Hi guys can someone explain me how exactly basket order works ?
Suppose I want to do bull call spread in HDFC BANK. so I decided to create basket order. I will put buy order first then sell…but zerodha does not allow buying/selling of stock options at market price. So I have to go to market depth and then place my order accordingly… correct ?
And what about exit…can u exit both the options at the same time ?
Right. For stock options, you’ll have to place an limit order. Though you can also use limit order like an market order by placing buy limit order above or sell limit order below the current market price.
Doing this will execute your order at best available price in the market but not beyond the price specified by you. You can learn more on this here;
You can use basket order to exit your positions as well. You just have to create a basket with opposite orders.