SPREAD ORDERS were available in NEST SOFTWARE…These were beneficial for expiry rollover in the futures contracts as u have to place just one order for expiry rollover and currently we have to place an order for exit position first and then have to place the order in next expiry for making a fresh position: sometimes which lead to significant price difference just because of even mild stock price movements…If possible can u please provide these SPREAD ORDERS in KITE WEB for rollover near the expiry… @siva@nithin
BASKET ORDER can be used for MARKET orders which carry high IMPACT COST (Rs.300-400/lot) but if I placed a limit order then chances of getting one order getting executed and another one order to remains left untraded high if there is unfavourable mild price movement in stock price…so that’s why I am asking for Spread Orders… @siva@nithin@Stonecold
In snapshot…u can see QUOTES for SPREAD order of bajaj finance and tata motors future June to July rollover BAJFINANCE SPREAD BID 17.45 and ASK 17.85 TATAMOTORS BID 1.6 and ASK 1.7…U can just place a SINGLE order of BAJFINANCE LONG FUTURE ROLLOVER by just placing a bid at 17.5 or for short rollover place an ask order of 17.8
1.) So this means that a ‘Spread Order’ will give us rollover cost beforehand. Our Bajfinance order rollover cost will not be more than Rs.17.5, Right ??
2.) But if it is right then why does in the snapshot quote of bid and ask of Bajfinance June and July, our rollover cost is turning out to be Rs 19.9 (6152 - 6132.1) which is different to Rs 17.5 shown in the spread order ?
Does that mean that the bidding in the ‘Spread order’ feature is another order flow system in which only a limited no. of traders are bidding just for the rollover ‘spread’ cost of the underlying and is different from our regular bidding process and it is provided only in the desktop softwares like NEST Terminal by the NSE ?
Yes…live market bidding for rollover…on that day rollover cost for expiry rollover HIGH 22.3 & LOW 15.75…if we have a LONG position in a contract then we definitely want to get a rollover cost of 17.5 instead of 19.9 which u have calculated…LOT size 125 and difference in price 2.4…net extra loss as impact cost Rs.300 per lot
@siva@nithin I just want to know whether it is possible to get spread order for futures contracts expiry rollover in the future or this feature can not be provided in KITE WEB…should I elaborate more???.. if I fail to explain myself properly
Hey Aryan, you have tagged them multiple times and they still haven’t answered you. You should take the cue here and I suggest you to raise a ticket on Zerodha support to get an official reply and answer to your queries.
@siva - Any updates on this?
Also as NSE as abandoned SLM orders - why Kite has still SLM in its interface - Now what is the effect of using SLM orders - which price settlement happens? when will the order fail?