I have been trading in options intraday. Of late i have been trying to avoid buying options, due to inability of putting accurate stoploss.
Most of the available platform doesn’t have SELL-MARKET, and we need to put limit order.
I observed, lets say Nifty 10100 CE brought at 105. I place STOPLOSS-SELL order with trigger price 100, and limit price 99. Most of the time, when market reaches 100, the order goes to pending state, and i am in more loss than estimated.
I am afraid, if i put a limit price too lower than trigger price, my options would be always in lower than market price (top 1 offer), and will get sold immediately at a larger loss. Is this assumption true? Or does it always gets sold at best bid only? Like if best bid is 99, and i sell at limit price 95, it gets sold at 99 only? (Irrespective of the fact, that i put limit price 95.)
Adding: Does zerodha-kite support SELL-MARKET order for Nifty options? (Or we need limit price always.)