How to get back STT paid on ITM Options on Expiry, probably with a Booty!

[OPTIONSRIGHT]

And I couldn't understand this is 800 times STT paid, booty wala thing.

STT on ITM Options is on the closing price of the underlying. STT is 0.125%. So if you want the closing price from the STT paid,

Closing Price = STT Amount / 0.125% = STT Amount * 800

The closing price is the settlement price. Now that is what you should get, going by NSE's definition of settlement price for ITM options exercised. If you have paid Rs.1000 as STT on ITM Options exercised, then you should get Rs.8 lakhs.

 

[Square]

The STT price is calculated on closing price, ITM is determined on closing price, and 'half an hour average closing price' has been in vogue for quite a while! Where is the confusion?

Vogue?? Says who.
Dear friend, Closing price = Last 30 mins weighted average price.
STT (for ITM options not squared off), ITM, OTM and every damn thing is calculated on the closing price defined above.
Again, remember closing price <> LTP

 

[OPTIONSRIGHT]

Yes, there is nothing new in what you are saying. I am sure, everyone who is serious know about it. It is all well known.
And, it is with the closing price that I am talking about. It is the closing price of the underlying, which could be different from the LTP - last traded price.

 

[OPTIONSRIGHT]

By this, it appears that our Finance Ministry or Govt has nothing to do with this.

 

[OPTIONSRIGHT]

As a follow up, did anyone with ITM Options on expiry, write to their broker and/or NSE to get their money? At least the STT? Chirag Gupta as provided in some links?

 

[OPTIONSRIGHT]

It appears BSE started providing an option to 'NOT EXERCISE OPTION' on expiry. They are in damage control mode.

Good, but nowhere enough. Still the ITM Option holders are being forced to lose their ITM portion.

The exchanges were collecting more taxes than what is mentioned by the Govt, that had made some lose heavily.

I was mentioning that the concerned guys were afraid of this getting exposed. This seems to be a damage control exercise to cover up their mistake.

But surprised at the traders not understanding. All that the people who lost money have to do is, file a case in the court of law and get their money back. That is the reason why I had asked for support from our fellow traders, which I am sad to note, was not forthcoming, but for just a few.

 

[toocool]

What happens when trader chose not to excersized option...... Option?

 

[varunkochhar]

What happens when trader chose not to excersized option...... Option?

On a lighter note. "You get to give your booty (*ss)."

 

[mubahm]

I have not exercised any options, with the new "do not exercise" want to try have prepared a excel sheet, members please comment. Sheet includes all the charges.
Thks

Lot (A) 5000
Strike Price (B) 100
Premium ( C) 7.65
Sell (D) 8
Brokerage (E) 40
Turnover (F) = ((C+D)*B) 78250
STT @ .05% (G) =(F*.05%) 20
Txn Charges .053% (H)= (F*.053%) 41.47
GST 18% (I)= ((E+H)*18%) 14.66505
SEBi Turnover 0.0002% (J) = (.0002%*F) 0.1565
Total Tax & Charges (K)=(G+H+I+J) 116.29
Points to break Even (L)=(K/A) 0.023259
P/L
Credit Received (M) (D*A) 40000
Total Break Even N ((+C)*A) 38366.29
Net P/L (K-L) 1633.71

Exercise Call Option

Lot (A) 5000
Strike Price (B) 180
Premium Paid ( C) 7.65
Stock ClosePrice (D) 190
Excercised Price diff (E)=(D-B) 10
TurnOver (F) =((C+E)*A) 88250
STT (G) = (.125%*F) 1187.5
Txn Charges (H) =(.053%*F) 46.77
GST (H) = ((G+H)*18%) 222.1691
SEBi Turnover (I) = (.0002%*F) 0.1765
Total Tax & Charges (I) = (G+H+I+J) 1456.62
Points to break Even (K) 0.291324

P/L
Credit Received (L) (E*A) 50000
Total Break Even (M) ((K+C)*A) 39706.62
Net P/L (L-M) 10293.38


Excercise Put Option

Lot (A) 5000
Strike Price (B) 180
Premium Paid ( C) 7.65
Stock ClosePrice (D) 170
Excercised Price diff (E)=(B-D) 10
TurnOver (F) =((C+E)*A) 88250
STT (G) = (.125%*F) 1062.5
Txn Charges (H) =(.053%*F) 46.77
GST (H) = ((G+H)*18%) 199.6691
SEBi Turnover (I) = (.0002%*F) 0.1765
Total Tax & Charges (I) = (G+H+I+J) 1309.12
Points to break Even (K) 0.261824

P/L
Credit Received (L) (E*A) 50000
Total Break Even (M) ((K+C)*A) 39559.12
Net P/L (L-M) 10440.88

 

[anantkkr]

STT on ITM Options is on the closing price of the underlying. STT is 0.125%. So if you want the closing price from the STT paid,

Closing Price = STT Amount / 0.125% = STT Amount * 800

The closing price is the settlement price. Now that is what you should get, going by NSE's definition of settlement price for ITM options exercised. If you have paid Rs.1000 as STT on ITM Options exercised, then you should get Rs.8 lakhs.

Hi there ..

I ca

STT on ITM Options is on the closing price of the underlying. STT is 0.125%. So if you want the closing price from the STT paid,

Closing Price = STT Amount / 0.125% = STT Amount * 800

The closing price is the settlement price. Now that is what you should get, going by NSE's definition of settlement price for ITM options exercised. If you have paid Rs.1000 as STT on ITM Options exercised, then you should get Rs.8 lakhs.

I came across this mooted stt claim ex this thread of yours ...good one but can you clarify following aspects .. how is the figure 800 achieved by your formula ...

Closing price as per your formula is stt / 0.125 which means stt paid / 12.5 = 80 not 800

So now tell me why you should get back payment and if one claims payment on what formula and basis do claim ..

Your reply is urgently solicited so that broker can be served with a notice from my side