Why is my order rejected stating, "The strike price is beyond the allowed intraday execution range. Either place Intraday order within range (Upper range - ₹<amount> & Lower range - ₹<amount>) or try with Overnight"?
This rejection occurs when you attempt to place an intraday order for an options contract with a strike price that lies outside the permitted intraday execution range.
What is the intraday execution range?
The exchange sets strike price limits within which intraday trades can be executed to minimize risk and maintain liquidity. This defined range ensures that trades are executed within reasonable price movements.
Intraday strike price range limits:
- Index Options: ±15% from the underlying spot price
- Stock Options: ±10% from the underlying spot price
- MCX Options: ±20% from the underlying spot price
Why was your order rejected?
Your order’s strike price exceeded the upper or lower limit of the allowed intraday range. For such orders:
- Intraday execution is restricted
- You must either place a new order with a strike price within the range
- Or convert the order to an overnight position (CNC/NRML), which does not have such a restriction
Example:
- Underlying spot price = ₹1900
- Index option allowed range = ₹1900 ± 15%
- So valid intraday strike range = ₹1615 to ₹2185
- If you try placing an intraday order for a ₹2200 strike price, it will be rejected
- Solution: Either choose a strike within the valid range or place it as an overnight order
What If...
| Scenario | Explanation |
|---|
| I place a strike price outside the allowed range | The order will be rejected with a message showing valid strike price limits. |
| I still want to trade that strike | Place the order as an Overnight (NRML/CNC) instead of Intraday. |
| I need margin benefit on intraday | Stick to strike prices within the allowed execution range. |
Before placing option trades, check the current allowed strike range directly in the order window or on your market watch to avoid rejection. Using limit orders and correct product types helps reduce order placement issues.
Last updated: 28 Jun 2025