Sensibull - The Options Trading Platform


#1

Hello,
Here is the first look of Sensibull - the Options Trading Platform

What can Sensibull do for you?
Sensibull is an options trading platform. Let’s start with Feature Number 1

We will you give you the best options strategies to trade your view.

Let’s say you think Nifty will be up 200 points in 7 days. And you are not sure which option strategy is the best. Open Sensibull, tell us your view, hit the go button, and voila! You have it. You also have the Profit, ROI, breakeven, max profit/loss, and more.

For now, we have single leg options on Nifty and Bank Nifty. We will add multi-leg strategies and single stocks soon. Please be patient. We are beginning and already on the verge of becoming sleepless :slight_smile:

What else can we do?
Compare Options: You are confused between two or more trades. You can add them to compare and see the P&L at various scenarios. You can change spot, dates, IVs and pretty much everything to see the best option

Insights: We tell you about the rights and wrongs of a trade. To start with, we show the events that can affect your trade. We will add probabilities, technicals, FII activity, etc. soon. In short, we will make it very difficult for you to do a wrong trade.

How is it different from the other Option Strategy Engines?
One. We are not a strategy builder, we are an options trading platform. We do not just stop at making strategies and asking you to figure. We look at the trade you are taking holistically. This means we screen your view, warn you of events, show you the best strategies, give you insights on them, track them, and help you with the exit. We stay with you throughout the trade.

Two. We sometimes will actually ask you to not take a trade. For real:). More on that later.

Three: Most strategy engines make strategies for the expiry. We make a strategy for any day of your choice.

Four: Predicting IVs is a tricky business, and most engines are not equipped for this. Also, taking a call on IV is like predicting if the market will go up or down. A lot of people are paid to do that. I used to be :slight_smile:

So we help you with that dirty work. For every view you have, we figure out the most likely IV for that stock movement.

There are many more. I’ll stop here

What are some of our coolest features?
Predictive STT
If an option is likely to expire in the money, we price the option with the likely STT. This takes you as close to the actual pay-off as we can.

Option Analyser
If you want to analyse a single option, look no further. Oh, and this helps you with the age-old question - Should I buy a call or sell a put?

Futures Conversion and Implied Weekly Futures
Less known fact. Usually, the underlying for options is futures and not the spot. So, to simplify your life, we do two things. One, on Nifty and Bank Nifty, just give us the spot, and we will convert this to the relevant futures on your target day. Bank Nifty Weekly Options do not have weekly futures contracts. So we derive the implied weekly futures, which gives greater accuracy.

Under the Hood
If you have any doubt that our math is not adding up (which we are pretty sure won’t happen), you can go under the hood check it.

Apart from this, we have many of the usual suspects. IV Chain, Greeks, Breakeven, tonnes of educational content including blogs and webinars, etc.

Is there mobile support?
Analyser and option chain have mobile web already. We will have mobile support for the main app - Options Strategies - in a couple of weeks. Before 14th May market open you can trade from mobile as we will have a trade button on Option Chain and Analyser on Mobile.

What next?

  1. Multi-leg Strategies
  2. Single Stock Options
  3. IV Rank and Percentile - @anand3174 Sajan, Sreejith, if you are reading this, this is for you. Especially you Anand :slight_smile: , and we are really sorry to keep you waiting.
  4. Analysis of existing positions as multi-leg strategies. pay-off diagrams
  5. FII DII activity, OI analysis, and more
  6. Mobile App

Here are the key links once again:

  1. Options Strategies
  2. Options Analyser & Black Scholes Calculator
  3. Option Chain

We are in a super early stage, and it is still day 1 for us. We are rolling out more features one after the other. The experience is far from ideal, and there are a lot of rough edges. We are working hard to solve these. Please bear with us while we solve these problems.

Please let us know if you found a bug, if you have any feedback, or feature requests. We will pick it up as soon as we can. You can reach us at abid@sensibull.com

Thank You!


Tradesmart by Kotak. Attention Zerodha
Option Greeks in Zerodha Kite
#2

Hello @Abid_Hassan,
We are privileged to use the features which only Pros and institutions were using :slight_smile:
Cool features…
When reading through your post, I came across a point on implied futures. You mean to say that for any stock option contract underlying is futures contract ? Can you please clarify on that point.
TIA :slight_smile:
-Ram


#3

Thanks @Ram_mohan

Contrary to popular opinion, stock is not what is used as the underlying for options, futures are. So for June NIFTY options - June NIFTY futures are the underlying, May Bank NIFTY options - May futures are the underlying.

If you are trading Bank Nifty weekly options, there no weekly future. But you can derive a Weekly future price using Put Call Parity. So theoretically, if there was a weekly future traded, it’s price would respect the Put Call Parity Equation.

Equation reads C-P = D(F-K)
F = Future, K = Strike C= Call Price P= Put price
D= e^-rt where r = 6% (Repo Rate) t = 7/365 (this will be roughly equaly to one). 1.001 for 7 days

So practically, C-P = F-K. So to derive the weekly futures, we add C-P to the Strike.
Example:
17 May 26000 Call - 275, 17 May 26000 Put - 236, C-P = 39
K+C-P = 26000+39 = 26039. 26039 would be the theoretical future of 17th May

Of course, you need none of this for the single stocks or NIFTY. This is only for the Bank NIFTY Weekly options


#4

Thanks for the explanation @Abid_Hassan

NSE Site says the underlying is being traded in capital Market. which means spot , right ?

image


#5

Thanks for pointing that out @Ram_mohan.

Yes, that works in theory and text books. Option trading teams across the country use the futures price. That is the only thing which works practically.

A lot of text books also ask you to use the spot price and use r as risk free rate in the Black Scholes model. But that never gives you consistent prices. For example, when a stock future goes into discount instead of premium, does it mean negative interest rate? No, right?

Of course, on expiry it does not matter because spot and future prices become the same on expiry day


#6

Interesting. Good luck. Will definitely check it out.


What values have to be put in volatility and dividend for calculating option greeks in b&s option calculator?
How to get option greeks of open traded options on trading platform like pi etc.?
#8

Bang On ! @Abid_Hassan
I was trying to check what you have explained above :slight_smile:
image

Can you please help me with sources, where I can read more on this.
TIA :sunglasses:
-Ram


#9

@Abid_Hassan Can you/someone please tell me how i can use this for futures trading?


#10

Ram Can[quote=“Ram_mohan, post:8, topic:38762”]
Bang On ! @Abid_Hassan

I was trying to check what you have explained above :slight_smile:

Can you please help me with sources, where I can read more on this.

TIA :sunglasses:

-Ram
[/quote]

Oh this is lovely. Thanks a lot @Ram_mohan for illustrating this for the rest of the users. You can read my reply on this thread:
What are some good books on Options?


#11

Hassan - dont you think this is the key?

If I know this why will I use your platform. I think the platform reduces a huge portion of the work I do in excel (less than 1%). Other wise the holy grail lies in this “Nifty will be up 200 points in 7 days” which is 99% of the work! Isnt it?


#12

Hi @rbtj
It really depends on you. If you are an expert in the pay-offs, you would find that part simple. Also, all said and done, no platform on earth can be better than a super-pro experienced options trader with an excel sheet :smiley:

For some people who chiefly do Delta 1 (F/Cash) trading, directional view is everything. But there are so many things you can say with some certainty without knowing direction. Like NIFTY not going to fall 2% a week when there is hardly any event, etc. Or NIFTY is in a range. Or NIFTY is going nowhere.

With such a view, the whole Vega, Theta angle kicks in. And many people will find it a lot more easier if they can do without overloading their heads with the cognitive loads during trading hours.

Or that’s what I think


#13

Perfect, makes sense!

Just checked your portal and tried out a few features. Incredible work :clap: :raised_hands: Cheers! :slight_smile:


#14

Thanks a lot man :slight_smile:


#15

Nice work. It is good starting. One suggestion. Option chain is more convenient when you are able to see both puts & calls in same page. Some thing like in NSE site.

thanks,
Anu


#16

Thanks @sarniu

Passing this feedback to the designer. Tiny mobile screens forced this choice. We will figure out a way to show everything in one page. Thanks for the feedback!


#17

Hi,

Pretty good. But i’m getting an error saying ‘This authentication did not succeed’. No option to provide my username password as well. May you hep me please?

Thanks
Pradeep K


#18

@Pradeep_Kuppusamy can you please email me with your screenshot at abid@sensibull.com. Thanks for bringing this to our notice


#20

Any reason using .trade as domain while login??
https://kite.trade/connect/login?api_key=

Reason i asked because my antivirus block this thinking as phishing site hence authentication fails.

@Abid_Hassan


#21

@random4321
Hey Sam
That’s a great point. Thanks for bringing this it out. I’ll get back on this soon.


#22

Is it dynamic like all the parameters change during trading hours or this is static?