Finvasia

While placing spread order using NEST I was getting margin issue. In your span calculator margin requirement for the multi legged order I choose was showing around 50,000

I placed the 3L order using spread order option . After confirming the order, the order was rejected stating about 2,56,000 is required to place the order. I tried it 3 times. I was using spread order to take margin benefit as per new sebi margin policy. If there is other way to take the new margin benefit without actually having the margin required for naked option selling please let me know.

I called trade and call number as well as IT support number they both where unable to help and surprisingly I was told that RMS team has informed that no such rejection has been done for my account today.
I again initiated live chat and there also I was told the same that no rejection has been done in my account today even after sending the nest order screenshot . After sending one more screenshot , the chat guy asked for anydesk and the some one from your team saw the orders on remote. Even after that I was told to show the issue tomorrow again.

Finvasia has no record of my order !!

Have sent the mail as well.

Span calculator : https://ibb.co/pxf1Bqh
Spread order : https://ibb.co/kJfKGBQ
Order/Trade alert: https://ibb.co/b5Z9Ts2
Chat response: https://ibb.co/3SL55TH
 

Finvasia

Well-Known Member
While placing spread order using NEST I was getting margin issue. In your span calculator margin requirement for the multi legged order I choose was showing around 50,000

I placed the 3L order using spread order option . After confirming the order, the order was rejected stating about 2,56,000 is required to place the order. I tried it 3 times. I was using spread order to take margin benefit as per new sebi margin policy. If there is other way to take the new margin benefit without actually having the margin required for naked option selling please let me know.

I called trade and call number as well as IT support number they both where unable to help and surprisingly I was told that RMS team has informed that no such rejection has been done for my account today.
I again initiated live chat and there also I was told the same that no rejection has been done in my account today even after sending the nest order screenshot . After sending one more screenshot , the chat guy asked for anydesk and the some one from your team saw the orders on remote. Even after that I was told to show the issue tomorrow again.

Finvasia has no record of my order !!

Have sent the mail as well.

Span calculator : https://ibb.co/pxf1Bqh
Spread order : https://ibb.co/kJfKGBQ
Order/Trade alert: https://ibb.co/b5Z9Ts2
Chat response: https://ibb.co/3SL55TH
Hi @cybersurfer! Thanks for sharing the details. We will look into and get back. Thanks
 

Finvasia

Well-Known Member
No I am talking about transferring my shares to you before selling (not after). What code should I choose? so after I transfer to your collateral account it will be available in my holding for next business day for selling. Do I still use the same code - margin to stock broker?
Hi @curiousv! Yes, please select Margin to Stock Broker. And once successfully transferred, the shares will reflect in your software in the next 24 working hours to sell. Thanks
 
Hi @cybersurfer! Thanks for sharing the details. We will look into and get back. Thanks
Have you looked into the issue. The issue still persists. If you cant get it resolved let me know.

Trying to reach you guys on call since 9:05 but no one picks the call. Even live chat is not live till now. Bhaiya kuch paise charge karlo but service thodi achi provide kardo . Pathetic service.
 
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Hi @curiousv! Yes, please select Margin to Stock Broker. And once successfully transferred, the shares will reflect in your software in the next 24 working hours to sell. Thanks
Ok so in case I sell the shares first (before transferring to you) for example sell shares on nest terminal at 10 am and can I transfer the shares before 3.30 pm from CDSL easiest to your collateral ? Because settlement is T+2 I believe shares will be transferred within 24 hours but you delivery of my sale will be T+2 days so all will be good correct?
Next question - You said I need to provide settlement no.? U mean if I sell first I need to check tradebook in nest and find settlement no. for the sale and provide to you? but how via email ?
 
Hi @curiousv, If you are referring to transfer of shares from your DP to broker account after selling, then you would need settlement number. For more clarity, we would suggest that you share your Client Code and one of our executives can call and explain. Thanks
Since you are busy on phone and chat ..why don't you share info here...You said I will need settlement no. but how do I find it? I believe I can find it trade-book and once I find settlement no. how do I use it on CDSL easiest when I transfer so you for which settlement I am transferring?
 
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Dear Finvasia,

This is with regards to the new margin policy of NSE.

Suppose I want to write TITAN 950 PE expiring June 2020 (TITAN25JUN 950PE).

I want to take a spread but not at once. Say I enter the short put position at 9.30am.

But I do not take any other position till say 2 pm or even 3pm. However, before the end of the day on which I took the position itself, I then go ahead and buy a put say TITAN 25JUN 1000PE so at to protect both sides, or, I write 1120PE instead of buying the put. Now, how would my position look?

1) since I am naked writing at the begining of the day, does this mean that I will have to have the entire margin of around 2 lakhs?

2) since I haven't entered the spread at once, will it be counted as a spread once I take the opposite position later on during the day?

3) What happens to the margin requirement if I close out a position the next day? one of the sides? What happens if I then re-enter a spread again at the end of the day, meaning I trade the day naked and hedge overnight?

4) What about margins in case of buying options naked? I have seen on other brokers updated calculators that the margin is 0. How is that possible?
 
Dear Finvasia,

This is with regards to the new margin policy of NSE.

Suppose I want to write TITAN 950 PE expiring June 2020 (TITAN25JUN 950PE).

I want to take a spread but not at once. Say I enter the short put position at 9.30am.

But I do not take any other position till say 2 pm or even 3pm. However, before the end of the day on which I took the position itself, I then go ahead and buy a put say TITAN 25JUN 1000PE so at to protect both sides, or, I write 1120PE instead of buying the put. Now, how would my position look?

1) since I am naked writing at the begining of the day, does this mean that I will have to have the entire margin of around 2 lakhs?

2) since I haven't entered the spread at once, will it be counted as a spread once I take the opposite position later on during the day?

3) What happens to the margin requirement if I close out a position the next day? one of the sides? What happens if I then re-enter a spread again at the end of the day, meaning I trade the day naked and hedge overnight?

4) What about margins in case of buying options naked? I have seen on other brokers updated calculators that the margin is 0. How is that possible?
You mean 1120 CE right !!

After facing margin issue myself and not getting any response from Finvasia , I gathered bit of info on this and based on my understanding :

1) Full margin is required while placing the order. You get the margin benefit only after the order is executed. Say for eg if margin req for a hedged position is 20000 but individual position requires 100000 as margin then 100000 will be required while placing order but once the order is executed and position is hedged only 20000 will remain blocked rest amount will be available to take other positions.

2) You will get the margin benefit if you hedge your position later in the day.

3) Full margin will be required If squaring off results in un-hedging of the positions you took .

4) No margin required for buying Options. You have to full premium for buying premium.