Types of orders in options

Apart from orders mentioned here, there are other types of orders in options.

Spread orders
Here there is simultaneous purchase and sale of equal number of puts or calls having the same underlying issue but different series. Spread order can be market or limit order. Limit orders are entered at the difference between the buy leg and the sell leg of the trade. If the buy side has greater value, the price will be a net debit price. If the sell side has greater value, the order will be entered with a net credit price.

Straddle orders
Here there is simultaneous purchase or sale of equal number of puts and calls having the same underlying issue but same series.

Difference between spread and straddle is clear in terms of and & or.

Combination orders
It is variation of straddle order but is composed of different series like spread orders.