Indian broker Zerodha announced on Thursday that it has added a new options chain feature to its Kite trading platform.
The new product is designed to give traders a clear overview of the options market and help simplify the trading process.
On the platform, traders can scroll through all the open contracts on a specific underlying asset.
The platform displays open interest in both call and put options on individual contracts with different strike prices.
Traders can also easily see how far out of the money a given contract as it, as well as the ability to toggle on or off the ‘greeks’ – more detailed stats that clients can use to make trading decisions.
Zerodha Founder and CEO Nithin Kamath noted that the platform “has pretty much everything you need to trade options from a single screen from order placement to tracking positions.”
India has emerged as one of the biggest options trading market in the world and probably is the largest purely in terms of number of contracts traded.
According to derivatives trade body FIA, in 2023 Indians traded 84.3bn equity index options contracts in 2023.
The entire global total was 108.2bn, meaning India was responsible for close to 80% of all options contracts traded on equity indices that year.
India has also emerged as one of the main hubs for the wider online trading industry, with several firms seeing huge amounts of traffic from the country.
