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Order execution

Entering, Adjusting and Exit positions in Options Trading are integral part of the trading workflow. MesoLive supports these operations in a flexible way that can accommodate different strategies and broker requirements.

We can group these operations into two main categories:

  • Entry related: New Position, Add Legs Adjustment, Move Leg Adjustment
  • Exit related: Liquidate Position, Remove Legs Adjustment

The Portal prepares orders, but execution remains human-in-the-loop.

Trade automation

Trade automation is possible using the MesoLive API, which mirrors the web interface’s functionality and extends it with order management capabilities. MesoLive API is currently available for FundPro customers.

Workflow​

Both the entry and exit operations follow the same pattern:

  1. Define groups: assign each leg to an order group (combo).
  2. Execute: send each group to your broker (or enter fills in Paper Trading).

This separation is required as not all combos are tradable by each broker. Please consult with your brokerage's combo order guidelines and adjust your groups accordingly.

1) Define groups​

  • Each group id (LegGroupId in MesoSim) represents a combo order you intend to place.
  • Brokers have different combo limitations; if a group is rejected, split it into smaller groups and retry.

2) Execute​

For each group, you typically choose:

  • Order type: Market / Limit / Stop / StopLimit
  • Time-in-force: DAY or GTC
  • Prices: required for Limit/Stop/StopLimit orders

For price-based orders, the UI provides quick actions based on live quotes to prefill the group price when you click the respective Bid / Mid / Ask price. After filling out the price you will be informed about the resulting PnL for exit orders.

Broker-specific behavior​

IBKR - TWS​

  • Send to TWS places the order into Trader Workstation.
  • You must review and click Transmit in TWS to send it to the market.

TastyTrade​

  • Send to Tasty places the order via the Agent’s TastyTrade integration.
  • Treat it as a live broker order after submission
  • You can use the "Replace Order" functionality of TastyTrade client to re-price your order

Paper Trading accounts​

  • Paper Trade lets you specify fill prices and records fills in MesoLive without sending broker orders.
  • If you place orders manually in ThinkorSwim, use the ToS Order action to copy a ThinkorSwim-formatted order string: Schwab / Thinkorswim.

Marker legs (advanced)​

Some strategies use marker legs (non-tradeable legs used for modeling/tracking). Marker-only order groups are executed locally (no broker order is sent) and the button text may show actions like Create Position or Close Position depending on the workflow.