Your orders in specific options and futures contracts may be blocked due to Navia's internal risk management policy. This policy is designed to protect traders from the risks associated with illiquid positions. Illiquid contracts can be challenging to manage because they may lack sufficient counter parties, making it difficult to square off positions. This can result in additional margin requirements and potential penalties.

Key Factors for Blocking Illiquid Options:

• Expiry: Contracts nearing their expiry date may be more likely to be blocked.
• Strike Price: Contracts with certain strike prices may carry higher risks and be subject to blocking.
• Volume: Low trading volume can indicate a lack of liquidity, leading to order blocking.
• Open Interest: Contracts with low open interest may be blocked due to insufficient market