How can I square off an open position which is part of spread position when I do not have enough trading limits to place a cover order?
In case you have a Spread Position and wish to square off the positions, you will be allowed to place cover orders independently for each position one by one only if you have sufficient margin to meet the Initial margin requirements of the position which remains open after one of the position has been squared off. In case you do not sufficient margin as required above, you will have to square off both Buy as well Sell position that are forming spread position. Facility to place such an orders is available in Open Positions page against the respective net position at underlying – group level in the form of a link called “Joint square off”. This joint square off link is different than square off link available against each contract position. On clicking the same, position in all contracts within spread definition would be displayed. You can then specify the quantity for any two positions. One has to be buy and other should be sell. Your square off orders will be placed at Market Rates.
Related Questions
- How can I square off an open position which is part of spread position when I do not have enough trading limits to place a cover order?
- How to square off open position which is part of spread position and there is not enough trading limits to place a cover order?
- What happens on expiry or square off of any one of the contracts forming the spread position?
