Dear Dhan Team,
I am an active options trader using Dhan, and I am facing a practical problem with managing multiple option strategies simultaneously.
I deploy several types of strategies, including:
-
CE Credit/Call Spread – generally 3 legs
-
Weekly Butterfly Strategies – generally 6 to 8 legs
-
Calendar Spreads – generally 4 legs
-
Monthly Strategies – generally 3 to 4 legs
-
Intraday Option Strategies – which I also test and deploy from time to time
The main difficulty starts after these strategies are deployed and the positions are running.
Since all the individual option legs are displayed together in the Positions section, it becomes difficult for me to identify:
-
Which position/leg belongs to which strategy
-
The combined P&L of a particular strategy
-
Which legs should be exited together
-
Whether a particular CE/PE leg belongs to my weekly, monthly, calendar or intraday strategy
-
How much profit or loss has been generated by each individual strategy
For example, if I have deployed a 6-leg Weekly Butterfly and, at the same time, a 3-leg CE Spread, the individual positions are mixed together in the Positions section. During exit, I have to manually identify each leg. This creates a significant possibility of exiting the wrong leg or leaving one leg of a strategy open unintentionally.
I understand that I can save the strategy separately on another platform to monitor its P&L, but the actual live positions in Dhan still need to be managed individually.
I have noticed that Zerodha Kite provides a position grouping facility Like week and next week separate, which makes it easier to organize related positions and manage them together.
I request Dhan to consider providing a similar Strategy-wise Position Grouping facility.
Suggested Feature
When a strategy is deployed, Dhan could automatically assign a unique Strategy ID/Group ID to all its legs.
For example:
Strategy 1 – Weekly Butterfly – 01 Oct Expiry
-
Buy CE
-
Sell CE
-
Sell CE
-
Buy CE
-
etc.
-
Combined P&L: ₹XXXX
Strategy 2 – CE Credit Spread – 01 Oct Expiry
-
Sell CE
-
Buy CE
-
Hedge leg
-
Combined P&L: ₹XXXX
Strategy 3 – Calendar Spread – 29 Oct / 01 Oct
-
Near-expiry leg
-
Next-month leg
-
Combined P&L: ₹XXXX
The Positions screen could then provide:
All Positions
→ Strategy-wise Groups
→ Individual Legs
Each group should ideally display:
-
Strategy name
-
Strategy ID
-
Expiry
-
Number of legs
-
Combined quantity
-
Average entry value
-
Current value
-
Realised P&L
-
Unrealised P&L
-
Total strategy P&L
-
Margin used
-
Individual legs
Most importantly, there should be an option such as:
EXIT ENTIRE STRATEGY
This would automatically close all legs belonging to that particular strategy.
There should also be an option to expand the group and exit individual legs when required.
Additional Useful Feature
Please consider allowing users to give a custom name/tag to a strategy, for example:
-
Weekly Butterfly – 01 Oct
-
NIFTY CE Spread – Intraday
-
Bank Nifty Calendar – October
-
Monthly Income Strategy – October
-
Test Strategy 01
This would make it much easier to manage multiple strategies simultaneously.
Why this is important
As the number of option legs increases, manually identifying individual positions becomes difficult and increases the risk of:
-
Exiting the wrong leg
-
Missing one leg during exit
-
Leaving an unhedged position
-
Mixing positions from different strategies
-
Incorrectly assessing strategy-wise P&L
-
Difficulty monitoring multiple weekly/monthly/intraday strategies
A proper Strategy Position Grouping facility would make Dhan much more convenient for multi-leg options traders.
I request the Dhan team to please confirm:
-
Is a strategy-wise position grouping feature currently available in Dhan?
-
If yes, please provide the exact steps to use it for already-open positions.
-
If not, is this feature under development or planned?
-
Can Dhan provide a way to assign a Strategy ID/Tag to every leg at the time of deployment?
-
Can you provide combined strategy-wise P&L and one-click strategy exit?
I would appreciate it if this feature could be considered on priority for multi-leg options traders.
Regards,
Ashokkumar Patel
Dhan User