Sensibull The Options Strategy By Zerodha

Posted on 1st Jul 2018
by Vijay Jain

Rated 4.5/5 based on 91 customer reviews


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About Sensibull

Sensibull is the Options Strategy Platform owned by Riskilla Software Technologies Private Limited. Sensibull has tied up with Zerodha to provide options strategy platform to Zerodha customers. Sensibull helps you create custom strategies to trade your view and visualize the P&L. It suggests you list of strategies based on your view and also shows the comparison between different strategies to choose the best fit for you.

It tells you which strike, which expiry, what is the maximum profit and loss to expect, ROI, the risk level, and so on. You can not only view strategies but also trade NIFTY Options, bank NIFTY Options, Stock Options, Currency Options using the platform. For platform usage, there are instructional videos and instructional text in every page of the platform. Sensibull helps you visualize your trades’ profit and loss under various scenarios with beautiful graphs. It helps you track your positions, help you do a scenario analysis of your trades. Call and Put Analyzer helps to simplify your decision on whether to buy a call or sell a put.

What is Options Trading and how to use Sensibull for Options trading?

Options is a tool for protecting your position and reducing risk. Like normal trading, there is a buyer and a seller in options trading. Options Contract is a type of deal or contracts between the buyer and the seller that gives the purchaser of the option the right to buy or sell a particular asset at a later date at an agreed price. To enter the options contracts, the buyer of the options contract has to pay a small amount to the seller which is called premium. The stock price listed in the contract is called the strike price.

Options trading can be done by two ways:

Call Options: “The buyer of the call option has theright, but not the obligationto buy an agreed quantity of a particular commodity or financial instrument(the underlying) from the seller of the option at a certain time (the expiration date) for a certain price (the strike price). The seller (or “writer”) is obligated to sell the commodity or financial instrument should the buyer so decide. The buyer pays a fee (called a premium) for this right”.

Put Options: Put options contract gives the buyer of the contract the right to sell the stock at a strike price by a specified date. This means the put option seller, upon expiry will have to buy if the ‘put option buyer’ is selling him. The party agreeing to pay a premium is called the ‘contract buyer’ and the party receiving the premium is called the ‘contract seller’.

How does Sensibull work?

All you need to do enter your market view on any stock or index and Sensibull will do it work and present all the possible strategies that you can apply along with profit percentage, capital required and return on investment for each strategy. By pressing the Expand button you can further know about more details like number of legs in the strategy and Risk and Reward percentage etc.

You can choose any of these strategies and directly place the order from the platform.

You can also filter the recommended strategies based on Buy, Sell and Expiry Date.

Important Features of Sensibull

  • Options Trading Strategy Builder
  • Call Option And Put Option Analyser
  • Nifty Option Chain
  • Bank Nifty Option Chain
  • Option Chain for Stocks on NSE
  • Open Interest Data of Nifty, Bank Nifty and Stocks,
  • FII DII Data
  • Options Trading Tutorials
  • IV, IV Percentile
  • Put Call Ratio
  • Implied Volatility of Options
  • Live Options Prices
  • IV Chain, Greeks, Breakeven,
  • Lots of educational content including blogs and webinars

Step by Step process on how to trade Options with Sensibull:

  • Select the Options trade you want to take.
  • Enter your Market View, Target and Target Date.
  • Apply various filters and Compare Strategies.
  • Select your Strategy from various strategies recommended to you on your market view.
  • Place an order and track your order.

Let’s see each step in detail

    1. Select the Options trade you want to take.

    First step is to choose the index or stock or currency you want to trade Options for. You can choose from NIFTY, Bank NIFTY, Stock or Currency for Options trading. It will be completely on your wish to choose the index or stock. Sensibull do not recommend any script or index.

    Sensibull-Option-Trading-Platform

    2. Enter your Market View, Target and Target Date.

    • Enter your view for any particular script or index by first selecting the connectors like not above, above, below, between, not below.
    • Then enter the target price at the end of the expiry as per your view for that particular index or stock.
    • Finally pick the expiry date in target date or any specific date as per your view and then press go.

    Note: Sensibull neither tell anyone what is their view on the market nor when to enter and exit a trade.

    3. Apply various filters and Compare Strategies.

    Before showing any strategy, the first thing you see on screen after hitting go button is the events that can affect your trade. It is very important to know what all events in the market can affect your particular view on any stock.

    Sensibull-Option-Trading-Platform-Events

    Next you will see bunch of strategies on the screen along with profitability, capital required, return on investment. You can also sort this in ascending or descending order.

    Sensibull-Option-Trading-Platform-Strategy

    Now on the left of the screen you will see a slider and various filters that can help you narrow down your search result based on your preferences. With the slider you can change the value or the target price of the index or stock.

      Filter 1. Premium:

      Get Premium: If you tick this, you will get all put trades.

      Pay Premium: If you tick this, you will get all call trades.

      Filter 2. Expiry:

      Narrow down your search result by choosing any expiry date given for the particular script or index.

      Filter 3. Strategy Types:

      Here you can choose any of the 8 strategies type of your preference for your stock or index.

    Sensibull-Option-Trading-Platform-Regular-Filter

    There are some advance filters also like Exclude ITM (In the Money), ATM IV (Implied Volatility), Under the Hood.

    Sensibull-Option-Trading-Platform-Advance-Filter

    You can also compare strategies in different scenarios to figure out which one is the best option for you. Is it going to be buy call or sell put. You can pick few of the strategies and compare it for its return on different scenarios by selecting the strategies and then hit the compare button.

    Sensibull-Option-Trading-Platform-Compare-Options

    4. Select your Strategy from various strategies recommended to you on your market view.

    If you press more for any strategy then it will show you insights of the trade like every day profit per lot, Greeks, risk, max profit, max loss. Also you can trade from this page only.

    Sensibull-Option-Trading-Platform-Strategy2

    5. Place an order and track your order.

    For any particular strategy you pick, you need to enter the lot size and order type (limit, market, MIS or NRML) and hit the trade button. This will send the order on Kite. You will be directed to the order page on Kite where you can track and modify your order.

    Sensibull-Option-Trading-Platform-Strategy-Order
    Sensibull-Option-Trading-Platform-Tracking-Order

Final Thought:

Sensibull is the state-of-art platform for options traders. Sensibull aims to make options trading safe, accessible, and most importantly, profitable for all. It makes traders life simple and worry-free. You don’t have to think of all the strategies for your market view on any particular scrip. You just tell your view to the Sensibull and they will do all the math in the back to give ready to use strategies. Having tie-up with Zerodha is the best part as the platform will get recognition and Zerodha clients will have the best platform for Options trading.

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User Comments

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1. Pratul Girotra  Jun 13, 2018 10:51:05 AM IST Reply
Nice article, Plase let me know how much sensibull cost per month?
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2.1. Nikhil  Jun 23, 2018 12:01:18 PM IST
Hello,

It is free till August 1 is what the website says. There is no official price announced yet.



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