A bone spur (osteophyte) is a bony growth formed on normal bone. Most people think of something sharp when they think of a spur, but a bone spur is just extra bone. It's usually smooth, but it can cause wear and tear or pain if it presses or rubs on other bones or soft tissues such as ligaments, tendons, or nerves in the body.
An immediate or cancel order (IOC) is an order to buy or sell a security that must be executed immediately, and any portion of the order that cannot be immediately filled is cancelled.
If one of them executes, you want to automatically cancel the other. This is also something you have to proactively monitor. Right now, I have a bracket object that takes in a order_entry (for the initial order fill), a stop price, a limit price, and empty variables for stop_order and limit_order id's. I keep a dict of bracket orders keyed by stock in context.