icicidirect.com CTD - how does it work?

[dhoka]

Hello traders,

This is my first post. The forum has been a great source of learning, till date. I need your help in understanding the concept of CTD (Convert to Delivery) with icicidirect.com

Here is the situation:
13 Feb 12: On margin trading, I bought (BUY) Pantaloon's shares at various prices ranging from 176.75 to 179.5. During the course of the day, I saw that the price dropped and beyond my loss-taking ability. I sold (SELL) few shares, but the loss was mounting. Hence, I converted (CTD) 500 shares to delivery. The price range on that day was 184.3 - 176.3.

16 Feb 12: On margin trading, I went long (BUY) or short (SELL) on Pantaloon at various prices ranging from 197 to 190.74, on multiple counts. I did NOT convert any share to delivery.

17 Feb 12: On margin trading, I went long (BUY) or short (SELL) on Pantaloon at various prices ranging from 200.6 to 189, on multiple counts. I did NOT convert any share to delivery.

Today, when I checked my Equities, under "Trade & Invest--> Portfolio--> Equity", it shows that the average buy price of my 500 shares is 197.44. The day I used the CTD option, the price never touched 197.44.

What has happened here? How did icicidirect.com put a price tag of 197.44 to the 500 shares? Any explanation would be grateful.

TIA,
dhoka

 

[LivetoTrade]

To my knowledge, icicidirect work on a first in-first out model.

You margin and delivery share prices have been averaged automatically.

Brokerage has been included in your average price.

 

[dhoka]

Hi LivetoTrade,

It would be nice if you could explain first-in-first-out concept. Also, that day's (13 Feb) price range for Pantaloon was between 184.3 - 176.3. Hence, there is no way that icicidirect.com can arrive at an average price of 197.44. Even if you add a brokerage of 1%, the price shouldn't cross 180.

Kindly suggest.

-dhoka