Are Good Till Triggered (GTT) orders available for futures and options (F&O) contracts?
Yes, GTT orders are available for F&O contracts. Since F&O contracts have an expiry unlike stocks, there are some things you need to keep in mind when using GTTs for F&O.
- The price you've set for the GTT may be outside of the execution range for F&O contracts. In such cases, the order will get rejected due to this reason. You are required to cover any costs arising out of such cancellation.
- If you place a GTT for a contract that isn't allowed for trading by Zerodha, the order will get rejected when it is triggered.
- The onus to check for any pending GTTs for a scrip before placing another order is on you.
- GTTs for a contract are only valid until expiry. If you have a GTT for a contract that expires, the GTT will also expire.
- GTTs for stock F&O contracts may be cancelled if a corporate action directly affects the lot size or price.
- Stock F&O contracts come with compulsory physical delivery. So if you have a GTT that leads to a position in a stock F&O contract, you may end up with a physical delivery obligation in case the contract expires. In such cases, you will have to give or take delivery of the stocks.
- If a GTT closes one side of a hedged position, the margin requirement for your portfolio may go up. In such cases, our risk management team can square off the position at any time.
- GTTs for index F&O contracts are cancelled any time there is a change in the lot size for the contract.
- GTT orders aren’t available for the Currency segment.
- GTT is completely free and there are no additional charges for using it.