In a trading session on Friday, a trader reportedly lost ₹78 lakh due to a fat finger error while trading a Sensex call option at the 67000 strike. This incident caused a significant swing in the premium within a few seconds before prices returned to normal. According to information shared on the social media platform Channel X, the trader accidentally placed an order to buy the Sensex call option at 67000, which was initially quoting at a premium of ₹4 to ₹5. The erroneous order caused the premium to surge to ₹209, resulting in the acceptance of all sell orders entered up to ₹209.
The trader’s losses were reported by the Channel X account SOAMJENA, which stated, “-80 lacs showing when profit should be +30 lacs approx, and their customer care has no idea about the limit order terminology.”
This incident followed a glitch leading to fat finger error on Zerodha, a prominent brokerage platform, that affected several traders’ ability to exit their Sensex call options. Zerodha acknowledged the issue, citing problems with internet service providers (ISPs), and assured users that trading in other segments remained unaffected. The platform apologized for the inconvenience and encouraged affected users to create support tickets for resolution.
Traders expressed their frustrations on Channel X, with some reporting losses due to the glitch. One user mentioned being unable to adjust or add new orders, resulting in losses. Another user questioned who was responsible for the loss when the premium they had sold had skyrocketed from 32 rupees to 230 rupees.
Such incidents highlight the risks associated with trading, especially in fast-paced and volatile markets, where errors or technical glitches can lead to substantial financial losses. Traders are encouraged to exercise caution and use risk management strategies to mitigate potential losses.
