# Options Template

> Ready settings for an options strategy that copies a Discord or Telegram room, and how IBKR, Tradier, Charles Schwab and Robinhood differ for options.

*Source: https://tradelabs.org/docs/templates/options*

## Who it is for

This template is for traders who copy calls and puts from a Discord or Telegram room. The caller names a contract, and the strategy buys the same contract in your account. It is for single-leg options. For a trade with two or more legs, use the [Option Spreads template](/docs/templates/spreads/).

## Settings

Start from the **Copy a Discord options channel** template, then set these values. [The Strategy Editor](/docs/copy-trading/strategy-editor/) explains each setting.

| Tab | Setting | Value | Why |
| --- | --- | --- | --- |
| General | Source | Discord | The template reads calls from a Discord channel. |
| General | Channel | The room that posts the calls | The strategy reads only this channel. |
| General | Inherit trade details from message | On | The strategy buys the strike and expiration the caller named. |
| General | Direction | Both | The strategy takes calls and puts. |
| General | Ticker | ALL | The strategy trades every ticker the room calls. |
| General | Entry | Market. On Robinhood: Limit | Robinhood has no market order for options. |
| General | Entry limit price | Ask | Ask fills fastest on a buy. |
| General | Exit | Market. On Robinhood: Limit | A limit exit that does not fill leaves the position open. |
| General | Time in force | Day | An order that does not fill does not stay open to the next day. |
| Brokers | Broker | IBKR, Tradier, Charles Schwab or Robinhood | Only these four trade options. |
| Brokers | Route to account | Your options account | It shows when the broker has more than one account. |
| Sizing | How to pick the trade size | Fixed size | Every trade uses the same size. |
| Sizing | Default quantity | 1, Contracts | One contract is the smallest real trade. |
| AI | AI selling | On | The strategy acts on exit and trim calls. |
| AI | Trim selling | On, Trim size From alert | A trim sells the amount the caller posted. |
| AI | Smart contract match | On, Skip it | The strategy never sells the wrong contract. |
| AI | Memory | Normal | The AI remembers recent signals in the room. |
| Risk & exits | Stop loss | 30% | The position closes when it loses 30%. |
| Risk & exits | Take profit | 100% | The position closes when it doubles. |
| Protections | Duplicate protection | On | A repeat of a recent signal does not trade twice. |
| Protections | Double-down protection | On | The strategy does not keep adding to a contract it holds. |
| Protections | Slippage cap | 5% | A fill more than 5% from the expected price is rejected. |
| Protections | Buy same-day on the matching weekday | On | "Friday" on a Friday buys the contract that expires today. |
| Protections | Maximum trade value | 500 | No single trade spends more than $500. |
| Notifications | Send to Discord | On | Fills and errors show in your Discord channel. |
| Notifications | Broker error alerts | On | You see a broker action that fails. |

## Broker differences

| | Interactive Brokers | Tradier | Charles Schwab | Robinhood |
| --- | --- | --- | --- | --- |
| Entry order | Market or Limit | Market or Limit | Market or Limit | Limit only |
| Exit order | Market or Limit | Market or Limit | Market or Limit | Limit only |
| Limit price | Bid, Mid, Ask, From alert | Bid, Mid, Ask, From alert | Bid, Mid, Ask, From alert | Bid, Mid, Ask, From alert |
| From alert on exits | No, entries only | Yes | Yes | Yes |
| Allow extended hours | Yes | No | Yes | No |
| Stop loss and take profit | Bracket order at IBKR | Bracket order at Tradier | Orders at Schwab | The app watches the price |
| Trailing stop | A stop at IBKR that the app moves | A stop at Tradier that the app moves | A trailing stop order at Schwab | The app watches the price |
| Smart expiration detection | Yes | Yes | Yes | No |
| Double-down protection | Block, or a cap | Block, or a cap | Block only | Block only |
| Size units | Contracts, Dollars, Percent | Contracts, Dollars, Percent | Contracts, Dollars, Percent | Contracts, Dollars, Percent |

Things the editor does for you:

- **Robinhood.** The editor hides Market. A strategy that had Market becomes a Limit at the ask for entries and at the bid for exits. With **From alert**, the editor warns that Robinhood keeps option orders open until cancelled, and asks you to set a cancel timer.
- **Tradier.** The strategy name must be lowercase with hyphens, 20 characters at most. The editor formats the name as you type.
- **From alert** shows only for a Discord or Telegram source.

## Test it

Send a test signal with **Simulate** on the strategy page, then place one real trade at the smallest size. Follow [Test before you go live](/docs/copy-trading/#5-test-before-you-go-live).

## Related pages

- Instrument: [Options](/docs/reference/instruments/options/)
- Brokers: [Interactive Brokers](/docs/reference/brokers/interactive-brokers/), [Tradier](/docs/reference/brokers/tradier/), [Charles Schwab](/docs/reference/brokers/schwab/), [Robinhood](/docs/reference/brokers/robinhood/)
- Risk tools: [Trailing Stops](/docs/reference/risk-tools/trailing-stops/), [Auto Parameters](/docs/reference/risk-tools/auto-parameters/), [Protections & Guardrails](/docs/reference/risk-tools/protections/)