Orders

Placing an order

from decimal import Decimal
from tastytrade import Account
from tastytrade.instruments import Equity
from tastytrade.order import *

account = Account.get_account(session, '5WX01234')
symbol = Equity.get_equity(session, 'USO')
leg = symbol.build_leg(Decimal('5'), OrderAction.BUY_TO_OPEN)  # buy to open 5 shares

order = NewOrder(
    time_in_force=OrderTimeInForce.DAY,
    order_type=OrderType.LIMIT,
    legs=[leg],  # you can have multiple legs in an order
    price=Decimal('-10')  # limit price, $10/share debit for a total value of $50
)
response = account.place_order(session, order, dry_run=True)  # a test order
print(response)

>>> PlacedOrderResponse(buying_power_effect=BuyingPowerEffect(change_in_margin_requirement=Decimal('125.0'), change_in_margin_requirement_effect=<PriceEffect.DEBIT: 'Debit'>, change_in_buying_power=Decimal('125.004'), change_in_buying_power_effect=<PriceEffect.DEBIT: 'Debit'>, current_buying_power=Decimal('1000.0'), current_buying_power_effect=<PriceEffect.CREDIT: 'Credit'>, new_buying_power=Decimal('874.996'), new_buying_power_effect=<PriceEffect.CREDIT: 'Credit'>, isolated_order_margin_requirement=Decimal('125.0'), isolated_order_margin_requirement_effect=<PriceEffect.DEBIT: 'Debit'>, is_spread=False, impact=Decimal('125.004'), effect=<PriceEffect.DEBIT: 'Debit'>), fee_calculation=FeeCalculation(regulatory_fees=Decimal('0.0'), regulatory_fees_effect=<PriceEffect.NONE: 'None'>, clearing_fees=Decimal('0.004'), clearing_fees_effect=<PriceEffect.DEBIT: 'Debit'>, commission=Decimal('0.0'), commission_effect=<PriceEffect.NONE: 'None'>, proprietary_index_option_fees=Decimal('0.0'), proprietary_index_option_fees_effect=<PriceEffect.NONE: 'None'>, total_fees=Decimal('0.004'), total_fees_effect=<PriceEffect.DEBIT: 'Debit'>), order=PlacedOrder(account_number='5WV69754', time_in_force=<OrderTimeInForce.DAY: 'Day'>, order_type=<OrderType.LIMIT: 'Limit'>, size='5', underlying_symbol='USO', underlying_instrument_type=<InstrumentType.EQUITY: 'Equity'>, status=<OrderStatus.RECEIVED: 'Received'>, cancellable=True, editable=True, edited=False, updated_at=datetime.datetime(1970, 1, 1, 0, 0, tzinfo=datetime.timezone.utc), legs=[Leg(instrument_type=<InstrumentType.EQUITY: 'Equity'>, symbol='USO', action=<OrderAction.BUY_TO_OPEN: 'Buy to Open'>, quantity=Decimal('5'), remaining_quantity=Decimal('5'), fills=[])], id=None, price=Decimal('50.0'), price_effect=<PriceEffect.DEBIT: 'Debit'>, gtc_date=None, value=None, value_effect=None, stop_trigger=None, contingent_status=None, confirmation_status=None, cancelled_at=None, cancel_user_id=None, cancel_username=None, replacing_order_id=None, replaces_order_id=None, in_flight_at=None, live_at=None, received_at=None, reject_reason=None, user_id=None, username=None, terminal_at=None, complex_order_id=None, complex_order_tag=None, preflight_id=None, order_rule=None), complex_order=None, warnings=[Message(code='tif_next_valid_sesssion', message='Your order will begin working during next valid session.', preflight_id=None)], errors=None)

Notice the use of the dry_run parameter in the call to place_order. This is used to calculate the effects that an order would have on the account’s buying power and the fees that would be charged without actually placing the order. This is typically used to provide an order confirmation screen before sending the order. To send the order, pass dry_run=False, and the response will be populated with a PlacedOrderResponse, which contains information about the order and account. Also, rather than using an explicit credit/debit toggle like the Tastytrade platform, the SDK simply assumes negative numbers are debits and positive ones are credits.

Managing orders

Once we’ve placed an order, it’s often necessary to modify or cancel the order for a variety of reasons. Thankfully, this is easy and handled through the Account object:

previous_order.price = Decimal('-10.05')  # let's pay more to get a fill!
response = account.replace_order(session, previous_response.order.id, previous_order)

Cancelling an order is similar:

account.delete_order(session, placed_order.id)

Placed orders are assigned a status, like “Received”, “Cancelled”, or “Filled”. To watch for status changes in real time, you can use the Account Streamer. To get current order status, you can just call get_live_orders. (The name is somewhat misleading! It returns not only live orders, but also cancelled and filled ones over the past 24 hours.)

orders = account.get_live_orders(session)
print(orders)

>>> [PlacedOrder(account_number='5WX01234', time_in_force=<OrderTimeInForce.DAY: 'Day'>, order_type=<OrderType.LIMIT: 'Limit'>, underlying_symbol='SPY', underlying_instrument_type=<InstrumentType.EQUITY: 'Equity'>, status=<OrderStatus.CANCELLED: 'Cancelled'>, cancellable=False, editable=False, edited=False, updated_at=datetime.datetime(2024, 2, 6, 0, 2, 56, 559000, tzinfo=datetime.timezone.utc), legs=[Leg(instrument_type=<InstrumentType.EQUITY: 'Equity'>, symbol='SPY', action=<OrderAction.BUY_TO_OPEN: 'Buy to Open'>, quantity=Decimal('1'), remaining_quantity=Decimal('1'), fills=[])], size='1', id='306731648', price=Decimal('40.0'), price_effect=<PriceEffect.DEBIT: 'Debit'>, gtc_date=None, value=None, value_effect=None, stop_trigger=None, contingent_status=None, confirmation_status=None, cancelled_at=datetime.datetime(2024, 2, 6, 0, 2, 56, 548000, tzinfo=datetime.timezone.utc), cancel_user_id=None, cancel_username=None, replacing_order_id=None, replaces_order_id=None, in_flight_at=None, live_at=None, received_at=datetime.datetime(2024, 2, 6, 0, 2, 55, 347000, tzinfo=datetime.timezone.utc), reject_reason=None, user_id=None, username=None, terminal_at=datetime.datetime(2024, 2, 6, 0, 2, 56, 548000, tzinfo=datetime.timezone.utc), complex_order_id=None, complex_order_tag=None, preflight_id=None, order_rule=None), PlacedOrder(account_number='5WX01234', time_in_force=<OrderTimeInForce.DAY: 'Day'>, order_type=<OrderType.LIMIT: 'Limit'>, underlying_symbol='SPY', underlying_instrument_type=<InstrumentType.EQUITY: 'Equity'>, status=<OrderStatus.CANCELLED: 'Cancelled'>, cancellable=False, editable=False, edited=True, updated_at=datetime.datetime(2024, 2, 6, 0, 2, 55, 362000, tzinfo=datetime.timezone.utc), legs=[Leg(instrument_type=<InstrumentType.EQUITY: 'Equity'>, symbol='SPY', action=<OrderAction.BUY_TO_OPEN: 'Buy to Open'>, quantity=Decimal('1'), remaining_quantity=Decimal('1'), fills=[])], size='1', id='306731647', price=Decimal('42.0'), price_effect=<PriceEffect.DEBIT: 'Debit'>, gtc_date=None, value=None, value_effect=None, stop_trigger=None, contingent_status=None, confirmation_status=None, cancelled_at=datetime.datetime(2024, 2, 6, 0, 2, 55, 341000, tzinfo=datetime.timezone.utc), cancel_user_id=None, cancel_username=None, replacing_order_id=None, replaces_order_id=None, in_flight_at=None, live_at=None, received_at=datetime.datetime(2024, 2, 6, 0, 2, 54, 781000, tzinfo=datetime.timezone.utc), reject_reason=None, user_id=None, username=None, terminal_at=datetime.datetime(2024, 2, 6, 0, 2, 55, 341000, tzinfo=datetime.timezone.utc), complex_order_id=None, complex_order_tag=None, preflight_id=None, order_rule=None), PlacedOrder(account_number='5WX01234', time_in_force=<OrderTimeInForce.DAY: 'Day'>, order_type=<OrderType.LIMIT: 'Limit'>, underlying_symbol='SPY', underlying_instrument_type=<InstrumentType.EQUITY: 'Equity'>, status=<OrderStatus.CANCELLED: 'Cancelled'>, cancellable=False, editable=False, edited=False, updated_at=datetime.datetime(2024, 2, 6, 0, 2, 54, 433000, tzinfo=datetime.timezone.utc), legs=[Leg(instrument_type=<InstrumentType.EQUITY: 'Equity'>, symbol='SPY', action=<OrderAction.BUY_TO_OPEN: 'Buy to Open'>, quantity=Decimal('1'), remaining_quantity=Decimal('1'), fills=[])], size='1', id='306731645', price=Decimal('42.0'), price_effect=<PriceEffect.DEBIT: 'Debit'>, gtc_date=None, value=None, value_effect=None, stop_trigger=None, contingent_status=None, confirmation_status=None, cancelled_at=datetime.datetime(2024, 2, 6, 0, 2, 54, 422000, tzinfo=datetime.timezone.utc), cancel_user_id=None, cancel_username=None, replacing_order_id=None, replaces_order_id=None, in_flight_at=None, live_at=None, received_at=datetime.datetime(2024, 2, 6, 0, 2, 53, 203000, tzinfo=datetime.timezone.utc), reject_reason=None, user_id=None, username=None, terminal_at=datetime.datetime(2024, 2, 6, 0, 2, 54, 422000, tzinfo=datetime.timezone.utc), complex_order_id=None, complex_order_tag=None, preflight_id=None, order_rule=None), PlacedOrder(account_number='5WX01234', time_in_force=<OrderTimeInForce.DAY: 'Day'>, order_type=<OrderType.LIMIT: 'Limit'>, underlying_symbol='SPY', underlying_instrument_type=<InstrumentType.EQUITY: 'Equity'>, status=<OrderStatus.CANCELLED: 'Cancelled'>, cancellable=False, editable=False, edited=False, updated_at=datetime.datetime(2024, 2, 5, 23, 46, 44, 844000, tzinfo=datetime.timezone.utc), legs=[Leg(instrument_type=<InstrumentType.EQUITY: 'Equity'>, symbol='SPY', action=<OrderAction.BUY_TO_OPEN: 'Buy to Open'>, quantity=Decimal('1'), remaining_quantity=Decimal('1'), fills=[])], size='1', id='306731381', price=Decimal('40.0'), price_effect=<PriceEffect.DEBIT: 'Debit'>, gtc_date=None, value=None, value_effect=None, stop_trigger=None, contingent_status=None, confirmation_status=None, cancelled_at=datetime.datetime(2024, 2, 5, 23, 46, 44, 833000, tzinfo=datetime.timezone.utc), cancel_user_id=None, cancel_username=None, replacing_order_id=None, replaces_order_id=None, in_flight_at=None, live_at=None, received_at=datetime.datetime(2024, 2, 5, 23, 46, 43, 150000, tzinfo=datetime.timezone.utc), reject_reason=None, user_id=None, username=None, terminal_at=datetime.datetime(2024, 2, 5, 23, 46, 44, 833000, tzinfo=datetime.timezone.utc), complex_order_id=None, complex_order_tag=None, preflight_id=None, order_rule=None), PlacedOrder(account_number='5WX01234', time_in_force=<OrderTimeInForce.DAY: 'Day'>, order_type=<OrderType.LIMIT: 'Limit'>, underlying_symbol='SPY', underlying_instrument_type=<InstrumentType.EQUITY: 'Equity'>, status=<OrderStatus.CANCELLED: 'Cancelled'>, cancellable=False, editable=False, edited=True, updated_at=datetime.datetime(2024, 2, 5, 23, 46, 43, 183000, tzinfo=datetime.timezone.utc), legs=[Leg(instrument_type=<InstrumentType.EQUITY: 'Equity'>, symbol='SPY', action=<OrderAction.BUY_TO_OPEN: 'Buy to Open'>, quantity=Decimal('1'), remaining_quantity=Decimal('1'), fills=[])], size='1', id='306731380', price=Decimal('42.0'), price_effect=<PriceEffect.DEBIT: 'Debit'>, gtc_date=None, value=None, value_effect=None, stop_trigger=None, contingent_status=None, confirmation_status=None, cancelled_at=datetime.datetime(2024, 2, 5, 23, 46, 43, 145000, tzinfo=datetime.timezone.utc), cancel_user_id=None, cancel_username=None, replacing_order_id=None, replaces_order_id=None, in_flight_at=None, live_at=None, received_at=datetime.datetime(2024, 2, 5, 23, 46, 41, 647000, tzinfo=datetime.timezone.utc), reject_reason=None, user_id=None, username=None, terminal_at=datetime.datetime(2024, 2, 5, 23, 46, 43, 145000, tzinfo=datetime.timezone.utc), complex_order_id=None, complex_order_tag=None, preflight_id=None, order_rule=None)]

For less recent orders, we can get the full order history with get_order_history.

Complex Orders

Tastytrade supports two kinds of complex orders, “OCO” and “OTOCO”, which are explained here.

To create an OTOCO order, you need an entry point order, a stop loss order, and a profit-taking order:

from decimal import Decimal
from tastytrade.instruments import Equity
from tastytrade.order import *

symbol = Equity.get_equity(session, 'AAPL')
opening = symbol.build_leg(Decimal(1), OrderAction.BUY_TO_OPEN) # buy to open 1 share
closing = symbol.build_leg(Decimal(1), OrderAction.SELL_TO_CLOSE) # sell to close 1 share

otoco = NewComplexOrder(
    trigger_order=NewOrder(
        time_in_force=OrderTimeInForce.DAY,
        order_type=OrderType.LIMIT,
        legs=[opening],
        price=Decimal('-180')  # open for $180 debit
    ),
    orders=[
        NewOrder(
            time_in_force=OrderTimeInForce.GTC,
            order_type=OrderType.LIMIT,
            legs=[closing],
            price=Decimal('200')  # take profits
        ),
        NewOrder(
            time_in_force=OrderTimeInForce.GTC,
            order_type=OrderType.STOP,
            legs=[closing],
            stop_trigger=Decimal('160')  # stop loss
        )
    ]
)
resp = account.place_complex_order(session, otoco, dry_run=False)

An OCO order is similar, but has no trigger order. It’s used to add a profit-taking and a stop loss order to an existing position. Here’s an example, assuming the account already has an open position of 10 long shares of SPY:

symbol = Equity.get_equity(session, 'SPY')
closing = symbol.build_leg(Decimal(10), OrderAction.SELL_TO_CLOSE) # sell to close 10 shares

oco = NewComplexOrder(
    orders=[
        NewOrder(
            time_in_force=OrderTimeInForce.GTC,
            order_type=OrderType.LIMIT,
            legs=[closing],
            price=Decimal('4800'),  # take profits
            price_effect=PriceEffect.CREDIT
        ),
        NewOrder(
            time_in_force=OrderTimeInForce.GTC,
            order_type=OrderType.STOP,
            legs=[closing],
            stop_trigger=Decimal('4000'),  # stop loss
            price_effect=PriceEffect.CREDIT
        )
    ]
)
resp = account.place_complex_order(session, oco, dry_run=False)

Note that to cancel complex orders, you need to use the delete_complex_order function, NOT delete_order.

Notional market orders

Notional orders are slightly different from normal orders. Since the market will determine both the quantity and the price for you, you need to pass value instead of price, and pass None for the quantity parameter to build_leg.

symbol = Equity.get_equity(session, 'AAPL')
order = NewOrder(
    time_in_force=OrderTimeInForce.DAY,
    order_type=OrderType.NOTIONAL_MARKET,
    value=Decimal(-10),  # $10 debit, this will result in fractional shares
    legs=[
        symbol.build_leg(None, OrderAction.BUY_TO_OPEN),
    ]
)
resp = account.place_order(session, order, dry_run=False)