Charles Schwab
Trade stocks and options, including spreads up to 4 legs, at Charles Schwab. Live accounts only, connected through Schwab's own sign-in.
Test on Nyria Paper first. The Schwab setup guide has every step to connect.
Order types
Nyria sends Schwab market and limit orders, for entries and exits. A spread goes as one order for all its legs: at a limit, it's priced as a net debit or credit. Nyria doesn't place stop or stop-limit orders. Exits come from exit alerts.
The strategy's Duration goes to Schwab as set: Day, Good till canceled or Fill or kill.
Margin
Schwab sets the margin and buying power rules. Leave room for exits as well as entries: closing a credit spread costs money.
Limitations
- Stocks in whole shares only. Nyria enters whole shares, so Schwab Stock Slices are not used for entries. If your account holds a fractional position, an exit closes the exact quantity held
- Options in whole contracts only
Troubleshooting
"Invalid option symbol"
Schwab doesn't list that contract. Open the option chain at Schwab and check the strike exists for that expiration.
"Account not approved for options"
Schwab hasn't approved the account for this kind of option trade. Ask Schwab for the options level the trade needs. Spreads need a higher level than buying calls or puts.