Hi I had placed Arbitrage strategy in futures honaut (Honaut Nov futures as sell position and Honaut Dec position as buy). Problem is had reached the profit I expected and tried to square off. But sell position got exited with limit order but i couldn’t exit from buy position which is far futures i.e Dec ones. How can I easily exit from this position? Can I convert NRML to MIS order tomorrow if limit order again fails?
1 Like
The HONAUT DEC Futures contract is very illiquid. As you can see from the below screenshot, there were no trades today.
Converting your position to MIS doesn’t mean it’ll be squared-off, you will still have to place sell order and hope there is buyer on the other side to buy it at your price. If not, the order will remain pending and will be cancelled if not executed by market close.
Converting to MIS and then placing the order or placing the order in NRML will make no difference. Since this is illiquid contract, you can’t do much other than placing a sell order and hope it gets traded.