query:Option order validity

rajeabc

Well-Known Member
#1
I am with ICICIDIRECT .I have been doing intraday trading for some time sucessfully. Now I want to try hands on Option trading. While filling the option order I got confusion as how to fill the order validity "Good Till Date". There are two options 1: day (for intraday), 2: IOC (couldnot understand).

Say if I want to keep the option for more than 1 day then how can I do that ?

Please help ple. additional advise would be much appreciated.

Thanks
 

AW10

Well-Known Member
#2
We don't have order that are active on next day. At the end of the day (in the night).. all unfilled orders are deleted by system (of NSE as well as of all brokers).
So everyday u need to enter new order..

IOC - stands for Immediate or Cancel. You can use it when placing a limit price for your order. and if that price can't be processed by market now.. then your order will be cancelled. If u place market order, they are processed immediately but then u loose control over the filled price that u might get.

In practice, if u are trading active instrument then instead of IOC order, use market order or limit order.

Happy Trading
 
#8
thanks for the reply Mr Savant,
one more thing can u suggest which is the cheapest demat and trading account provider in terms of brokerage and annual charges?
 

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