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Minimize Impact Algo

Objective

The Minimize Impact algo lets you control your level of participation in the Average Daily Options Volume by setting a Max Percentage value, and attempts to minimize market impact by slicing the order over time to achieve a market average without going over your specified Max Percentage of Average Daily Volume.


User Inputs

  • Max Percentage of Average Daily Options Volume

Important Points

  • The max percent you define is the percent of the total daily options volume for the entire options market in the underlying.
  • Set the limit price in terms of volatility by using the VOL order type.
  • Set the Max Percentage from 1% to 50%. If left blank, the default value is 50%.
  • Available for US Equity and Index Options.

Notes:

The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.


Products Availability Routing TWS
Options US Products Smart Attribute
Non-US Products Directed Order Type
IB Algo Time in Force
IB Algo
Open Users' Guide