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Strike Selection

For strike selection, right now there are three options available which are explained below. However in the future we have plans to add a few more types of strike selections.

Normal: This is the basic selection like you do everywhere. You need to select the exact Strike amount for the leg and that remains constant.

Relative: In this case strike will be relative to the ATM. Example you selected ATM + 100 and currently NIFTY at 15105 then the system will calculate the ATM as 15100 and then addsup 100 and it will select the 15200 strike.

This will be dynamic and strikes will be changed at the time of execution depending upon underlying pricing.

Both: This will show both options. First Relative and when you scroll down further then you can see strikes as well.

This will be helpful in cases where few legs you want to be relative alik ATM + 100 and few are as per strike like 17100

Here you can specify the strikes you want to select. For example if you wanted to use only 100 strikes for NIFTY then you can enter 100 here. If you want to use only 500 strikes then you can enter 500 here.

How it works: Suppose the selected Symbol is NIFTY and current underlying price is 17820.

Case 1: Strike step is 200, now in this case nearest rounding to 200 will be 17800 which will become ATM and ATM + 1 will be 18000 and ATM-1 will be 17600 as it will use a stepping of 200.

Case 2: Strike step is 150, now in this case nearest rounding to 150 will be 17850 which will become ATM and ATM + 1 will be 18000 and ATM-1 will be 17650 as it will use a stepping of 150.

Likewise for every script, you can use your desired stepping value which will select strikes only in multiplication of stepping value

To get better margin benefits, For Entry Orders, it is always suggested to place BUY orders first and then sell orders after some delay. Tick if you want to place Buy trades first.

This works very logically and keeps a delay of at least 1 sec between BUY and SELL Orders.

If you want to put additional delay in sell orders then you can Sell Hold Seconds under Strategy Tag grid. Remember that this will put delay in every sell order despite there being any BUY order in that portfolio or not.

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