You can now create an options strategy from ‘Options Chain’ on Upstox. Simply click on your desired symbol’s scrip details page and follow these steps:
- Click on the ‘Option Chain’ tab and then on the ‘Create Strategy’ button.
- You will be asked to tap on the LTP of the strike price that you want to select (from our web platform you will need to hover on the chain which will give an option to select B for Buy and S for Sell).
- Tapping will open an order entry which will ask you to select or input the side, quantity, and price.
- Once done, you can select the ‘Add to strategy’ button and the order will be added to the review tab at the bottom of the page.
- Keep tapping and adding more orders (legs) as per your strategy.
- Once done, tap on the review page which will show you the summary of your selection and will ask to ‘Continue’.
- Tapping on ‘Continue’ will take you to the next page for confirming the orders.
- Once confirmed all orders will be placed and will start reflecting in the ‘Orders’ tab under ‘Trades’ where you can view the status of all orders placed.
Key things to remember
- Allowed to add up to 4 orders (legs).
- Cross expiry selection will be allowed.
- Only Option contracts will be allowed.
- Buy orders will be placed first followed by sell orders to help you gain combined (hedge) margin benefit from exchange.
Hint: To gain combined margin benefit from the Exchange it is necessary to place a market order or a limit order with a price that would have high chances of immediate execution after being sent to the Exchange.