You can now create an options strategy on Upstox. Simply click on your desired symbol’s scrip details page and follow these steps:
Step 1: Click on the ‘Summary’ tab and then on the ‘Build Strategy’ button or ‘Option Chain’ tab.
Step 2: 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).
Step 3: Tapping will open an order entry which will ask you to select or input the side, quantity, and price. Once done, Click on the ‘Add to strategy’ button.
Step 4: The order will be added to the review tab at the bottom of the page.
Step 5: Keep tapping and adding more orders (legs) as per your strategy.
Step 6: Once done, tap on the review strategy dropdown which will show you the summary of your selection and will ask to ‘Continue’.
Step 7: Tapping on ‘Continue’ will take you to the next page for confirming the orders. Swipe to place order and your order will placed.
Step 8: Once confirmed all orders will start reflecting in the ‘Orders’ tab where you can view the status of all orders placed.
Note:
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.