Option Plus in ICICIDIRECT for BankNifty

shadowgold · February 5, 2020, 4:51am

In ICICIDirect, for selling Option for BankNifty I can Utilize only PremiumXLotsizexLots amount as Margin in case of OptionPlus,
If its provided in Zerodha also it would be fine.

For selling 5 Lots of BankNifty in OptionPlus with Premium 93, I spend only 93x5x20 = 9300.
But in BO on Zerodha I have to spend margin of 77000.

siva · February 5, 2020, 5:15am

Leverages will go soon, can check this for more.

shadowgold · February 6, 2020, 5:50am

Very sad to hear that, But still ICICIDIrect is providing OptionPlus and Futures Plus StopLoss feature that are useful for low margin holders.
With Just 8K to 10K Margin one can sell Options and trade Futures also.

siva · February 6, 2020, 5:53am

This has to be stopped from April 1st.

shadowgold · February 6, 2020, 5:54am

Hi Siva,
Are you online always?? You are too fast to answer.

Sharmarohit · February 6, 2020, 1:35pm

I can’t understand one thing , still SEBI hasn’t taken decision ,then how do you know ???

siva · February 6, 2020, 2:13pm

Nse has already released circular to all brokers,check this thread from beginning.