My advance sell order in options got rejected saying 'Order price is out of Day's price range'. But if stock's up 10%, options may rise 300% in one day. How to book max profit then?

Are you trying to place an order for the mid or the far month contract? Because until now, trading illiquid F&O contracts had an execution risk that if you placed a market order it could get executed at any price which could cause significant damage as an impact cost. To ensure orderly trading NSE (National Stock Exchange) has now defined an execution range for every contract as explained in the circulars below. 

CDS Circular - For Currency Contracts

FNO Circular - For F&O Contracts 

This means that you can place an order only in the price range as defined. The price range keeps getting updated based on the price of the underlying.

3 Likes

    Option premium values does not increase by %, rather it increases by the option model. You can use option calculator(shift+o) to calculate the value based on the underlying target price and target time period. This way you can plan in advance for the higher target price and for a particular date.