I trade a lot in Bank Nifty Options. My order keeps rejecting saying that its outside the allowed range as per OI limits. How do I know this range at the start of the trading day? Is this range dynamic during the day? Should I call support every day to ask this?
The position limit of a trading member can only be upto 15% of the total Open Interest(OI) in the market for an F&O contract.
As and when we cross the 15% limit of total open interest in Banknifty, we dynamically limit the strikes in which positions can be taken based on the LTP of Banknifty index.
The strike prices within which you can trade is displayed on the Margin Calculator page.
It is continuously updated during the day and you don’t have to call the Support desk to know the range of strike prices allowed. Do note the range is only for the current week contracts.
Many of ur customers including me have moved our accounts to other brokers because of this issue …