Executing weekly iron fly


I want to enter a IRON fly 16300 - 16600 - 16600 - 16900 as overnight position as of today i.e. 27-08-2021.

which leg should i execute first?

16300 and 16900 buy is blocked by zerodha due to sebi mkt wide limits of 15%

if 16600 short straddle is executed first , then can I buy the hedge 16300pe and 16900CE ?

how to go about it and what is the margin needed to prevent peak margin penality.

thank you

Yeah, one can buy longs of same quantity of any expiry even if they are out of range if they have shorts.

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margin requirements to prevent peak margin penalty?

While entering positions there will be no peak margin penalty but while exiting as hedge will be broken always exit shorts first before longs, because if you leave shorts only as they require higher margin you maybe charged penalty.