If no support for Stop Loss, Stop Limit and Trailing Stop orders for Options, it is a serious shortcoming of the platform. This means Option trades are un-protected on the platform which is a serious risk on its usage. Please review your policy on this situation and address the concern.
@dchitnis Stop and stop-limit orders are supported for options. Trailing stop orders are not. I do however notice these order types are not available in the dashboard. I’ll check with the frontend UI team and get that fixed. In any case you can submit stop orders using the API.
There is one requirement, which is also a requirement for equity stop orders. The stop price must be better than the current price. In other words you cannot submit a stop order which would immediately be triggered.
This can create an issue with option contracts that haven’t actually traded yet. Why? The system tries to look up a price but does not find one so the order gets rejected. In live trading this probably would never happen if one is submitting a stop order to close a position. There would at least be a price for the contract when it was opened. However, in paper trading this could happen. In this case the order will be rejected with a rather obtuse reason “trade not found”. Just something to be aware of in paper trading.
Another thing to note is that the trigger mechanism for equity option orders depends upon the execution venue the order is routed to. Each venue has slightly different rules for what will trigger an order. While all equity orders trigger on trades, because options often have very little trading activity, some venues incorporate quote-based triggers.