How to close very OTM Long options after disassembling one Iron Condor
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Hi there!
I wonder if any of you have solved this problem or has any clues to try to solve it altogether:
I need to close two Long OTM options positions (which worked as a cover of an Iron Condor) after the SHORT legs combo is executed. as the Long legs are very OTM they usually?have no bid price (so you can not always sell them inside a 4 leg combo).
Example?
1) IC bought: 1? SPX? 4100C -1 SPX? 4050C -1 SPX? 4005P 1? SPX? 3955P
2) After I got into the position I place the exit disassembled combo order (just two legs) with SL price to exit the position: -1 SPX? 4050C -1 SPX? 4005P 3) after?position 2) the exit combo is executed/closed This is what I can not solve: I want to close/sell each of the long legs remaining: 4100C and 3955P (without having to monitor it) By attaching an order or creating a conditional order or any other way to close the position without having a program/algorithm to check this.
I've tried to add child orders of each of the legs, but needs to be the same type (combo) I tried Hedge legs but just get one closed and the other one cancelled
Have any of you have successfully?done this? Any workarounds, please?
Thank you
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