Help: Unable to square off long position of bank nifty put options

Hi, today I bought one lot put option of banknifty @21500 strike prize for intraday trade. I bought an option for the first time. However, when I tried to square off my position, the order got rejected saying I need to add funds of 1.03 lakhs. I am not able to understand why this happened. I am not trying to sell naked put option, I am trying to square off my open position.

Can someone explain the reasoning behind this issue?

I was relieved when the stoploss order got executed. Otherwise I would have been stuck with this put option.

Please see the screenshot for your reference.

What app is this?

I think rather than exiting, you should be converting your position from Long to Short that why it might be asking extra margins.

Try exiting from position/portfolio. Don’t place A SELL order from the market watch.

You might already have pending order in your order book for your existing position.so only if you try to place another sell order it is rejected. Kindly cancel it and try next time order will accept.

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Its Upstox app, there is no option to exit, only square off, I tried it, and order got rejected

Yes, I had put a stoploss order, and then I was trying to put a target order as I normally do when I trade in equity or futures, is that why this is happening?

Yes due to that.

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