GTT orders for Buying Nifty Index Options using AMO

F&O
1

Kindly note the following:

  1. At 7 pm (i.e. during AMO hours), in the trading pop up window, I am trying to buy a Call/Put Nifty Index Option under GTT.

  2. I select NRML

  3. In the GTT Line, I fill up the Target percentage and the Stop Loss

  4. Then I click AMO

AS SOON AS I CLICK AMO, the entire GTT line DISAPPEARS!

Does this mean that placing of GTT orders with Zerodha for Index Options during After Market Hours is disabled?

Shall be extremely grateful if you kindly explain step by step how to place GTT orders of Index Options using AMO. None of the articles or resources of Zerodha explains this.

Thanks and Regards

2

You cannot use GTT while placing AMO.

3

@ShubhS9

Thanks for your reply. You are saying that I cant use GTT while placing AMO.

BUT, I had raised a ticket on Zerodha today itself and I have received the following email from Zerodha :

QUOTE

Dear …

Thank you for writing to Zerodha.

You will not be able to place stoploss (SL or SL-M) orders using AMOs. However, you can use a GTT order instead to place a stoploss during non-market hours.

Unless you choose to cancel, the GTT will remain valid for a year in case of equity orders and till the contract expiry for F&O.

Team Zerodha
Vecham Guru Prasad

UNQUOTE

Now this email states that I CAN PLACE GTT orders using AMOs.

I AM TOTALLY CONFUSED NOW. Can you check with the gentleman who is the sender of this email and kindly clarify the whole thing to me please?

I need to place GTT orders on Index Options during After Market Hours (upto 8:59 am or Pre Market Hours i.e. between 9:00 and 9:08 am).

Is it possible to do it?

Thanks and Regards

4

You can place GTT orders during After Market Hours, but you cannot place them with combination of AMO, You will have to create GTT Order seperately.

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5

Sir

For practical purposes, what is the difference between placing a GTT order using AMO and placing a GTT order during after market hours BUT SEPARATELY?

Under the method given by you above, when the market opens next morning, if my GTT order is triggered by the Index Price, then does it get executed as normal and enters my Holdings? Within milliseconds?

Also, AFTER my GTT order is triggered and executed, can I then go back to my already executed GTT Purchase and MODIFY the Target and put in a Trailing Stop Loss?

Regards

6

Yes.

Once your order is executed, from positions you can place GTT One Cancels Other, Order, which will act as Stoploss and Target.

7

MANY THANKS. GOT IT NOW!

One final question, Can I place GTTs between 9 am and 9.07 am (Pre market hours) also?

8

You can place GTT anytime, it will get executed only when the trigger is hit.

9

Many Thanks Once Again!

Regards

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