Thinking of shorting this deep OTM option. Screenshot attached below.
The current price is 4.95. I’d like to sell this and place a stop loss of 8. But I’m unable to place a stop loss of 8 because the upper circuit is 6.8.
I’d like to know what happens if the price of 6.8 is hit? Will the upper circuit be revised and will trading continue? Or will trading in this strike be stopped for a while - and if yes, for how long?
And in my case, does it make sense to place a GTT order instead of a stop loss?
So in my case, it’d make sense to place a GTT order as a stop loss, and when / if the upper circuit is breached and revised, I can place a regular stop loss then. Would that be correct?
Yes you can place GTT. If GTT gets triggered it will get activated, you can modify that order too or you can cancel the GTT and place the normal orders.
