Placing a pair order

Trading
1

Hi,

Is there any way to place two Market orders as a pair order like both will execute at same time provided that other one successfully executed and vice versa.

E.g.- On Budget day, I tried to create a Long straddle on Banknifty. But while placing orders, I bought PUT option but couldn’t buy the CALL because of shortage of margin. And situation got out of my hand and I suffered loss to close the position in a hurry.
I know that I would need to have taken more care while placing order but for a novice trader like me maybe the pair order feature ight be useful.

2

Yes there is facility in Nest trader called spread order window in that you can place 2 leg, 3 leg orders, in which either both order should execute if the given condition matches or both will get cancel. Buy two different option call and put required full premium and there won’t be any margin leverage. If you place sell order with hedged position you will get the margin benefit.

This post on Z-Connect covers Spread Orders and how to place it on Zerodha Trader.