It is prudent to place a stoploss while taking trades, especially when trading options given how risky they can be. Learn more .

We have now started nudging users to place a GTT (Good Till Triggered) stoploss right when buying options (index options to start with). If you are buying Nifty calls at Rs 50, the order window will prompt you to enter the GTT SL price while placing the order.

You can choose to uncheck the GTT SL option to proceed to buy options without an SL order, but we hope most users will enter an SL price.

If you aren’t sure about how much Stoploss % to keep, a good number is between 5 to 10%. If you can get out of a position before the loss gets too big to accept, you can avoid the temptation of averaging down, which is a sure-shot route to capital destruction.

This SL is longstanding and is valid until cancelled. We have started this on Kite web and will be available on Kite mobile soon. Read this to learn more about placing stoploss using GTT. The one thing you need to make sure of with GTT is to cancel any open SL or Exit GTT orders when you exit your positions directly to avoid extra positions in your account.

While we will continue to focus on educating traders through Varsity , we believe that we can do more as a broker with our tools like Nudge. We are attempting to see if we can meaningfully alert traders to be more cautious when buying options. Check this Zconnect post for the list of things we are doing.