To determine which of the two platform sight be better, we have to check out the benefits and drawbacks for each and see what we can determine as the better platform. For a quick review, you can go through the Pros and Cons of both the Option Trading Platforms. But, if you want an in-depth analysis, you may scroll down to collect details on Option Trading, and two popular software Opstra and Sensibull.
Opstra vs. Sensibull
Here's a glimpse of both the platforms:
Pros of Sensibull
•The platform comprises a strategy engine to help in effective trading.
•A sleek and simple user interface for trading in the options market.
•Options analyser, event calendars are some of the many features that make it interesting to use.
•Complex strategy execution in the options market made simple through Sensibull.
Cons of Sensibull
•Options trading output based on your inputs and not on market variabilities.
•Pricing is relatively higher and might not suit many traders.
•Risk and reward oriented filtering in strategies is unavailable.
•Good knowledge of options strategies is required to understand the platform and use it optimally.
Pros of Opstra
•The dashboard features allow traders to see all their potential investment and other potential investment options.
•Volatility skew analysis is carried out effectively.
•Options algorithm to make trades effective and better.
•Open interest analysis charts and representation.
Cons of Opstra
•Complex to use given its compact user interface.
•Many of the popular features used in options trading are absent.
•The fee of using the tool might not suffice my options traders.
In this current day and age, options trading has become the new cool thing that everyone wants to try. There are many option trading platforms out there that provide various Option trading tools. Sensibull and Opstra Definedge are 2 of the most prominent names in the industry. Both of them provide all the necessary tools like OI (Open Interest) Charts, PCR (Put-call Ratio), IV (Implied Volatility) chart, etc.
But the main question lies, Which one of them is a better platform for Options trading. Let's do a detailed analysis and find the answer to that question. Before that, you must know What are Options, option trading and how you can trade in options.
What are Options?
Option is a Derivative instrument which is also termed Option Contracts. These contracts have 2 parties,
- An Option Buyer
- An Option Seller
An option contract is a contract between these two parties to buy and sell the underlying security on a specific date (Expiry Date).
What is Options Trading?
Options trading is done by speculators who are also known as traders who buy and sell options with the intention of making a profit and not holding it till the expiry. Options traders don’t intend to exercise the options contract and just benefit from the price movement/volatility of the contract.
How to trade in Options?
To trade in options, one has to have a Demat account through which they can buy & sell these options. After opening a Demat account, one also needs to submit certain documents in order to active the Derivatives segment in their account. Apart from a Demat account an Options trader also uses Option Analyzing tools and Strategy Building tools.
Option Trading & Analysis Tools:
Some popular ones include:
- Opstra Definedge
- Sensibull
Both of these platforms are unique in their own way. Let's look at each of them in detail.
1. Opstra Definedge
Opstra Definedge is an Options analytics platform that provides many tools to create and backtest various types of option trading strategies. Some important features of Optra are-
- Options Algorithm- Options algorithm is a tool that finds and provides important options trading opportunities for any underlying security as per your desire.
- Options Simulator & backtesting- Opstra provides an advanced platform for traders to create and backtest their own option trading strategies. This can be implemented on the live market with virtual money.
- Open Interest Analysis- Opstra provides an important Open Interest analysis tool that covers all the important data points that a trader required such as PCR (Put Call Ratio), Open interest charts, IV (Implied Volatility) charts, Max Pain analysis, and many more.
- Options Dashboard- This platform provides a dedicated dashboard for option data where one can get a Bird’s eye view on all the important option data for all the F&O (Futures & Options) contracts available for trading on the NSE (National Stock Exchange).
2. Sensibull
Sensibull is certified to be India’s largest Options Trading platform that offers many features. Some of them are-
- Options Strategy Builder- Sensibull allows users to create, backtest and deploy the option strategies onto live markets.
- Algo Trading- Sensibull provides Algo trading (Strategies Wizard) where one can enter the parameters such as Target, Stop loss, and entry after which the app will execute the orders on its own.
- Expert Trades- Sensibull lets its users copy the trades of some expert SEBI registered traders and earn from their knowledge. This is a unique feature that allows many new traders to learn and earn at the same time.
- Option Analysis tools- Sensibull provides all the necessary tools for options trading such as OI (Open Interest), Option Chain, FII & DII data, Screeners, IV (Implied Volatility) Chart, Event alerts, and much more.
Sensibull vs Opstra Definedge - Comparison
Both Sensibull and Opstra are good platforms that provide a ton of features to the users but there are some differences in them, lets compare them into 3 main categories which are:
- User Interface
- Features
- Pricing-
1. User Interface
Sensibull provides a Simple yet informative User Interface that looks futuristic and advanced, on the other hand, the UI of Opstra is good but looks backdated and old. One might find it difficult to spot few advanced features as the platform is very basic. Hence in the term of UI, Sensibull offers a better package.
2. Features
In the terms of Features both the platform provides more than enough features to their users but Opstra Definedge lacks an important feature which Sensibull provides. It is ALGO trading, Algo trading is the latest trend as more and more retail traders want to trade using algo that makes their work a bit easier. Sensibull also offers the feature of directly trading through their platform and from its mobile app which is a great feature to have. Another added feature in Sensibull is that it provides trading tips or calls from SEBI registered traders that can be beneficial to beginner traders.
Apart from algo trading both of the platforms provide the necessary features such as IV chart, OI analysis, PCR, Options data analysis, Virtual Trading, etc.
So Sensibull can be held the clear winner when it comes to features such as ALGO trading, Trading calls, dedicated Mobile App for trading, etc.
3. Pricing
Pricing plays an important role when it comes to a product. A good product with terrible pricing can make it a worse product for consumers. Let's check the pricing on both platforms.
Opstra has only 2, price models. One is the FREE Plan and the other is the Paid plan which is for Rs 1300 per month excluding GST of 18%, and if one opts for 6 months then the price is Rs 1000 per month excluding GST.
On the other hand, Sensibull offers a much broader price package of 3 packages in 2 different models.
In the Monthly price model, there are 3 packages, (FREE, Lite & PRO). The Lite package is for Rs 590 per month and the Pro package is for Rs 800 per month.
Sensibull provides some additional discounts if subscribed for 6 months together. The Lite pack costs Rs 480 per month and the Pro Pack costs only Rs 640 per month. The Lite pack provides the basic features but the Pro package provides a trader with every possible tool that is necessary.
Opstra or Sensibull - What's Your Take?
To conclude it can be said that Sensibull is a clear winner as it offers a Futuristic UI, more features, and better pricing than Opstra. Sensibull clearly is a more “value for money” proposition as it is cheaper than Opstra and is priced at almost half the price of that of Opstra.
As more and more retail traders are shifting towards ALGO trading, Sensibull is one of the top choices of traders for Algo trading. The advance mobile application of Sensibull also lets you connect your broker to the app without and deploy Options strategies on the go. All the mentioned features make Sensibull a better platform than Opstra.
Bottom line
With that being said, it all comes down to personal preference. If you want something packed with features and would help you out extensively as a beginner options trader, then Sensibull is the one for you. However, if you are an expert and what the best, then Opstra should suffice that criteria.
FAQs
Which is the best option trading platform? ›
- tastyworks - 4 Stars - Best options trading platform and tools.
- E*TRADE - 5 Stars - Best web-based platform.
- TD Ameritrade - 5 Stars - Equity tools and research.
- Interactive Brokers - 4.5 Stars - Best for professional options traders.
- Merrill Edge - 5 Stars - Best for beginners.
Sensibull Pro Plan has some compelling plus points with a few "not so very" attractive points. Those serious about options trading could use it to the fullest extent. For others, choosing the free plan should be enough. It's worth depends upon the trading, and they're seriousness about trading in the options segment.
Which is the best strategy builder for option trading? ›Optra – Best Options Strategy Builder App
Optra is an options analysis platform that helps traders in building strategies. It comes with numerous tools for traders to discover, analyze and track options trading opportunities. It provides an option strategy builder online.
definedge.com's top 5 competitors in November 2022 are: sensibull.com, nseindia.com, tradingview.com, chartink.com, and more.
Is Opstra better than Sensibull? ›Short Answer. If you're looking for a straightforward and comprehensive take on options trading, then Sensibull should do the job perfectly. However, if you're and expert and want more complex trading tools, then Opstra is the one to choose.
What is the number 1 trading platform? ›- Fidelity.
- Merrill Edge.
- Interactive Brokers IBKR Pro.
- J.P. Morgan Self-Directed Investing.
- TradeStation.
- Ally Invest.
- Zacks Trade.
- Firstrade.
- RSI or Relative Strength Index.
- Bollinger Bands.
- Intraday Momentum Index (IMI)
- Money Flow Index (MFI)
- Put-Call Ratio (PCR) Indicator.
- Option Interest (OI)
- Zerodha.
- Upstox.
- Angel Broking.
- 5Paisa.
- Trade Smart Online.
Sensibull Pricing
The basic version of Sensibull platform is available free of costs. However, traders need to pay a fee to access higher versions of the sensibull options trading platform. Sensibull Lite comes at an introductory offer of Rs 800/month while Sensibull Pro is available at Rs 1300/month.
- Paul Tudor Jones (1954–Present) The founder of Tudor Investment Corporation, a $11.2 billion hedge fund, Paul Tudor Jones made his fortune shorting the 1987 stock market crash. ...
- George Soros (1930-Present) ...
- John Paulson (1955-Present)
What is the easiest option strategy? ›
Buying Calls Or “Long Call”
Buying calls is a great options trading strategy for beginners and investors who are confident in the prices of a particular stock, ETF, or index. Buying calls allows investors to take advantage of rising stock prices, as long as they sell before the options expire.
Is there a safe options strategy? Covered calls are the safest options strategy. These allow you to sell a call and buy the underlying stock to reduce risks.
Is there an app to practice options trading? ›Moomoo. Another fantastic way to practice options trading without using real money is with a Moomoo paper trading account. They offer a desktop and mobile trading platform that allows you to practice your skills and test your option trading strategies.
Can you automate options trading? ›Traders do have the option to run their automated trading systems through a server-based trading platform. These platforms frequently offer commercial strategies for sale so traders can design their own systems or the ability to host existing systems on the server-based platform.
Is Sensibull option chain free? ›No, we will not charge you anything for logging in with broker. We don't make any automatic/hidden charges/deductions. Many features in Sensibull are 100% free to use forever.
Which broker has best option fills? ›- Best for Short Selling: TradeZero.
- Best for Global Traders: Interactive Brokers.
- Best for Options Spreads: Options AI.
- Best for Long Term Investors: Magnifi.
- Best for Advanced Traders: TradeStation.
- Best for Day Traders: TD Ameritrade.
- Best for Options Education: Tastyworks.
OPSTRA Now
Trade Directly from Opstra - Futures and Options of Equity, Currencies, and Commodities. Realtime price updates of the positions. All these features at a far reduced price. With the wallet feature, the Opstra subscription amount will be adjusted against brokerage making Opstra completely free.
Manish Dewan can be considered the all-rounder of option sellers. He is as comfortable taking directional trades as he is in taking non-directional ones.
What broker do most traders use? ›- Fidelity Investments.
- Interactive Brokers.
- TradeStation.
- TD Ameritrade.
- E-Trade.
- Charles Schwab.
The IMI or the Intraday Momentum Index is most suitable for high frequency options traders who trade intraday. This indicator is considered as one of the best indicators for options trading. This indicator combines the oversold-overbought condition with intraday trading range.
Which indicator has highest accuracy? ›
The STC indicator is a forward-looking, leading indicator, that generates faster, more accurate signals than earlier indicators, such as the MACD because it considers both time (cycles) and moving averages.
What is the best time frame for options trading? ›Ans: The appropriate time frame for options trading depends on your purpose and research of the trade. However, a range of 30-90 days can be a good time frame for most trades.
Which app is better than Sensibull? ›sensibull.com's top 5 competitors in November 2022 are: niftytrader.in, nseindia.com, zerodha.com, neostox.com, and more.
Who is option trading king? ›Options selling is a big boys game and Mitesh Patel is among the bigger ones in the market. Coming from a humble background Mitesh Patel uses basic technical analysis and options knowledge to consistently take money from the market.
Who is best mentor for options trading in India? ›Raamdeo Agrawal- Raamdeo Agrawal, the co-founder of Motilal Oswal Group, has also built a reputation as one of the best traders in India in the Indian stock market.
Which is the best virtual option trading app in India? ›TradingView, TrakInvest, Dalal Street, and Money pot are some of the best virtual trading apps in India. Apart from that, there are certain websites that are good for virtual trading, like, Moneybhai by Moneycontrol, Investopedia Stock Simulator and Market Watch Virtual Stock Exchange.
How many people use Sensibull? ›Sensibull claims to have around 20,000 logins into the platform, with 3,000 people being on the platform every day. The startup was incubated by fintech fund and startup incubator Rainmatter, a Bengaluru-based incubator, a startup initiative by Zerodha.
Is Sensibull owned by Zerodha? ›...
Zerodha Kite Vs Sensibull.
| Zerodha Kite | Sensibull | |
|---|---|---|
| Platform Owner | Zerodha | Sensibull |
| Trading Segments Offered | Stocks, Commodity, Currency, Derivatives | Equity Derivatives |
Selling naked calls is the riskiest strategy of all. In exchange for limited potential gain, you assume unlimited potential losses.
What percentage of option traders are successful? ›However, the odds of the options trade being profitable are very much in your favor, at 75%. So would you risk $500, knowing that you have a 75% chance of losing your investment and a 25% chance of making a profit?
Who is the biggest option trader in the world? ›
"George Soros."
How do you avoid loss in option trading? ›The option sellers stand a greater risk of losses when there is heavy movement in the market. So, if you have sold options, then always try to hedge your position to avoid such losses. For example, if you have sold at the money calls/puts, then try to buy far out of the money calls/puts to hedge your position.
How to do option trading without loss? ›No loss option strategy : “in this strategy, You have to write extreme in the money call and put options at the same time and hold them till expiry. This strategy always pays 10-20% average return on capital”
How do you trade options and never lose? ›- Sell options quickly. Unlike investors, who can buy and hold indefinitely, options expire on a certain day and time. ...
- Don't be a stubborn seller. ...
- Don't sell options on stocks you don't own. ...
- Cut your losses quickly. ...
- Sell at the extremes.
One strategy that is quite popular among experienced options traders is known as the butterfly spread. This strategy allows a trader to enter into a trade with a high probability of profit, high-profit potential, and limited risk.
Why do most options traders lose money? ›Traders lose money because they try to hold the option too close to expiry. Normally, you will find that the loss of time value becomes very rapid when the date of expiry is approaching. Hence if you are getting a good price, it is better to exit at a profit when there is still time value left in the option.
Which option trading is safest? ›Two of the safest options strategies are selling covered calls and selling cash-covered puts.
Can you get rich from options trading? ›An option buyer can make a substantial return on investment if the option trade works out. This is because a stock price can move significantly beyond the strike price. For this reason, option buyers often have greater (even unlimited) profit potential.
Is Robinhood or TD Ameritrade better for options? ›After testing 17 of the best online brokers over three months, TD Ameritrade (97.39%) is better than Robinhood (83.65%). TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service.
Can someone get rich trading options? ›But, can you get rich trading options? The answer, unequivocally, is yes, you can get rich trading options. If you're like most people reading this article, this is probably the answer you were hoping for.
Which time frame is best for option trading? ›
Ans: The appropriate time frame for options trading depends on your purpose and research of the trade. However, a range of 30-90 days can be a good time frame for most trades.
What is the easiest option trade? ›Buying Calls Or “Long Call”
Buying calls is a great options trading strategy for beginners and investors who are confident in the prices of a particular stock, ETF, or index. Buying calls allows investors to take advantage of rising stock prices, as long as they sell before the options expire.
Radhakrishnan Damani is the richest trader in India, with a portfolio valued at 16 stocks with a net worth of over Rs 2,04,188.62 crores as of September 2022 . Generally, he maintains a very low profile and does not appear in public.
Which option strategy is most profitable? ›One strategy that is quite popular among experienced options traders is known as the butterfly spread. This strategy allows a trader to enter into a trade with a high probability of profit, high-profit potential, and limited risk.
Which stock broker is best for option selling? ›Zerodha (₹20/trade) ProStocks (₹899 Unlimited) Upstox (₹20/trade) Espresso (Sharekhan) (₹20) Paytm Money (₹15/trade) More Discount Brokers... Angel One (₹20/trade) ICICI Direct (₹20/trade) Nuvama (₹10/trade) Sharekhan Anand Rathi More Brokers...
Which broker gives more margin for option selling? ›Highest Margin Brokers In Option Trading:
Asthatrade brokers provides you with the Highest margin in India for option writing(Selling) as well as buying. As we all know the most traded options in Indian are NIFTY & BankNifty due to their liquidity.
After testing 17 of the best online brokers over three months, Fidelity (98.22%) is better than TD Ameritrade (97.39%). Our top pick overall for 2023, Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.
Why am I losing money in options trading? ›Traders lose money because they try to hold the option too close to expiry. Normally, you will find that the loss of time value becomes very rapid when the date of expiry is approaching. Hence if you are getting a good price, it is better to exit at a profit when there is still time value left in the option.
What is the best way to learn options trading? ›- Bullish Bears. Options Trading Course.
- Udemy. The Complete Foundation Stock Trading Course.
- Udemy. Options Trading for Rookies (Part 1-3): Understand Options Completely.
- Udemy. Options Trading for Beginners.
- Investopedia Academy. Trading for Beginners.
- Coursera. ...
- Simpler Trading. ...
- Skillshare.
You'd think that someone like Buffett who seems devoted to blue-chip stocks would steer clear of complicated derivatives, but you'd be wrong. Throughout his investing career, Buffett has capitalized on the advanced options-trading technique of selling naked put options as a hedging strategy.