Hi,
Does Zerodha allow placing iron condors as a single order? I’ve read about the spread order
https://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/zt-spread-orders.
Can I use 2L or 3L to place multi-leg option strategies like vertical spread or iron condor? Also, what would be the brokerage charges for this type of order?
Currently on Kite you can’t place all orders at once, you will have to execute all orders manually.
You can check margins required to trade these strategies on Margin Calculator.
You can check brokerage charges on Brokerage Calculator.
But how do we use it.
If I try to execute the SELL order 1st it gets cancelled because of Margin requirements.
You can execute Buy leg first and then Sell leg, this way you will be eligible for margin benefit beforehand.
And while squaring-off, exit Sell leg first and then Buy leg.
But will it not reject otm long?
Placing buy orders first is also not possible due to OI limit problem for Zerodha. I am referring to creation of iron condors on nifty.
So effectively, margin calculator is fiction while reality is different
Iron condor order not executed due to oi limit please help
Due to OI limits you won’t be able to buy options outside the specified range. However, we allow buying options at any strike price for hedging purposes if you already hold a short option position. So instead of buying options first and then executing short leg, you’ll have to short first and the execute the long leg.
Also, if you wish to trade without any restrictions, you can migrate your account to Orbis. You can learn more on this here: