Hedged Margin for Straddle

shrirang0509
Hi, I wanted to
1) Sell NIFTY24JAN21450PE at Market and set a stoploss (Position gets sold if price crosses 100)
2) Sell NIFTY24JAN21650CE at Market and set stoploss (Position gets sold if price crosses 100)

I am placing a MIS order. How can I do that?

Do i need to place two short and two long (for stop loss) orders?
What are my other options? I want to minimize my margin requirements.

When I place two short and two long options, I do not get hedged margin or margin benefits. I have to pay full price for each and also pay margin for stop loss (long orders). (1.25 lakhs for each option)

Without stop loss, I am getting hedged margins (1.25 lakhs for one and 30k for the other)

As far as I understand SLM has been depreciated, right?

If I were to do it manually, I would place the orders and then click on exit position and add the respective stop losses and the documentation only mentions exit_order not exit_position.

Please help.

Thanks in advance.
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