Dear TraderJi members,

Happy Diwali in Advance :clap::thumb::clapping:

Using Nest Trading Terminal.
Zerodha is my Broker

Need Help in Option Strategy. Newbie in Option...mostly trade in Commodity

Where to Execute the Option Buy/Sell Order,

I have seen the video of BSE2NSE 1 Rupee IntraDay Trading Youtube Video.
I would like to thanks to ManiKandan.

Anyways, i want to try it out.

Now i Select


Buy(F1)--FUTIDX--NIFTY--30oct2014--50(Quantity)--Price(0.00 market closed)--Market Lot(50)

What is Order Type SP--2L--3L
What is NRML--MIS
What is Validity IOC--DAY--COL

Should i Submit order expecting Price 50 Rupees, and it will deduct Rs2500?

If this is the possibility, then why other go for 8020(23oct2014 Nifty Price)x50= 4 Lac around.

What are the benefit for Option Strategy.

I know the basic: dont have obligation to buy, obligation to sell etc etc...

Need in simple language ....

Thanks for reading the Long Essay type query :)