You are right. I mentioned this part earlier once. Problem is with smaller account if you have 1Lish.
Right. Different broker. Different pros and cons. 30 Day challenge thing will be counted as a con of every broker lol unless Guy has secured himself Aliceblue freedom plan when they offered.
So many people facing this OI issue, including me. Can you tell me why canāt this be a feasible solution:
Once a basket order is placed which includes a far OTM [restricted] option, system first checks whether there exists another balancing short position in the same basket [probably below this OTM option] which is sent for execution. If yes, then system does not reject this buy order and allows the basket to be executed.
I agree this does not cover naked buy positions but at least this way you could retain hedgers on Zerodha. I am tired of paying 3x brokerage every week I create a new position. @nithin @ShubhS9
Not as simple to do all of this in the order path of a customer order.
If delay in order path is a concern am not too sure about how that goes up as that far OTM order is anyway going to be rejected. Just the rejection logic would need to be tweaked to make it more inclusive?
Unless of course all orders in the basket are sent in parallel and not in sequence. Which I donāt think is the case here?
Looking at this from another angle, itās not a big deal for me if basket orders containing far OTM options have an execution delay of a second more than other baskets, if I am saving 2x brokerage on every order and donāt want to leave Zerodha just for this thing.
Also right now I have to fire that basket 3-4 times by clicking Execute-Reset-Execute-Resetā¦ which anyway is delaying my order execution manyfolds. [And this one is a major hassle if you ask me. One second delay is nothing when compared with this.]
Plus it brings back all users lost to other platforms to Zerodha as well. Hope Iām making sense.
I know what you are saying, we have thought about it quite a bit. If it wasnāt complex, we would have already done this, it is good for our business as well. I will once again bring it up with our tech team.
Itās better u leave leave trading. U canāt slove it. Itās sebi and exchange rule and no broker can give more than this percentage. If u canāt understand this basic rule I bet u canāt understand trading
Rules can be changed if the āforceā is stronger.
I created the position yesterday, and can see that you relaxed the far OTM restriction for fully hedged position yesterday.
However the same is reversed today, and the restriction reinstalled. Any reason why?
On expiry day there are no strike price restrictions for contracts expiring on that day.
No! I created position for the next expiry, not the current expiry.
Both yesterday and today, I created a position in 7th Feb expiry of Banknifty.
Now can you clarify why that happened?
Apologies, my bad. Since yesterday was budget, the allowed range was wider.
If you do change it for specific days, what is the problem with changing it permanently?
At least for fully hedged positions? Only if created from basket order?
Dhan I think has a major issue with margins. It blocks more margin that it should for the same position created. Have you faced it?
Apart from this small small UX issue become a deal breaker when you test a systemās limit. I faced so many such issues in Dhan.
Hi @paekut,
On budget days and other days with high implied volatility(election results, MPC, etc), our OI utilisation is lower than normal due to higher premiums and we are able to allow a wider range. I believe @ShubhS9 missed explaining this fully.
As a business, we want to allow all strikes to trade, however, we are limited as we can only go up to 15% of the overall exchange OI and manage the range accordingly to remain under.
We currently allow buying out-of-the-money (OTM) options if you already have a short position in another strike. However, enabling the purchase of options first in a basket order setup with lower initial margins is on our to-do list. Weāre working on it, but there are some limitations in our current OMS that are blocking this. Weāll keep you posted on any updates regarding this.
Thanks for the clarification Faisal.
Directly and indirectly, I am paying Zerodha ~1 lakh per month in brokerage. So I believe I can rightfully ask you about the date or at least the month in which you are going release this feature:
Enabling the purchase of options first in a basket order setup with lower initial margins
As this feature lets me reduce the brokerage to 1/5 of current, hope you understand that itās a make or break. If itās too far off sight, I can safely take a call to move out and [maybe] come back once you have it. Hope you understand.
Any update?