Sensibull Tutorial 2023: A Comprehensive Guide To Options Trading

What Is Sensibull Option Chain?

Table of Contents

Sensibull is an options trading platform developed for advanced traders who are looking for diverse portfolio alternatives beyond bonds, stocks, or mutual funds. In case you’re considering using the platform for your options trading needs, it’s worth reading a comprehensive Sensibull Review 2023 to help you make an informed decision.

The platform simplifies the trading strategy by suggesting numerous ways for a detailed market view and presenting all crucial information such as volatility, risk, and profit or loss before starting on options trading. 

Over the years, Sensibull has received both positive and negative feedback from users. Some users have praised the platform’s user interface, which is said to be intuitive and easy to use. Others have criticised the platform’s pricing structure, which can be expensive for those who trade frequently.

So, in order to alleviate any doubts surrounding the platform, we present a comprehensive Sensibull review 2023 that will put affront a clear overview of the services & features of this options trading platform. 

What Is Sensibull?

Sensibull is an India-based options trading platform that offers a wide range of features and capabilities for traders of all levels. 

It provides a user-friendly interface that allows traders to execute complex options and strategies with ease. The platform also offers a number of educational resources and tools to help traders learn about options trading and improve their skills.

One of the key ways in which Sensibull differs from other options trading platforms is its focus on simplicity and accessibility.

 While many options trading platforms can be complex and difficult to navigate, Sensibull has been designed to be intuitive and user-friendly, even for those who are new to options trading.

What Does Sensibull Do?

As an options trading platform, Sensibull provides users with a comprehensive set of tools and features to make informed trading decisions. 

It offers a wide range of features, such as options trading strategies, options chain analysis, option Greeks, and a virtual trading simulator to help users understand the mechanics of options trading without risking real money.

Sensibull also provides real-time market data, news updates, and alerts to keep users informed about market movements and events that could impact their trading decisions. 

The platform offers a customisable dashboard that allows users to monitor their favourite stocks, options, and strategies in real-time.

Moreover, Sensibull allows users to create and save their own trading strategies, which can be backtested to analyse their historical performance. 

The platform also provides users with various tools to manage their risk, such as stop-loss orders and position-sizing calculators.

What Is The Use Of Sensibull?

After a thorough evaluation and Sensibull Review 2023, it can be concluded that the platform is useful for a range of purposes. Here is a brief overview of some of the key features:

  • Virtual Trading: Also known as Sensibull Paper Trading, the virtual trading features allow traders to simulate trades without risking real money. This is a great way to test out new strategies and ideas.
  • Easy Options: It simplifies options trading by providing easy-to-use tools and interfaces that make it easy to place trades, manage positions, and analyse market data.
  • Analyze Trades and Positions: The platform allows traders to easily analyse their trades and positions using advanced analytics tools. This helps traders understand their performance and make better decisions in the future.
  • Strategy Groups: It also provides a range of pre-built strategy groups that traders can use to quickly build and execute trading strategies.
  • Research: Sensibull offers a wealth of research and analysis tools that traders can use to stay on top of market trends and identify new trading opportunities.
  • Strategy Wizard: Sensibull’s strategy wizard allows traders to easily build and customise trading strategies using a range of options and parameters.
  • Basket Orders: The options trading platform supports basket orders, allowing traders to place multiple trades simultaneously. This is a great way to execute complex trading strategies quickly and efficiently.
  • Custom Strategy Builder: Sensibull custom strategy builder allows traders to create their own unique trading strategies using a range of parameters and conditions. This gives traders complete control over their trading strategies and helps them achieve their financial goals.

How Does Sensibull Help Options Traders?

Apart from the features mentioned above, Sensibull offers a variety of analysis tools to help traders make informed decisions. 

These tools provide users with valuable information and insights into the stock market and help them make informed decisions. So, let’s discuss them in brief with Sensibull Review 2023:

  • Stock Data: Provides useful information about the stock’s historical performance.
  • FII DII Data: Offers in-depth information regarding the FII (Foreign Institutional Investors) and DII (Domestic Institutional Investors) for better insights.
  • IV Chart: Provides the NIFTY IV Chart/BANKNIFTY IV Chart, which clearly shows how volatile stocks could be.
  • Technical Signals: Helps traders formulate the right strategy.
  • Open Interest Charts: This shows the open interest charts, which signify the bearish or bullish trends.
  • Options Screener: Provides a list of shares with the best strike price.
  • Real-time P&L & Greeks: Sensibull option chain analysis provides real-time charts with information on Greeks that help analyze and choose the best stock.
  • Option Chain: Provides real-time option chain data with various filters like strike price, expiry date, and more.
  • Strategy Builder: Helps users build custom trading strategies based on their risk appetite, market view, and available capital.
  • Options Greeks: Provides options Greeks such as Delta, Gamma, Theta, and Vega, which help traders analyze the risk and reward of their trades.
  • Option Calculator: Helps traders calculate the theoretical value and other parameters of their trades.
  • Trade Dashboard: Helps traders track their trades, including open positions, realised and unrealised profits and losses, and more.
  • AI-Based Trade Ideas: Helps traders identify potential trading opportunities based on various parameters.

Is Sensibull Free or Not?

Sensibull is not entirely free, but it does offer a free trial period for new users. During the trial period, users can access some of the features of the platform, but certain features may be restricted. 

After the trial period is over, users can choose to subscribe to a paid plan to continue accessing the full range of features.  The platform offers different subscription plans with different pricing and features, so users can choose the plan that best suits their needs and budget.

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

Features Free Plan Lite (Rs 800 Per Month) 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 & User Interface

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

First, create an account with the Sensibull option platform or sign in to your existing account with your Sensibull login credentials. Now, open a Sensibull app and enter the following details-

  • Select Index: The platform suggests 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

It will offer 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.

Conclusion

After deeply analysing this Sensibull review, we consider it 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 market 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 simple, easily understandable and more regulated trading platform, InvestFW 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. 

How Much Does Sensibull Plan Cost?

Sensibull offers a range of pricing plans to suit different needs and budgets. The plans start at Rs. 499 per month for the Lite plan, which offers access to basic features, and go up to Rs. 1,999 per month for the Ultimate plan, which includes all features and tools.

Is There Any Sensibull Subscription Offer?

Yes, the platform often runs subscription offers and promotions for new users. These offers can provide discounts on the subscription price or extended free trial periods. Check their website or social media channels for the latest offers.

What Is Sensibull App Used For?

Sensibull is an options trading platform with tools and features to help traders make informed trading decisions. The app is used to access the platform and its various tools, including strategy builders, real-time options chain analysis, and more.

How To Use Sensibull For Free?

Sensibull offers a 7-day free trial for new users, which allows access to all the features of the Ultimate plan. After the trial period, users can choose to subscribe to a plan or use the Lite version for free, which provides access to basic features.

Can I Trade Directly From Sensibull?

No, Sensibull is not a trading platform itself. Instead, it provides tools and features to help traders make informed trading decisions. Users can link their trading account to Sensibull to execute trades, but the actual trading takes place on the trading platform of their broker.

Which Is Better Tradingview Or Sensibull?

Tradingview and Sensibull are two different platforms that serve different purposes. Tradingview is a charting and analysis platform for stocks, forex, and other securities, while Sensibull is an options trading platform that provides tools and features specifically for options trading. The choice between the two depends on the individual trader’s needs and preferences.

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 doesn’t own Sensibull; however, it provided the company with a seed investment of 2.5 crores INR.

Is Sensibull SEBI Registered?

Yes, the platform is well-regulated by SEBI.

Is Sensibull Backtesting Available?

Yes, you can do backtesting on the Sensibull platform. 

What Should I Do If I’m Having Trouble With Sensibull Login?

If you’re having trouble with Sensibull Login, first double-check that you’re entering your login credentials correctly. If you’re still having trouble, try resetting your password by clicking on the “Forgot Password” link on the login page. If you continue to experience issues, contact support for further assistance.

What Is Sensibull Upstox Partnership?

Upstox has partnered with Sensibull to offer trading access to 6.5 million users. 

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 Trade Options In India?

You’ll first need an options trading platform like the Sensibull option chain to start options trading in India. 

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. 

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.

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, BANK NIFTY, and NSE Stocks Options.

  • USD/INR (Dollar) Options – NSE Option Chain, NIFTY option chain
  • Open Interest Analysis,
  • FII DII Analysis
  • Free Options for 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 condors, 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 a 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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