Can I use stop orders for Options?

Q: Can I use a stop order for options?

A: Stop orders for options are not supported at this time.

Q: What is a stop order?

A: A stop order is a type of order that is placed with a broker to buy or sell a security once it reaches a specified price, known as the “stop price.” When the stop price is reached, the stop order is triggered and becomes a market order to buy or sell the security at the best available price.