Must have tool if you use Zerodha for options trading

[Magnum007]

Yes, tried everything, nothing seems to work…

The version is Google Chrome
Version 91.0.4472.124 (Official Build) (64-bit)

Does 64 bit make any difference? Tried on brave browser too…same issue

[Amit_Rana1]

I am able to replicate it. Will fix. Some change happened in chrome so even edge wont work. Try in firefox

[Amit_Rana1]

There was a problem with one of the libraries. Fixed it. Please try v3.21 or the latest

worst case, you may have to uninstall the script completely and install new one if upgrading to 3.21 doesn’t work.

To upgrade simply click on this link https://github.com/amit0rana/betterOptionsTrading/raw/master/betterKite.user.js

[Magnum007]

Thanks @Amit_Rana1 …I think reinstalling has worked. I can see the some default options in holdings but will be able to confirm once I have some positions open…

Thanks for the very quick response

[abhiwin123]

First of all, this is super cool. And it is very neatly integrated. Great work.

Regarding the following -

@Amit_Rana1

Yes there is always slight difference in margin that we see in a ‘basket’ and what we see on ‘funds’ screen. I had long conversation with @siva (my guess) and below is my understanding why it will be different

1. Basket includes cost of buying an option, whereas used margin does not
2. After T+1 day Option premium received is added to ‘used margin’ (and ‘available cash’), whereas its removed from ‘final margin’ in basket
3. Daily MTM profit/loss also reflects in used margin.

We all would love to know the exact calculation so that we can know accurately but as it stands now its not possible.

But if you use margin calculation method, used margin is very near to what you see in funds screen. Basket method is almost 20-25% off at times but margin calculation method is very close.

This largely depends on your trading style. But to calculate this accurately, I use a term called “Real Cash”.

RC = OB - SOP

where,
RC => Real Cash
OB => Opening Balance from current day’s Kite > Funds
SOP => Short Option Premium from current day’s Console > Dashboard. This is useable only after Zerodha has updated previous day’s data which they are doing without fail.

I think LOP (Long Option Premium) should not be part of this equation as it is already directly accounted for in Available Cash. Replace Available Cash with this Real Cash and your deviation will reduce to less than 5%. If the user is selecting basket option, you can ask the user to manually punch in these two values from their kite funds and console dashboard to then accurately calculate basket margin.

Hope this helps.

[Amit_Rana1]

Launching on [betterKite](https://github.com/amit0rana/betterOptionsTrading/blob/master/betterKite.md) next week

Smart Limit : Finds best offer / bid price and adds or subtracts 05p (depending on buy or sell order) and places a LIMIT order on that price.

Override quanity Freeze: You can place big orders in one go.

Will launch this next week. watchout for v3.34+

[CoolBird]

@Amit_Rana1 amazing bro …will be waiting for this feature…thanks a lot

[Amit_Rana1]

this is live now, take the latest version.

1. you will have to enable the feature from settings, its disabled by default.
2. As a precaution, you will always get a confirmation before selecting ‘override quantity freeze’, once you are comfortable using the feature you can disable the popup.

[Ragavendran_V]

For quantities greater than freeze limit, does your script automatically send multiple orders such that the total quantity on all orders is cumulatively equal to the quantity entered by the user?

[Amit_Rana1]

Yes it does that. But I have enabled it only for nifty and bank nifty.

You can test it easily, by placing a Limit order. IF you are selling, make sure limit price is 50-60Rs higher than market. It will create pending orders

Once you get hang of it you will love combination of Smart Limit and override qty freeze

[Alex_R]

Gr8. What qty order is placed per order. If i wish to place 6000 qty Bank Nifty using this feature then how many orders will be placed in one go??

[Amit_Rana1]

We use 1200 for BankNifty, 1800 for Nifty.

Actually I will make it configurable in settings instead of system deciding.

Freeze quantity changes depending on index levels https://www.nseindia.com/products-services/equity-derivatives-nifty50

[Alex_R]

Can this extn be used on Edge browser or only Chrome compatible ? I stopped using Kite on chrome becoz of frequent refresh issues. Chrome tabs auto refresh after not using that tab for some time causing chart layout to be reloaded again and again.

[Amit_Rana1]

works on all browsers where tampermonkey works

I have used on edge, firefox, chrome, vivaldi. Safari (tampermonkey has to be purchased)

[Prateek_Malpani]

Thanks for the tool.

Can you please explain the smart limit feature in more detail

[Amit_Rana1]

Smart Limit
For a sell order:
It will get the top offer price and place a LIMIT order at 5p less

For a buy order:
It will get the top bid price and place a LIMIT order at 5p more.

Think of it like putting a LIMIT order at a price better than market price.

[Prateek_Malpani]

Thanks for the prompt reply

[Prateek_Malpani]

@Amit_Rana1
One more question, would it be possible to have an option to split the qty to map into different strategies.
For eg. If I have shorted 20 lots of 38000PE (15 for strategy 1 and 5 for strategy 2). Is there a way it would be possible to add 15 lots to strategy 1 and balance 5 to strategy 2.

Same issues is also there someone who buys OTM hedges for multiple strategies. Not able to split the hedge and add it to individual strategy

[Amit_Rana1]

No this is not possible.

[emrys11]

How about an option to increase the size of smart limit. Instead of 5 paisa, we could change it to 20, 50 paisa or even 1 rupee at max.
I place option sell orders just after market open around 9:16. Even 50 paisa higher order has a very high probability of hitting and it’s like positive slippage.