Option positions auto exit

Hi Everyone, Do you know any trading platform which provides a facility to auto close positions based on certain P&L / certain criteria? Say For example I have BankNifty 36000CE & 36000PE short positions open for 1000 points premium. I’m looking for a facility to Auto close/Exit these positions at certain loss, say for for eg., when combined value of these options reaches 1100 points or a loss of 100 points. Do we have any such thing from any broker? Any leads would really help. Thanks.

1 Like

Nothing as I know from brokers end as this comes under algo and algos are not allowed for retailers.

1 Like

Hi @nitin, thanks for your response. I have seen one random image below recently and seems this is related to this. Anyone know this is from whom? This is looking like a bracket order that’s useful for staradle exections. Is there a possibility to implement this feature in Zerodha? It could be a great one if we get this OOTB?

Think that is a spread order, not there on kite as of now, will check on the possibility of adding this.


Hi Sreeni,

My understanding is that each trade is separate, once taken, and cannot be combined. I do not think any broker platform is designed to link two trades. While they do a little on this while computing the margin requirements, that is before you take the trade.

Having said that, the way I do is I create a GTT for each of the trade with the specified target and SL and it works like a charm.

However, there is also a provision in Sensibull, the options platform of Zerodha where there is a work around. Here you can combine any trades together in a group and set an alert for the net PL / SL. This alert also works very well. The alert comes to your WA number. You may want to give it a try.

Hope this helps.

Hi @xg6182, Thanks for your help here.

I am mainly concerned about options trading here. Keeping a separate GTT orders for target/SL may turn the position to naked most of the times and that may lead to more damage or not picking the right target for the remainder of the position.

As we have enough liquidity in NIFTY & BN options executing such combined orders at a combined premium is definitely feasible. I found out Motilal Oswal is the broker in the above screenshot who is providing such feature already.

Also, I use that Alert feature in Sensibull and that really helps in regular market situations. However when there is a sudden sell off of 500 points fall in BN in a couple of minutes is happening in more notable times these days is not going to give time to take action even with in a minute after alert. Last week on March 12th, 2 minutes fall of 500 points is one of the examples of such cases.

Thanks again for taking your time and sharing this information.