I plan to exit/close my position. Markets orders are not allowed so placed a limit order. Both were open for some time.
But After 600 PE got triggered suddenly did I get a margin call? why does this happen? How to avoid these. If I defaulted to update my balance. Is the peak margin penalty is my consequence? Please guide me
The exit order for your long position would’ve executed first, leaving your short position open. Since the position is no more hedged, this increases the margin requirement. You would have received the margin call as you didn’t have sufficient margins to hold naked short position.
You should exit short position first and then exit the long position. Also, peak margin penalty can be applicable as the exchange takes 4 snapshots at random times throughout the day, so if there is any shortfall during this time, peak margin penalty will be applicable.