Comment on Calendar Spreads

sha navas commented on 28 Jul 2018, 11:04 AM

Hi,
I have two issues.
First is when I try to close an open short position of an option and try to move to another strike, I am not allowed to do so. Orders don’t get executed. I have explained with an example below.

At the start of the last week (20th Jul 2018), I had sold BANKNIFTY 26th Jul 26300 PE. On Tuesday, 24th I exited that position. Order got executed. Immediately I tried to sell 26400 PE of same series but order didn’t get executed. I tried repeatedly. I didn’t work. Then I tried selling 26500 PE of same series but to no avail. Then I tried 26600 PE of same series. It got executed.
Why I am unable to close an open position and take up another one immediately. The reason I got for order rejection could not be comprehended by me.

Second issue happened yesterday, 27-07-2018. As sson as market opened, I tried elling BANKNIFTY 2nd Aug 26800PE. I didn’t get this in the search filed available on KITE. I was getting CE options only, whereas I wanted to sell a PE option. I got BANKNIFTY AUG 26 PE option that has expiry in Aug 2018, without date mentioned. May be it was a PE option that expires on the last trading day of Aug. I tried executing the trade fro my laptop. Even on laptop I didn’t get BANKNIFTY 2nd Aug 26800 PE for selling.
Because I could not execute the trade I wanted yesterday, I lost a profit of around Rs. 800. What would have been the loss if I trade in high volumes?
Please don’t suggest making telephone calls on such occasions. I won’t be in a position to make calls.

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