I am new to option selling and here is my question related to my last trade:
I took a trade day before yesterday on Angle broking and it looked something like this (I had 1.5 lakh in my account)
2 quantity each
PE position with Hedge
CE position with Hedge
now, after taking this position I was left with 30k margin
Now, yesterday as you know that it was a single side move so my CE position got SL, so I wanted to open up another PE position (2 quantity)
I already had 1 PE position from yesterday.
So I closed my CE position and now I am left with 80k funds in my account.
But now Angle broking gave an error message that my margin is 1.5 lakh and I need 2 lakh to place this trade
I questioned about this to Angle broking and here is their response
We would like to please check you fund balance 150934.75 Rs and your limit. when you place order than full margin required after next day your margin will reduce according your hedge position
So, I assume that they didn't consider my last day position to calculate the new margin. Because opening up a new position just needed me 60k (I had 80k in my funds) but still I couldn't place the order.
Is this the rule or only Angle broking does it?
I mean I can sell 4 lot of option with hedging under 1.5 lakh for sure but just because it was the next day I wasn't able to place the order.
Do all brokers does that? if not, then I will switch to other broker immediately
I took a trade day before yesterday on Angle broking and it looked something like this (I had 1.5 lakh in my account)
2 quantity each
PE position with Hedge
CE position with Hedge
now, after taking this position I was left with 30k margin
Now, yesterday as you know that it was a single side move so my CE position got SL, so I wanted to open up another PE position (2 quantity)
I already had 1 PE position from yesterday.
So I closed my CE position and now I am left with 80k funds in my account.
But now Angle broking gave an error message that my margin is 1.5 lakh and I need 2 lakh to place this trade
I questioned about this to Angle broking and here is their response
We would like to please check you fund balance 150934.75 Rs and your limit. when you place order than full margin required after next day your margin will reduce according your hedge position
So, I assume that they didn't consider my last day position to calculate the new margin. Because opening up a new position just needed me 60k (I had 80k in my funds) but still I couldn't place the order.
Is this the rule or only Angle broking does it?
I mean I can sell 4 lot of option with hedging under 1.5 lakh for sure but just because it was the next day I wasn't able to place the order.
Do all brokers does that? if not, then I will switch to other broker immediately