Bracket Orders (OCO)
A bracket OCO consists of pair of exit orders with the same symbol, quantity, and order action (Buy, Sell, etc.). When one of the orders is partially filled, the other order's quantity is automatically decremented by the same amount.
For example, lets say that you create a bracket order consisting of a sell limit order for 1000 shares and a sell stop order for 1000 shares of the same symbol. If the limit order is partially filled for 500 shares, the stop remains open and automatically decrements to 500 shares to match the remaining open position.
Bracket orders on Aries can be dictated either by percentage or by dollar amount. Simply navigate to the order screen, then the order type selector, here you will see options for either
bracket %order. Once selected you will see inputs to set stop loss & take profit conditions.
EXAMPLE: You buy 1 AAPL Call with a bracket order. A 10% stop & 10% take profit. That means if the call goes 10% in either direction you will be filled out.