Availability

Intraday product types

Trading is allowed within approximately 10% ITM and OTM from the underlying LTP.

Overnight product type

Trading is allowed within approximately 40% ITM and OTM from the underlying LTP.

Example: If the NIFTY LTP is 25,000:

• Intraday: Strikes roughly between 22,500 and 27,500 may be allowed.
• Overnight: Strikes roughly between 15,000 and 35,000 may be allowed.

Order type rules

• Prefer limit orders for far OTM contracts due to wider spreads and lower market depth.
• Market orders may be restricted in illiquid or extreme ITM or OTM strikes.
• For better execution control, use limit prices close to the best bid or offer.

Risk controls you should expect

• Execution protection: Orders may be rejected or converted if execution risk is high.
• Liquidity checks: Contracts with low volumes or wide spreads may have additional restrictions.
• Exchange-level validations: Price bands, LTP checks, and market protection rules can affect order placement.

Liquidity considerations

• Far ITM and OTM contracts may have low liquidity and wide spreads.
• Execution prices can vary significantly during volatile market conditions.
• For multi-leg strategies, Basket Orders can help manage the execution sequence and margin efficiently.

What if...