Does sell gtt get cancelled if you don't have underlying?

[Ramsey_Bolton]

I have some buy gtts which I have entered for buying stocks next week. Now generally I enter stop loss after i actually have bought the stock. Next week I will be busy with exams.

Can I enter sell gtt from right now? That way if buy gtt was triggered and I did have underlying, sell gtt can function as stop loss.

But if buy gtt was not triggered and stock reaches sell gtt first, will it just get cancelled or a new mis short position will be opened?

[ShubhS9]

@Ramsey_Bolton

I have some buy gtts which I have entered for buying stocks next week. Now generally I enter stop loss after i actually have bought the stock. Next week I will be busy with exams.

Can I enter sell gtt from right now? That way if buy gtt was triggered and I did have underlying, sell gtt can function as stop loss.

Yes, you can.

@Ramsey_Bolton

But if buy gtt was not triggered and stock reaches sell gtt first, will it just get cancelled or a new mis short position will be opened?

GTT uses CNC product type, not MIS. So if the sell GTT order is triggered, it’ll be rejected as you will not have shares in your holdings for selling.

[Ramsey_Bolton]

Understood. Thank you