Trailing stoploss on GTT or any other good method for trailing stoploss on zerodha?

Kindly suggest trailing stop loss method especially for options trading, is this feature incorporated in GTT?
I have tried also on BO, but there was a message " Due to expected volatility this feature is not available "
Is there any other method to trail SL?

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Trailing Stop-Loss is algo and is available only with BO order type, In GTT you will have to manually update Stop-Loss values as price moves higher/lower according to your position.

Why BO orders is not working

Bracket Orders are disabled due to high volatility in markets.

For today only or forever?

It is for time being only, will be available again once volatility reduces.

it can be used for option trading also?

You can for Index Options. But currently BO is disabled so you cant use them.

means no option in zerodha to take the benefit of trailing stop loss?

You can use Cover Orders and update Stop-Loss manually as position moves in your favour.

Not useful , I need automatic , there is no time to do manually in momentum , manually we have in GTT also, What is the value addition to use cover order?

I am expecting proper solution on this, please update

Manoj, There is no solution to BO.

I don’t understand this trailing order= algo thing. Do you mean it’s possible to offer it only if the user is doing algo? That’s clearly not right.

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What happens in SL type situations is the system places a market order. Due to high volatility in option prices and wide bid-ask spread, your order may get executed quite far from the trigger price. This may not be understood by clients and they would blame the broker - how come my order was executed so far from the trigger price.

When the market is moving fast the bid/ask price would have moved further away between the trigger time and SL order execution time exacerbating the problem further .

Options move much faster than the underlying and since there are so many option contracts for the same underlying the liquidity in individual option contract is far less compared to the underlying. So a tool like BO and SL if implemented on Options will give wild results which many clients will not be happy with.