I need help with Stop Loss order placement.
ASHOKLEY JUL 140 CE is at Rs.3 premium as of now. I buy 1 lot.
And now I want to place a Sell Stop Loss Order.
So I open the Sell section,
Select NRML, then SL
In Advanced Section, Regular and Day are pre-selected which I don’t change. (i.e. No Bo or CO or AMO, no IOC)
Now I would like to validate if my understand is correct.
When the Call option premium goes down from Rs. 3 to Rs.2.85 (Trigger Price), my sell order is activated. And if the premium keeps dropping and reaches Rs.2.70 (Price), then the sell order will be executed.
Is this understanding right?