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Hello TSO, I opened the account with you 5 yrs back when we had to sign all documents including POA document. I am very happy with your service till date. Now i only want to revoke the POA so what is the process for doing it.
Thank you
Hello crazymouse
Thanks for your business and the kind words. Glad to know you are happy with our service.

To revoke the POA please courier us the signed Account Modification Form. There you can mention that you wish to revoke the POA. If there are no other changes, the only the 1st page should suffice as it is for modifications in demat account. This Modification form can also be found in our knowledgebase article where you can find a List of all forms.
 
I am bit confused in making out of new rules for derivatives, on sale amount of an option trade.

So please let me know of the amount that I will be available to use for other option trades during day.
1. If I buy an option trade for 2000 and sell it for 2100, intraday - 2000 or 2100 or none available for day,
2. If I had an overnight option trade bought for 2000 and sell it today for 2100, - 2000 or 2100 or none available for day

Thanks
 
I am bit confused in making out of new rules for derivatives, on sale amount of an option trade.

So please let me know of the amount that I will be available to use for other option trades during day.
1. If I buy an option trade for 2000 and sell it for 2100, intraday - 2000 or 2100 or none available for day,
2. If I had an overnight option trade bought for 2000 and sell it today for 2100, - 2000 or 2100 or none available for day

Thanks
Sure.

1. In this case assuming you had Rs 2000 in your account before buying the option. You had an intraday profit of Rs 100. This is an unsettled profit and will be available to you on T+1. So you can still use the Rs 2000 for another trade but not the Rs 100 of intraday profit.
2. Rs 2100 will be settled on T+1. However, since the settlement for options bill will be a net amount, you can use that amount of Rs 2100 to buy another option. But won't be able to use it for any other purpose on the same day.
 
Thanks for clarification.

Sure.

1. In this case assuming you had Rs 2000 in your account before buying the option. You had an intraday profit of Rs 100. This is an unsettled profit and will be available to you on T+1. So you can still use the Rs 2000 for another trade but not the Rs 100 of intraday profit.
2. Rs 2100 will be settled on T+1. However, since the settlement for options bill will be a net amount, you can use that amount of Rs 2100 to buy another option. But won't be able to use it for any other purpose on the same day.
 
2. Rs 2100 will be settled on T+1. However, since the settlement for options bill will be a net amount, you can use that amount of Rs 2100 to buy another option. But won't be able to use it for any other purpose on the same day.
You mean it can be used to buy back the same option or any other put/call ?
 
One more query, please

Suppose I have a overnight credit amount of 20000 in my trading account. I square off a c/f long option trade for 2600 (2500 + 100 profit). Now if I buy an option trade for 2000 on same day.
This 2000 will be used from 20000 or from 2600.
Do you keep separate accounts for overnight balance and sale amount of day's option trades

Thanks
 
One more query, please

Suppose I have a overnight credit amount of 20000 in my trading account. I square off a c/f long option trade for 2600 (2500 + 100 profit). Now if I buy an option trade for 2000 on same day.
This 2000 will be used from 20000 or from 2600.
Do you keep separate accounts for overnight balance and sale amount of day's option trades

Thanks
The amount of Rs 2600 can be used only for options buying. So in this case if you buy another option, it'll be from Rs 2600 first so that Rs 20,000 can be used for any other position.

We don't maintain separate accounts for overnight balance and for intraday profits etc. However, using some logic it can be calculated and hence used for the margin reporting purpose.
 

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