FREE Account Opening + Zero AMC Fees* + MutualFund SIP1
Loading...

Zerodha Sensibull Option Trading Platform Review, Features, Charges, Login

Rated 4.5/5 by InvestorGain

Zerodha Sensibull Option Trading Platform Review

Sensibull is the first option trading platform in India. Trading in options is highly profitable but it’s risky too. To be profitable, traders require the right option trading strategy and proper analysis. Zerodha has tied up with Sensibull to help option traders to buy and sell option contracts on the platform.

If you trade in options, Sensibull by Zerodha helps you to analyze option chain data, open interest analytics, get ready-made options trading strategies, create your own option strategies, and a lot more.

Let’s go deeper to know how to trade in options with Sensibull, what are the charges to use Sensibull Zerodha Software, top features, and more.

What is Sensibull in Zerodha?

Sensibull is India’s first and largest platform for option trading. To assist option traders, Zerodha has integrated with a third-party Sensibull platform to provide users with all the features for trading in options.

Sensibull by Zerodha platform provides traders the facility to buy and sell options contracts. To use the platform, you just have to open a Zerodha Demat and trading account. Once opened, you can use the platform using your Kite credentials.

Zerodha Sensibull Option Trading Platform Features

The Sensibull platform has a lot of interesting features for options traders to help you be a profitable options trader. Check out the important features offered;

  1. Multiple Option Strategies

  2. You just need to select your choice of options contract and set the target on the Sensibull strategy wizard. Once set, the platform will provide you with multiple smart option trading strategies. You are free to pick any strategy of your choice to trade in options.

  3. Open Interest Analytics

  4. Get real-time open interest data like Call option OI, Put option OI, change in open interest, and Put-call ratio (PCR). Options traders can analyze open interest data to predict market movement.

    Sensibull also provides Multi-Strike OI data with the most active strikes to spot the trend.

  5. FII DII Data

  6. You can keep yourself updated with the FII and DII activities in the market as sensibull provides data on FII Call, FII Put, FII Future OI, and change in OI, FII DII cash activities. It helps you predict future market trends whether bearish or bullish.

  7. Live Option charts

  8. Sensibull by Zerodha provides option charts like Implied Volatility (IV) chart, OI – futures & options chart, OI change – futures & options chart, PCR, etc. You can also check multi Straddle-Strangle charts or multi-strategy chart that helps to create and execute right option trading strategy.

    Volatility, option chain strike prices, put call ratio, etc. are important factors to know how volatile a stock is and making the right trading decision accordingly.

  9. Create Option Strategy

  10. Sensibull by Zerodha platform allows you to create a customized options trading strategy based on your view on the market. It also updates about upcoming events that can affect your trading strategy like the company’s result, economic data, RBI policy, etc.

  11. Stock Data

  12. Get all the stock data including full option chain, call LTP, put OTP, call OI, Put OI, etc.

  13. Technical signals

  14. The stock keeps traders updated with technical signals like candlestick patterns, and important daily moving average levels like 50 DMA, etc. on daily, weekly, and monthly charts.

    Technical signals assist traders to predict that at what is the expected price level, a stock can go in the future.

  15. Option Screener

  16. Use option screener using filters like sector, expiry, bullish and bearish OI scan, IV range, PCR range, OI % change, and more. It helps you select the right option contract to trade.

  17. Tools

  18. There are many tools on Sensibull Zerodha like price calculator, stock market calendar, IV chart, and more. The calendar shows all the upcoming events like inflation rate, industrial production data release, GDP growth rate, retail sales, etc.

  19. Virtual Trade

  20. If you are new to option trading, practice trading in options without real money using the virtual trading feature on Sensibull.

  21. Place and execute trades

  22. You can buy and sell option contracts on Sensibull and track them in the “order” tab that shows all the open orders and executed orders. Traders can even modify the orders placed through Sensibull.

  23. Basket Orders

  24. You can place multiple orders at the same time using Basket order which allows users to place simultaneous trades and get good returns and manage risk as well.

How to trade in Options with Sensibull?

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.

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 of 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.

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

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.

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

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

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.

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.

Zerodha Sensibull Charges

Sensibull is a great platform for options traders but is it free of charge or a paid platform? Sensibull has 3 pricing plans, you can choose any one that satisfies your requirement.

  1. Zerodha Sensibull Free Plan: You can avail of basic Sensibull features by using the platform for free. The feature includes basket orders, stock data, real-time prices, basic option chain, option price calculator, watchlists, event calendars, and WhatsApp alerts. Advanced features like option screener, option Greeks, charts, etc. are not available in free version.
  2. Zerodha Sensibull Lite Plan: Along with all the plans available in free, you also get access to some advanced features like virtual trades, strategy wizard, FII DII data, Real-time P&L and Greeks, and option Screener. The plan is available at a monthly charge of Rs 800/month.
  3. Zerodha Sensibull Pro Plan: If you want to access all the features of Sensibull, subscribe to the Pro plan. The plan allows option traders to create customized option strategies, analyze option trades & positions, get advanced option chains, get technical signals, and view open interest charts, live option charts, and multi-straddle-strangle charts. You can subscribe to the Pro Plan by paying Rs 1,300 per month.

Zerodha Sensibull Login

Zerodha has single sign-on model where any Zerodha user can use kite login credentials to access any platform. You can log in to the Sensibull by Zerodha using your Kite user ID and password.

Zerodha Sensibull Pros and Cons

Pros/Advantages Cons/Disadvantages
  • Sleek and easy to use interface
  • Power packed features including Option Analyzer, strategy builder, advanced option chain, etc.
  • Create your own trading strategy
  • You can even learn option strategies on Sensibull
  • Virtual trading can be done
  • You must have basic knowledge of option trading to use Sensibull
  • It is not a platform for occasional traders or beginners
  • Advanced features are available in Lite and Pro premium plans

Zerodha Sensibull Review: Final thoughts

Sensibull makes options trading segment quite simple and easily accessible. The features available on the platform enable option traders to select the right option contract and also the right trading strategy to place and execute profitable option trades. Zerodha Sensibull assist option traders to understand the market dynamics, predict stock price movement in future, and execute the right trading strategy.

Zerodha Trade@20

Want to start your investment journey, join India’s Pioneer Discount Broker – ZERODHA – Free Delivery Trade, Maximum Rs 20 for F&O and Intraday, Free Direct Mutual Fund investment.Open Zerodha Account

Last updated on 6th Jul 2023

FAQs

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 contract 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 the premium. The stock price listed in the contract is called the strike price.

Options trading can be done in two ways:

  • Call Options
  • The buyer of the call option has the right, but not the obligation to 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 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".

Sensibull allows placing options order based on the strategy you choose. All you need to do enter your market view on any stock or index and Sensibull will do its work. It presents 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 the number of legs in the strategy and Risk and Reward percentage etc.

You can choose any of these strategies and place the order from the Zerodha Kite platform. You can also filter the recommended strategies based on Buy, Sell and Expiry Date.

 

 


User Reviews

1. Pratul Girotra Jun 13 2018 11:51:05 AM Reply
Nice article, Plase let me know how much sensibull cost per month?
2.1. Nikhil Jun 23 2018 01:01:18 PM
Hello,

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