My broker tells me he can't do a stop loss on an option. Do you have any information where I can find/research a broker that offers a stop loss on an option? (May 26, 2001)
Stop losses on options are something the individual broker or ECN provides. The options exchanges do not have any mechanism for stop losses similar to those on stocks. It is usually left up to the brokerage to have a system to do that. As far as full service brokers, I have been able to put a stop loss or limit on every option trade I have made for quite some time. As far as ECN's, Archapelago has one of the most flexible stop order systems. It is becoming more and more common; brokerages that do not handle this for their clients are going to either get it or be left behind.
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