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
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