My order was rejected from zerodha due to insufficient margin. I was trying to sell 900 quantity of nifty jan 18 11000 CE of 25 jan series. It was normal selling and not short selling.I am new to trading.Can someone explain me the reason for requirement of margin to sell my holdings ?
IF you had bought options and you were trying to exit, if you got this rejection reason, it probably means that you had a pending order in the system. If you have one pending order, you can’t place another one without additional money.
Thanks for your prompt reply but the order for buying the option was already executed and i also received the notification for the same.I was trying to exit this option from my position tab.below is the snap for that
I tried 20 times to sell my open position which got rejected repeatedly. If there is no requirement of margin then it might be a software issue. My main concern is whether i will able to sell it on monday without any margin issues.
Like I explained earlier, there is no margin check if you are trying to exit a position. But if you had already placed one exit order, and then placing another one to exit through position, it will reject saying margin required. You can have only one exit order for every position you hold.
Thanks for your kind explanation. But i was not placing orders simultaneously.My first order to sell got rejected at 3:15 pm therefore i made subsequent attempts to place the order.
Shouldn’t happen, but if it does, email email@example.com
You should have called to support team if you were not able to Exit from your end.
Support team would have closed this order for you.
Already mailed to firstname.lastname@example.org about the issue. Hope to receive a reply on monday from support.Anyways thanks for resolving my major concern.
As i mentioned in my first post i am new to trading.I was not aware of this option.Thanks for your advice.Will definitely do that next time if i face the same issue.
I understand your Situation.
I am sure Monday You’ll be able to Exit from your end.
One more thing If you are new (6-7 months old) to Trading Stay away from illiquid stock options.
Yes you are right.Recently incurred a huge loss in nbcc options.But i do see decent liquidity in nifty index options.
Yes, Don’t worry You will learn it all the Abc of stock market as you gain experience.
Initially when I was trying to sell, then I was also facing same issue due to lack of knowledge of process.
Please follow below steps :-
- Click on NRML order “NBCC18JAN255CE” and click on EXIT.
- Once You will get SELL order then you can set your SELL order.
2.1) If you want to exit at same time at current LTP then just select MARKET in SELL order . and your order will execute and you will get respected P/L .
2.2) If you want to put your sell on some LIMIT amount , then select LIMIT with your related amount and once price will touch your SELL order, it will execute and you will get respected P/L .
Thanks for detailed description of process but i am aware of such basics.I needed confirmation of non requirement of margin for selling my position.As it is clear from above posts it is not required. I might would have faced some software issue that day and i am in contact with support@zeroodha for the issue.