Dhan Web Options - Feature request

[abhilasharyan]

Hello There,

Traders place basket orders for margin benefit. But ‘Basket’ user experience needs improvement.

1. Currently, there is no feature to add specific option PUT/CALL to an existing created basket. We get an error, (screenshot attached). Can we have an option to add to specific basket. For example, if I create straddles in strategy builder, FINNIFTY, BANKNIFTY, NIFTY. I want to add them to my respective created baskets existing in my account. FIN_basket, BANK_basket, NIFTY_basket.
   

   

2. When strategy gets built on Options Web, when we execute it’s not looking like the order is getting as basket order, needs to be tagged ‘basket’ from your end. Sometimes, it’s getting executed separately, losing the hedge benefit.

3. Traders should be able to add the desired PUT/CALL from directly from Option chain window on tv.dhan.com. Should have option to add those respective PUT/CALL strikes to existing baskets like already explained. We have this, option in Advanced option chain on web.dhan.com but can it be integrated to tv.dhan.com option chain.

Thanks,
Abhi

[PravinJ]

Hi @abhilasharyan, good to see you back on community after a while.

1. Yes, you can do this, but it seems you already have another basket by the same name. You can save an existing pre-built strategy / custom strategy and then edit the Basket as you wish, add any specific put or call.

2. There is no need to tag order as basket to get hedge benefit. If there is a specific order you would like us to check, do drop a note on help@dhan.co and our team will review this.

3. There are limitations on tv library, however will check if this is possible. That is same reason we allow existing baskets from web.dhan.co to be available on tv.dhan.co

[abhilasharyan]

Hi Pravin,

Thank you for your super fast response.

Traders who want to save into new basket, it works. (your current existing functionality)
Traders who want to save into existing basket, may be some drop down beside the ‘save’ button, add to the existing basket. (screenshot solution). Along the lines which you already in advanced option chain.

To augment your existing functionality while placing on order from strategy builder on ot.dhan.co, can we add something like this shown in screenshot, where we can add to the existing basket.

[Sameet]

Hi @abhilasharyan,

We will surely explore this to enhance our platform based on user’s feedback. Thanks for your suggestion.

[abhilasharyan]

Hi Pravin,

There is still an issue with Dhan’s basket order execution. When I executed basket order on Dhan, it got rejected. The Overall margin, 57940.84, Final Margin, 57285.40. The funds in account are around 1,49,926.19.

I’ve sent an email and order id, issue screenshot to help@dhan.co. But got a response, which isn’t making sense. Here’s your customer service reply,

“As checked, the overall margin is not available in your account hence the order has been rejected with rejection reason fund Limit insufficient. To execute this basket the overall margin requirement is Rs.2,49,288.83/-.”

While placing the basket order overall margin amount is required. It is simply a sum of margin required for each leg to execute in the particular sequence. This is the minimum amount you need to have in your account to successfully execute all orders of the basket. After executing all the orders final margin amount (after considering hedging) )will get blocked from your account."

Your strategy builder says required overall margin required is, 57940.84.
Your Customer service rep says, I need Rs.2,49,288.83 as overall margin

Can you help me understand who’s right here, your Strategy builder or Rep?
It happened thrice for me now (basket order failing) on Dhan.

[JayK]

Hi @abhilasharyan,

Apologies for the confusion. The on Options Web, “Overall margin” needs optimizing, hence request you to please refer to Dhan web for the actual overall margin required. The margin changes as per sequence you choose.

For the basket our customer service executive saw at the time of email, here is the margin required and order sequence:

For the basket you have shared above, here is the margin required:

If we add Buy segments first in the above strategy, the margin requirements changes accordingly:

Once again, for now, please refer to Dhan Web for exact requirement. Hope this helps.

[abhilasharyan]

Hi JayK,

Thanks for letting me know the trick of putting the ‘BUY’ orders first before the ‘SELL’.
So trader has to manually sort it out than, ‘B’, ‘B’, ‘S’, ‘S’, to reap the margin benefit.

Looks like based on sorting order of basket, all of us are right

Previously, I built the strategy on ot.dhan.co, and executed from there, few of ‘sell’ orders used to fail. Seeing this basket issue, I than saved them using the ‘Save basket’ feature and than go to web.dhan.co, and tried to execute ‘saved basket’ from there, still the basket order fail issue remains, I emailed you folks today. At the time of executing of the order, web.dhan.co showed me overall Margin around 75k. I understand, depending upon time, the Margin keeps changing, per VIX. The VIX was low at the time of ordering.

When I saved the basket from Strategy Builder, the basket order (‘B’, ‘S’, ‘S’, ‘B’) remained the same. The VIX was low, the Overall Margin required was 75k, still the order failed. The VIX has increased later part of the day, at the time of your checking.

The lessons I as a trader learned today, are

1. What Trader sees on ot.dhan.co and web.dhan.co during execution are different.
2. Successful execution of basket orders on Dhan relies on keeping the ‘B’ orders first.

The feedback for you folks,
For your customer service rep, rather than jump into conclusion, Trader is wrong. She should’ve first checked with issues from Trader’s point of view. She missed 2 things.

1. At time of Trader’s execution, is the VIX low or high?
2. Is the order of margin calculation per the Trader’s basket, ‘B’, ‘S’, ‘S’, ‘B’. which gave me OM as 75k and her basket’s order, ‘S’, ‘B’, ‘S’, ‘B’ which showed 249k

For product team, may be improve/unify Dhan’s the basket order execution in such a way, what’s best for the Trader?

Does the Dhan’s basket order execution should be in such way that it reduces Trader’s Overall Margin?

1. ‘B’, ‘B’, "S’, ‘S’, so that Trader’s Overall Margin reduces to 92k
2. ‘S’, ‘B’, "S’, ‘B’, so that Trader’s Overall Margin reduces to 249k
3. ‘B’, ‘S’, "S’, ‘B’, so that Trader’s Overall Margin reduces to 163k

Dhan’s tech API’s/code should automatically execute basket order so execution sequence defaults to lowest Overall Margin, ‘B’, ‘B’, ‘S’, ‘S’. Innovating on the behalf of Traders, will put your folks in elite league of brokers. Like you’re the first Indian broker to fully integrate to TradingView.

You folks solved the issue where Traders don’t have to switch between to and fro from TradingView and then execute orders on broker’s platform, to save it time, so opportunities aren’t lost.

Here’re you’re saying, " hence request you to please refer to Dhan web for the actual overall margin required. The margin changes as per sequence you choose."

Why should Traders have to switch to and fro from ot.dhan.co and then web.dhan.co to check OM?
It’s gives me an impression that your product innovation philosophy of solving Traders issues (like creating unified TradingView experience) isn’t seeping into other parts of product development.

[JayK]

Hi @abhilasharyan,

Noted your feedback for the service team.

With regard to order sequence, as a broker, we cannot decide that for users and hence we give the option to change as per their strategy and margin required.

Finally, asking to check for basket margin on Dhan Web, it is temporary workaround for a very limited period of time while we optimize the Options Trader Web experience.

Thanks again for your feedback.