Squaring off

trader_man

Well-Known Member
#1
Hi, can we square off options on the last day of expiration without the risk of getting exercised? So, if I buy Nifty-Call-6000-28th Oct Expiry, can I square off at 3.29pm on 28th Oct by selling Nifty-Call-6000-28th Oct Expiry?
 

rajeabc

Well-Known Member
#2
Hi, can we square off options on the last day of expiration without the risk of getting exercised? So, if I buy Nifty-Call-6000-28th Oct Expiry, can I square off at 3.29pm on 28th Oct by selling Nifty-Call-6000-28th Oct Expiry?
yes you can do if you system , internet connection etc, allow you. but I am sure you know selling and square off are two different things.
 

trader_man

Well-Known Member
#5
.... I am sure you know selling and square off are two different things.
I don't quite understand this. I mean if I have bought 1 Lot Call options and if I sell the same strike and expiry, would that not automatically square it off? Or do I need to tell the broker beforehand?
 

trader_man

Well-Known Member
#6
Sell= as you know
square off = when you close your open position(s) (if long then selling and if short then buying). Make sure you use Squareoff option otherwise you will have 2 positions opened one in long and one in short.
I just asked my broker and he said that it doesn't matter. If I sell the normal way by pressing F2, it will automatically square off the position. There is no need to use Square off. This is in the NOW system.
 

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