Sensibull is one of the most popular options trading platforms available to Indian traders, with over 5,00,000 monthly users. The platform is known for its innovative features, like option strategies, screeners, charts, etc., that aid traders in making effective trades.While we have covered many stock analysis and trading platform, this post focus on option traders.
In this post, we will review Sensibull in detail, looking at its key features, how the platform works, its pricing model, and how it compares with its major competitors.
What is Sensibull?
Sensibull is an options trading platform offered by Riskilla Software Technologies Private Limited and funded and backed by Rainmatter by Zerodha. It provides a plethora of features and tools for option traders of all kinds- beginners or veterans. Sensibull aims to make trading options safer and more accessible and build an education ecosystem around them.
The platform offers tools to trade options by guessing market directions, trade options strategies, practicing trading through draft portfolios, create and analyze custom strategies, among many more. We will review some of the key features and tools Sensibull offers.
Founded in 2017, Sensibull is the first and largest options trading platform in India. While that claim can be questioned, Sensibull has fared well over the years, having partnered with some of the largest brokers in India, and being backed by Zerodha’s Rainmatter initiative.
Team behind Sensibull
Abid Hassan, Co-founder and CEO of Sensibull is an alumnus of NIT Calicut, the University of Cologne, and IIM Ahmedabad. Before starting Sensibull, Abid traded derivatives for reputed organizations like IIFL, STCI, and ICICI Bank.
Co-founder and Product and Growth Head, Balajee Ramachandran, is also an alumnus of NIT, Calicut, and worked as the founding engineer for the platform. Sensibull’s third Co-founder and Technology Head, Sidharth Reddy, holds an MS in Electrical Engineering from Southern Methodist University.
Sensibull Plans, Pricing, and Features
To trade on Sensibull, you need to first login. To do so, you can either use your broker account and log in through your broker or simply sign in with your Google account. Sensibull allows you to log in through some of the most well-known brokers in India, including Zerodha, Angel One, Upstox, and ICICI Direct.
You can use Sensibull with your Zerodha account at absolutely no extra charges. However, for other brokers, you will have to subscribe to a premium plan on a monthly or six-monthly basis.
There is a free plan as well with limited options and a few basic features. The premium version, ‘Pro Plan’, can be subscribed for INR 800 per month, or INR 640 each month for a period of six months.
However, if you have a broking account on Zerodha, the PRO plan is absolutely free!
Some of the key features offered with the Pro Plan are as follows:
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Options Strategy Builder
It allows you to build custom strategies, see payoff diagrams, analyze different scenarios, and trade with a single click. The strategy builder also shows profit and loss projections for each plan.
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Analyse Trades & Positions
This lets you analyze your positions under various scenarios, visualize the payoffs, modify your strategies, and perform adjustments.
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Basket Orders
This allows you to execute multiple orders using an options strategy with a single click.
Sensibull allows the Analysis widget for basket orders on Zerodha’s Kite. To do this, go to Orders in Kite Web, select the Baskets Tab, create a basket order, and click on the Analyse button.
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Strategy Wizard
This feature suggests the right options and strategies for achieving your targets for the market or a particular stock.
To use the Strategy Wizard feature, you have to make predictions for a particular stock or index and determine a target and a target date. There are multiple options in the form of Filters to help you specify your targets for a more precise strategy recommendation.
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Draft Portfolios
You can create custom portfolios and track and analyze them. This feature allows you to learn and practice trading.
The data in the Draft Portfolios tool is delayed by 1 minute to comply with regulations. However, it gives a fair idea of the markets. Besides, it’s a very useful tool for beginners to practice trading.
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Analysis tools
The Pro Plan offers multiple tools to help you analyze your strategies and the market. These include- a basic option chain, advanced option chain, open interest charts, live options charts, stock heat map, options screener, technical signals, etc.
How Sensibull Works?
Once you have logged in to the platform, you can explore the different tools and features offered by Sensibull. If you are a beginner, you can start by exploring tools like Easy Options, Strategies Wizard and Draft Portfolios. You can find these tools right in the home page of your dashboard once you have logged in.
With Easy Options, you trade options strategies just by guessing the market direction. It allows you to get limited loss options strategies, which means no matter where the market goes, you will only lose a fixed amount.
Suppose you have your set of targets for the market or specific socks. In that case, Strategies Wizard can be a promising tool that lets you trade the best options strategies out of the thousands of possible combinations just by inputting your targets based on your market view on stocks and indices.
Draft Portfolios allow you to practice trading options to your heart’s content without fearing losing money in the markets.
Besides these basic tools, Sensibull offers various advanced tools and features to help you create your own strategies based on your analysis. These tools include data, charts, analytical tools, etc.
If you are just beginning your journey of trading options, the learning tools offered by Sensibull can be of great help. The platform offers free video courses in English and Hindi to help you get started with options trading and learning the advanced aspects. You can learn options trading, market predictions, options strategies, Greeks, etc., on the platform itself.
Besides, the ‘Verified by Sensibull’ feature allows you to track live Profit and Loss and trades of some popular and verified options traders in India. You can also share your own P&L and interact and learn from your fellow traders on the platform.
Frequently Asked Questions (FAQs) on Sensibull
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Can I practice trading on Sensibull?
Yes, you can use the Draft Portfolios feature on Sensibull to practice trading without involving any real money. Besides, Sensibull offers multiple education resources and features to help you learn and practice options trading.
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Is Sensibull free with Zerodha?
Yes, all Sensibull features are free for users logging in with their Zerodha account. Zerodha announced back in July 2023 that the options trading platform will be available for free of cost for all its customers.It is to be noted that Sensibull is backed and funded by Zerodha’s Rainmatter.
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Is there a free trial for Sensibull?
For Zerodha users, all the premium features are available free of cost. While for others, when you first log in to Sensibull, you are automatically given a free trial for 3 days to explore all the Pro features. Otherwise, you can also activate a 7-day free trial on your own.
- What features are available with the Free plan?
The Free plan offers a few basic tools and features- Basic Option Chain, Verified P&L, Daily Market Analysis, Learn Options Trading, Stock Results, and Events Calendar, WhatsApp Alerts, Stock Data, Watchlist, Positions Page, FII DII Data, etc.
Conclusion
Options trading is a tricky way to make easy money! That being said, educating yourself on the theoretical and technical aspects of options trading, strategies, and market predictions is always better. Sensibull is one of the most popular options trading platforms available to Indian traders. Fortunately, it comes with several tools and features to help a beginner get on board, besides the advanced features offered on the platform. What makes it most lucrative is that it is free of cost for users logging in with the most popular broker in India, Zerodha.
You can check out unbiased review of top investment platforms in India on our website.
