTERFLY SPX 100 (Weeklys) 23 JUN 23 4425/4435/4445 CALL @.40 LMT. The order is rejected with the message "Order position effect could not be safely calculated". TOS support says "too bad, that's the way it is". Well, this is not the way it has always been; I have executed this type of order many times over the years. Is anyone else having this problem? Thanks!
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TOS Butterfly Order Rejected
- Thread starter Jim
- Start date
I believe I had that message once a while ago Not sure of the exact circumstances I think it has to do with the mix of open and closed orders
Maybe by closing one leg it will show a naked order Most other brokers don't even allow that kind of trade so you would have to place 2 separate orders one for closing and one for opening
For SPX if you have a naked leg the margin is huge 80-90k
Maybe by closing one leg it will show a naked order Most other brokers don't even allow that kind of trade so you would have to place 2 separate orders one for closing and one for opening
For SPX if you have a naked leg the margin is huge 80-90k
Jim, I have had this problem also. the agent said the same thing to me as status1, but they have always gotten ahold of the margin department to push it through. Try calling back to get a better agent. Occasionally, I have done two single orders to get the roll I wanted without dealing with CS
you may have overlapping strikes with other trades.I have an existing SPX call vertical that I am attempting to roll using a butterfly. The order is BUY +1 BUTTERFLY SPX 100 (Weeklys) 23 JUN 23 4425/4435/4445 CALL @.40 LMT. The order is rejected with the message "Order position effect could not be safely calculated". TOS support says "too bad, that's the way it is". Well, this is not the way it has always been; I have executed this type of order many times over the years. Is anyone else having this problem? Thanks!
For example you may have -1 4435 CALL strikes and you are trying to make the trade for +2 4435 CALL strikes. In this case TOS can't place this trade.
If this is the case you may need to place separate spreads -1 4425 / +1 4435 and +1 4435 / -1 4445 instead of BUTTERFLY
I have gotten the exact same issue today and this past Friday. I was trying to roll out a CALL vertical, but kept getting the same rejection message. Neither person at TDA who helped me make the trade over the phone knew why this was happening. The guy today said the thought it had something to do with changing the existing long CALL in the vert to a short CALL position. He said it was some kind of "protection"? I haven't had a need to make this kind of roll any time recently (barring today and Friday), but I used to use this technique to roll trades all the time in the past. What's up TDA?