Index Option Trading Range for NIFTY BANKNIFTY and FINNIFTY

Prem
Hi Team,

Can we get Index Contract allowd for tarding via API like you are given this on margin page below:

Bank Nifty contracts allowed for trading
Current Week-NRML:37100 to 37800 MIS:All strikes allowed
Next Week-NRML:37100 to 37800 MIS:33800 to 41200
Next Month-NRML:37100 to 37800 MIS:33800 to 41200 More
  • SRIJAN
    No,you have to get it from the zerodha website.
  • Prem
    It is required. So, kindly provide it via API
  • sujith
    You can get the link from utilities section here.
  • sujith
    sujith edited April 14
    This file changes during the day.

    Due to technical issues, we can't provide an API yet. We will try to incorporate this in the new OMS.
  • Prem
    Hi Sujith,
    There are plenty of files. So, which file or link I have to select to get required info.
  • sujith
    @Prem,
    If this is particularly about checking the allowed banknifty or nifty strikes for trading then the easiest way is to place an order and check the range on the Input Exception's error message.

    For others, you will have to use Consolidated list of scrips blocked/allowed by RMS, List of illiquid scrips
  • Prem
    Prem edited April 18
    @sujith

    There is no Index Nifty, Banknifty and Finnifty included in List of illiquid scrips. All Index F&O included in Most liquid scrips.

    One question, limit is only for NRML Call and Put Option buying, not for MIS Call and Put Option buying. It is true for each of the market condition and always or it will be blocked when uncertainty/volatility increased.

    One way which you suggest is not optimal to throw order and check the range in Input Exception and then again place new order as per that range. Because, in trading every second is very vital and we dont have to waste it.

    Can you please provide logic/formula to calculate this range. So, I can calculate it by my own.

    Kindly reply ASAP.
  • Prem
    @sujith ,

    Kindly reply
  • rakeshr
    One question, limit is only for NRML Call and Put Option buying, not for MIS Call and Put Option buying. It is true for each of the market condition and always or it will be blocked when uncertainty/volatility increased.
    Yes, it can change depending on market volatility. You can keep a check here on our bulletin update.
    One way which you suggest is not optimal to throw order and check the range in Input Exception and then again place new order as per that range. Because, in trading every second is very vital and we dont have to waste it.
    Anyhow to fetch the allowed range, you will need to make an API call, the same call you can make to place an order to parse an error message and calculate the allowed range. I don't see, much difference in the execution time.
  • Prem
    Prem edited April 19
    @rakeshr,

    There is no space to see bulletin update between trading hours if the range can change any time during the market hours as per volatility. I need OMS logic to calculate it by my own. Is it true for both MIS and NRML Order?

    @rakeshr,
    I am developer. So, I have to avoid unnecessary calculation and network call to make our resource free to do other things. If you wanna realize difference then observe it with Banknifty index Tick by Tick Snapshot.

    Just comes up with solution which is optimal. "Jugaad" kind of thing is not allowed where time and computation power of resource is limited and matters a lot.

    Just reply for exact way to solve this ASAP.

    @sujith ,
    Kindly reply. I am waiting for your reply
  • sujith
    sujith edited April 20
    @Prem,
    The range calculation is not a simple straightforward logic. There are many external factors and variables to be considered and it is done by the RMS.
    we can't provide an API for this due to some technical issues. We may include an API for this in future.
  • Prem
    Prem edited April 20
    @sujith ,

    External factors? I don't think so. If NSE share its paper to calculate Volatility/India VIX then why Zerodha is not able to share it. NSE have more complex setup than yours but they share. Refer attached whitepaper downloaded from NSE.


    How much restriction we bear as a retail trader. System must be unbiased. If not then Its very-very annoying.

    I don't think restriction for MIS order is needed because MIS order will get neutral by end of the market trading session.

    Is MIS order have no restrictions for all market conditions and all time?

    @sujith
    Kindly read carefully before replying. I am waiting for your honest and genuine reply ASAP
  • SRIJAN
    SRIJAN edited April 20
    @Prem,

    The calculation of the allowed range of strikes is dependent on something which zerodha or any other broker don't share in the public .
    You can read here:
    https://support.zerodha.com/category/trading-and-markets/kite-web-and-mobile/articles/why-did-my-bank-nifty-option-order-get-rejected

    We can only see the total oi. Only the RMS of the broker knows the oi held by the broker specific. Plus , some other external factors considered by RMS.

    MIS orders are allowed most of the times on all current weekly strikes because as mentioned by you,the MIS positions have to be closed before market closing.
    However,there might be certain market conditions where zerodha might have to block even MIS orders in current weekly options. These technical things can't be predicted in advance . So ,you can keep yourself updated on the allowed range from the margin calculator page.

    Preferably,as Sujith Sir said ,you can place a test order to check the allowed range.

    Or ,as told in the article I mentioned,you can open a Orbis Custodial Account if you want to trade restricted strikes in Zerodha.
  • Prem
    @SRIJAN , @sujith

    Feel very helpless to hear that some of the things is still private and retailer don't have right to request for it.

    So, now there is only way to make order twice. First order to cjeck range via inputException and other order is to place order as per that range.

    Is Orbit Custodial Account allow trading via zerodha APIs?

    Kindly reply ASAP.
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