Ibkr

IBKR Options Trading

All commands run as ibkr <command>. If ibkr is not on PATH, install it (requires Python 3.11+ and uv):

git clone https://github.com/baileywickham/ibkr
cd ibkr && uv tool install --editable .

Output is JSON. Exit codes: 0 ok, 2 gateway unreachable, 3 validation error, 4 token rejected, 5 account error, 6 delayed-data blocked.

Mode: paper account by default (Gateway port 4002). Add --live (port 4001) ONLY when the user explicitly says to trade the live account.

Commands

ibkr status                          # connection + account summary
ibkr positions | orders | trades
ibkr chain AAPL                      # expirations
ibkr chain AAPL --expiry 2026-07-17 --strikes 8   # strikes around spot, quotes + Greeks
ibkr quote AAPL                      # stock quote
ibkr quote AAPL --expiry 2026-07-17 --strike 200 --right C   # option quote
ibkr place --symbol AAPL --expiry 2026-07-17 --strike 200 --right C \
           --side BUY --qty 1 --limit 3.50        # PREVIEW (never trades)
ibkr place ... --execute TOKEN                    # place previewed order
ibkr place-vertical --symbol AAPL --expiry 2026-07-17 --right C --side BUY \
           --long-strike 200 --short-strike 205 --qty 1 --limit 1.80
ibkr stock --symbol AAPL --side BUY --qty 10 --limit 250     # shares (preview/execute)
ibkr cancel ORDER_ID
ibkr close 355C              # PREVIEW closing one position (match by symbol)
ibkr close --all            # PREVIEW closing every position
ibkr close 355C --execute TOKEN          # place the closing order(s)
ibkr close --all --limit 0.02            # override the closing limit price

Limit orders only; market orders are intentionally not implemented. For verticals, --limit is the net debit (BUY) or net credit (SELL), always positive.

close builds an offsetting order priced marketably at the current bid/ask (SELL to close a long, BUY to close a short). A long/short option pair on one underlying is recognized as a spread and closed as a SINGLE net-priced combo — so --limit is the net price for the whole spread, not a per-leg price (a per-leg limit would make the buy-to-close leg marketable and leg you into a naked option). Other multi-leg matches refuse --limit; narrow the query to one leg or use place-vertical --side SELL for a net-priced combo close. There is no native close-position call in the IBKR API — this replicates the TWS "Close" button. Same preview→confirm→execute flow as place. If a position has no bid/ask quote (e.g. a deep-OTM contract whose closing bid is negative), pass --limit. The preview prints each position, its closing action, quantity, and limit, plus a token; nothing is placed until you re-run with --execute TOKEN.

Confirmation protocol (NON-NEGOTIABLE for live mode)

1. Run the place/place-vertical command WITHOUT --execute. This is a preview: it prints the resolved contract, current quotes, max loss/gain, and a token.
2. Show the user the preview (contract, side, qty, limit, max loss, premium).
3. LIVE MODE: wait for the user to explicitly approve THIS order in chat. Never infer approval from an earlier message, never batch approvals. Paper mode: self-confirmation is acceptable for testing.
4. Re-run the identical command with --execute TOKEN. The CLI rejects the token if any parameter changed, the preview is older than 5 minutes, or it was already used — in that case re-preview, re-confirm.

Real-money safety (read before live trading)

• Account pinning: every order pins an account. With a single-account login it's automatic; if the login has multiple accounts, set account = "U..." in ~/.ibkr-options/config.toml or orders fail with an account error (exit 5).
• Delayed-data guard: by default the tool uses delayed (~15 min) data (market_data_type = 3). A live order priced off delayed data is refused (exit 6) unless you pass --allow-delayed or set allow_delayed_live = true in config. Only suggest that opt-in when the user understands their limit prices are based on stale quotes; previews still print a DELAYED warning. For realtime, subscribe and set market_data_type = 1. Paper is never blocked.
• Rejection surfacing: a rejected order returns "rejected": true with the reason in messages (e.g. [202] Limit price too far outside of NBBO). Always check for this — a Cancelled/Inactive status means the order did NOT work.
• Limit orders only, and prices must respect IBKR tick rules ($0.05 ≥ $3.00, else $0.01) or IBKR rejects them.

Reads vs writes (all-account vs this-CLI)

One consistent rule: reads are account-wide, writes act only on orders this CLI placed.

• positions and orders show everything the account holds, regardless of where it was placed. Each open order carries client_id (0 = placed via web Portal / TWS / mobile) and perm_id (stable id to cross-reference with the Portal).
• cancel only works on orders this CLI placed (nonzero order_id). An order with client_id: 0 is read-only here — cancel it where it was placed. So before a close, check orders: if a resting exit already exists there, closing again would double up.
• trades is the exception the TWS API forces: fills are session-scoped, not account-wide. For full account trade history use the Portal or Flex Queries.

Operational notes

• If you get gateway_unreachable: ask the user to launch IB Gateway (on macOS something like open -a "IB Gateway 10.45" — the app name carries its version) and log in (paper or live to match the mode). Do not attempt to enter credentials yourself — login is the user's job.
• First-time Gateway setup: in Configure → Settings → API → Settings, "Enable ActiveX and Socket Clients" must be on and "Read-Only API" must be OFF for order placement. Socket port: 4002 paper / 4001 live.
• "data": "delayed" in output means no realtime subscription for that instrument — quotes are 15-20 min old. Say so when showing the user numbers.
• Never provide personalized investment advice; research, data, and executing the user's decisions only.