Suggestion: Ability to square of CO position by adding new CO positon

Zerodha
1

Let’s say, I shorted 100 shares of RELIANCE today using CO.

Now, let’s say, I want to exit RELIANCE when share price hits 2,000. So I place BUY order of RELIANCE IN CO at 2000.

Once the buy order also gets executed, I will have two open positions:

1.) RELIANCE SHORT CO
2.) RELIANCE BUY CO.

Now, it makes perfect sense for Zerodha to forget these positions, and square them off with each other. But that’s not the case. I need to exit both the positions, buy the short position and sell the buy position, hence paying double STT, Brokerage etc.

Thoughts?

2

@siva Can I tag you, did not receive a reply from anyone. Thank you

3

You cannot have long and short together in Equity cash. When you buy back, your position will be auto squared off. So only one position, no double charges.
Its possible in futures (different expiry)

4

That is not the case when trading using “CO” product.

Once, I have double position, the “positions” tab will not show any position, thats true. But at 3:20, Kite will Buy the short position and sell the long position, and exit both positions.

So basically, the stop loss that comes with “CO” position, is not removed.

5
  1. My Cover Order(CO) stoploss/target order is missing and I see another position which I didn’t take. Why is this? (zerodha.com)
    Read this.