How to Close an Open Position on Delta Exchange

There are two ways on how to exit an Open Position

1. Place an order of the same size and the opposite direction.
2. Close the position from the Positions widget

Closing a position from the Position Widget

Once an order has been placed, the tab of open positions shows all the details of the order that has been placed. In the Positions widget, you will see the net amount of contracts you are long or short, quantity in each contract, entry price, and liquidation price and so on.

To the extreme right is the option of ‘Close Position’. A trader can choose between two options while closing an order:

1. Market Order
2. Limit IOC

Market Order is closing the position at the best available price. The greatest advantage of a market order is that the order will be immediately filled if there is enough liquidity in the order book.But execution price is not guaranteed and if position size is large relative to liquidity in the order book, you may incur slippages. Limit IOC stands for Immediate or Cancel. A limit IOC order can be executed partially or fully based on the available quantity, and the remaining lot is cancelled immediately. From the order book screenshot below, a trader wishes to buy 10,000 contracts at $9379.However, only 9901 are available at the price. Thus, the trader receives 9901 contracts are the remaining are cancelled. Click here to know more on Limit IOC orders.

Closing a position fully or partially

• *Once the trader has decided which type of order he wants to place, the trader then needs to decide the quantity of the contracts. The trader can wish to close the entire position or a part of it. Delta Exchange offers an inbuilt calculation which provides the option of closing 25%, 50% 75% or the entire 100% of your open position.

Open Orders may get cancelled

Delta Exchange offers Order Offsetting for open positions and open orders. Once a position is closed, open orders may require additional margin. In case, additional margin is not available for these open orders once the position is closed, the open orders are cancelled. Click here to know more on Order Offsetting. Follow the video to know more on how to close positions on Delta Exchange

1. Placing an opposite order of the same value

2. Closing the position from the position widget