Multi-leg (Level 3) Options are now available in Trading API and dashboard in Paper 🎉

With Level 3 options trading, you can trade multi-leg strategies like: straddles, strangles, iron butterflies, iron condors, and spreads to capitalize on specific market volatility, range-bound price movements, and directional trends.
This may help traders:

1. Increase efficiency by combining multiple options contracts into one single trade.
2. Enhance risk management by ensuring all parts of their strategy are executed simultaneously– protecting traders from partial fills and market movement.

📔 Documentation

• Introduce an Multi-leg (Level 3) Options Trading Guide
• Learn about the differences between an iron condor and iron butterfly

<> API Reference

• Place Multi-leg Orders: Submit multi-leg orders via the POST /orders endpoint, where you’ll also find examples.
• Use Our SDKs: Get started quickly with alpacahq/alpaca-py or alpacahq/alpaca-trade-api-go .

Added a sentence “ On all orders (regardless of commission type), the commission charged will be prorated on each execution if the order has multiple executions. For instance, if 10% of the order is filled on one execution then the commission on that execution will be 10% of the total commission.”

The old announcements endpoint has been deprecated in favour of the more recent corporate actions endpoint. The new endpoint offers more structured response (different schema for each corporate action type) and better overall data quality.

The version of the new endpoint has been increased from v1beta1 to v1. This means that we now promise backward compatibility guarantee for the endpoint: we will not introduce breaking changes. The previous v1beta1 version can still be used, so no migration is required if you've already been using the endpoint.

<> API Reference

Activities API

• The GET /activities response payload now includes a new optional field activity_sub_type. This field provides a more detailed classification, in addition to the existing activity_type field.
• A new entry_type, OPCA (Options Corporate Action), has been introduced to improve the classification and reporting of options corporate action activities.
• For further details, refer to the Activities API documentation:
  • Activities API - Trading
  • Activities API - Broker

Added a sentence “Please note: On orders to sell if the commission input will be more than the principal of the transaction then the principal amount of the transaction (net of SEC REG and FINRA TAF fees) will be charged as commission and not the amount specified in the order.”

📔 Documentation

You can follow the documentation in the Broker API Trading Page.

Fractional USD Stop & Stop Limit Orders

You’re now able to trade fractional assets using Stop & Stop Limit Orders to manage your risk 🚀

Here’s what you can do today:

• Submit Stop & Stop Limit Orders with fractional quantities
• Submit Stop & Stop Limit Orders with notional amounts

📔Documentation

You can follow the documentation in the Fractional Trading Page

<> API Reference

Follow the existing API Reference to try submitting a Fractional Stop or Stop Limit Order

• Trading API
• Broker API

LCT Stop, Stop Limit & Limit with Extended Hours Orders

You’re now able to trade stocks using Stop, Stop Limit and Limit with Extended Hours Orders in your local currency and in you local timezone 💴 💶

Alpaca currently supports LCT trading for Market, Limit, Stop & Stop Limit Orders with a time in force=Day, accommodating both fractional quantities and notional values.

Moreover, we support Limit Orders with fractional shares trading not only during standard market hours, but extending into pre-market (4:00 a.m. - 9:30 a.m. ET) and post-market (4:00 p.m. - 8:00 p.m. ET) hours, offering global investors the ability to trade during the full extended hours session.

Here’s what you can do today:

• Submit Limit Orders with fractional quantities or notional amount in local currency
• Submit Limit Orders with fractional quantities or notional amount in local currency within extended hours session
• Submit Stop Orders with fractional quantities or notional amount in local currency
• Submit Stop Limit Orders with fractional quantities or notional amount in local currency

📔Documentation

You can follow the documentation in the LCT Trading Page

Examples can be found in the Submit Order Section

<> API Reference

Follow the existing API Reference to try submitting a LCT Stop, Stop Limit or Limit with Extended Hours Order

• Broker API

Options Trading 🎉

You’re now able to trade options in your paper account!

Here’s what you can do today:

• Develop and test your trading algorithms so they’re ready for live.
• Trade Level 1 and Level 2 options with Level 3 coming soon for US-listed equities.

📔 Documentation

• Introduce an Options Trading Guide.
• Add an Options section for Market Data pricing.
• Add a Real-time Option Data Guide for options WebSocket stream.

<> API Reference

TRADING API

• Introduce a new endpoint to list options contracts.
• Introduce a new endpoint to get an options contract by ID or symbol.
• Introduce a new endpoint to exercise an options position.
• Introduce new fields in the GET Account response object
  • options_buying_power
  • options_approved_level
  • options_trading_level
• Introduce a new field in GET Account Configurations and PATCH Account Configurations
  • max_options_trading_level
• Updated fields descriptions in Create Order Body to describe allowed values for an options order.

BROKER API

• Introduce a new endpoint to list options contracts.
• Introduce a new endpoint to get an options contract by ID or symbol.
• Introduce a new endpoint to exercise an options position.
• Introduce new fields in the GET Trading Account response object
  • options_buying_power
  • options_approved_level
  • options_trading_level
• Introduce a new field in the PATCH Account Configurations.
  • max_options_trading_level
• Updated fields descriptions in Create Order Body to describe allowed values for an options order.

MARKET DATA API

• Introduce a new endpoint to retrieve latest quotes.
• Introduce a new endpoint to retrieve latest trades.
• Introduce a new endpoint to retrieve latest snapshot.
• Introduce a new endpoint to retrieve historical bars.
• Introduce a new endpoint to retrieve historical trades.
• Introduce a new endpoint to retrieve an option chain.
• Introduce a new endpoint to retrieve the available exchange codes.