How to buy / square off huge quantity of BNF/NF Put or Call options

[Subhadip]

Exchange have a limit of 7500 qty for Nifty Options( 100 lots) in one single order and for 2500 qty for BNF... was just wondering if facilities like "Bucket Order" can help. I called Upstox/ Rksv support yesterday and seems no option for that. So, thought to have views from our bigger community here.
Is Algo trading or some automated scripts is the way to achieve this ? Say price x point up or down, initiate x lot of buy PE/CE at predefined price. I'm not yet graduated to Options writing. That's probably a next stage for me hopefully in the time to come.

PS- I've some basic experience with python but that experience is around IT System administration. I'm still reading out the threads where ppl have mentioned python and figuring out why is that so.

You have to have some experience of this business. This is only my observation with little interaction in this thread

 

[Subhadip]

bhai, you will find many such examples, in the forum

All want to do big in less than six months....Never seen any new comer with objective of sustaining next six year...

Strange market
..Always driven by greed and fear

 

[dreambuddy]

If you are trading even as less as 20 lots you'd already know the answer to your original question.

The fact that you are even asking this question probably means you are a newbie in which case why do you need to worry about 500 lots?

If you are still curious read up on iceberg orders / execution algos.

One of my response is awaiting moderator review for past 45mins or so and I've covered some of the answers there. My question was straight forward to buy more than 100 lots of nifty options in one go.. or maybe buying is not more of a problem, but real problem is squaring off.. I want to immediately square off all my accumulated Nifty /BNF options in one go, however that order gets rejected and wanted to avoid the hassle of putting limit SL for those nifty/ BNF Options.. I'll go through the iceberg orders, thank heaps for the pointers !!!

 

[dreambuddy]

And even squaring off those accumulated options at market price is not an option because that breaches exchange prescribed limits. The only option that I've at my disposal is to put limit orders within the prescribed exchange limits and that manual thing I wanted to get rid of. And at the same time I want to catch movements like that of 15th June BNF expiry for 23300CE that rose from lows of 22 to around 80+ levels within 15 ~ 20 mins. There I seriously miss the exchange's limit but then I understand that it's probably a safeguard for most of us from ultra strong hands aka operators / punters/ market makers or maybe "gamblers". ;-)

 

[traderniftybull]

All want to do big in less than six months....Never seen any new comer with objective of sustaining next six year...

Strange market
..Always driven by greed and fear

ha ha
very true

IMO, these two factors, greed and fear, are the major forces, that are running this market, otherwise this market would have flopped much earlier.

 

[trump]

If you are really good at greed and fear you can really rake in serious dough,
courtesy - Implied Volatility, Gamma
Study them and use them well, you will know what I mean.