JustTrade (Bajaj Capital) is calculating turnover (I repeat it's turnover and not the brokerage) in options segment by following method:
Turnover = (Strike Price+Premium Paid) X Number of contracts X Contract size
For example if Strike price is 3000, Number of Contract is 10, Premium paid is 60 and Nifty Option Contract size is 50 then
Turnover (according to JustTrade) = (3000 + 60) X 10 X 50 = 1530000 (15 Lac and 30 thousand)
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But according to me Turnover in option segment must be as follows:
Turnover = Number of Contracts X Contract Size X Premium Paid
Taking the above same example, Turnover according to me must be as follows
Turnover (in my case) = 10 X 50 X 60 = 30000 (30 thousand)
Now you guys decide whether JustTrade is right or I am right?
PS: I am assuming that they are mixing brokerage calculation (however that is also old brokerage calculation, now brokerage is calculated just on the premium and not the strike price) with turnover calculation but they are not accepting that they are wrongly calculating turnover as told by me to them on customer service number.
Turnover = (Strike Price+Premium Paid) X Number of contracts X Contract size
For example if Strike price is 3000, Number of Contract is 10, Premium paid is 60 and Nifty Option Contract size is 50 then
Turnover (according to JustTrade) = (3000 + 60) X 10 X 50 = 1530000 (15 Lac and 30 thousand)
---------------------------------------------------------------------------------------------------------------------
But according to me Turnover in option segment must be as follows:
Turnover = Number of Contracts X Contract Size X Premium Paid
Taking the above same example, Turnover according to me must be as follows
Turnover (in my case) = 10 X 50 X 60 = 30000 (30 thousand)
Now you guys decide whether JustTrade is right or I am right?
PS: I am assuming that they are mixing brokerage calculation (however that is also old brokerage calculation, now brokerage is calculated just on the premium and not the strike price) with turnover calculation but they are not accepting that they are wrongly calculating turnover as told by me to them on customer service number.