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ICICIdirect Account Opening
ICICIdirect Neo Plan - Flat Rs 20 per trade brokerage (Intraday and F&O) + Free Account Opening + Get funds in 5 minutes from sell orders + Free trading tips. Open Instant Account Now
ICICI Direct OptionPLUS is an intraday product for Options Trading wherein you can place 2 orders simultaneously.
The first will be a market/Limit order for buying Options contract and the second order is placed to limit the loss on the position by specifying the Stop Loss Trigger Price (SLTP) and a Limit Price. The system automatically places the contract order at the limit price on reaching the SLTP price.
Example:
You buy NIFTY PUT trading at Rs 20 with a strike price of Rs 7000 in the expectation that the price will rise. However, in case the price falls, you would like to limit your losses. To cover your losses, you place a limit sell order specifying a Stop loss trigger price of Rs 15 and a limit price of Rs 10. Once the contract price touches or crosses Rs 15, the order gets converted into a limit sell order at Rs 10.
Steps to place ICICI Direct OptionPLUS order
Note that only selected contracts are available under the OptionPLUS facility.
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Topic: ICICIdirect Broker FAQs
FREE Intraday Trading (Eq, F&O)
Flat ₹20 Per Trade in F&O
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Suppose I have my NIfty CALL BUY order completed in OPTION PLUS. I want to sell this at a higher price than the BUY price. I have observed that it can be sold instantly at the market price. Pl explain to me in detail how it can be done, by pressing which buttons or keys, etc. Great thanks in advance.