Issue with OTM option orders

ramatius

Hi,
For the past several days, many NIFTY OTM option strike orders are not going through. The API is returning an error,

"Buy orders are blocked for this strike price due to [open interest (OI)](https://support.zerodha.com/category/trading-and-markets/kite-web-and-mobile/articles/why-did-my-bank-nifty-option-order-get-rejected) restrictions from the exchange. You can exit existing positions or place buy orders in option strikes within this range: 10700 - 11650 CE & PE"

But just after a minute when the user manually fires the same order (from kite web), it goes through.

Seen this repeatedly over last 2 weeks.

Any issue with the APIs?

Regards,
Ramakrishnan S
quantindia.in

themohammedfaisal

Hi @ramatius,

For the past several days, many NIFTY OTM option strike orders are not going through. The API is returning an error

Due to higher OI utilisation recently, the range has been more narrow which could have led to this error.

But just after a minute when the user manually fires the same order (from kite web), it goes through.

There is no distinction we make between API and Kite Web orders and the range allowed is the same. Our RMS team dynamically updates the range all throughout the day to ensure that we remain within the exchange's allowed OI. It could have been a mere coincidence that your order on Kite Web went through when the range was broadened.

ramatius

Thanks for the reply @themohammedfaisal

rishiajmera

Is there any way to check this before placing the order?

sujith

@rishiajmera,
You can check it here.