How to place a spread order in Zerodha Trader Nest Terminal

Spread order entry Zerodha Trader Nest Terminal

Used to place the Spread Orders, Following three types of orders are available in it.

 

  1. Spread Order: Only one order either Buy or sell can be placed in this option.
  2. 2L: This option is use to place 2L order
  3. 3 L: Option can be used to place 3L orders

The multi leg order entry window allows the user to place spread orders between two scrips in NSE. The user can long-roll or short-roll any positions, and try to achieve the desired spread in this manner.

In the spread order entry window, the user must enter the following details:

B/S: In case of a spread order type, the user can select whether a given scrip
has to be bought or sold. If the first leg is required to be bought, the
second will automatically get set to be sold by default.
Inst Name: The user must select the instrument name for the scrip.
Symbol: The user must select the symbol for which the order is to be placed.
Op Type: The user must select the option type of the desired scrip.
Strike Price: The user must enter the Strike Price of the desired scrip.
Expiry Date: The user must enter the Expiry Date for the desired scrip in which he
wishes to trade.
Total Quantity: The total order quantity for which the user wishes to place the order for,
must be entered in this field.
Price: The user must enter the price at which he wishes to place the order. In
case the user selects the Order Type as:-
Spread Day: The spread between the two scrips selected must
be entered and not the individual price of scrips.
2L and 3L: The individual prices of the scrips selected must be
entered.
Market Lot: The market lot size for the selected scrip is shown in this field.
Exch-Seg: The exchange-segment for which orders are to be placed must be
selected here. The appropriate scrip details of instrument name, symbol,
option type, strike price, expiry date appear in the drop-down for these,
depending on the exchange-segment selected.
Order Type: The user must select the desired Order Type for placing the order. The
user can select the following Order Types:
Spread Day : This type must be selected to place spread orders
between two contract of same symbol, but different expiries. It is
commonly used to rollover existing positions, that is, to square-
off position in one expiry and create fresh/ equivalent position in
another expiry. The user simply needs to enter the information
for the first scrip, and select only the expiry date for the second.
As mentioned earlier, the spread or difference in price between
the two contract selected must be entered in the ‘Price’ field.
2L: This type must be selected to place 2-Leg orders for two
contracts. Both the legs of the order are sent together as one
order in case of 2L orders. The user can select any combination
of Inst Type, Symbol, Option Type, Strike Price and Expiry Date
to place 2L orders. In this case, the ‘Total Quantity’ and ‘Price’
entered are applicable to individual legs of the order.
3L: This type must be selected to place 3-Leg orders for three
contracts. All three legs of the order are sent together as one
order in case of 3L orders. The user can select any combination
of Inst Type, Symbol, Option Type, Strike Price and Expiry Date
to place 3L orders. In this case, the ‘Total Quantity’ and ‘Price’
entered are applicable to individual legs of the order.
Prod Type: The user must select the product type that is enabled for him, while
placing the order. The product type field is used for internal classification
as MIS, which is for intraday positions, or NRML, ARB, PMS which is for
carry-forward positions. This is significant from a risk-management
perspective.
Validity: The user must select the appropriate validity as ‘Day’ or ‘IOC‘. In case of
NSE, the validity for ‘Spread Order Type is Day’, and for ‘2L and 3L
Order Types, it is IOC’.
Pro/ Cli: This field will be set to Cli by default for an investor.
Client ID: This field will contain the client id of that investor client.
Client Name: This field will contain the client name of that investor client.
Participant Code: The participant code, if any, will appear in this field, corresponding to the
Client ID selected.
B-W-L ID: This field shows the Basket ID for the order, in case of institutional
baskets.

Related Post

World market timing accordist to IST WORLD STOCK MARKET TIME ACCORDING TO IST. Shanghai stock exchange  – Opens at 7.30 Am Hong Kong stock exchange -  Opens at 7.55 Am Tokyo stock...
Best Trading Platforms in India Best Trading Platforms in India The Indian capital market is developing every day ,and with more new platforms are entering the scene. So as a trader...
Order entry windows for Zerodha Trader Nest Termin... Order entry windows for Zerodha Trader Nest Terminal Order entry window Zerodha Trader Nest Terminal: There are two types of Order Entry window on...
How Does MCX commodity trading works? How Does MCX commodity trading works Do you think gold prices will go up further? Are you sure that crude oil prices are going to fall? Have you he...
How to trade Currency derivatives In India? How to trade Currency derivatives In India Futures Contract is a standardized exchange traded contract to buy or sell a certain underlying instrument...
How to use tools in nest trader? How to use tools in nest trader? Tools: This option is found while right-clicking on the market-watch and provides the user with short-cuts to acc...