Shubh sir if sl is set as lower than trigger in Buy, than that mean it will buy at any price above it, and that is the only way to ensure order getting filled completely in GTT type. I am saying this increases risk multifold as with freak trades it can get filled at extreme heights. To prevent that sl limit option will help in GTT.
Is there a plan to enable GTT on currency derivatives?
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Hi @nithin
What if Both Target GTT Trigerred and before the Target limit price executed… If it Comes to SL and will the GTT Triggers again for SL?
how many seconds it will take once SL or Target price trigerred…to keep the limit price
what is the update for Absolute values in Buy order…Is it still in progress from march 2020?
HI @nithin
Why for Intraday MIS index options or stock options BO orders disabled…What is the risk in giving SL-Limit and Target-Limit order for closing exisiting position
if the positions not squared off by EOD…isnt Zerodha will square off these positions?
This is on our list of things to do. Will keep you posted.
In GTT OCO (One Cancels Other) order, if either of your Target or Stoploss is hit, the other trigger immediately becomes inactive.
You can set absolute values from the GTT order form. Explained above:
The reason for stopping Bracket Orders has been explained in detail here.
Btw, after SEBIs peak margin norms came into effect, now there is no extra leverage for using MIS in F&O and margin requirement for MIS as well as NRML is same. So you can use GTT OCO order to place Stoploss and Target.
Chart prices doesn’t reflect all the ticks from the exchange. Stock brokers get 1 sec snapshot data from exchange. Its not tick by tick data.
Ok. Sorry about that. I thought the candle price shown on chart was different from what it should have been. What was the limit price you set while placing the OCO ?
SL GTT was triggered and the Limit order was placed for 441.55 only (you may refer to the order book) when the order went for execution best bid price seemed to be a better price than the limit price, because of that the order was executed at 446.10. This option contract is down by 80% today, a 1% stop loss/target on this type of volatile contract will hit immediately and the price execution may differ from the limit price. Since the sell limit price is 441.55/-, the order will not execute below 441.55/-, if the best bid is available compared to the limit price, the sell order will be executed for the best bid price. This can happen with BO as well.
OCO GTT will place a limit order where the stop-loss is market on bracket order. You may check this thread to know the behavior of BO in a volatile market.
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Thank you for the reply
Can i combine only Stop loss 1% while placing buy
and create GTT for sell single for target?
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You can do that. one execution will not cancel another GTT, you may have to cancel them manually if you do not want to create a new position.
Why 2 Sell Limit orders are not allowed one for SL and one for Target for Options… When the same allowed for futures
if one trigger is executed, the other one can be automatically cancelled like (OCO)
Please dont say volatility or margin money collected for futures.
Ex: Same can be implemented for atleast intraday MIS index options…when the target limit order is hit and due to sudden volatility if it reaches near SL…if in traders account amount is available sell order will be trigerred otherwise it will be rejected.
This example shown for reliance may be applicable for NRML orders…if i have a MIS order how it can be carried overnight?
Volatility will always be there… Zerodha is Trading business…every year across brokerage firms 1 lakh new customers added…zerodha asking new generation to invest and providing varsity materials.
from 2020 zerodha says volatility in markets…Bracket order disabled…Please enable bracket order for MIS index options
If both SL and target are executed, the required margin (almost risk) will remain the same for the future. In options trade, if we place two sell orders (SL and target) for option long position, the risk involved in this trade is high. This can result in an option short sell.
This is not easy without a bracket order. The risk involved in bracket order is already explained here, please refer to this as well.
Is GTT OCO available for Options MIS trades? Or only for NRML?
GTT is available only for NRML product type.
Okay so if want to set both target and stoploss for intraday option position, how to do it?
You can take position in NRML and place target and stoploss using GTT. Even if you take position in NRML, you can square-off the trades on same day.
The margin requirements for using MIS and NRML are same now since there is no additional intraday leverage in F&O segment.
Yes but the problem is not all strikes are available to trade in NRML. Only MIS is available for all strikes so please suggest the best way to set target and stoploss for MIS option positions.
In MIS, for options you can either place stoploss (using SL order) or target (using limit order), not both. This is because unlike in equity trading and futures trading, the margin required for buying and writing (selling) options varies. Explained in detail here:
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