The number of strike prices available for trading in options contracts for Cover and Bracket order are as mentioned in the table below.

Product Order Type                                No. of strike prices                                   In the money – At the money – Out of money
Options Index & Stocks CO & BO 8 – 1 – 8

You can now trade in 8 higher and 8 lower strike prices with respect to previous day’s closing spot price of the underlying. Please note that the availability of increased strike prices will depend on the liquidity of the contract.

Example: Let’s assume you wanted to trade in Nifty options CO/BO. If the closing price of Nifty Index was 8000 on Monday then the available strike prices on the next trading day (Tuesday) will be as given below.

Previous day’s closing price Total strike prices Strike prices above 8000 Strike prices below 8000 At the money strike price
8000 17 8050-8400 7950-7600 8000

Please note CO/BO are available for NEST, Sine and Spin users only.