Cover order (CO) on Zerodha

Mon, 11 May 2026 00:00:00 +0000

A cover order (CO) is a special intraday order type on Kite, Zerodha’s trading platform, that combines an entry order with a compulsory stop-loss order placed simultaneously. The mandatory stop-loss is placed as an SL-M (Stop Loss Market) order at the time the entry order is submitted. Because the maximum possible loss on the position is pre-defined by the stop-loss range, the exchange and broker can offer higher leverage (lower margin requirement) for cover orders compared with standard MIS intraday orders.

MIS product code on Zerodha

Mon, 11 May 2026 00:00:00 +0000

MIS (Margin Intraday Squareoff) is a product code on Kite, Zerodha’s trading platform, that designates an order as an intraday trade. Positions opened under MIS must be closed within the same trading session. If a MIS position remains open at approximately 3:20 PM, Zerodha automatically squares it off (closes it) at the prevailing market price. In exchange for the intraday restriction, Zerodha offers additional leverage over the CNC equity delivery product.

MIS is available for equity (cash segment), equity derivatives (F&O), currency derivatives, and commodity derivatives. It is the primary product code for active intraday traders on Kite.

Leverage on WebNotes

Cover order (CO) on Zerodha

MIS product code on Zerodha