What is an OTO order?

OTO (One Triggers the Other) order is composed of a main order and a group of sub-orders, where the sub-orders are independent of each other. It allows client to place multiple types of orders simultaneously. When the main order is executed (fully executed), all the sub-orders are automatically triggered. (Note: Webull support up to six orders.)

For example:

Assume client wants to buy stock A and places a main order to buy 1000 shares of stock A at a limit price of $100. Additionally, the client sets two sub-orders: the first sub-order is to sell 500 shares of stock A at a limit price of $120, and the second sub-order is to sell 500 shares of stock A at a limit price of $130.

• When the main order is executed and buys 1000 shares of stock A at the limit price, all the sub-orders are automatically triggered.
• In this example, after the main order is executed, two the second sub-orders are waiting in the market.

Conditions:

1. Main order supported types: Market order, Limit order, Stop order, Stop Limit order, Limit if Touched (Take Profit) order, Market if Touched (Take Profit) order, Trailing Stop Limit order. Sub order supported types: Market order, Limit order, Stop order and Stop Limit order.

2. Order placing time: Orders can be placed at any time in the client terminal.

3. Maximum number of sub-orders for one main order: Up to 6.

4. Time-in-force: Clients can choose between "Day" or "Good ‘Till Canceled (GTC)" expiration. If the order is not fully executed within the certain period, the system will automatically cancel it.

Note: If the order fails due to risk control, company actions, or other reasons during the execution process, the order status will be updated to canceledand the system will no longer continue to submit the order.

5. Trigger time: The trading session can be set to "Include Extended Hours" or "Only Regular Hours". The order will be triggered based on different time settings. Once the condition is triggered, the system will automatically submit the default order to the market.

Explanation

1. OTO orders only support the same equity.

2. Estimated value of order combination = Total value of all sub-orders (e.g., Sub-order A + Sub-order B....)

3. Estimated transaction fees for the order = Total transaction fees required for all sub-orders (e.g., Sub-order A + Sub-order B....)

4. Order purchasing power = total purchasing power required for sub-orders (e.g., Sub-order A + Sub-order B....)

5. The triggering of an order does not guarantee execution.

6. After an order is triggered, regardless of whether the corresponding order is executed or not, the order triggering conditions will not take effect again; if necessary, please place a new order.

7. If an order is closed, and the order quantity is higher than the position held when the trigger occurred, the order will not be executed.

8. Orders will only be triggered within the allowed trading hours.