ICICI Option trading - 20% brokerage fee!!!

#1
Experts,

I did my first option trade using ICICI Direct yesterday. I squared off a call option and thought I made Rs 3700+ on a single trade. But I was baffled when ICICI charged 20% brokerage on the second leg trade. Here is the transaction detail:

Trade Date Contract Descriptor Action Qty Price# Value Brokerage Order Ref.
20-Aug-2010 OPT-NIFTY -26-Aug-2010-5600-CE-I Buy 1500 7.00 10,500.00 503.20

20-Aug-2010 OPT-NIFTY -26-Aug-2010-5600-CE-I Sell 1500 9.52 14,282.50 3,155.29

In the first trade, the brokerage on 1500 Call buy is Rs 503.20 (Rs 450 + tax) which is 4.2%. On the 2nd trade, the brokerage on 1500 Call sell is Rs 3,155 (Rs 2850 + tax). This is whopping 20%!!!

Am I missing something here? Pls help
 
#3
ICICI brokerage for options is

Rs.95 per lot. So you bought 30 Lots = 30*95 = 2850 + Tax

Same day square off Rs.15 per Lot i.e. 30* 15 = 450 + tax



Depend upon the volume your brokerage will be Rs35 per lot to Rs.95 per lot.
Will be calculated at the end of the quarter and refunded if any.

This is better than Sharekhan where Rs.80 per lot for buy and same for sell even same day sqaure off
 

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