What Is Sensibull Option Chain? A Comprehensive Guide

What Is Sensibull Option Chain?

Table of Contents

What Is Sensible Option Chain?’ The question is making rounds on the Internet these days. And when we searched for the term, we found nothing but confusing answers. So, we’ve come up with a comprehensive guide to the Sensibull option chain. Let’s start!

Option trading is probably the best way to make easy money, but what makes it challenging is the scarcity of the best & reliable options trading platform India.

As an options trader, you might have gone through various trading platforms. While some offer an easy-to-understand interface, others are still quite complex to trade with. So let’s introduce a platform that provides a one-stop solution to all these problems: Sensibull.

Sensibull Zerodha is one of India’s first Options Trading platforms, specially designed to simplify the trading experience by suggesting numerous strategies depending on the trader’s market view.

Still, wondering What is Sensibull option chain? How does it work? Or How to trade with Sensibull? In this comprehensive Sensibull Review, we will discuss everything you should know about this options trading platform India.

What Is Sensibull Option Chain? 

Sensibull is probably India’s first and best options trading platform that gives users access to various crucial trading tools. The platform was created in 2018 by Abid Hasan.

As part of their Rainmatter Program, Zerodha provided Sensibull with a seed investment of 2.5 crore INR. It is currently integrated with brokers like Motilal Oswal, Angel Broking, ICICI Direct, Zerodha, Alice Blue, 5Paisa, and IIFL. The platform was created with the goal of empowering small-time traders to outperform powerful institutions.

Additionally, Sensibull on Zerodha Kite offers excellent tools to optimise the trades. It helps the investors by providing all necessary information about the investment, such as volatility, risk, and profit or loss, before starting Options Trading. It aims to offer investors a safe trading platform with the highest virtual safety and profitability.

How Does Zerodha Sensibull Work? 

Sensibull Option Chain is an enhanced version of the Sensibull Option Chain analysis that options traders and investors may use to gauge the state of the market. The platform suggests a range of options trading strategies depending upon the trader’s view of the market.

Let’s understand it with an example: Suppose you predict that the market will increase by 300 points this week but are unsure how to implement a bullish strategy. Then, you must enter your market view data in Sensibull and press the “GO” button.

It will offer several strategies you might employ based on your viewpoint and all the relevant information for each plan, such as breakeven points, maximum profit or loss, and ROI.

Sensibull Option Chain: Pros & Cons 

As with many advantages and features, the platform has some drawbacks too that can’t be ignored. So, here’s a list of pros and cons of Sensibull by Zerodha

Pros Cons
Best Platform for Option Trading Doesn’t Support Upstox Strategy Builder
Offers Advanced Sensibull Strategy Builder
Virtual Option Trading
Cost-Effective Option Trading App India
Integrated with Popular Brokers
Simple User-interface

Sensibull Plans and Pricing? 

The Zerodha Sensibull provides a 7-day free trial to all users, followed by upgraded plans that start from Rs 800. Currently, the platform offers 3 types of plans.

Here’s a breakdown of all plans and Sensibull pricing: 

Features Free Sensibull Plan Sensibull Lite (Rs 800 Per Month) Sensibull Pro (Rs 1300 Per Month)
Option Chain Yes Yes Yes
Event Calendar Yes Yes Yes
Strategy Wizard Yes Yes Yes
Research Yes Yes Yes
Basket Orders Yes Yes Yes
Buy-Sell Data Yes Yes
Multileg Strategy Generator Yes Yes
Compare Options  Yes Yes
Options Central  Yes Yes
Real-time Profit and Loss + greeks of the strategies and positions Yes Yes
Black Scholes Analyser Yes Yes
Custom strategy builder Yes
Analyze trades and positions Yes
Stock Data Yes
Nifty IV Chart/Banknifty IV Chart Yes
Virtual Option Trading Yes

Sensibull Mobile App?

Sensibull offers an intuitive and easy-to-understand mobile application for traders who enjoy trading on the go. The app is available on both Google’s Play Store and Apple’s App Store.

You can start trading on the app using the Sensibull login Zerodha credentials. Now, choose the plan and start trading options.

How To Trade Options On Sensibull?

The Sensibull platform is quite easy to use. It not only suggests the best options trading strategies but also allows traders to place a trade order and buy or sell options. Wondering how to trade options on Sensibull Zerodha. Below, we have listed a few simple steps to get started.

Create Or Log In To Your Account

Create Or Log In To Your Account

First, create an account with the Sensibull option chain platform or log in to your existing account with your user Id and password. Now, open a Sensibull app and enter the following details-

  • Select Index: The platform suggest and analyse advanced Options strategies for BANKNIFTY and NIFTY. Choose the Index you want to trade in.
  • View- Choose the most appropriate market view from the list.
  • Target Price- Enter our predicted price
  • Target Date- Enter the date by which the asset will achieve the price target.
  • Hit The Go Button: You must enter your market view data in Sensibull and press the “GO” button.

Choose The Appropriate Strategy

The platform offers a list of Options trading strategies you might employ based on your viewpoint and all the relevant information for each plan, such as breakeven points, maximum profit or loss, ROI, profit potential, capital required, return percentage etc.

You can further learn about each strategy by clicking the ‘Expand’ button. Alternatively, you can filter the recommended strategies based on Actions- Buy or Sell and the instrument’s Expiry Date. In addition, four advanced filters are available on the platform: Exclude ITM, Protection Strike Distance, ATM IV and Under The Hood.

You can also compare suggested strategies and assess the P&L in various scenarios. Then, you can change each strategy’s spots, dates, IVs, etc., to pick the best one for your trade.

Compare Options And Place An Order

The platform allows traders to place a BUY or SELL order directly from individual strategy or comparison pages. Here’s how to place an order in Sensibull-

You’ll need a lot size and order type to place an order. And then hit on the trade button. Of course, you can also modify your order before placing a trade.

As soon as you click the place button, the order will be sent to Zerodha’s Kite. Next, you will be redirected to the ‘Your Order’ page, where you can track the status of your orders.

Sensibull Review: Top Features To Consider

The first thing every trader might look for in a trading platform is its features. And in our opinion, in terms of offering good features, Sensibull Zerodha is worth considering.

Here are the top features of the best app for options trading India – Sensibull:

Sensibull Virtual Trading

Why risk your real money when you can gain trading experience without the risk of losing money? The Sensibull virtual trade (also known as Sensibull paper trade) features allow traders to trade with virtual money and learn options trading India. 

Sensibull Option Chain

The Sensibull Option chain feature contains a list of call and put options of an instrument for various strike prices for the specific expiry period.

In the option chain, strike prices are available in the middle. Therefore, it has the details for the call option on the left side and the exact information for the put option on the right side.

Easy Options

The feature allows users to trade with minimum losses and maximum profit. Use this feature to make better and easy choices.

Analyze Trades & Positions

You can make an informed decision using this option by getting all the information related to your trade positions.

Strategy Groups

In this feature, you can group the companies from the same industry with the same strategies and business models.

Research

The platform allows you to deeply analyze the stock market before placing a trade.

Strategy Wizard

The strategy wizard feature helps newbie traders build the right strategy and a better plan.

Zerodha Option Strategy Builder

The Zerodha option strategy builder help traders in building their own trading strategies and aids them in applying them in a live market.

Strategies Engine

In case traders only know the target level for an index, the platform provides the best options strategy to implement. Hence, it helps traders finalize one trading strategy among many options.

Compare Options

If traders are confused or unsure about the best options, the feature allows them to compare them side by side.

Single Click Strategies Execution 

Building an options trading strategy is not enough. Executing it with less gap is crucial as delay in the execution changes the P&L equation.

Does Sensibull Offer Any Options Trading Tools? 

The best part of using the Sensibull platform is that it offers a long list of analysis tools. Let’s check out some of the analysis tools offered by Sensibull Zerodha:

  • Stock Data: The tool provides useful information about the stock’s historical performance.
  • FII DII Data: The platform offers in-depth information regarding the FII (Foreign Institutional Investors) and DII (Domestic Institutional Investors) for better insights.
  • IV Chart: The platform provides the NIFTY IV Chart/BANKNIFTY IV Chart, which provides a clear picture of how volatile stocks could be.
  • Technical Signals: The technical signals help traders formulate the right strategy.
  • Open Interest Charts: The platform shows the open interest charts, which signifies the bearish or bullish trends.
  • Options Screener: The screener provides a list of shares with the best strike price.
  • Real-time P&L & Greeks: Sensibull option chain provides real-time charts with information on Greeks that help analyze and choose the best stock.

Conclusion

After deeply analyzing this Zerodha Sensibull review, we can term it as the best app for Options trading in India. Considering the advanced features like virtual trading, Sensbull opinion chain and compare options, the platform can be an ideal fit for advanced options traders.

As options trading is a tricky trading segment, having a good understanding of the cash market segment and other factors is crucial to success. On the other hand, the major drawback of the platform remains its sophisticated user interface, which might not suit beginners.

So, if you’re searching for a super simple, easily understandable and more regulated trading platform, InvestBy can be a perfect fit for you. The platform offers commission-free trading and a range of trading instruments, including Forex, Commodities, Stocks, Cryptocurrencies and Indices.

FAQs

How To Use Sensibull?

First, download the Sensibull app and follow the on-screen instructions to start trading on the platform.

Is Sensibull By Zerodha Free?

Yes, the platform is free to use. However, you may have to upgrade your plan to unlock more features.

Does Zerodha Own Sensibull?

Zerodha provided Sensibull with a seed investment of 2.5 crore INR.

Is Sensibull Option Chain SEBI Registered?

Yes, the platform is well regulated.

Is Sensibull Backtesting Available?

Yes, you can do backtesting on the Sensibull platform for improvements.

What Is Sensibull Upstox Partnership?

Upstox has partnered with Sensibull to offer trading access to 6.5 million users through the platform and help them open demat account.

Can I Learn from Option Chain Analysis Books? 

Yes, you can learn about options trading through any source, whether it’s books or paper trading features offered by Sensibull.

How To Learn Options Trading In India?

You can learn options trading through the Sensibull virtual trading account.

How to Check My Demat Account Statement?

You can check your Securities /Mutual Funds/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

How To Trade Options In India?

You’ll first need an options trading platform like the Sensibull option chain to start options trading in India. However, investing in securities market carries high risk, read all the related documents carefully.

What Are The Best Books On Options Trading India?

“Option Volatility and Pricing,” by Sheldon Natenberg and “Fundamentals of Futures and Options Markets,” by John Hull, are the best option strategy books for the Indian market.

What Is The Best Sensibull Option Chain Alternative?

Quantsapp is the best Sensibull alternative.

What Are NSE And BSE?

NSE is short for the National Stock exchange, and BSE is short for the Bombay Stock Exchange. Both are India’s largest securities markets.

What Does Sensibull Option Chain Offer?

As India’s biggest options trading platform, Sensibull offers low-risk Options Strategies for beginners – Options Strategy Builder for Experts to build and analyse Advanced Option Strategies – NIFTY, BANKNIFTY, and NSE Stocks Options.

  • USD/INR (Dollar) Options – NSE Option Chain, NIFTY option chain
  • Open Interest Analysis,
  • FII DII Analysis
  • Free Options learning videos
  • Implied Volatility (IV) Charts
  • Futures Data. – Options Data such as Option Greeks
  • Option price calculators
  • Ready-Made Options Strategies such as put spreads, call spreads, strangles, straddles, iron condor, iron butterflies, ratio spreads, etc
  • Intraday F&O Charts
  • Put Call Ratio (PCR)
  • IndiaVix – Real-time price and P&L alerts on Whatsapp

What Are The Revised Guidelines For Investors on Margin Collection?

  • From September 1, 2020, stock brokers may only accept securities as margin by way of a pledge in the depository system.
  • Update your email address and mobile number with your stock broker/depository participant to prevent unauthorized transactions. You will receive OTP directly to create pledge immediately on your email address or cellphone number from the depository.
  • Receive information about your transactions directly from Exchange on your email id/mobile at the end of the day.
  • To trade in the cash market segment, you must pay a 20% advance margin of the transaction value for the services.
  • For more information, investors should head to the Exchange’s Frequently Asked Questions (FAQs), which were published in BSE Notice Nos. 20200731-7 and 20200831-45 dated July 31 and August 31, 2020, respectively, and NSE Circular Nos. NSE/INSP/45191 and NSE/INSP/45534 dated July 31 and August 31, 2020, respectively.
  • Check your bonds, MFs, and securities in the monthly consolidated account statement issued by NSDL/CDSL.
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