Comment on ZT-Spread Orders

Dilip commented on 19 Jun 2014, 03:57 PM

Assuming NIFTY JUNE FUT LTP is 7557.00 and NIFTY JULY FUT LTP is 7591.00 and I put a Spread Order the way you explained in the article to sell at limit:

Buy – 1 lot – NIFTY14JUNFUT – 7555.00
Sell – 1 lot – NIFTY14JULFUT – 7593.00

1. How will the order execute? As you can see I need slightly more difference than what is being traded. Will it get cancelled immediately or wait for the day till these values have reached and if not get cancelled at 3.30 pm? Note that this is a SP order, not 2L.

2. Also I see that it DOES NOT allow to feed in the second order. Which means it allows to fill the Buy 1 lot NIFTY14JUNFUT 7555.00, but does NOT give space to fill the values for the Sell 1 lot NIFTY14JULFUT.

So should we consider that as soon as the buy order is filled, the sell order is executed at MARKET?

Please explain.

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