Orders Basket – Explanation and Usage
Orders Basket is a multi-leg order execution feature that allows traders to place multiple option contracts of the same underlying (BTC or ETH) in a single basket. Traders can also include a futures contract of the same underlying along with the options contracts to create hedged or directional strategies. While multiple legs are typically created using options contracts across different strike prices, the futures contract can be added as an additional leg for hedging or directional exposure. All orders in the basket are placed together, and the system calculates the combined margin requirement before execution.
Important Clarifications:
- Orders Basket is currently available only for BTC and ETH underlying's.
- You can place orders using both Market Order and Limit Order in the basket.
- You can add multiple options contracts (calls and puts at different strike prices) in one basket.
- Only one futures contract of the selected underlying can be added to the basket, since futures do not have multiple strike prices like options. Therefore, multi-leg structures are mainly created using options contracts, while the futures contract is generally used as a hedging or directional leg.
- The system shows the combined margin requirement before you place the basket order.
Orders Basket – How to Use (Steps)
Go to the Option Chain section.
Click on Strategy Builder at the top.
Select the underlying (BTC or ETH).
Choose the options contracts you want to trade (Call/Put at different strike prices).
Select Buy or Sell and click on Add to Basket.
If required, you can also add one futures contract of the same underlying to the basket for hedging or directional exposure.
On the right side, you will see all selected orders in the Orders Basket panel.
Here you can choose the Order Type (Market or Limit), and set the price and quantity.
The Total Order Margin will be shown at the bottom.
Click on “Place Order” to place all orders together. Once executed, your multi-leg options strategy and/or hedged position will be opened.
The main advantage of this feature is that it allows you to execute multiple legs at the same time. This reduces execution risk and the risk of manual order placement. It also helps in faster and more efficient strategy execution, especially when you are trading multi-leg options strategies or hedged positions.