Sensibull is an options trading platform that simplifies the options strategy creation by suggesting multiple ways for your particular market view. This service provides the essential information like risk, volatility, and profit/loss potential before the customer enter the options trade.
Let’s take an example and understand it better: If the customer thinks that the Nifty will rise by 200 points in 14 days but the customer is not sure about the strategy.
Now here the need of Sensibull arises, the customer will go to Sensibull and will enter their market projections and then press the go button. It will create specific buy/sell option strategies with the details of profit, ROI, breakeven, max profit/loss for each strategy.
How does Zerodha Sensibull Work?
Sensibull is an independent start-up with its own options trading platform. It has tied up with brokers like Zerodha, 5paisa and Motilal Oswal to help the customers to trade directly on the selected options strategy from the platform instead of copying the strategy.
To receive the best options strategy, first of all the customer need to have a view for a particular stock or index. The view can be bullish (the stock prices will rise in the coming days) or bearish (the prices are going to fall in the coming days).
To get it better let’s take an example: suppose the customer thinks that Nifty will rise by 200 points in the next couple of weeks, i.e. the customer has a bullish view on the Nifty. Sensibull captures this view in terms of market levels.
Like, if the Nifty is at 9300 then you need to enter the following details:
The customer needs to choose a particular stock or index for which the customer wants to create an option strategy.
The customer has choices to indicate their market view like Nifty levels “Not above”, “Below”, “Not Below” and “Above”. Select the most appropriate market levels for the customer’s view. Like Nifty “Not below” 9300 or Nifty “Above” 9500.
Nifty Target level
Enter the price you believe the underlying stock or index will achieve. In our case (According to our example), it will be 9500 for Nifty.
Enter the date in which the customer thinks that the underlying stock or index will achieve the price target. It is 14 days from now (for the taken example)
After this the customer needs to press the “Go” button and Sensibull will provide you a list of options trading strategies in line with the market views.
Along with the Strategy, Sensibull will also show details like the profit potential, capital required and return percentage.
When the customer has selected one of the option strategies, then he/she can place the order directly from the Sensibull platform.
The platform is integrated with your broker terminal and places the selected trade directly without requiring you to key in the order details once again on the broker trading platform.
FEATURES OF SENSIBULL
1. Create option strategies: It helps you to create options trading strategies based on your market views. It also warns you of the upcoming events like GDP data, RBI policy and company result that can impact the customer’s strategy.
2. Easy order placement: After selecting a strategy, you don’t have to key in the individual’s buy/sell orders on your broker platform.
Sensibull has an integrated platform with your stockbroker. It prefills the order form and the customer just need to place the order for your selected strategy.
3. Compare Options: Just in case the customers are confused between two or more strategies than the customer can add them to compare strategies and see the profit/loss account in various scenarios.
The customer has the facility to change the spot, dates, implied volatility (IVs) and then finally select the best option strategy.
4. In-built Insights: Sensibull shares all possible events like a company’s corporate action like stock split, right issue, or ongoing buyback that could have an effect on your trade.
The insights also include details like the impact of GDP data, RBI policy and FLL activity.
5. Options Strategy for Any Day: Generally, strategy engines are available in the market suggestion option strategies for the expiry date.
However, with Sensibull the customer has the facility to trade options strategy for any day of your choice including for the option expiry date.
6. Option Chain: It offers the customer a visual picture of the entire open interest building in a glance for any stock or index listed with Sensibull.
On option chain screen the customer will have the fine details like the real-time Greeks, built-in events notifications and percentage or implied volatility and much more.
Login to Sensibull using Zerodha Kite?
In order to use the Sensibull option platform in Zerodha. The customer receives two methods:
A. Use the Zerodha Kite Login to access Sensibull Platform.
B. Use the Sensibull website and login with the Zerodha ID through Zerodha Kite.
1. Use Zerodha Kite Login to access the Sensibull platform
The customer can login in to their Zerodha trading account, as they normally do and then use the Sensibull application to access the platform.
The below mentioned step will help the customers to access the Sensibull platform.
• Login with the Zerodha Account by using Zerodha Kite.
• Enter the 2 factor PIN details to Login.
• Login to Sensibull app
Once you login, click on the apps tab on the top and scroll down to find Sensibull. Then, click on the Sensibull to get to their login page.
2. Use the Sensibull website and login with Zerodha ID
The customer can directly visit the Sensibull website and login into the Sensibull platform.
Once you click on the login page you will be prompted to select the customer’s stockbroker.
Select Zerodha and use your Zerodha Training ID and password to access the Sensibull trading platform.
After you login in the Sensibull, you will see the dashboard as shown below and here you the customer can create the watchlists, view the options position and orders. The customer now will have the access to various Sensibull tools.
Click on the watchlist tab on the top to create a watchlist. Click on the “Add” tab to find the options to add on the watchlist
Let’s say You are adding a Nifty Option
The customer will need to select the contract type from ‘future’, ‘Put’ or call option. The customer will also need to pick the strike price (the price at which the option will be exercised) and the expiry date.
Sensibull Option Chain
This option is a visualization of various options related numbers that are placed in an easy to read format.
The option chain collects the data like open interest build-up for individual stocks, Nifty and Bank Nifty, Implied Volatility figures and percentage and option Greeks like Delta, Vega and Theta figures.
To access the option chain in Sensibull click on “Dashboard” that is place on the side top of your screen.
Scroll down to find the Option chain (OC) tab. Click on the OC tab to access the Option Chain tool.
You will see the Sensibull Option Chain screen that you will see on your screen.
1. It shows the stock or the index for which the option chain details are reflected on the screen.
2. This segment contains the option expiry date details with the facility to change the date, latest trading price as per lot and show/hide the option Greek details.
3. The column lists the various strike price and the corresponding volatility details.
4. It shows the details of open interest for a particular strike price in lakhs and the percentage change in open interest.
5. You have the details of the option Greeks (Theta, Vega, Gamma) on the right-hand side rows for that particular strike.
Sensibull Pricing Structure
The platform is available in three versions- Free, Lite and Pro.
Pros and Cons of Sensibull Platform
• This helps in bringing the best strategy engine and trading platform.
• It is packed with essential features like Option Analyzer, Futures Conversion, Event Calendar and much more.
• It makes the complex strategy simpler with just a single click.
• It has a sleek and simple interface.
• The filtering of strategies based on the risk and reward is not possible.
• The traders need the good understanding of option strategies to optimally use the platform.
• The platform pricing makes it unsuitable for small and occasional traders to trade.
No, at present the investing in stocks is listed in foreign stock exchanges is not possible through Zerodha. If you are still wishing to invest in Apple, Google, Facebook, etc. then mutual funds are the easiest way.
Zerodha is completely an execution platform only. It does not provide any form of advisory or tips. We believe that traders and investors should make educated and informed trades based on the research and analysis.
Zerodha is an online discount brokerage model where only online trading services are offered to the customers or traders. It uses the latest and advance technology to serve its customers and has less branches and offices. The technology helps its customers to scale and reduce the operational cost which in-term helps them to maintain huge profits despite offering low-cost trading.
Yes, some of the services provided by Zerodha are free. It offers Mutual fund investment and brokerage free equity delivery trading. The brokerage fee for Intra-day and F&O trading is ₹20 per executed order or 0.03% (whichever is lower).
Zerodha offers the service to place AMO orders. These AMO orders are placed after the market hours for the next trading day in advance.
AMO (After Market Orders) allows the customers to place online buy/sell order before the stock exchanges are open for trading. The order timing for AMO order changes by the trading segment.
No. A customer can open only one trading account or demat account with Zerodha. You cannot open two trading accounts with same PAN number with Zerodha.
Note: You can open other trading or demat account with the same name and PAN number with other brokers. But this can't be done with one broker because of SEBI regulations.
LTT in Zerodha stands for Last Traded Time. The last traded time shows when a particular share or contract was last bought or sold. It helps the traders to know the demand for a particular share on that particular day.
If the customer wants to change the bank account that is linked with their Zerodha account. The customer needs to submit the 'Account Modification Form' with a bank proof document. The steps to change the Zerodha bank account are:
1. Visit the Zerodha website
2. Move to the 'Download & Resources' section.
3. Download the 'Account Modification Form'
4. Fill the form, sign it and get a print out.
5. Attach the bank proof documents like bank statements, cancelled cheque etc., along with the form and send it to the Zerodha Bengaluru office.
Yes. Zerodha offers trading in forex but as per NSE we can trade only in USDINR, EURINR, GBPINR and JPYINR in India with any stock broker. You can trade in currency derivatives at BSE and NSE exchanges using the Zerodha trading account. The customer needs to enable the currency trading segment before starting the trading in currency.
CNC stands for Cash and Carry. It is simply a product code and if you use them to buy and sell shares on the same day, they will still be considered as Intraday trade. NRML (Normal) is used for overnight trading for futures and options.
In Zerodha the customer has to open a demat account along with the trading account. It does not allow linking of its trading account with a demat account from some other depository participant (DP).
• You can have multiple demat accounts if you want on your name with different brokers.
• You can continue holding your Sharekhan demat account if you wish to do so.
• You could transfer all your holdings in the Sharekhan demat account to Zerodha demat account at the time of closing the Sharekhan demat account. It is a simple process.
The Margin for Zerodha is reduced across all the segments including Intraday at BSE, NSE and MCX on 2 January, 2019. It is in line with the new margin policy introduced by SEBI. As per the policy, the brokers cannot offer ab additional margin to customers. The margins are now prescribed by the exchanges and are the same across the brokers.
An individual need to have 3 accounts i.e. Trading, demat and a bank account. Zerodha offers trading and demat account services to its customers. Trading account is required to place buy & sell orders and the demat account is required to hold all the bought securities in electronic form. The trading and demat account of the customer are linked to their bank account.
Zerodha is safe as any other stock broker in India. It is a genuine and the trusted stock broker and comes among the lowest risk broker in India. It is a debt free company and they only offer broking services.
In the last 9 years, there is no single major violation has been reposted. Thus, it is the safest stock broker of India.
Yes, Zerodha favorable for long term investors. Zerodha offers the Equity delivery brokerage at free. It automatically brings down the trading costs thereby helping a lot of money in the long term. It also offers commission-free direct mutual funds that results in additional earning of 1% yearly.
You can place an MIS buy order in one exchange and the MIS short order in the other exchange. However, by the end of the trading day, both of these trades are required to be squared off individually on each exchange.
NFO stands for New Fund Offer. An NFO is the first time when a fund is offered for subscription by an AMC. The customer cannot invest in NFO through Zerodha Coin currently. However, you can buy NFO from the AMC directly.
All the orders will get squared off before the end of the day. IOC stands for 'Immediate or cancel'. It means that the order is executed as soon as it is released and in case the order fails to execute, then it is immediately canceled.
The Z Pin is the 4-digit telephone code. This is the customer’s personal identification number. This number is required to place orders through the call, trade desk and to raise support requests.
Whenever the customer will call Zerodha customer support or call & trade desk, he/she have to authenticate themselves using the Z Pin code.
Yes, Zerodha offers trading in foreign exchange (currency). The customers can trade in currency derivatives at BSE and NSE exchanges simply by using the Zerodha trading account. The customer is required to enable the Currency trading segment before he/she start to trade in the Forex.
Discount brokers are the brokers that offers only online broking services to its customers and at a very low-cost. Zerodha discount broker uses the latest computer technology to offer online trading services to millions of customers. The brokerage charge for discount brokers are usually less than the traditional full-service brokers. Zerodha is an online discount broker.