On the day of expiry Is it safe to trade futures intraday?

#1
Hi,
I have been trading futures (NEAR) daily on an intraday perspective, whose expiry is on 30th March.

It allows to trade on margin, but if i choose the NEXT future (27th April), it doesn't allow margin transactions.

Now the 30th March future is expiring tomorrow. I wish to know, is it safe to trade on them even tomorrow though it is the expiry date?

I am asking from several perspective :
1) I don't have sufficient balance in trading account to buy them (was using margin)
2) Is there a chance, if it allows buying, i won't be able to sell it (since it is expiring tomorrow)?
3) Any other potential risks?

Please help.
Thanks in advance
 
#2
Bhai
You didnt mention
its about stocks or indices
if trading NF or BNF, then there should be no problem, if you have sufficient balance/margin in your account.

BTW
If you want to continue your trade then it would be better to trade in next month series, rather current month, as it will save expanses, brokerage and taxes.
 
#3
Bhai
You didnt mention
its about stocks or indices
if trading NF or BNF, then there should be no problem, if you have sufficient balance/margin in your account.

BTW
If you want to continue your trade then it would be better to trade in next month series, rather current month, as it will save expanses, brokerage and taxes.
Thanks for the response, it is not on index futures, but individual company futures like CANBK or PNB. BAsically i tried the next futures, but my broker SK didn't allow me to go for margin for the next (but that was 2-3 days back). May be they might allow tomorrow, as it is expiry day of 30th March futures. Else, i won't be able to trade futures tomorrow :(:(:(

Also, in betwn, i don't have sufficient balance to purchase them, am only relying on margin money for all my trades till now.
 
#4
Thanks for the response, it is not on index futures, but individual company futures like CANBK or PNB. BAsically i tried the next futures, but my broker SK didn't allow me to go for margin for the next (but that was 2-3 days back). May be they might allow tomorrow, as it is expiry day of 30th March futures. Else, i won't be able to trade futures tomorrow :(:(:(

Also, in betwn, i don't have sufficient balance to purchase them, am only relying on margin money for all my trades till now.
I do not trade stocks future, so cant say for that.
But, if you have sufficient margin balance then broker should have no reason, to not allow for an overnight or intraday trade (as the case may be)
 
#5
I do not trade stocks future, so cant say for that.
But, if you have sufficient margin balance then broker should have no reason, to not allow for an overnight or intraday trade (as the case may be)
Thanks again for the response.
I just called up Sharekhan now. They have something called BigTrade+ which gives some 10x leverage on top of my current balance.

I told them, my order got cancelled when i tried purchasing the NEXT future, to my surprise, the call center lady at first seemed not sure, and then kept me on hold 10 mins, to know the info :mad::mad:.

Finally told me that yes, you can only purchase for the current month futures and not next, as that is not allowed by BIGTRADE+.

When i asked but tomorrow is the expiry, she said you can still purchase intraday and square-off before 3pm, or the system will square off.
 
#6
Sorry bhai,
I do not trade with SK, so do not know about BIGTRADE+
so cant help you, in this regard.

BTW, why are you trading with SK, any major benefit you are getting from them. Their brokerage is very high. Isnt it.
 
#7
Sorry bhai,
I do not trade with SK, so do not know about BIGTRADE+
so cant help you, in this regard.

BTW, why are you trading with SK, any major benefit you are getting from them. Their brokerage is very high. Isnt it.
Sir, filled up form for Zerodha today only (around 20 mins back) :)

Actually SK was charging a somewhat nominal brokerage 0.02% buy side intraday. But their delivery charges sucks, which is 0.2%, so finally decided to switch to Zerodha.

I loved the SK trading platform TradeTiger, really cool, but am sure will fall in love with Zerodha Kite or Pi too soon once the account gets activated :)
 
#8
Sir, filled up form for Zerodha today only (around 20 mins back) :)

Actually SK was charging a somewhat nominal brokerage 0.02% buy side intraday. But their delivery charges sucks, which is 0.2%, so finally decided to switch to Zerodha.

I loved the SK trading platform TradeTiger, really cool, but am sure will fall in love with Zerodha Kite or Pi too soon once the account gets activated :)
What you say, 0.02% is nominal, :lol:
then what you will say for those who are charging free to 2000 per month brokerage for unlimited monthly trading.

I pray for it, that you have a good experience with Z pi and kite, otherwise many members here have become averse of it. (see Zerodha thread in the forum) And me, I have left them long long ago. :lol: :lol:

One thing, Z does not charge brokerage for delivery, that will be good for you.
 
#9
What you say, 0.02% is nominal, :lol:
then what you will say for those who are charging free to 2000 per month brokerage for unlimited monthly trading.

I pray for it, that you have a good experience with Z pi and kite, otherwise many members here have become averse of it. (see Zerodha thread in the forum) And me, I have left them long long ago. :lol: :lol:

One thing, Z does not charge brokerage for delivery, that will be good for you.
Thanks again for sharing the valuable input regarding zerodha, i will PM you to know more about a better platform. SK was actually killing me earlier, was charging 0.1% both buy and sell side intraday, i threatened to leave, when they made it 0.05 and now 0.02% only one side (buy) for futures intraday.

Charges really sucks, first of all 0.02% brokerage and then 0.01% for STT futures, and then leave alone other stuffs like stamp duty, etc etc. :(:(:(
 

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