Most traders only use market and limit orders. But your broker offers time-in-force and fill conditions that control how an order is filled — and on wider, thinner options they matter more than you'd think.
The three conditions
IOC — Immediate-or-Cancel. Fill whatever is available right now at your price, and cancel the rest instantly. You might get a partial fill. Good for grabbing available liquidity without leaving a resting order hanging. FOK — Fill-or-Kill. Fill the entire order immediately or cancel all of it. No partials, no waiting. Use it when a partial position is worse than none. AON — All-or-None. Fill the full size or don't fill — but unlike FOK, it's willing to wait for the whole quantity. You avoid partials at the cost of maybe not filling for a while.
Plain limit orders can fill piecemeal. These conditions let you say “all of it, or none” — which on a thin strike is often what you actually want.
When they help
On liquid, near-the-money SPY strikes you'll rarely need them — there's enough size to fill a normal limit cleanly. They earn their keep on thinner, wider strikes, where a plain limit can fill in awkward pieces at drifting prices. FOK or AON keeps you from ending up with a half-position you didn't want; IOC lets you take what's there and move on. For fast scalping, though, the deeper fix is to trade liquid strikes in the first place, and to let your platform route the order. Also mind your time-in-force so a working order doesn't outlive the session.
Ready to put it to work?
NoVo reads the full tape and maps every dealer level live — the market intelligence no human can track by hand — then draws it on your chart as it moves, and tells you what it has seen this setup do before.
Trader · $209/mo
The cockpit.
Every dealer level living on a real charting terminal — 1-minute to weekly, fifteen years deep, your own drawings on the map, SPY/QQQ/IWM one click apart — with the hourly audit, ‘The Line’ playbooks, the three books side by side and NoVo’s written read where you trade. Analyst included.
The same dealer map drawn on crypto — gamma by strike on every book with real open interest, funding per venue, open interest, 24-hour liquidation flow and true cost to trade — plus the on-chain liquidity map across Solana, Base and Robinhood Chain. NoVo reads it too.
The live dealer map — dealer positioning, options flow, and in-house sweeps & block prints — plus a written market read every session, to your inbox, the dashboard, and the private Analyst Discord. Structure, levels, and the order-flow footprint.
NoVo is a software tool for market analysis, not financial advice. This article is general education, not investment advice. Options trading involves substantial risk of loss, up to and including your entire capital. NoVo makes no guarantee of profit, win rate, or performance, and past results do not predict future outcomes. You are responsible for your own broker account, configuration, and trading decisions.
The member portal — delayed dealer levels with the gamma flip and the expected-move band on SPY, QQQ and IWM, plus sectors, movers and the week’s catalysts. NoVo’s Mid-Day Tape Review every trading day and the Week Ahead on Sundays. And the NoVo Discord: live discussion and NoVo’s daily dealer-map read.