How to Place a 3 Leg Bracket Stop Order
3 Leg Bracket Stop orders are typically used to open a new stock or option position and simultaneously create a target price and protective stop price to close the position. To create this type of order, follow the instructions below.
- Create an order by clicking on any quote for the stock or option you would like to trade and then choosing buy or sell.
- Select “3 Leg Bracket Stop” for your order type.
- Change the first “Limit Price” to the price at which you want to open the position, change the second “Limit Price” to your target price, and change the “Stop Trigger” to your protective stop price. Make any other necessary changes and then click “Submit”.