Error: Price is out of LPP range

Hi Team @nithin and @ShubhS9

I am facing execution issue from yesterday.

I sold an option at 70 and placed 88 as SL (with 38% as buffer value between trigger and limit).

When I came back, I am surprised to see that price crossed 88 but still order not executed.

Find screenshot below please

Let me know the solution please

Unfortunate thing is… your customer care also does not know the new LPP rule correctly. I called a couple of guys and they say some NSE new rule but not able to explain properly

Hey @Raja_123,

The exchange calculates the LPP range using the average traded price (ATP) in the last 30 seconds of completed trades (40% on each side for contracts trading above ATP of Rs 50).

In your case, while the trigger price of 88.35 had breached, the ATP would have been lower(>40% from the limit price) based on the trades that would have occurred in the past 30 seconds leading to your order rejecting at the exchange.

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This is a very dangerous rule from NSE I guess.

During sudden huge jumps even 5% difference would be higher than the range NSE defined and normal traders can’t keep on calculate after every 30 seconds.

If we give less range, options might jump and SL misses. If we give higher range exchange might reject the order.

Not sure what’s the reliable solution here.

@nithin please take this to the exchange if you think the problem is genuine.

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