Covered Call in icicidirect

Hi

Does anybody know how to do covered call in icicidirect.

To the best of my knowledge, you will have to place two different orders.. one to buy stock and another to sell the option aginst this position..

Happy Trading.

Hi,

Say for example i already have 500 shares of Birla corporation.How can i use covered call by selling the option contract.

As you already have Stocks in your acct, you can very well goto F&O section of ICICIDirect site.. and Place order to sell the CALL option.

My suggestion - Liquidity of Stock options are very poor in our Market.. so you may not find buyer for the option that you are planning to Sell. (check out Birla corp option trading volume - It is BIG ZERO for all strike price. Nobody is trading in BirlaCorp options..
And even if you a buyer, the quoted buy price will be some unreasonably low price.
You are better off limiting to Nifty options and at the most - RIL option.

Happy Trading

Thanks so much.