Hello traders,
This is my first post. The forum has been a great source of learning, till date. I need your help in understanding the concept of CTD (Convert to Delivery) with icicidirect.com
Here is the situation:
13 Feb 12: On margin trading, I bought (BUY) Pantaloon's shares at various prices ranging from 176.75 to 179.5. During the course of the day, I saw that the price dropped and beyond my loss-taking ability. I sold (SELL) few shares, but the loss was mounting. Hence, I converted (CTD) 500 shares to delivery. The price range on that day was 184.3 - 176.3.
16 Feb 12: On margin trading, I went long (BUY) or short (SELL) on Pantaloon at various prices ranging from 197 to 190.74, on multiple counts. I did NOT convert any share to delivery.
17 Feb 12: On margin trading, I went long (BUY) or short (SELL) on Pantaloon at various prices ranging from 200.6 to 189, on multiple counts. I did NOT convert any share to delivery.
Today, when I checked my Equities, under "Trade & Invest--> Portfolio--> Equity", it shows that the average buy price of my 500 shares is 197.44. The day I used the CTD option, the price never touched 197.44.
What has happened here? How did icicidirect.com put a price tag of 197.44 to the 500 shares? Any explanation would be grateful.
TIA,
dhoka
This is my first post. The forum has been a great source of learning, till date. I need your help in understanding the concept of CTD (Convert to Delivery) with icicidirect.com
Here is the situation:
13 Feb 12: On margin trading, I bought (BUY) Pantaloon's shares at various prices ranging from 176.75 to 179.5. During the course of the day, I saw that the price dropped and beyond my loss-taking ability. I sold (SELL) few shares, but the loss was mounting. Hence, I converted (CTD) 500 shares to delivery. The price range on that day was 184.3 - 176.3.
16 Feb 12: On margin trading, I went long (BUY) or short (SELL) on Pantaloon at various prices ranging from 197 to 190.74, on multiple counts. I did NOT convert any share to delivery.
17 Feb 12: On margin trading, I went long (BUY) or short (SELL) on Pantaloon at various prices ranging from 200.6 to 189, on multiple counts. I did NOT convert any share to delivery.
Today, when I checked my Equities, under "Trade & Invest--> Portfolio--> Equity", it shows that the average buy price of my 500 shares is 197.44. The day I used the CTD option, the price never touched 197.44.
What has happened here? How did icicidirect.com put a price tag of 197.44 to the 500 shares? Any explanation would be grateful.
TIA,
dhoka