from ib_insync import *
import xlwings as xw


def sendOptionsOrders():
    """
    Places options orders with profit target and stop loss using parameters from Excel.
    Uses bracket orders to ensure proper handling of profit target and stop loss.
    """
    # Create connection
    ib = IB()
    ib.connect(host='127.0.0.1', port=7496, clientId=1)

    wb = xw.Book("SendOrders(Pairs).xlsm")
    ws1 = wb.sheets["Options"]

    # Get values from Excel
    symbol = ws1['B2'].value  # Stock ticker symbol
    right = ws1['C2'].value  # 'C' for Call, 'P' for Put
    strike = float(ws1['D2'].value)  # Strike price
    expiry = ws1['E2'].value  # Format: 'YYYYMMDD'
    quantity = int(ws1['F2'].value)  # Number of contracts
    quantity2 = int(ws1['F3'].value)
    entry_price = float(ws1['G2'].value)  # Limit price for entry
    profit_target = float(ws1['H2'].value)  # Profit target price
    profit_target2 = float(ws1['H3'].value)
    stop_loss = float(ws1['I2'].value)  # Stop loss price


        # Create the option contract
    option_contract = Option(symbol, expiry, strike, right, 'SMART', tradingClass=symbol)
    ib.qualifyContracts(option_contract)

        # Create bracket order
    bracket = createBracketOrder(
            orderId=ib.client.getReqId(),
            action='BUY',
            quantity=quantity,
            limitPrice=entry_price,
            takeProfitPrice=profit_target,
            stopLossPrice=stop_loss
        )

        # Place all orders in the bracket
    for order in bracket:
            trade = ib.placeOrder(option_contract, order)
            #print(f"Order placed: {order.action} {quantity} {symbol} {right} {strike} @ {expiry}")
            ib.sleep(1)

        # Create the option contract
    option_contract = Option(symbol, expiry, strike, right, 'SMART', tradingClass=symbol)
    ib.qualifyContracts(option_contract)

         # Create bracket order
    bracket2 = createBracketOrder(
              orderId=ib.client.getReqId(),
              action='BUY',
              quantity=quantity2,
              limitPrice=entry_price,
              takeProfitPrice=profit_target2,
              stopLossPrice=stop_loss
            )

        # Place all orders in the bracket
    for order in bracket2:
            trade = ib.placeOrder(option_contract, order)
            #print(f"Order placed: {order.action} {quantity} {symbol} {right} {strike} @ {expiry}")
            ib.sleep(0.5)



        # Update status in Excel
    ws1['J2'].value = "Success!"
    ws1['A2'].value = ws1['B2'].value
        #print("Bracket order placed successfully!")

    ib.sleep(2)
    ws1['J2'].value = ""
    ws1['B2'].value = ""


def createBracketOrder(orderId, action, quantity, limitPrice, takeProfitPrice, stopLossPrice):
    """
    Creates a bracket order consisting of:
    1. A limit order to enter the position
    2. A take-profit limit order
    3. A stop-loss order

    Args:
        orderId: Unique order ID
        action: 'BUY' or 'SELL'
        quantity: Number of contracts
        limitPrice: Entry price
        takeProfitPrice: Target price for profit
        stopLossPrice: Price to exit at loss

    Returns:
        List of orders comprising the bracket
    """
    # Determine opposite action for exit orders
    exitAction = 'SELL' if action == 'BUY' else 'BUY'

    # Parent order (entry order)
    parent = Order()
    parent.orderId = orderId
    parent.action = action
    parent.orderType = 'LMT'
    parent.totalQuantity = quantity
    parent.lmtPrice = limitPrice
    parent.transmit = False  # Important: Don't transmit until all child orders are prepared

    # Take profit order (limit order)
    takeProfit = Order()
    takeProfit.orderId = orderId + 1
    takeProfit.action = exitAction
    takeProfit.orderType = 'LMT'
    takeProfit.totalQuantity = quantity
    takeProfit.lmtPrice = takeProfitPrice
    takeProfit.parentId = orderId
    takeProfit.transmit = False

    # Stop loss order
    stopLoss = Order()
    stopLoss.orderId = orderId + 2
    stopLoss.action = exitAction
    stopLoss.orderType = 'STP'
    stopLoss.totalQuantity = quantity
    stopLoss.auxPrice = stopLossPrice
    stopLoss.parentId = orderId
    stopLoss.transmit = True  # Transmit all orders now

    bracketOrder = [parent, takeProfit, stopLoss]
    return bracketOrder

You would have simultaneous buy & sell open orders on the same option contract. That's not allowed. Not an IBKR limitation, but a limitation of US option markets where only market makers can have simultaneous buy & sell orders open on the same option contract.

?

Since both your orders are at same entry price, you can just have 1 open order for the total qty, and then have 2 different close orders, each with its qty, profit & stop loss targets, and then just link them together in an OCA group so you get the overfill protection.