Negative Qty in Option Position

[Deepanmahendran]

Hi All
I held 1 lot of Cipla call option 1000 CE (650 Qty)
By mistake placed sell order twice and both got executed. Now it is showing up the total qty in Negative.

Do I need to buy an additional 650 qty to square it off? How does this work? Please throw some light. Now the Average price is shown as 41.25, to make a profit do I need to buy additional shares at a price lower than 41.25 or higher than 41.25?

Thanks, Deepan

[ShubhS9]

@Deepanmahendran

Do I need to buy an additional 650 qty to square it off? How does this work?

You are holding a short option position now. To square this off, you will have to buy 650 quantity.

@Deepanmahendran

Now the Average price is shown as 41.25, to make a profit do I need to buy additional shares at a price lower than 41.25 or higher than 41.25?

When you are short, you make profit when they price drops, as opposed to when price increases when you have buy position.

[Deepanmahendran]

Thanks for your response.