Options Turnover Calculation at RelianceMoney
Guys-
I am somewhat confused at the way turnover is calculated at RelianceMoney in respect of options. Everytime I trade options, the system deducts a turnover in a close resemblance to futures. For example if I buy some NIFTY option at 220 premium (say NIFTY at 5500) and sell at 230 (say NIFTY at 5540), it calculates the TO like 220 * 5500 + 230 * 5540 which amounts to about 2.5 Millions. Now at a Rs 500 card, I get a TO limit of 10 mils.
I initially asked one tech support executive and he answered that it should be like 220 * 50 + 230 * 50 = 22,500 and that appeared absolutely perfect and conforms to my understanding. But in actuality, the deductions are much more.
I'd greatly appreciate if anybody faced this trouble and how it's been sorted out.
Thank you and best regards
- Sukhen
Guys-
I am somewhat confused at the way turnover is calculated at RelianceMoney in respect of options. Everytime I trade options, the system deducts a turnover in a close resemblance to futures. For example if I buy some NIFTY option at 220 premium (say NIFTY at 5500) and sell at 230 (say NIFTY at 5540), it calculates the TO like 220 * 5500 + 230 * 5540 which amounts to about 2.5 Millions. Now at a Rs 500 card, I get a TO limit of 10 mils.
I initially asked one tech support executive and he answered that it should be like 220 * 50 + 230 * 50 = 22,500 and that appeared absolutely perfect and conforms to my understanding. But in actuality, the deductions are much more.
I'd greatly appreciate if anybody faced this trouble and how it's been sorted out.
Thank you and best regards
- Sukhen