Can you please suggest me which broker allows to short banknifty options in cover order…I am looking as a hedge for BN future?
Thanks in advance
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Not sure which broker allows bank nifty option short with cover order, but you can execute your strategy by using NRML/MIS with zerodha.
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ICICI direct allows you to short 50 lot with just 30k inr with strict stop loss , but brokerage is 95 rupees per lot .
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Are you sure if they allow these many lots to short? Can you please share link if any.
Don’t think so…are you sure? You do trade with icici?
Thanks…
CO orders in BN options right?
Upstox.
I am sure because I use them on expiry trading.
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I trade everyday ,infact no brokerage if squared off within 5 minutes. its called OptionPlus orders, in this kind of order you need to place stop loss mandatorily and margin is calculated based on that stop loss .If you keep stop loss trigger of 5 points , they auto generate some limit price around 30 points away from it So final total loss can happen due to slippage is something like 20 (lot size) * 50 (lots) * 30 points = 30000 rupees . so its sufficient if you have only 30k, it varies but very less. But if you forgot to square off within 5 mins , u must pay 50*95 = 4750 rupees.
note : This is only intraday and they allow only liquid options in banknifty and nifty with more volume , but mostly all upto 6 or 7 near OTM is available to trade
Hi , never used CO order in upstox , what is the margin required to short 1 lot in CO in upstox ?
They don’t.
But it is possible. Here is how - The sub broker has to release margin. I am SB (Correct term is AP) in Angel Broking. They have a deposit from my side. So I can extend that as extra limit to any client I want from the backend.
Now I can also extend his margin thing if I talk with risk management team a day ahead. As it is intraday, the clauses are auto square off by 15:10 and a minimum margin which you need to make a deal with RM team.
Highest I am able to get is 3K margin per BN lot. Brokerage is per lot here. I set it at 20 INR which can do from backend module. (that’s minimum)
ICICI is no no.
Don’t forget the part if the client screws, it is the AP who gets screwed. Not broker.
What you mean they dont , i trade daily. pm me for more details.They have strict stop loss with trigger to limit range of 30 rupees , so no chance of slippage and thats why they allow only most liquid option to trade , u cannot place order in any options.
This is called cover order. It has insane leverage. My context is about normal intraday trade.
Yupe whatever name , they named is as option plus order.I am just wondering does upstox provide that leverage i am yet to try them.
Thanks Bro
I see you made 3334 INR from the screenshot but paid brokerage of 50*75 = 3750 INR (unless I am doing some mistake).
Leverage Depends. In orders like BO/OCO, CO. When your loss is limited, all full brokers are happy to extend to anything as they see they are safe.
If you just compete with leverage, you can not put discount brokers in the same competition with full brokers. They are sucking blood with 95 inr per lot stuff to afford this.
Zerodha/ Upstox keeps crashing without any reason. If Zerodha allows to do this, the only thing we will be able to trade is ATM strike prices 
and system will flood with Options LTP error.
I paid 0 brokerage , since i squared off within 5 mins , they provide bullet brokerage plan.Only drawback is it takes 2 mins to create one order with their interface , but i got something to handle it in fraction of seconds.
Bullet. 