Comment on Trading Q&A
commented on
24 Aug 2017, 12:17 PM
There is a restriction on Banknifty options strikes range due to a violation of broker level open interest of 15%. The range for today, Thursday, 24 Aug 2017 is 1.3%. You can trade option strikes plus or minus 1.3% from this ltp, which is +/- 300 points. If you’re placing a trade for a strike outside this range, your order is bound to get rejected.
Refer to this NSE link for more explanation on open interest violations.