Guides
A growing collection of how-to guides and reference notes.
- Vega (options)
Vega is the option Greek that measures how much premium changes for a one-point move in implied volatility, largest for at-the-money and longer-dated options, and the reason premiums collapse in an IV crush after an event.
- Using an SL-L order as a de-facto SL-M on Kite
Traders set a wide limit on an SL-L order to mimic an SL-M, but a gap past the limit leaves it unfilled. This is why Zerodha removed SL-M on some segments.
- UPI ASBA supported apps and banks for IPOs
Which UPI apps and banks support UPI ASBA for IPOs, drawn from the NPCI live IPO partners list, and how to check the current list before you bid on Zerodha Kite.
- Trading is temporarily restricted on this contract or stock on Kite
A 'trading temporarily restricted' message on Kite stems from a volatility halt, an ASM or ESM price band, periodic call auction, a circuit limit, or a Zerodha illiquidity block.
- Time taken to list after an IPO closes (T+3)
How long an IPO takes to list after the issue closes: the SEBI mandatory T+3 timeline, day by day, from close to allotment, demat credit, and listing.
- Theta decay
Theta is the option Greek that measures how much premium an option loses per calendar day from time passing alone, accelerating near expiry, which is why option buyers are short theta and sellers long theta.
- The trigger and limit price mismatch error on SL orders
The trigger-and-limit-price mismatch error on Kite means the SL order's prices are the wrong way round: a buy SL needs trigger at or below limit, a sell SL needs trigger at or above.
- The stop-loss trigger price not within the exchange permissible range error
Why Kite rejects a stop-loss when the trigger and limit price gap exceeds the exchange permissible range: the LPP band, tick size, correct side of LTP, and a valid trigger.
- The role of registrars and transfer agents in the IPO process
A registrar to an issue fixes the basis of allotment, processes applications, runs the refund and unblock cycle, and publishes the allotment status. The framework is SEBI's RTA Regulations 1993.
- The quick order window on Kite
The quick order window on Kite is a stripped-down order ticket showing only Qty and Price, with an amount toggle and a pencil icon for limit price, for faster entry.
- The phaseout of Bank Nifty weekly options
Bank Nifty weekly options were discontinued from 20 November 2024 under the SEBI one-weekly-per-exchange rule. Monthly options and futures remain, expiring last Tuesday.
- The new order window on the Kite mobile app
Zerodha's redesigned Kite app order window adds amount-based ordering, an in-window margin and charges read-out, market protection, order slicing and remembered settings.
- The GTT notification flow on Zerodha
Zerodha emails and app-notifies you when a GTT triggers and places an order, and sends a push and email if that order is rejected. The fill itself is a separate event.
- The bank account linked with the UPI ID for an IPO
The bank account behind your UPI ID for an IPO must be your own, with enough balance, the funds blocked there under the mandate, same PAN as your demat. Why a third-party UPI fails.
- The 'technical issue with the exchange' message on Zerodha Kite
The 'technical issue with the exchange' message on Kite usually means an NSE or BSE side connectivity problem, not your setup. Switch platforms, wait, verify, and escalate if it cost you.
- The 'order cannot be modified as it is being processed' message on Kite
What 'order cannot be modified as it is being processed' means on Zerodha Kite: the order is in transit to the exchange, the modification lock, and whether to wait or cancel.
- STT on options exercise
Why securities transaction tax on an exercised in-the-money option is levied on its intrinsic settlement value, not the premium, how the post-2019 narrowing works, and why squaring off before expiry avoids the trap.
- Strike selection on the option chain
Strike selection on the Zerodha option chain means choosing a strike by delta, open-interest and volume liquidity, risk-reward, and the in-the-money, at-the-money or out-of-the-money tradeoff, read off the Kite chain.
- Stop-loss order
Stub article on Stop-loss order. A full encyclopedic entry is pending.
- Stock-option restrictions near expiry
Near expiry, Zerodha applies a physical-delivery margin ramp on ITM stock options from expiry minus four days, blocks fresh deep-ITM and illiquid stock options, and runs square-off-only windows.
- Stock SIP frequencies on Kite
How stock SIP frequencies work on Kite. Daily, weekly, fortnightly, and monthly cadence come from the dates you select, with holiday and insufficient-funds handling explained.
- Stock futures lot size on NSE
How NSE sets single-stock futures lot sizes to a roughly Rs 15 to 20 lakh contract value, when lot sizes are revised, freeze quantity, and where to check the current lot for any stock on Zerodha.
- Special pre-open session on IPO listing day
The special pre-open session on IPO listing day: the call-auction window that discovers the listing price, the equilibrium-price logic, and day-one price bands.
- Social Stock Exchange on Zerodha
The Social Stock Exchange on NSE and BSE: Zero Coupon Zero Principal instruments, who can list and invest, the minimum application, and applying through Zerodha Kite.
- Small-HNI vs big-HNI: the NII split in an Indian IPO
The NII category splits into small HNI, Rs 2 to 10 lakh, taking one-third, and big HNI, above Rs 10 lakh, taking two-thirds, after the 2022 SEBI reform with draw-of-lots minimum allotment.
- SL-M orders blocked on BSE (and discontinued for NSE F&O)
BSE discontinued SL-M (stop-loss market) orders across all its segments, and NSE withdrew SL-M for index and F&O contracts, both to curb freak trades. Use an SL-L order configured to act like SL-M instead.
- Sharing baskets on Kite
A Kite basket is shared as a downloadable .JSON file exported from Kite web; the recipient imports it into a new basket and edits or executes the legs.
- Sensex weekly expiry on Zerodha
Sensex weekly options are BSE's surviving weekly index benchmark, expiring Thursday since 1 September 2025, with a lot of 20, listed on Zerodha Kite under BFO.
- Self-trade prevention and its effect on cover orders
NSE's self-trade prevention check cancels one of two orders that would match against each other under the same PAN, including a cover order's stop-loss leg, to prevent a wash trade.
- Risks of F&O trading on Zerodha
The real risks of futures and options on Zerodha: leverage, unlimited loss on short options, gap risk, margin calls, physical settlement, and the SEBI evidence that most retail traders lose money.