ICICIdirect Executive Thank you for the query. We would like to inform you that as a customer of ICICIdirect, now you can trade on commodities futures on MCX. It comes with a comprehensive tracking cum risk management solution to give you enhanced leveraging on your trading limits.
In Commodities Future trading, you take buy/sell positions in commodity Future contracts expiring in different months. If, during the course of the contract life, the price moves in your favor (rises in case you have a buy position or falls in case you have a sell position), you make a profit. In case the price movement is adverse, you incur a loss.
To take the buy/sell position commodity Futures, you need to have a certain amount of margin to place order(s). With futures trading, you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment. However, the risk profile of your transactions goes up.
In Commodity segment I Place Order page, you need to define the Underlying. On clicking on Select contract , the whole list of contracts available in the given stock code expiring in different months would be displayed. Depending on your interest, you can select one of the contracts by clicking on buy / sell link. You need to define the order type i.e. market or limit, Order Validity i.e. Day or IOC (Immediate or Cancel) or GTC (Good Till Cancelled) or GTD (Good Till Date), order validity period i.e. date for GTD, limit price and stop loss trigger price if any.
For placing order: Log into your account (new website) > Commodity > Place Order
For more details: Log into your account (new website) > Commodity > Click on [+] icon > FAQs
ICICIdirect Executive Thank you for the query. We would like to inform you that the transaction Statement is sent to the registered e-mail id after the end of the Quarter/Half Year/complete year. You may refer to the F&O transaction statement.
You can also request to ICICIdirect customer care team and it shall be sent only after the end of Quarter/Half Year/complete year (if trades are done for the mentioned period).
An option is a contract, which gives the buyer the right to buy or sell shares at a specific price, on or before a specific date. For this, the buyer has to pay to the seller some money, which is called premium. There is no obligation on the buyer to complete the transaction if the price is not favorable to him.
To take the buy/sell position on index/stock options, you have to place certain % of order value as margin. With options trading, you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment.
The Buyer of a Call Option has the Right but not the Obligation to Purchase the Underlying Asset at the specified strike price by paying a premium whereas the Seller of the Call has the obligation of selling the Underlying Asset at the specified Strike price.
The Buyer of a Put Option has the Right but not the Obligation to Sell the Underlying Asset at the specified strike price by paying a premium whereas the Seller of the Put has the obligation of Buying the Underlying Asset at the specified Strike price.
By paying lesser amount of premium, you can create positions under OPTIONS and take advantage of more trading opportunities.
We suggest you view a video on how to place an order in options from the below link.
ICICIdirect Executive Thank you for the query. We would like to inform you that Convert to Future (CTF) is an added feature provided under FuturePLUS product where one can convert his existing position under a contract in FuturePLUS to Future position of the same contract within the stipulated time prescribed by I-Sec. You will find the link of Convert to Future in open positions page against each position under a contract in the column of Actions . Once you choose to convert the existing open position to Future, following remark will appear You are requesting to convert FuturePLUS position to Future .
FuturePLUS is an intraday product wherein any position taken needs to be squared off on the same trading day or Convert to Future (CTF) till the end of the day by the customer itself. If customer doesn t place square off or does CTF for his position by the end of the day before the stipulated time, then following possibilities may arise, viz:
1) ICICI Securities may run End of settlement Square off process which will square off the open FuturePLUS position generally 3:15 pm onwards on best effort basis.However, I-Sec reserves the right to change the square off timing , if required, especially during volatile days.
2) The FuturePLUS position may be compulsorily converted to future position by the system at the end of the day.
When FuturePLUS position is converted to a Futures position, the additional margin amount is required as applicable for Futures positions. The additional margin to be blocked on conversion would be the difference of the required margin for Futures and the already blocked margin for FuturePLUS position. The limit would be accordingly reduced with the differential amount of margin requirement. On conversion of FuturePLUS position to Future position the condition of Available Margin(AM)* and Minimum Margin(MM)* for the proposed Future position would be checked before blocking the additional margin amount required as follows:
1. If AM>=MM,of proposed Future position then additional margin required will be,
Initial Margin % required for Future position on Base price i.e.weighted average price of existing FuturePLUS position - Blocked Margin for existing FuturePLUS position.
2. If AM
Initial Margin required for future position on Base price i.e.weighted average price of existing FuturePLUS position - Available Margin for existing FuturePLUS position.
For both the above scenarios, if current limit is more than or equal to the additional margin required, only then you would be allowed to convert your existing FuturePLUS position to Future position.
* Please refer below link to know about Available Margin and Minimum Margin, and FAQs related to Convert to Future (CTF)