Accept paper MOC orders IBKR holds as PendingSubmit; stop retrying after the order window

On 2026-10-13 the 09:53 ET run placed six MOC orders and failed: the paper
account reports MOC orders as PendingSubmit until the closing auction and sent
no acknowledgement within 30 s, so confirm_orders treated them as rejected.
IBKR listed all six with permanent ids and filled them at the close, as it did
the 14 PendingSubmit orders of 2026-09-29. Every retry then stopped at "6 open
orders already exist", and after 15:45 ET at the order window, and the start
limit's 6-hour window reset at 15:50 ET, so the job restarted every 10 minutes
into the evening (42 restarts by 17:28 ET).

- confirm_orders accepts a PendingSubmit order once IBKR lists it with a
  permanent id, re-reading this client's open orders every 5 s for up to 60 s.
- rebalance --submit succeeds without sending anything when every open order
  comes from today's runs and IBKR still holds every order those runs sent;
  a missing one still fails.
- The trade unit skips starts after 15:45 ET (ExecCondition), which systemd
  does not restart.

Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>

Makefile

@@ -20,8 +20,9 @@ check:
 	$(RUN) check
 
 # On the server: probe the Gateway and restart it if it has lost IBKR's servers.
+# The trade job passes GATEWAY_ARGS=--history to require historical bars too.
 gateway:
-	sh deploy/ensure-gateway.sh
+	sh deploy/ensure-gateway.sh $(GATEWAY_ARGS)
 
 bars:
 	$(RUN) bars

deploy/ensure-gateway.sh

@@ -4,9 +4,12 @@
 # with its API port still open (2026-09-29, for 9 hours): every request times
 # out, yet java keeps running, so systemd's Restart= never fires.
 # Runs before each job (ExecStartPre=make gateway) and by hand as `make gateway`.
+# Arguments go to the probe: `--history` also requires daily bars, because the
+# historical data farm can fail while account requests work (2026-10-12).
 cd "$(dirname "$0")/.." || exit 1
 
-probe() { uv run ibkr-quant gateway; }
+PROBE_ARGS="$*"
+probe() { uv run ibkr-quant gateway $PROBE_ARGS; }
 
 probe && exit 0
 # Gateway rides out short outages by reconnecting on its own; give it a minute.

deploy/systemd/ibgateway.service

@@ -4,12 +4,8 @@ After=network-online.target
 
 [Service]
 Type=simple
-# Reach IBKR through pc's "ipads" proxy (mihomo, SOCKS5/HTTP on 7892), as
-# `proxy ipads` does in a shell. IBC drops -D lines from ibgateway.vmoptions and
-# clears JAVA_TOOL_OPTIONS, so the java launcher gets them via JDK_JAVA_OPTIONS.
-Environment="JDK_JAVA_OPTIONS=-DsocksProxyHost=127.0.0.1 -DsocksProxyPort=7892"
-Environment=http_proxy=http://127.0.0.1:7892 https_proxy=http://127.0.0.1:7892 all_proxy=http://127.0.0.1:7892
-Environment=HTTP_PROXY=http://127.0.0.1:7892 HTTPS_PROXY=http://127.0.0.1:7892 ALL_PROXY=http://127.0.0.1:7892
+# No proxy env on purpose: mihomo TUN (auto-route) transparently routes all
+# traffic by rules; IBKR domains go DEFAULT -> RES residential exit.
 ExecStart=/usr/bin/xvfb-run -a -s "-screen 0 1024x768x24" %h/ibc/gatewaystart.sh -inline
 Restart=always
 RestartSec=60

deploy/systemd/ibkr-quant-trade.service

@@ -1,17 +1,24 @@
 [Unit]
 Description=ibkr-quant daily run: today's bars, then MOC orders on rebalance sessions
 After=ibgateway.service
-# make gateway restarts a Gateway that has lost IBKR. Retries cover today's bar
-# arriving late (delayed data) and Gateway restarts; make submit refuses to
-# double-submit while orders are open.
-StartLimitIntervalSec=7200
-StartLimitBurst=6
+# make gateway restarts a Gateway that has lost IBKR or its historical data
+# farm. Retries cover today's bar arriving late (delayed data) and Gateway
+# restarts; make submit refuses to double-submit while orders are open and
+# succeeds once IBKR holds every order an earlier run sent.
+# Every 10 minutes from 09:50 ET until the 15:45 end of the order window: on
+# 2026-10-12 six retries 5 minutes apart gave up after 35 minutes while the
+# data farm was down. The start limit is a backstop; ExecCondition ends the day.
+StartLimitIntervalSec=21600
+StartLimitBurst=34
 
 [Service]
 Type=oneshot
 WorkingDirectory=%h/projects/ibkr-quant
 Environment=PATH=%h/.local/bin:/usr/local/bin:/usr/bin:/bin
-ExecStartPre=/usr/bin/make gateway
+# Past 15:45 ET make submit cannot send orders; a failed condition skips the
+# start without counting as a failure, so it is not restarted.
+ExecCondition=/bin/sh -c 'test "$(TZ=America/New_York date +%%H%%M)" -lt 1545'
+ExecStartPre=/usr/bin/make gateway GATEWAY_ARGS=--history
 ExecStart=/usr/bin/make bars submit
 Restart=on-failure
-RestartSec=300
+RestartSec=600

src/ibkr_quant/broker.py

@@ -4,7 +4,7 @@ from dataclasses import dataclass
 from zoneinfo import ZoneInfo
 
 import pandas as pd
-from ib_async import IB, Contract, LimitOrder, Order, Stock, Trade
+from ib_async import IB, Contract, LimitOrder, Order, OrderStatus, Stock, Trade
 
 from .config import IBConfig
 
@@ -170,6 +170,40 @@ class Broker:
         order.orderRef = ref
         return self.ib.placeOrder(contract, order)
 
+    async def confirm_orders(self, trades: list[Trade], timeout: float = 60, refresh_every: float = 5) -> None:
+        # The paper account reports MOC orders as PendingSubmit until the closing auction: on
+        # 2026-09-29 and 10-13 every order stayed PendingSubmit and the 09-29 ones all filled at
+        # the close. Such an order counts as accepted once IBKR lists it with a permanent id,
+        # which the 10-13 run never saw unprompted, so this client's open orders are re-read.
+        acknowledged = {OrderStatus.PreSubmitted, OrderStatus.Submitted, OrderStatus.Filled}
+
+        def accepted(t: Trade) -> bool:
+            status = t.orderStatus.status
+            return status in acknowledged or (status == OrderStatus.PendingSubmit and t.order.permId != 0)
+
+        loop = asyncio.get_running_loop()
+        deadline = loop.time() + timeout
+        next_refresh = loop.time() + refresh_every
+        while not all(accepted(t) or t.orderStatus.status in OrderStatus.DoneStates for t in trades):
+            remaining = deadline - loop.time()
+            if remaining <= 0:
+                break
+            if loop.time() >= next_refresh:
+                try:
+                    await asyncio.wait_for(self.ib.reqOpenOrdersAsync(), remaining)
+                except TimeoutError:
+                    break
+                next_refresh = loop.time() + refresh_every
+            await asyncio.sleep(min(0.1, remaining))
+        failed = [t for t in trades if not accepted(t)]
+        if failed:
+            details = []
+            for trade in failed:
+                errors = "; ".join(entry.message for entry in trade.log if entry.errorCode)
+                details.append(f"{trade.contract.symbol} order {trade.order.orderId}: {trade.orderStatus.status}"
+                               + (f" ({errors})" if errors else ""))
+            raise RuntimeError("orders not accepted (rejected or confirmation timed out): " + "; ".join(details))
+
     async def executions(self) -> pd.DataFrame:
         fills = await self.ib.reqExecutionsAsync()
         return pd.DataFrame(

src/ibkr_quant/cli.py

@@ -93,11 +93,22 @@ async def check(cfg: Config) -> None:
                 print("Delayed data is already requested; check market data permissions and availability in IB Gateway/TWS.")
 
 
-async def probe_gateway(cfg: Config) -> None:
+async def probe_gateway(cfg: Config, history: bool = False) -> None:
     # Broker's connect fails unless the Gateway answers positions, orders and
     # account updates, which needs a live session with IBKR's servers.
     async with Broker(dataclasses.replace(cfg.ib, client_id=cfg.ib.health_client_id)) as broker:
-        print(f"IB Gateway OK: account {broker.account}, server version {broker.ib.client.serverVersion()}")
+        status = f"account {broker.account}, server version {broker.ib.client.serverVersion()}"
+        if history:
+            # The historical data farm can fail on its own: on 2026-10-12 account requests
+            # worked while every bar request timed out for 35 minutes, until the Gateway's
+            # daily restart. Without this check `make gateway` never restarted it.
+            contracts, _ = await broker.qualify_stocks(["SPY"])
+            bars = (await broker.daily_bars(contracts, "5 D", timeout=30))[0] if contracts else None
+            if bars is None or bars.empty:
+                raise SystemExit(f"IB Gateway answers account requests ({status}) but returned no SPY bars "
+                                 "within 30 s; its historical data farm is not serving")
+            status += f", historical data OK (SPY through {bars['date'].max()})"
+        print(f"IB Gateway OK: {status}")
 
 
 async def update_bars(cfg: Config) -> None:
@@ -148,15 +159,18 @@ async def rebalance(cfg: Config, submit: bool) -> None:
 
     async with Broker(cfg.ib) as broker:
         state = await broker.account_state()
-        managed = [h for h in state.holdings if h.sec_type == "STK" and h.currency == "USD" and h.symbol in universe]
-        unmanaged_value = sum(h.market_value_usd for h in state.holdings if h not in managed)
-        investable = state.nav_usd * (1 - ex.cash_buffer) - unmanaged_value
-        weights = select_with_buffer(score, {h.symbol for h in managed}, st.top_n, st.buffer)
-        # Sized at today's open, the latest price in the bars; filled at the close.
+        # The strategy owns the whole account: every position it does not select is sold.
+        # Orders go out as SMART/USD stocks, so any other kind of position stops the run.
+        if foreign := [h.symbol for h in state.holdings if (h.sec_type, h.currency) != ("STK", "USD")]:
+            raise SystemExit(f"positions that are not USD stocks: {foreign}; close them before rebalancing")
+        investable = state.nav_usd * (1 - ex.cash_buffer)
+        weights = select_with_buffer(score, {h.symbol for h in state.holdings}, st.top_n, st.buffer)
+        # Sized at today's open, the latest price in the bars; filled at the close. A holding
+        # outside the index has no bars and takes the account's price; its exit size does not use it.
         orders = plan_orders(
             weights,
-            {h.symbol: h.quantity for h in managed},
-            opens.iloc[-1].dropna().to_dict(),
+            {h.symbol: h.quantity for h in state.holdings},
+            {h.symbol: h.market_price for h in state.holdings} | opens.iloc[-1].dropna().to_dict(),
             investable,
             max(ex.min_trade_value, ex.min_trade_fraction * state.nav_usd),
             ex.resize_band,
@@ -176,6 +190,17 @@ async def rebalance(cfg: Config, submit: bool) -> None:
             raise SystemExit(f"{now:%H:%M} ET is outside the order window {ORDER_WINDOW[0]}-{ORDER_WINDOW[1]}")
 
         if open_trades := await broker.open_trades():
+            # A run whose confirmation timed out exits non-zero and the trade service retries it;
+            # if IBKR holds every order that run sent, the session's orders are in.
+            refs = {t.order.orderRef for t in open_trades}
+            sent = [cfg.root / "runs" / ref.removeprefix("ibkr-quant ") / "orders.csv" for ref in refs]
+            if all(ref.startswith(f"ibkr-quant {now:%Y%m%d}-") for ref in refs) and all(p.exists() for p in sent):
+                sent_ids = set(pd.concat(pd.read_csv(p) for p in sent)["order_id"])
+                if missing := sent_ids - {t.order.orderId for t in open_trades}:
+                    raise SystemExit(f"today's orders {sorted(missing)} are no longer open at IBKR "
+                                     "(rejected, cancelled or filled); see `make check`")
+                print(f"{len(open_trades)} orders from {', '.join(sorted(refs))} are open at IBKR; not submitting again")
+                return
             raise SystemExit(f"{len(open_trades)} open orders already exist; cancel or let them finish first")
         contracts, unknown = await broker.qualify_stocks([o.symbol for o in orders])
         if unknown:
@@ -195,7 +220,11 @@ async def rebalance(cfg: Config, submit: bool) -> None:
             broker.place(contracts[o.symbol], o.delta, ex.order_type, limits.get(o.symbol), f"ibkr-quant {run_dir.name}")
             for o in orders
         ]
-        await asyncio.sleep(3)  # let TWS acknowledge before recording status
+        confirmation_error = None
+        try:
+            await broker.confirm_orders(trades)
+        except RuntimeError as exc:
+            confirmation_error = exc
         submitted = pd.DataFrame(
             [
                 {
@@ -213,7 +242,9 @@ async def rebalance(cfg: Config, submit: bool) -> None:
         )
         submitted.to_csv(run_dir / "orders.csv", index=False)
         print(submitted.to_string(index=False))
-        print(f"submitted {len(trades)} orders -> {run_dir}")
+        if confirmation_error:
+            raise SystemExit(f"{confirmation_error}; recorded status -> {run_dir}")
+        print(f"accepted {len(trades)} orders -> {run_dir}")
 
 
 def run_backtest(cfg: Config, top_ns: list[int], everies: list[int], capitals: list[float], fee: str) -> None:
@@ -270,7 +301,8 @@ def main() -> None:
     commands = parser.add_subparsers(dest="command", required=True)
     commands.add_parser("universe", help="download S&P 500 constituents")
     commands.add_parser("check", help="connect and show account, positions, open orders, SPY price")
-    commands.add_parser("gateway", help="exit non-zero unless IB Gateway answers account requests")
+    gateway_parser = commands.add_parser("gateway", help="exit non-zero unless IB Gateway answers account requests")
+    gateway_parser.add_argument("--history", action="store_true", help="also require SPY daily bars from the historical data farm")
     commands.add_parser("bars", help="download adjusted daily bars for the universe")
     rebalance_parser = commands.add_parser("rebalance", help="plan orders (dry run unless --submit)")
     rebalance_parser.add_argument("--submit", action="store_true")
@@ -290,7 +322,7 @@ def main() -> None:
         case "check":
             asyncio.run(check(cfg))
         case "gateway":
-            asyncio.run(probe_gateway(cfg))
+            asyncio.run(probe_gateway(cfg, args.history))
         case "bars":
             asyncio.run(update_bars(cfg))
         case "rebalance":

src/ibkr_quant/universe.py

@@ -7,7 +7,12 @@ import pandas as pd
 SP500_URL = "https://en.wikipedia.org/wiki/List_of_S%26P_500_companies"
 
 
+# Tickers Wikipedia lists differently from what IBKR carries.
+IBKR_SYMBOL_OVERRIDES = {"PSKY": "SKYD"}  # Paramount Skydance trades as SKYD/NYSE on IBKR
+
+
 def to_ib_symbol(ticker: str) -> str:
+    ticker = IBKR_SYMBOL_OVERRIDES.get(ticker, ticker)
     # IBKR writes share classes with a space: BRK.B -> "BRK B".
     return ticker.replace(".", " ")
 

tests/test_check.py

@@ -62,3 +62,24 @@ def test_check_explains_snapshot_result(monkeypatch, capsys, mode, error, price,
     assert absent not in output
     if error:
         assert f"IBKR {error[0]}: {error[1]}" in output
+
+
+@pytest.mark.parametrize("bars, ok", [(0, False), (5, True)])
+def test_gateway_probe_requires_historical_bars(monkeypatch, capsys, bars, ok):
+    import pandas as pd
+    cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+    broker = Broker(cfg.ib)
+    broker.account = "DU123"
+    frame = pd.DataFrame({"date": pd.date_range("2026-10-06", periods=bars), "symbol": "SPY", "close": 1.0})
+    monkeypatch.setattr(Broker, "__aenter__", AsyncMock(return_value=broker))
+    monkeypatch.setattr(Broker, "__aexit__", AsyncMock(return_value=None))
+    monkeypatch.setattr(cli, "Broker", lambda _: broker)
+    monkeypatch.setattr(broker.ib.client, "serverVersion", Mock(return_value=178))
+    monkeypatch.setattr(broker, "qualify_stocks", AsyncMock(return_value=({"SPY": Stock("SPY", "SMART", "USD")}, [])))
+    monkeypatch.setattr(broker, "daily_bars", AsyncMock(return_value=(frame, [] if bars else ["SPY"])))
+    if ok:
+        asyncio.run(cli.probe_gateway(cfg, history=True))
+        assert "historical data OK" in capsys.readouterr().out
+    else:
+        with pytest.raises(SystemExit, match="historical data farm"):
+            asyncio.run(cli.probe_gateway(cfg, history=True))

tests/test_order_confirmation.py

@@ -0,0 +1,166 @@
+import asyncio
+import dataclasses
+import datetime as dt
+from pathlib import Path
+from unittest.mock import AsyncMock
+
+import pandas as pd
+import pytest
+from ib_async import Order, OrderStatus, Stock, Trade, TradeLogEntry
+
+from ibkr_quant import cli
+from ibkr_quant.broker import AccountState, Broker
+from ibkr_quant.config import load_config
+
+
+def trade(status):
+    return Trade(Stock("AAA", "SMART", "USD"), Order(orderId=41, action="BUY", totalQuantity=10),
+                 OrderStatus(status=status))
+
+
+def test_confirmation_waits_for_delayed_acknowledgement():
+    async def run():
+        order = trade("PendingSubmit")
+        cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+        asyncio.get_running_loop().call_later(0.02, setattr, order.orderStatus, "status", "Submitted")
+        await Broker(cfg.ib).confirm_orders([order], timeout=0.2)
+        assert order.orderStatus.status == "Submitted"
+    asyncio.run(run())
+
+
+@pytest.mark.parametrize("status", ["PreSubmitted", "Submitted", "Filled"])
+def test_confirmation_accepts_broker_acknowledged_orders(status):
+    cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+    asyncio.run(Broker(cfg.ib).confirm_orders([trade(status)], timeout=0))
+
+
+def test_confirmation_accepts_pending_moc_orders_that_ibkr_lists():
+    # The paper account keeps MOC orders PendingSubmit until the close (2026-09-29, 10-13).
+    async def run():
+        order = trade("PendingSubmit")
+        cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+        broker = Broker(cfg.ib)
+
+        async def open_orders():
+            order.order.permId = 114178004
+            return [order]
+        broker.ib.reqOpenOrdersAsync = AsyncMock(side_effect=open_orders)
+        await broker.confirm_orders([order], timeout=1, refresh_every=0.01)
+        assert order.orderStatus.status == "PendingSubmit"
+        broker.ib.reqOpenOrdersAsync.assert_awaited()
+    asyncio.run(run())
+
+
+def test_confirmation_rejects_pending_orders_ibkr_never_lists():
+    async def run():
+        cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+        broker = Broker(cfg.ib)
+        broker.ib.reqOpenOrdersAsync = AsyncMock(return_value=[])
+        with pytest.raises(RuntimeError, match="AAA order 41: PendingSubmit"):
+            await broker.confirm_orders([trade("PendingSubmit")], timeout=0.5, refresh_every=0.01)
+        broker.ib.reqOpenOrdersAsync.assert_awaited()
+    asyncio.run(run())
+
+
+@pytest.mark.parametrize("status", ["Inactive", "Cancelled", "ApiCancelled", "PendingSubmit", "ApiPending"])
+def test_confirmation_rejects_terminal_failure_and_missing_acknowledgement(status):
+    cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+    order = trade(status)
+    order.log.append(TradeLogEntry(dt.datetime.now(), status, "insufficient margin", 201))
+    with pytest.raises(RuntimeError, match=f"AAA order 41: {status}.*insufficient margin"):
+        asyncio.run(Broker(cfg.ib).confirm_orders([trade("Submitted"), order], timeout=0))
+
+
+def test_rebalance_records_partial_failure_and_exits_nonzero(monkeypatch, tmp_path, capsys):
+    cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+    cfg = dataclasses.replace(cfg, root=tmp_path, strategy=dataclasses.replace(cfg.strategy, top_n=2))
+    now = dt.datetime(2026, 10, 12, 10, 0, tzinfo=cli.NEW_YORK)
+
+    class Clock(dt.datetime):
+        @classmethod
+        def now(cls, tz=None):
+            return now
+
+    monkeypatch.setattr(cli.dt, "datetime", Clock)
+    idx = pd.bdate_range(end=now.date(), periods=300)
+    panel = pd.DataFrame({"AAA": 100.0, "BBB": 100.0}, index=idx)
+    monkeypatch.setattr(cli, "load_universe", lambda _: ["AAA", "BBB"])
+    monkeypatch.setattr(cli, "load_bars", lambda *_: (panel, panel))
+    monkeypatch.setattr(cli, "sessions_until_rebalance", lambda *_: 0)
+    monkeypatch.setattr(cli, "signal_overnight_recovery", lambda *_: panel.iloc[:-1])
+
+    async def run():
+        broker = Broker(cfg.ib)
+        monkeypatch.setattr(Broker, "__aenter__", AsyncMock(return_value=broker))
+        monkeypatch.setattr(Broker, "__aexit__", AsyncMock(return_value=None))
+        monkeypatch.setattr(cli, "Broker", lambda _: broker)
+        monkeypatch.setattr(broker, "account_state", AsyncMock(return_value=AccountState("DU123", 10000, 10000, [])))
+        monkeypatch.setattr(broker, "open_trades", AsyncMock(return_value=[]))
+        contracts = {s: Stock(s, "SMART", "USD") for s in panel.columns}
+        monkeypatch.setattr(broker, "qualify_stocks", AsyncMock(return_value=(contracts, [])))
+
+        def place(contract, quantity, *_):
+            return Trade(contract, Order(orderId=41, action="BUY", totalQuantity=quantity),
+                         OrderStatus(status="Submitted" if contract.symbol == "AAA" else "Inactive"))
+        monkeypatch.setattr(broker, "place", place)
+        with pytest.raises(SystemExit, match="BBB order 41: Inactive"):
+            await cli.rebalance(cfg, submit=True)
+
+    asyncio.run(run())
+    orders = pd.read_csv(next((tmp_path / "runs").glob("*/orders.csv")))
+    assert dict(zip(orders.symbol, orders.status)) == {"AAA": "Submitted", "BBB": "Inactive"}
+    assert "accepted 2 orders" not in capsys.readouterr().out
+
+
+def submit_with_open_orders(monkeypatch, tmp_path, open_trades, earlier_run="20261012-095323", earlier_ids=(64, 65)):
+    """Run `rebalance --submit` at 10:00 ET on 2026-10-12 while `open_trades` are open at IBKR."""
+    cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+    cfg = dataclasses.replace(cfg, root=tmp_path, strategy=dataclasses.replace(cfg.strategy, top_n=2))
+    now = dt.datetime(2026, 10, 12, 10, 0, tzinfo=cli.NEW_YORK)
+    run_dir = tmp_path / "runs" / earlier_run
+    run_dir.mkdir(parents=True)
+    pd.DataFrame({"symbol": ["AAA", "BBB"][:len(earlier_ids)], "order_id": list(earlier_ids),
+                  "status": "PendingSubmit"}).to_csv(run_dir / "orders.csv", index=False)
+
+    class Clock(dt.datetime):
+        @classmethod
+        def now(cls, tz=None):
+            return now
+
+    monkeypatch.setattr(cli.dt, "datetime", Clock)
+    idx = pd.bdate_range(end=now.date(), periods=300)
+    panel = pd.DataFrame({"AAA": 100.0, "BBB": 100.0}, index=idx)
+    monkeypatch.setattr(cli, "load_universe", lambda _: ["AAA", "BBB"])
+    monkeypatch.setattr(cli, "load_bars", lambda *_: (panel, panel))
+    monkeypatch.setattr(cli, "sessions_until_rebalance", lambda *_: 0)
+    monkeypatch.setattr(cli, "signal_overnight_recovery", lambda *_: panel.iloc[:-1])
+    broker = Broker(cfg.ib)
+    monkeypatch.setattr(Broker, "__aenter__", AsyncMock(return_value=broker))
+    monkeypatch.setattr(Broker, "__aexit__", AsyncMock(return_value=None))
+    monkeypatch.setattr(cli, "Broker", lambda _: broker)
+    monkeypatch.setattr(broker, "account_state", AsyncMock(return_value=AccountState("DU123", 10000, 10000, [])))
+    monkeypatch.setattr(broker, "open_trades", AsyncMock(return_value=open_trades))
+    monkeypatch.setattr(broker, "place", lambda *_: pytest.fail("placed an order while orders were open"))
+    asyncio.run(cli.rebalance(cfg, submit=True))
+
+
+def open_order(order_id, ref):
+    return Trade(Stock("AAA", "SMART", "USD"), Order(orderId=order_id, permId=114178000 + order_id, orderRef=ref),
+                 OrderStatus(status="PendingSubmit"))
+
+
+def test_retry_succeeds_when_ibkr_holds_every_order_an_earlier_run_sent(monkeypatch, tmp_path, capsys):
+    ref = "ibkr-quant 20261012-095323"
+    submit_with_open_orders(monkeypatch, tmp_path, [open_order(64, ref), open_order(65, ref)])
+    assert f"2 orders from {ref} are open at IBKR; not submitting again" in capsys.readouterr().out
+
+
+def test_retry_fails_when_an_order_from_the_earlier_run_is_gone(monkeypatch, tmp_path):
+    with pytest.raises(SystemExit, match=r"today's orders \[65\] are no longer open"):
+        submit_with_open_orders(monkeypatch, tmp_path, [open_order(64, "ibkr-quant 20261012-095323")])
+
+
+@pytest.mark.parametrize("ref", ["ibkr-quant 20261009-095323", "", "manual"])
+def test_retry_refuses_open_orders_it_did_not_send_today(monkeypatch, tmp_path, ref):
+    with pytest.raises(SystemExit, match="1 open orders already exist"):
+        submit_with_open_orders(monkeypatch, tmp_path, [open_order(64, ref)])

tests/test_rebalance.py

@@ -1,5 +1,15 @@
+import asyncio
+import dataclasses
+import datetime as dt
+from pathlib import Path
+from unittest.mock import AsyncMock
+
+import pandas as pd
 import pytest
 
+from ibkr_quant import cli
+from ibkr_quant.broker import AccountState, Broker, Holding
+from ibkr_quant.config import load_config
 from ibkr_quant.rebalance import plan_orders
 
 
@@ -41,3 +51,35 @@ def test_resize_band_keeps_near_target_holdings():
     )
     # AAPL is 8% under target and stays; MSFT is 40% under and tops up.
     assert [(o.symbol, o.delta) for o in orders] == [("MSFT", 6)]
+
+
+
+def dry_run(monkeypatch, tmp_path, holdings):
+    cfg = load_config(Path(__file__).resolve().parents[1] / "config.toml")
+    cfg = dataclasses.replace(cfg, root=tmp_path, strategy=dataclasses.replace(cfg.strategy, top_n=2))
+    idx = pd.bdate_range(end=dt.date(2026, 10, 13), periods=300)
+    panel = pd.DataFrame(100.0, index=idx, columns=["AAA", "BBB", "CCC"])
+    monkeypatch.setattr(cli, "load_universe", lambda _: list(panel.columns))
+    monkeypatch.setattr(cli, "load_bars", lambda *_: (panel, panel))
+    monkeypatch.setattr(cli, "sessions_until_rebalance", lambda *_: 0)
+    monkeypatch.setattr(cli, "signal_overnight_recovery",
+                        lambda o, c: pd.DataFrame({"AAA": 0.9, "BBB": 0.8, "CCC": 0.1}, index=o.index))
+    broker = Broker(cfg.ib)
+    monkeypatch.setattr(Broker, "__aenter__", AsyncMock(return_value=broker))
+    monkeypatch.setattr(Broker, "__aexit__", AsyncMock(return_value=None))
+    monkeypatch.setattr(cli, "Broker", lambda _: broker)
+    monkeypatch.setattr(broker, "account_state", AsyncMock(return_value=AccountState("DU123", 10_000, 4_800, holdings)))
+    asyncio.run(cli.rebalance(cfg, submit=False))
+    return pd.read_csv(next((tmp_path / "runs").glob("*/plan.csv")))
+
+
+def test_rebalance_manages_every_position_in_the_account(monkeypatch, tmp_path):
+    plan = dry_run(monkeypatch, tmp_path, [Holding("AAA", "STK", "USD", 49, 100.0, 4_900.0),
+                                           Holding("OLD", "STK", "USD", 10, 30.0, 300.0)])  # not in the index: no bars
+    # investable = 10,000 * 0.98 = 9,800: 4,900 per name, so AAA is on target.
+    assert list(zip(plan.symbol, plan.delta, plan.price)) == [("OLD", -10, 30.0), ("BBB", 49, 100.0)]
+
+
+def test_rebalance_refuses_positions_it_cannot_trade(monkeypatch, tmp_path):
+    with pytest.raises(SystemExit, match="not USD stocks: \\['ES'\\]"):
+        dry_run(monkeypatch, tmp_path, [Holding("ES", "FUT", "USD", 1, 6_000.0, 300_000.0)])