Sensibull is an options trading platform that simplifies the options strategy creation by suggesting a number of ways for your particular market view. Sensibull provides all the essential information like risk, volatility, and profit/loss potential before you enter the options trade.
For example, suppose you think that Nifty will go up 200 points in 14 days but you are not sure which option strategy will work the best.
Then you can go to the Sensibull platform and enter your market projections and hit the go button. Sensibull will create specific buy/ sell option strategies with details of profit, ROI, breakeven, max profit/loss for each strategy.
How Does Sensibull Work
Sensibull is an independent startup with its own proprietary (Sensibull) options trading platform.
Sensibull has tied up with brokers like Zerodha, 5paisa and Motilal Oswal to help you trade directly on the selected options strategy from the platform instead of copying the strategy.
To get the best options strategy, first you need to have a view for a particular stock or index. The view can be bullish (the stock prices will rise in the coming days) or bearish ( the prices are going to fall in the coming days).
For example, suppose you think that Nifty will be up by 200 points in the next couple of weeks, i.e you have a bullish view on Nifty. Sensibull captures this view in terms of market levels.
Like, if the Nifty is at 9300 then you need to enter the following details.
Stock name
You need to choose a particular stock or index for which you want to create an option strategy.
View
You have choices to indicate your market view like Nifty levels “Not above”, “Below”, “Not Below” and “Above”. Select the most appropriate market levels for your view. Like Nifty “Not below” 9300 or Nifty “Above” 9500.
Nifty target level
Enter the price you believe the underlying stock or index will achieve. In our case, it will be 9500 for Nifty.
Target date
Enter the date in which you think that the underlying stock or index will achieve the price target. That is 14 days from now for said example.
After which you just need to press the “Go” button and Sensibull will provide you a list of options trading strategies in line with your market views.
Along with the strategy, Sensibull will also show details like the profit potential, capital required, return percentage.
When you have selected one of the options strategy, then you can place the order directly from the Sensibull platform.
The platform is integrated with your broker terminal and places the selected trade directly without requiring you to key in the order details once again on the broker trading platform.
Sensibull Charges & Pricing
Currently, Sensibull is working with Zerodha, 5paisa, Motilal Oswal and Alice Blue only.
Sensibull fees and charges vary from broker to broker. Different stockbrokers have subscribed to different plans, durations and features.
You need to get in touch with your stockbroker for the exact Sensibull charges and pricing.
Sensibull offers Pro, Lite and Free (for a maximum of 14 days) plans.
The Pro plan comes with advanced tools and features like Implied Volatility (IV) charts, powerful statistical tools, currency options, and all the features of the Lite plan. The Pro plan is suitable for advanced options traders.
Lite plan offers option chain, strategies wizard, real-time Profit & Loss, 10 watchlist, open interest analysis and other tools. The Lite plan is suitable for beginner options traders.
Below are the Sensibull pricing details on Zerodha
Features of Sensibull
#1. Create Option Strategies
Sensibull helps you to create options trading strategies based on your market views. It also warns you of the upcoming events like GDP data, RBI policy and company results that can impact your strategy.
#2. Easy Order Placement
After selecting a strategy, you do not have to key in the individual buy/sell orders on your broker platform.
Sensibull has an integrated platform with your stockbroker. Sensibull prefills the order form and you just need to place the order for your selected strategy.
#3. Compare Options
In case you are confused between two or more strategies then you can add them to compare strategies and see the P&L in various scenarios.
You have the facility to change the spot, dates, implied volatility (IVs) and then finally select the best option strategy.
#4. In-built Insights
Sensibull shares all possible events like a company’s corporate action like stock split, rights issue, or ongoing buyback that could have an effect on your trade.
The insights also include details like the impact of GDP data, RBI policy and FII activity.
#5. Options Strategy For Any Day
Generally, strategy engines available in the market suggest option strategies for the expiry date.
However, with Sensibull you have the facility to trade options strategy for any day of your choice including for the option expiry date.
#6. Option Chain
The Option Chain offers you a visual picture of the entire open interest buildup in a glance for any stock or index listed with Sensibull.
On option chain screen you can have fine details like the real-time Greeks, built-in events notifications and percentage on implied volatility and more.
Sensibull By Zerodha
To use the Sensibull option platform in Zerodha, you have two methods
- Use Zerodha Login to access Sensibull platform
- Use Sensibull website and login with Zerodha ID
#1. Use Zerodha Login To Access Sensibull Platform
You can log in to your Zerodha trading account, as you normally do and then use the Sensibull app to access the Sensibull platform.
Follow the below step to access Sensibull.
#1. Log in with your Zerodha account
Enter you 2 factor PIN details to log in.
#2. Log on to Sensibull app
After login, click on the Apps tab on the top and scroll down to find Sensibull. Click on Sensibull to get their login page.
#2. Use Sensibull Website And Login With Zerodha ID
You can directly visit Sensibull website and log in to the Sensibull platform.
Select your broker – Once you click the log-in page you will be prompted to select your stockbroker.
Select Zerodha and use your Zerodha Trading ID and password to access the Sensibull trading platform.
Sensibull Dashboard
After login in the Sensibull, you will get the dashboard as shown above where you can create watchlists, view your options position & orders and have access to various Sensibull tools.
Sensibull Watchlist
Click on the watchlist tab on the top to create a watchlist. Click on the “Add” tab to find the options to add on the watchlist.
For example, you can add a Nifty option
You need to select the contract type from Futures/ Put Option or Call Option. You also need to pick the Strike price (the price at which the option will be exercised) and the expiry date.
Get your watchlist
Likewise, you can add other options for stock and index in your watchlist.
Sensibull allows buy and sell only for futures and options
#3. Sensibull Option Chain
Sensibull option chain is a visualization of various options related numbers in an easy to read format.
The data captured by option chain are
- Open Interest build-up for individual stocks, Nifty and Bank Nifty
- Implied Volatility figures and percentage
- Option Greeks like Delta, Vega & Theta figures
To access the option chain in Sensibull click “Dashboard”– the three lines on the left-hand side top of your screen.
Scroll down a bit to find the OC (Option Chain) tab. Click on the option chain (OC) tab to access the option chain tool.
Below is the Sensibull Option Chain screen that you will see on your screen.
1. Shows the stock or the index for which the option chain details are reflected on your screen
2. This section contains the option expiry date details with the facility to change the date, latest trading price as per lot and show or hide the option greek details.
3. The column lists the various strike price and the corresponding volatility details
4. Shows the details of open interest for a particular strike price in Lakhs and the percentage change in open interest.
5. On the right-hand side rows you have the details of option greeks (Theta, Vega, Gamma) value for that particular strike.
What I Like About Sensibull
- Easy options trading platform
- Integrated with stockbroker
- Features like option chain and strategy builder
- Factors likely impact of events in strategy
- Options strategy for all days
Area Of Improvement
- Need to include other indexes like Sensex (currently has only Nifty and Bank Index only)
- Integrate with other stockbrokers
Sensibull Free Trial
Sensibull offers a 7 to 14 day free trial for options traders but that will depend on your stockbroker. If your stockbroker has subscribed to the free trial offer he can pass that facility to you.
The Sensibull free trial contains fee features like
- Options trading tutorials
- NSE option chain
- Stocks results and events calendar
- Trading advice
- Easy options for beginners
FAQs
Q: What is Sensibull
Sensibull is a simple options trading platform that offers an option strategy based on your market views.
Q: Is Zerodha Sensibull free
No, Zerodha charges a fee for using Sensibull. Zerodha has per day, monthly and 6-month plans.
Q: What is Option Chain
An option chain is a visual picture representation of open interest values for various strike prices related to a particular stock option or index option.
Q: What is Virtual trade-in Sensibull
Virtual trade-in Sensibull allows you to learn and practice options trading without involving real money.
Q: How much margins I need to keep
Margins are borrowed money that allows you to trade higher volumes.
You need to maintain a margin amount even if you are using Sensibull. On the safe side, you can keep 1 to 1.5 Lakhs for Nifty (Index) option trades and 2 Lakhs (depending on stock) for every stock F&O trades.
Conclusion
Sensibull is a one-stop solution for all your option trading requirements. The platform acts as a guide and options trading partner by providing warnings in the form of scenarios that safeguards from placing wrong option trades.
You have on hand all the data, events, risk and the potential P&L details before you trade. On top of which new option traders have the facility to learn and do paper trade.
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