No, you cannot place ‘Limit’ orders in the ‘Pick Strategy’ flow. You can only place ‘Market’ orders when using the ‘Pick Strategy’ flow tool in Upstox’s app.

Why Can Only Market Orders Be Placed in the 'Pick Strategy' Flow?

• Instant Execution

In ‘Pick Strategy’, multi-leg strategies are used, where all orders need to be executed at the same time for managing risk. Using ‘Market’ orders, your orders are executed immediately at the best bid and ask prices.

• Convenience

The ‘Pick Strategy’ flow simplifies your trading by grouping multiple orders of a strategy into a single market order. This enhances the execution of the orders, eliminating the need for manual calculations and placing orders individually.

How to use a ‘Limit’ order for Options Strategies?

If you wish to use a ‘Limit’ order for options strategies, you can build your own strategy in Upstox’s app. Here’s how you can build your own options strategies, so you can test and optimize your options strategies in a simulated environment.

Follow the steps below to create an options strategy on Upstox.

Step 1: Log in to your Upstox app, and open ‘Upstox for Traders’.

Step 2: Go to ‘My Lists’ at the bottom of the homescreen.

Step 3: You will see the Top 20 by Market Cap. If the company’s share you want to place an option strategy on isn’t on the list, click on the ‘+’ icon on the top right corner and add that company to your watch list.

Step 4: Once the company is added to the list, click on it. The company’s shares ‘Option Chain’ will open up with all necessary information like expiry date, OI, LTP, and volume, etc.

Step 5: Enable the strategy feature that is in the right corner. And add orders by tapping on strike prices.

Step 6: Tap on either the call side or the put side on a strike price as per your strategy.

Step 7: Your strategy order will open up. Select the Buy or Sell side with quantity and limit price.

Step 8: Click on ‘Add to strategy’. It will take you back to the option chain page. You can continue adding strategy orders.

Step 9: Once done, tap on ‘Continue’ and your order summary will appear. Swipe on ‘Swipe to place order(s)’ and your option strategy order is placed!