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Create Interactive Brokers Combination Order

This example shows how to connect to the IB Trader WorkstationSM, create IB Trader Workstation IContract and IComboLegList objects, and create a combination order for a calendar spread. A calendar spread is one of many combination order strategies. This strategy takes advantage of different stock option expiration dates. This example creates a buy order on a calendar spread for Google®. For details about IContract objects, IComboLegList objects, and combination orders, see Interactive Brokers API Reference Guide.

This example uses the sample event handler function ibExampleEventHandler to handle events associated with creating a combination order. Use this event handler or write a custom event handler function. For details, see Writing and Running Custom Event Handler Functions with Interactive Brokers.

To access the code for this example, enter edit IBCombinationOrder.m.

Connect to the IB Trader Workstation

Connect to the IB Trader Workstation and create connection ib using the local host and port number 7496.

 ib = ibtws('',7496); 

MATLAB® returns ib as the connection to the IB Trader Workstation with the Interactive Brokers® ActiveX® object, the local host, and the port number that you choose.

Create IB Trader Workstation IContract Objects

Create the IB Trader Workstation IContract object ibContract1. Here, this object describes the first call option in the calendar spread. Create an IContract object with these property values:

  • Google symbol.

  • Stock option.

  • Expiry date is August 2014.

  • Strike price is $535.00.

  • Call option.

  • Number of shares is 100.

  • Aggregate exchange.

  • Primary exchange

  • USD currency.

Here, EX is a sample primary exchange name. Substitute your primary exchange name in ibContract1.primaryExchange.

ibContract1 = ib.Handle.createContract;
ibContract1.symbol = 'GOOG';
ibContract1.secType = 'OPT';
ibContract1.expiry = '201408';
ibContract1.strike = 535;
ibContract1.right = 'C';
ibContract1.multiplier = '100';
ibContract1.exchange = 'SMART';
ibContract1.primaryExchange = 'EX';
ibContract1.currency = 'USD';

Request contract details for ibContract1.

[cd1,ibReqID1] = contractdetails(ib,ibContract1);

cd1 returns the contract details data for ibContract1. ibReqID1 returns the request identifier for this contract details request.

Create the IB Trader Workstation IContract object ibContract2. Here, this object describes the second call option in the calendar spread. Create an IContract object with these property values:

  • Google symbol.

  • Stock option.

  • Expiry date is September 2014.

  • Strike price is $535.00.

  • Call option.

  • Number of shares is 100.

  • Aggregate exchange.

  • Primary exchange

  • USD currency.

Here, EX is a sample primary exchange name. Substitute your primary exchange name in ibContract2.primaryExchange.

ibContract2 = ib.Handle.createContract;
ibContract2.symbol = 'GOOG';
ibContract2.secType = 'OPT';
ibContract2.expiry = '201409';
ibContract2.strike = 535;
ibContract2.right = 'C';
ibContract2.multiplier = '100';
ibContract2.exchange = 'SMART';
ibContract2.primaryExchange = 'EX';
ibContract2.currency = 'USD';

Request contract details for ibContract2.

[cd2,ibReqID2] = contractdetails(ib,ibContract2);

cd2 returns the contract details data for ibContract2. ibReqID2 returns the request identifier for this contract details request.

Create IB Trader Workstation IComboLegList Object

To define the legs of the combination order, create the IB Trader Workstation IComboLegList object comboLegs.

comboLegs = ib.Handle.createComboLegList;

Here, this combination order has two legs. Add the first leg to comboLegs. The first leg contains these property values:

  • IB Trader Workstation contract identifier for the first contract.

  • One-to-one leg ratio.

  • Sell the call option.

  • Aggregate exchange.

  • Identify an open or close order based on the parent security.

  • IB Trader Workstation routes the order without a designated broker.

  • Blank designated broker.

ibLeg1 = comboLegs.Add;
ibLeg1.conId = cd1.summary.conId;
ibLeg1.ratio = 1;
ibLeg1.action = 'SELL';
ibLeg1.exchange = 'SMART';
ibLeg1.openClose = 0;
ibLeg1.shortSaleSlot = 0;
ibLeg1.designatedLocation = '';

Add the second leg to comboLegs. The second leg contains these property values:

  • IB Trader Workstation contract identifier for the second contract.

  • One-to-one leg ratio.

  • Buy the call option.

  • Aggregate exchange.

  • Identify an open or close order based on the parent security.

  • IB Trader Workstation routes the order without a designated broker.

  • Blank designated broker.

ibLeg2 = comboLegs.Add;
ibLeg2.conId = cd2.summary.conId;
ibLeg2.ratio = 1;
ibLeg2.action = 'BUY';
ibLeg2.exchange = 'SMART';
ibLeg2.openClose = 0;
ibLeg2.shortSaleSlot = 0;
ibLeg2.designatedLocation = '';

Create the Interactive Brokers Combination Order

Create the IB Trader Workstation IContract object orderContract for the combination order. Create an IContract object with these property values:

  • Google symbol

  • Combination order type BAG

  • Aggregate exchange

  • Primary exchange

  • USD currency

  • IB Trader Workstation IComboLegList object comboLegs

Here, EX is a sample primary exchange name. Substitute your primary exchange name in orderContract.primaryExchange.

orderContract = ib.Handle.createContract;
orderContract.symbol = 'GOOG';
orderContract.secType = 'BAG';
orderContract.exchange = 'SMART';
orderContract.primaryExchange = 'EX';
orderContract.currency = 'USD';
orderContract.comboLegs = comboLegs;

Create the IB Trader Workstation IOrder object ibOrder. Here, the combination order is a market order to buy one combination of the two legs.

ibOrder = ib.Handle.createOrder;
ibOrder.action = 'BUY';
ibOrder.totalQuantity = 1;
ibOrder.orderType = 'MKT';

Request the next valid order identification number id using orderid.

id = orderid(ib);

Execute the combination order ibOrder using these arguments:

  • IB Trader Workstation connection ib

  • Combination order IContract object orderContract

  • IB Trader Workstation IOrder object ibOrder

  • Order identifier id

  • Sample event handler ibExampleEventHandler

d = createOrder(ib,orderContract,ibOrder,id,@ibExampleEventHandler)
d =

     768413.00

d returns the unique order identifier for this combination order.

Close the Connection

Close the IB Trader Workstation connection ib.

close(ib)

See Also

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