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F&O
Asked a question 11 months ago

Dear Fyers Support, I mostly trade only Index Options and I am struggling to understand Bracket order. Initially I used to place market order and then SL. In last few months we are seeing spike moves in options like never seen before. With moves like that I don't comfortable with placing market and stop orders. I would like you to please explain how to place Bracket order. Suppose I want o buy 10 lots of Nifty Option for Limit price of 50 with SL of 40-39 and TGT of 70, please post the screenshot to help me understand how the order will look. Finally is there any way where I can change default order type to bracket.

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Sujit Chakraborty
Active Option Writer and Long Term Investor

You need to place 3 trades:

  1. Buy limit order - 10 lots of Nifty with limit price 50
  2. Stop limit sell order - 10 lots with limit price at 39 (Place immediately after order 1 is filled)
  3.  Sell limit order - 10 lots of Nifty with limit price 70

Now if order 2 executes first, cancel order 3 immediately and vice-versa.

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