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Sensibull Review

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Sensibull Options Trading Platform Pros & Cons

Sensibull is an options trading startup founded by Abid Hassan, along with Abhimanyu, Rs 2.5 crores in it. The company has recently launched an 'Options trading platform' that promises to make Options trading easier and faster for small traders. The platform suggests a list of strategies based on a trader's market view. Further, it provides you with all essential information like trade, strike prices, risk, profit and loss potential etc. You can also compare different Option strategies to find the right one for you.

Sensibull Options Trading Platform- Plans, Pricing & Features

The platform is available in 3 versions- Free, Lite and Pro.

How Sensibull works?

Let's say you think Nifty will be up by 100 points in the next couple of weeks. You need to enter following details-

• Stock name- NIFTY
• View- Here you have 5 choices to indicate your market view. Select the most appropriate market view.
• Nifty Target- Enter the price you believe the underlying will achieve.
• Target Date- Enter the date by which the underlying will achieve the price target.

Hit 'Go' and you will be presented with a list of Options trading strategies appropriate for your market view along with profit potential, capital required, return percentage etc,. You can further know more on each strategy by hitting the 'Expand' button wherein you can know more about the number of legs in the strategy, risk and reward potential etc.

You can also filter the recommended strategies based on Actions- Buy or Sell and Expiry Date of the instrument.

The platform allows you to compare suggested strategies and assess the P&L at various scenarios. You can change spot, dates, IVs etc., of each strategy to pick the best strategy for your trade.

Once you have picked the strategy, you can place and order directly from the platform.

Sensibull also offers other useful features for Option traders like-

Event Calendar- The calendar focuses on the most important events, FnO results and global events, that can impact your trade and notifies you about the event risk across the site. It tracks macro events, as well as FNO results.

Predictive Securities Transaction Tax (STT)- It tells traders the likely STT charges on option contract expiring in ITM.

Option Analyser- It does a deep analysis of an Options contract with Option Greeks, Option Chain, Scenario analysis and trading P&L.

Futures Conversion and Implied Weekly Futures- It converts an option to relevant futures for your target day based on the given spot price. For Bank Nifty, as weekly Options do not have weekly futures contracts, it derives the implied weekly futures.

Enhanced Option Chain- The Option Chain gives you the entire OI buildup picture in a glance with great visualization. It comes with real-time Greeks, built-in events notifications, IV Percentile, PCR, etc.

Option Central- It helps traders to identify options trading opportunities by analyzing IV percentiles, OI Buildups, PCR, Events, Volume Breakouts, etc.

How to trade, buy and sell Options using Sensibull?

Sensibull options trading platform not only suggests you the best options strategies based on your market view but also allows you to trade and place your orders. Here's how to trade, buy and sell Options using Sensibull.

3 Steps to Trading Options in Sensibull

1. Log in and go to the dashboard. Enter your market view
2. Select the right strategy from various recommended strategies
3. Place an Option order and check the status of your orders

• Log in and go to the dashboard

Login to the platform using ID and password. You will be directed to the dashboard.

Here you need to enter your market view by-

1. Currently, Sensibull suggests Options strategies for NIFTY and BANKNIFTY. Select the Index you want to trade in.
2. Next is to select view. Here you have 5 choices- Not Above, Above, Between, Below, Not Below. Select the view.
3. Enter the target- the price you think Nifty would reach at the end of the expiry.
4. Select the target date. Here you will be given choices to either select the expiry date of the contract or set a specific date within which you think the target price would be achieved.
5. Hit the 'Orange' colored Go button.

• Select the right strategy from various recommended strategies

Once you hit the 'Go' button, the first thing you will see information on events that can affect your trade. The events can be expected policy announcements, corporate results, interest rate increase/decrease etc. It will also tell you the importance of the event and how impactful it is for your trade. So consider the events affecting your trade before going forward.

Next, you will be presented with a long list of recommended strategies as per your market view. For each strategy, you will get information on expected profit, capital requirement, returns rate etc.

To make your job easier, you can use the filters available on the left of your screen. Let's discuss the filters a little-

1. Premium- You pay a premium when you buy an Options contract and get premium when you sell it. So if you want to filter the recommended strategies based on 'paying' or 'getting' premium then untick the desired box and a narrowed list of strategies will appear.
2. Expiry- You can narrow the recommended options strategies based on expiry date also.
3. Strategy Types- This filter allows you to narrow your strategies based on your preferred strategy type. You can choose from 8 different strategy types.

In addition, there are 4 advanced filters-

1. Exclude (In The Money) ITM- If you want to exclude ITM option strategies then you can untick the box.
2. Protection strike distance- You can select a strike distance from the choices available and filter the suggested strategies. The strike distance is the difference between a BUY call and a SELL call.
3. ATM IV-IV means Implied Volatility. The system automatically selects the IV based on historical analysis and your market view. However, you can change the IV to filter your strategy list.
4. Under the Hood- If you want to know how the strategies were arrived at and their correctness then you can use the filter to know the construct or logic behind the strategies with data.

Once you have filtered the options strategies, you can then know more about each option strategy by clicking on the 'downward arrow' button available on the last column of each strategy.

Here you will get more information about a particular strategy including data on Option Greeks.

You can also compare various option strategies. Selecting the options strategies you want to compare by clicking on the box and then clicking on the 'compare' button appearing on your screen.

Place an Option order

You can place a BUY or SELL order from both individual strategy page or comparison page. Let's see how to place an order in sensibull from the strategy page-

To place an order, you need to enter 2 things- Order Type and Lot Size. And, then hit on the trade button.

If you wish to modify the order then you can do so by hovering on the trade you wish to change and a 3-dotted box will appear. Click on it and modify the details.

Click on the place button and the order will be sent to Zerodha's Kite. You will be taken to 'Your Order' page where you can check the status of your orders.

Sensibull Pricing

The basic version of Sensibull platform is available free of costs. However, traders need to pay a fee to access higher versions of the sensibull options trading platform. Sensibull Lite comes at an introductory offer of Rs 800/month while Sensibull Pro is available at Rs 1300/month.

Conclusion

Sensibull, the options trading platform does make life a lot easier for an Options Trader. The good thing about the platform is that it combines features of a strategy engine that recommends option strategies to traders with a trading platform that enables executing the strategy. It also makes executing complex strangle strategies like strangles, straddles etc., easier with a single click. In simple words, the platform cuts a lot of math and technical details to make trading simpler and easier.

Trading Platform Owner

Sensibull

Sensibull Charges / Fees

Sensibull Basic- Free Sensibull Lite- 800/month Sensibull Pro- 1300/month

This webpage provide review of Sensibull by Sensibull. Get detail info about Sensibull .

Read more about Sensibull

• Sensibull Review
• Sensibull FAQs
• Sensibull Shortcuts
• Sensibull Resource

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