etrd_place_optn_order {etrader}

Place an Option Order

Description

Execute an option order on the ETrade platform for the selected account. Users are given the option to preview the order before submitting. Note: ETrade offers significantly more complex order structures than what is offered in this function. See the ETrade documentation for more details on submitting complex option strategies.

Usage

etrd_place_optn_order(
  account,
  symbol,
  callPut,
  expiryYear,
  expiryMonth,
  expiryDay,
  strikePrice,
  quantity,
  orderAction,
  priceType,
  stopPrice = "",
  limitPrice = "",
  stopLimitPrice = "",
  quantityType = "quantity",
  orderTerm = "good_for_day",
  marketSession = "regular",
  allOrNone = "false",
  previewOrder = "df",
  etrade_cred = NULL,
  access_tokens = NULL,
  sandbox = FALSE
)

Arguments

account

The account ID key, not the account ID associated with the specific account. Use etrd_account_list to identify the proper account id key.

symbol

The market symbol for the security being bought or sold

callPut

The option type: CALL, PUT

expiryYear

The four-digit year the option will expire

expiryMonth

The month (1-12) the option will expire

expiryDay

The day (1-31) the option will expire

strikePrice

The strike price for the option

quantity

The number of shares to buy or sell

orderAction

The action that the broker is requested to perform: BUY_OPEN, BUY_CLOSE, SELL_OPEN, SELL_CLOSE

priceType

The type of pricing: MARKET, LIMIT, STOP, STOP_LIMIT, TRAILING_STOP_CNST, TRAILING_STOP_PRCT, MARKET_ON_OPEN, MARKET_ON_CLOSE, LIMIT_ON_OPEN, LIMIT_ON_CLOSE

stopPrice

The designated boundary price for a stop order. For trailing stop orders this will represent the dollar amount or percentage trailing value. Enter percentages as whole numbers.

limitPrice

The highest price at which to buy or the lowest price at which to sell if specified in a limit order

stopLimitPrice

The designated boundary price for a stop-limit order

quantityType

The type of the quantity - QUANTITY, DOLLAR, ALL_I_OWN (note: DOLLAR is not yet an option)

orderTerm

The term for which the order is in effect: GOOD_UNTIL_CANCEL, GOOD_FOR_DAY, IMMEDIATE_OR_CANCEL, FILL_OR_KILL

marketSession

The session in which the order will be placed: REGULAR, EXTENDED

allOrNone

If TRUE, the transactions specified in the order must be executed all at once or not at all; default is FALSE

previewOrder

Elect to preview the order before submitting. Options are: 'df', 'json', or 'none' for an instant order entry. In a non interactive environment will default to 'none'. This also indicates how the order output is shown. json will return the output as a list, otherwise it will return as a dataframe

etrade_cred

The output created from etrd_auth_credentials when a valid ETRADE key and secret have been passed. This entry is not required because the output is saved and retrieved from R options automatically.

access_tokens

Access tokens are created using etrd_auth_access_token. This entry is not required because the output is saved and retrieved from R options automatically.

sandbox

ETRADE offers a sandbox environment for validating API calls and responses. If using the sandbox environment, this must be set to TRUE in each function called throughout etrader. ETRADE states "Sandbox responses use stored data that's intended to provide typical responses for basic use cases. So the responses you receive will not contain current data, and may not exactly match your requests in other ways." Essentially, the responses will not match the requests entered but successful pull will indicate whether the entry was valid or not.

Value

A list or data frame of the order entry details

Warning

TRADES THAT ARE SUCCESSFULLY ENTERED WILL BE SENT FOR EXECUTION. THIS FUNCTION HAS HUNDREDS OF POTENTIAL COMBINATIONS AND ONLY A HANDFUL HAVE BEEN TESTED. IT IS STRONGLY RECOMMENDED TO TEST THE DESIRED ORDER USING THE SANDBOX ENVIRONMENT. PLEASE NOTE THE SANDBOX ENVIRONMENT WILL NOT RETURN THE ORDER ENTERED, IT IS USED FOR CONFIRMING THE ORDER ENTRY HAS CORRECT SYNTAX. ORDERS CAN ALSO BE TESTED IN OFF MARKET HOURS ON A VERY SMALL QUANTITY WITH LITTLE MONEY AT STAKE. ANOTHER OPTION IS TO USE LIMIT ORDERS FAR FROM THE CURRENT PRICE. ETRADE HAS THEIR OWN ERROR HANDLING BUT IF A SUCCESSFUL COMBINATION IS ENTERED IT COULD BE EXECUTED UNINTENTIONALLY. DOUBLE CHECK ALL ENTRIES BEFORE SUBMITTING.

Examples

## Not run: 

# Place Option Buy_to_open order
acts = etrd_account_list()
account = acts$accountIdKey[1]
etrd_place_optn_order(account = account,
                      symbol = 'FB',
                      callPut = 'call',
                      expiryYear = '2018',
                      expiryMonth = '12',
                      expiryDay  = '21',
                      strikePrice = '140',
                      quantity = 1,
                      orderAction = 'BUY_OPEN',
                      priceType = 'market',
                      previewOrder = 'df')


## End(Not run)