You can place market orders or limit orders, where the limit price refers to the net price of the entire combo (which can be positive, negative, or zero).
Buy order: Buys the long legs and sells the short legs
Sell order: Sells the long legs and buys the short legs
Example:
If you select this call spread:
Buy – 1 - BTC-16MAY25-100000-C
Sell – 1 - BTC-16MAY25-105000-C]te
When you buy this combo: You buy the 100k call and sell the 105k call
When you sell this combo: You sell the 100k call and buy the 105k call
For market orders, our system crosses both outright books to ensure the best possible execution at current market prices.
For limit orders, the matching engine immediately attempts to execute your order by crossing the outright books up to your specified price limit. If your price cannot be achieved with current market conditions, the order is cancelled immediately. No actual orders remain open or are placed in any order books.