PRODUCT FEATURE PROPOSAL

Sahi
Plays

Pre-built options strategies. One-tap execution. Built-in payoff math. Stop legging into trades like it's 2015.

By Gaurav · Product & Strategy Intern Application · April 2026

The Opportunity

India runs on F&O.
The execution UX is still stuck in 2015.

Multi-leg strategies (the only way retail can hedge) require placing 2-4 separate orders, calculating margin manually, and praying nothing slips. Sahi already serves serious traders. This makes serious trading easier.

99%
of NSE turnover is F&O. Cash equity is a rounding error
NSE Annual Report
93%
of retail F&O traders lose money in any given year
SEBI Study, Jan 2024
~Rs 2L
Avg annual loss per loss-making F&O retail trader
SEBI Study, Jan 2024
~1 Cr
Active retail F&O traders in India, growing 30% YoY
NSE / SEBI
Real Test
I tried placing an Iron Condor on a discount broker.
Recorded every step. The product makes basic risk-management painful.
0:00 Decided to play Nifty Iron Condor: sell 23800 CE, buy 23900 CE, sell 23200 PE, buy 23100 PE.
0:30 Searched for option chain. Found 23800 CE. Placed sell order. Filled.
2:10 Searched 23900 CE. Placed buy order. Spreads moved while I was navigating. Re-entered.
3:45 Realized 23800 CE filled at Rs 142, but 23900 CE now costs Rs 88, not Rs 76. Slippage: Rs 600 per lot already.
6:00 Placed remaining 2 legs. Margin shown was Rs 1.4L, way more than the actual Rs 28K hedged margin. App didn't recognize the spread.
8:00 No payoff diagram. No max-loss / max-profit shown anywhere. Ran the math myself in a spreadsheet.
22:00 Whole flow took 22 minutes. Slippage cost Rs 1,200 across legs. A 4-tap experience should not take 11 taps.
⚡

Sahi's positioning fits this perfectly

Sahi is built for the trader who graduated from Groww and wants real tools. Plays makes that promise concrete: faster, smarter, less manual.

🛡

SEBI is pressuring brokers on retail losses

The Jan 2024 SEBI study made every F&O broker a target. Tools that explicitly show max-loss before entry are a regulatory good story, not just a UX win.

💰

Strategies are 2-4x brokerage per click

Each Iron Condor is 4 legs. Each Bull Call Spread is 2. One Plays click = revenue of multiple discrete orders, with zero new acquisition cost.

User Personas

Who are we building for?

Built from 80+ Reddit threads on r/IndianStreetBets and r/IndiaInvestments, conversations with 4 active F&O traders in my network, and the Sahi App Store reviews.

👨
Rohan, 28
Software engineer, Bengaluru
Trades part-time. Knows strategies in theory but keeps placing single-leg trades because multi-leg is annoying.
  • ✕ Quote "I read about iron condors but I'm not legging into 4 trades during market hours"
  • ✕ Pays full naked margin instead of hedged margin because app doesn't recognize his spreads
  • ✕ Calculates max loss in his head, sometimes wrong
👩
Priya, 34
Full-time trader, Mumbai
Trades 50+ lots a day. Uses Sensibull or Opstra for analysis, then places orders manually on her broker. Hates the context switch.
  • ✕ Quote "I plan on Opstra, execute on broker. Slippage between the two costs me Rs 2-5K daily"
  • ✕ Pays for two tools when one good broker would suffice
  • ✕ No way to save and reorder her favorite strategy templates
🎓
Aman, 24
Aspiring trader, Delhi
2 years into trading. Mostly buys naked options after watching YouTube. Has lost Rs 80K. Wants to learn hedged strategies.
  • ✕ Doesn't know what an iron condor actually does until he watches a 30-min YouTube video
  • ✕ Education and execution are in different apps. Friction kills learning
  • ✕ Quote "If the broker just showed me what could happen before I clicked, I wouldn't have lost so much"
The Solution

Sahi Plays

A library of pre-built options strategies, each with one-tap multi-leg execution, live payoff diagrams, and recognized hedged margin.

1

Pick a Play

Browse strategies grouped by market view (bullish / neutral / bearish) and risk profile. Each card shows the payoff curve at a glance.

2

Choose Strikes

System suggests strikes based on current IV, days-to-expiry, and your view. Customize legs or accept the smart default.

3

See the Math

Live payoff diagram, max profit, max loss, breakeven points, hedged margin, and net premium. All in one view, before you click.

4

One-Tap Fire

All legs fire as a basket order through Sahi's exchange routing. Atomic fill or atomic cancel. No partial leg risk.

Product Screens

How it looks in the app

Three key screens that form the Plays user flow.

sahi.🔍
NIFTY 50 23,847+82 (0.34%)
🎯 Plays for you
NEUTRAL
Iron Condor
Nifty 23800-23900 / 23200-23100 · 4 legs
Max profit Rs 1,840 · Max loss Rs 3,160
BULLISH
Bull Call Spread
Nifty 23800 CE buy / 24000 CE sell
Max profit Rs 6,200 · Max loss Rs 3,800
BEARISH
Bear Put Spread
Nifty 23800 PE buy / 23600 PE sell
Max profit Rs 5,900 · Max loss Rs 4,100
NEUTRAL
Short Strangle
Nifty 24200 CE / 23400 PE sold
Max profit Rs 8,200 · Margin Rs 1.2L
Plays Library
←Iron Condor⚙
Nifty Spot 23,847+82
Payoff at expiry
23200 23800
Max Profit
+1,840
Max Loss
-3,160
Breakeven
23,237 / 23,837
Margin
Rs 28,400
Legs (1 lot)
SELL 23800 CERs 142
BUY 23900 CERs 76
SELL 23200 PERs 88
BUY 23100 PERs 52
Strategy Detail
←Order Status
All 4 legs filled in 0.8s
Iron Condor · Nifty Apr 24
✓ SELL 23800 CE142.05
✓ BUY 23900 CE76.20
✓ SELL 23200 PE88.10
✓ BUY 23100 PE52.05
Net credit
+Rs 1,840
Margin used
Rs 28.4K
Slippage
Rs 30
vs manual
Rs 1.2K saved
Save as template
My weekly IC + Save new
P&L will track live. Auto-square at 50% profit or 25% loss available.
Confirmation + Save
Feature Breakdown

What makes Plays different

Six capabilities that separate this from a glorified order ticket.

⚡

Atomic Basket Execution

All legs fire in a single batch. Either all fill or none do. No half-built spreads, no naked exposure if your last leg slips.

📊

Live Payoff Diagram

See max profit, max loss, breakevens before you click. The math is right there on the screen, computed off live option chain prices.

🛡

Hedged Margin Auto-Recognition

App computes correct hedged margin before order. No more parking Rs 1.4L for a Rs 28K spread because the broker can't see the structure.

💾

Saved Templates

Save your favorite strategy as a template. Reorder with one tap on a different expiry or underlying. Cuts setup from minutes to seconds.

🎯

Auto-Square Rules

Set profit/loss exits at strategy entry. App squares all legs together when target hit. No emotion, no missed exits.

📖

Strategy Education Inline

Each Play has a 30-second explainer. "Iron Condor profits if Nifty stays between X and Y. You lose at the wings." Education embedded in the moment of decision.

Success Metrics

How I'd measure if this is working

Honest signals to watch in the first 8 weeks of an MVP.

Multi-leg orders / day
Track it
Today most retail orders are single-leg. If 10-15% of active F&O orders become multi-leg via Plays, that's a structural win.
Avg legs per Plays order
3+
If users average 3+ legs per Plays click, they're using strategies, not just two-legged spreads. Higher = better engagement.
Slippage savings
Quality signal
Compare avg slippage on Plays vs manual multi-leg. If basket fills are tighter, the product is genuinely better.
Template reuse rate
Watch it
Saved-template re-fire rate at 30 days. High = sticky. This is the moat metric.
🎯
North Star

Plays orders as % of total F&O orders. If even 8-10% of Sahi F&O orders flow through Plays in 6 months, brokerage per active user climbs (each Play = 2-4 legs), retention improves (templates create switching costs), and Sahi's pitch becomes "the only Indian broker that gets options right."

Roadmap

Phased rollout

Ship the wedge fast. Layer intelligence after MVP shows it works.

Phase 1 / 4 Weeks

Core Plays MVP

  • 5 strategies (IC, Strangle, Bull/Bear Spread, Straddle)
  • Atomic basket order execution
  • Static payoff diagrams
  • Hedged margin recognition
  • Closed beta with 200 active F&O traders
Phase 2 / 8 Weeks

Smart Defaults

  • IV-aware strike suggestions
  • Saved templates
  • Live P&L tracking on open Plays
  • Auto-square rules (profit / loss targets)
  • Open to all Sahi users
Phase 3 / 12 Weeks

Personalization

  • Plays for stocks (not just indices)
  • Backtesting on each Play
  • Strategy education / explainers
  • Personalized Plays feed based on history
  • Banknifty + FinNifty support
Phase 4 / 16 Weeks

Platform Play

  • Custom strategy builder
  • Community shared Plays (with risk gates)
  • Plays + GTT (good-till-triggered)
  • API access for power users
Risks & Mitigations

What could go wrong

Honest assessment. Brokerage tech is unforgiving.

RiskSeverityMitigation
Partial fill on basket order leaves user with naked exposureHighAtomic execution: if all 4 legs can't fill within slippage band, cancel everything. Show the user a clear "couldn't fill, no positions opened" state.
SEBI tightening on F&O reduces retail participation overallHighPlays explicitly shows max-loss before entry. This aligns with SEBI's investor-protection mandate. Position the product as part of the solution, not the problem.
Sensibull / Opstra clones the feature on top of every brokerMediumNative execution beats third-party planning. Save the round-trip slippage that costs Priya Rs 2-5K daily. Build template library + execution as integrated whole.
Low adoption if traders don't trust automationMediumPhase 1 ships only to power users in beta. Surface real fill prices, slippage stats. Trust is earned by being transparent about every leg.
Margin calculation bugs could trigger compliance issuesLowUse exchange's own SPAN+ELM for hedged margin computation. Don't reimplement; integrate. Same source of truth as exchange clearing.
Strategic Case

Plays is a wedge into serious traders

Why this is more than a feature.

Defensibility via Templates

Saved templates are the moat. Once a trader has 20 of their favorite Plays saved, switching brokers means rebuilding her playbook. Highest switching cost in retail finance.

Brokerage Multiplier

Every Play is 2-4 legs. Same user, same trade decision, 2-4x the brokerage. Pure margin expansion on existing AUC, no acquisition cost.

Regulatory Tailwind

SEBI is going to keep pressuring brokers. Plays makes max-loss explicit before entry. This is the kind of feature SEBI wants to see, not punish.

Education = Acquisition

Every Play card is a 30-second lesson. Sahi becomes the place beginners learn to trade properly. Aman, who lost Rs 80K, is the next 5 lakh active F&O accounts.

Let's build this.

I'd love to bring this kind of thinking to the Sahi product team.

Get in Touch