Zerodha....
- Thread starter bharath.mang
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- Tags bakwaas now cheapest brokerage nest nest plus new broker zerodha zerodha trader
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Hi TJ,
If you are ready to pay STT of a Futures position instead of Options, you can keep the position open till expiry... better square off before the end of the day...
P.S. - I wouldn't mind if somebody have sold 4900CE at higher levels & keep till expiry... as STT applicable in the sell side only...
Taking money upfront is not a true essence of doing broking business,infact any business... Imagine before you go to a restaurant you have to pay some money(however little), or you have to pay before entering shopper stop..
Discount broking as it is across the world is where you pay a fixed per trade fees without any commitments.. Whatever we do will be according to this philosophy... We would never get into a model where we ask any money upfront...
About lower transaction charges, 90% of business today happens in options.. If transaction charges for futures which comprises of less than 10% of the business is reduced, it is just a marketing gimmick which can hurt the business model on a longer term... Today anyone can reduce charges, but no one will accept if it has to be increased tomorrow...
Discount broking as it is across the world is where you pay a fixed per trade fees without any commitments.. Whatever we do will be according to this philosophy... We would never get into a model where we ask any money upfront...
About lower transaction charges, 90% of business today happens in options.. If transaction charges for futures which comprises of less than 10% of the business is reduced, it is just a marketing gimmick which can hurt the business model on a longer term... Today anyone can reduce charges, but no one will accept if it has to be increased tomorrow...
@ Zerodha,
Is it possible to open more than one account with you. Say I want to open 2 accounts but I will obviously have the same PAN number. So is it allowed by SEBI/Exchange to open 2 accounts with the same broker?
Is it possible to open more than one account with you. Say I want to open 2 accounts but I will obviously have the same PAN number. So is it allowed by SEBI/Exchange to open 2 accounts with the same broker?
Ensure that if you are holding any in the money options you square off before 3.30pm... if you have 5000 puts, it will most likely close in the money today...
The reason I am telling is because:
STT on options when expired in the money is considered as per delivery based trading.. So you end up paying 0.125% of the contract as STT.. So if nifty closes at 4900, you would pay 0.125% of 4900 x 50 = 245000 as STT. Per lot this will amount to around Rs 300, so if you have 2 lots, you will pay Rs 600 as STT.. Better to exit it in market because in that case STT would be 0.017% of the premium which will be around 0.017% of 100 x 100(if premium is at 100) which is around Rs 17...
The reason I am telling is because:
STT on options when expired in the money is considered as per delivery based trading.. So you end up paying 0.125% of the contract as STT.. So if nifty closes at 4900, you would pay 0.125% of 4900 x 50 = 245000 as STT. Per lot this will amount to around Rs 300, so if you have 2 lots, you will pay Rs 600 as STT.. Better to exit it in market because in that case STT would be 0.017% of the premium which will be around 0.017% of 100 x 100(if premium is at 100) which is around Rs 17...
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