Hi all, Every time i try to sell 3 lots of OTM banknifty 24300 PE in NRML mode in Zerodha, my order gets rejected (already 3 times today). I have enough margin in my account. Can anybody tell me why the order gets rejected? Am I missing some thing?
As the Open Interest limit breaches often at Zerodha for Bank Nifty options, Bank Nifty contracts currently allowed for trading is between 24500 TO 25700 CE AND PE. They have mentioned it here on this page - https://zerodha.com/margin-calculator/Futures/
Position limits allowed by NSE for Trading Members is higher of Rs.500 crores or 15% of the total open interest in the market. Have a look at this link for more info - NSE Position Limits
I had the same doubt last week
Really appreciate your quick and precise answer. Thank you.
I just came across this link on their support portal too. Do have a look:
Yup, thanks. Does this mean that we cannot place order for deep OTM options even during the beginning of the new weekly series?. Sorry if the question is dumb, I am a newbie!