zerodha is now allowing to buy OTM options on MIS basis,when did this happen.how did they overcome the 15% limit set by the exchange.
This started happening around a week back (Refer to this thread).
The support page explains how this is possible -
Also if a customer trades options only for intraday, it doesn’t really add up to our end of day OI limits. So we now allow trading across a larger range of strikes if you are trading using product type MIS (Intraday only). When you trade using MIS, you have to forcibly square off all positions at the end of the day. We now don’t allow conversion of MIS positions to NRML for Nifty and Banknifty option contracts in case of buy positions. This to ensure that the conversion doesn’t add up to our end of the day OI limit, but we believe that this will also be a risk management measure for customers who turn their intraday trades into overnight positions just to avoid booking a loss.