BO/CO is different than MIS and extremely tough to support in a market like this. Reasons being
-
The margin required for BO/CO is based on how many points away your stoploss is. This is not really dependent on SPAN margins like MIS. SPAN dynamically goes up with volatility, but stoploss that you select can remain the same for BO/CO.
-
With BO/CO, when stocks/index options are hitting circuits, the entry order will get executed. But the Stoploss/target will get rejected because of circuits. What this means is there will be a hanging BO position without a corresponding SL/Target. The only way this can be then exited is by our RMS team.
-
With this much volatility, there is also a high probability of both stoploss and target getting executed at the same time on bracket orders. Which again would mean a hanging position in case of bracket orders.