Yes, We provide you a wider strike price range for options trading and you can Buy/Sell Far Out of The Money (OTM) Options Contracts.
- Index Options – You can Buy OTM Options upto a range of 20% from the LTP.
- Stock Options – You can Buy OTM Options Strike prices upto a range of 10% from the LTP.
For Instance, Nifty Index is currently trading at 15000 (LTP) and as we mentioned earlier, the range restriction is 20% which comes to 3000 (15000*20%). So, you can trade in the strike price range of 3000 from the LTP of 15000 i.e., You can select the strike price between the range of 12000 – 18000 to buy the options of any expiry.
- Index Options – There is no Strike price range restriction to Sell OTM Options for Indices.
- Stock Options – A strike range of 30% is applicable for Selling OTM stock options.
Note: Deep OTM options are mostly illiquid (Low Volumes). So, we suggest you to use Limit Orders instead of Market Orders.