How to Execute Options Trade with ICICIdirect.com



Comments

  1. The Options platform in ICICIDirect is almost useless. So is their HELP calls.
    First, the option trading platform has been designed by someone who has never traded options. It is more like a stock order rather than options.
    We cannot successfully view both call & put side by side to examine put-call parity & arbitrage opportunities.
    I tried opening a credit spread position, I had to place 2 trades; so options strategy selection (the bread & butter of an options trader) is completely missing.
    Margin calculation is typically idiotic. I had a synthetic (because the platform does not support strategies) credit spread option with a max exposure of INR 21K. My margin requirement was only calculated on the short position with a margin of INR 150K!! Apparently, it does not / cannot consider the buy leg that reduces my exposure. The basic capabilities in options trading is missing.
    I could not find any Greeks or Expiry probabilities in the options chains. Also missing is implied volatility calculations. They want me to sit with the Black-Scholes formula to calculate everything. The biggest reason option traders trade is to gain from IV deviations, the site has not been designed to support even the basic options trading capabilities.
    Tried to call their HELKPDESK; after 1 hour, I failed to even let the helper understand what my queries are. The helpdesk is completely unaware of options trading & have not had minimum level of training. Infact, the folks who have designed the site may have had very very limited exposure to options trading as a profession (yes, it is a healthy profession with lot of profit potential & very limited risks, much less than stocks).


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