Dear All,
In case if I wanted to take a cash secured put today for march 2022 series and I place a GTT stop loss for it, what will happen in case of gap up/down when that price didn’t even trade. How to handle this situation please.
In case of gap up/gap down opening, the GTT order will trigger, but as the price will be beyond the limit price specified the order will not execute and will remain pending. The limit order will only execute at the price specified or a better price, ie. Price specified or a lower price in case of a buy order and a higher price in case of the sell order.
For better execution, you can keep some difference between the Trigger and Price, so once the GTT is triggered the limit order will execute at the best available price but not beyond the price specified. You can check out more details here:
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Thank you Shubh ji