Got Stuck Need Guidance

R

raka2905

New Member
#11
#11
Hello,

Can someone familiar with Geojit Trader's Terminal help me? I am new to derivatives. Last week I did my first trade on options. Now I have a "PUT' (buy) open position on Geojit for Nov272008 for a strike price of 2600. I thought I lost all of the premium. But if tomorrow, NIFTY falls below it, I would like to exercise it. But in Geojit's trader terminal, I don't see any mechanism to exercise it. The helpline says that I have to do a sell against the open position. Is this same as exercising it ? Before what time I should do this?


Regards
 
T

terminator_123

Active Member
#12
#12
raka2905 said:
Hello,

Can someone familiar with Geojit Trader's Terminal help me? I am new to derivatives. Last week I did my first trade on options. Now I have a "PUT' (buy) open position on Geojit for Nov272008 for a strike price of 2600. I thought I lost all of the premium. But if tomorrow, NIFTY falls below it, I would like to exercise it. But in Geojit's trader terminal, I don't see any mechanism to exercise it. The helpline says that I have to do a sell against the open position. Is this same as exercising it ? Before what time I should do this?


Regards
Click to expand...
Selling is not same as exercising. Since options on nse are cash settled, if nifty closes below 2600 tomorrow, I guess u will b automatically credited the difference.. If it closes above 2600 Ur option has zero value..
 
R

raka2905

New Member
#13
#13
terminator_123 said:
Selling is not same as exercising. Since options on nse are cash settled, if nifty closes below 2600 tomorrow, I guess u will b automatically credited the difference.. If it closes above 2600 Ur option has zero value..
Click to expand...
It is still not clear to me. If I am 'in the money' tomorrow , when market closes, will it be exercised by me, automatically? Don't I have to give specific request to exercise before closing time ? Is this the same with all brokerage firms? I thought in ICICIdirect, you need to click on to 'exercise' tab. Pl. reply by tomorrow morning.

Regards
 
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