Why can't market orders be placed for certain index and stock option contracts at Tradejini?

Market orders on Tradejini are limited for certain contracts due to liquidity concerns. Illiquid contracts may have bid/ask prices with significant gap and may differ from the last traded price. Placing market orders without considering these bids/asks can result in unfavorable trade execution and potential losses.

To address this, SLM orders are blocked for illiquid index options and all stock options as they are discontinued by the exchanges.For FinNifty, MidCPNifty, Sensex, and Bankex, market orders are permitted only for option contracts with an Open Interest (OI) of over 500 lots or 20,000 quantities.

Market orders can be placed for Nifty and Bank Nifty options with sufficient liquidity in the current and next week and the current month’s expiries. However, market orders are blocked for weekly expiries other than the current and next week, monthly expiries other than the current month, and deep ITM (in the money) contracts exceeding 5%.