# EliteAlgo

> EliteAlgo (Excellent Securities Limited) is an algorithmic trading company in India, operating since 2006. Founded by Rajeev Gupta (MBA Finance, 20+ years experience), EliteAlgo delivers fully automated, rule-based trading strategies for NIFTY, Bank Nifty, SENSEX, and global markets — with pre-defined risk limits and zero human emotion in execution. EliteAlgo provides analytical software, not investment advice.

## Key Pages

- [Homepage](https://elitealgo.in/): Overview, trust signals, and algo trading services
- [Services](https://elitealgo.in/services/): Four core services — Proprietary Trading, Algo Trading, Trade Execution, Quantitative Research
- [Managed Algo Trading Service](https://elitealgo.in/managed-algo-trading-service/): Done-for-you algo trading for NIFTY and Sensex option sellers — EliteAlgo researches, backtests and executes systematic strategies on the client's own account, with the client retaining full custody of capital
- [About Us](https://elitealgo.in/about-us/): Company history, mission, team, and trading philosophy
- [FAQ](https://elitealgo.in/faq/): Answers on algo trading basics, capital, risk, and SEBI regulations
- [Blog](https://elitealgo.in/blog/): Algo trading guides for Indian markets — NIFTY, SENSEX, option selling, SEBI regulations
- [Careers](https://elitealgo.in/career/): No open positions at the moment — EliteAlgo is not hiring and is not accepting applications
- [Contact Us](https://elitealgo.in/contact-us/): Office address, business hours, contact form
- [Full content for LLMs](https://elitealgo.in/llms-full.txt): Extended machine-readable content

## Blog (Educational Resources)

Newest first. Dates are the last substantive update.

- [Black-Scholes Calculator — What It Gets Right and Wrong](https://elitealgo.in/black-scholes-calculator-nifty-weekly-options/) — 2026-10-23: A Black-Scholes price tracks the live NIFTY option market closely for most of a session — until the final 30-60 minutes, when constant-volatility and continuous-time assumptions visibly strain.
- [Iron Condor vs Naked Strangle — Why We Trade One and Not the Other](https://elitealgo.in/iron-condor-vs-naked-strangle-why-we-trade-one-not-both/) — 2026-10-23: An iron condor is a short strangle with two insurance legs added. The wings cap your loss and cut margin — but they cost 15-20% of your premium on every trade.
- [The STT Rule Most Option Sellers Still Haven't Priced Into Their Numbers](https://elitealgo.in/stt-on-options-what-sellers-get-wrong/) — 2026-10-22: STT on options is two separate charges, not one — small on the sell side, far larger if a leg is exercised ITM. The worked rupee comparison most cost models skip.
- [When and How We Actually Hedge a Naked Strangle](https://elitealgo.in/when-and-how-we-actually-hedge-a-naked-strangle/) — 2026-10-22: The two hedge tools worth the cost on a short strangle — a far-OTM wing and a futures delta hedge — their real cost, and why cutting lot count usually beats both.
- [NSE Margin Calculator vs Broker Margin: Why They Differ](https://elitealgo.in/nse-margin-calculator-vs-broker-margin/) — 2026-10-21: We ran the same NIFTY strangle through NSE's margin calculator and a broker's live terminal — the gap ran 18%, and here's why your broker's number is the one that matters.
- [How SPAN + Exposure Margin Is Actually Calculated for a Naked NIFTY Strangle](https://elitealgo.in/span-exposure-margin-nifty-strangle/) — 2026-10-21: What SPAN margin and exposure margin each compute for a NIFTY strangle, why the blocked figure moves intraday, and the buffer we carry for peak margin risk.
- [Short Strangle Explained: The Structure, the Payoff, and Where the Risk Actually Lives](https://elitealgo.in/short-strangle-explained/) — 2026-10-21: What a strangle means, the two legs that define it, both break-evens, where the risk actually sits, and how it behaves into expiry. Reference, not advice.
- [What an Option Chain Is, and How to Read One](https://elitealgo.in/what-is-an-option-chain/) — 2026-10-21: What an option chain is, how the screen is laid out, what every column means including open interest and IV, and how to read a single row end to end.
- [Python for Algo Trading in India: What You Actually Need to Build One](https://elitealgo.in/python-for-algo-trading-india/) — 2026-10-21: What a Python algo trading stack for Indian index options actually contains — data, signal, order routing, risk, logging — and where the work is really hidden.
- [Algo Trading With Your Broker's API: Zerodha, Dhan, Upstox and Groww](https://elitealgo.in/algo-trading-broker-api-india/) — 2026-10-21: What each Indian broker's trading API publicly documents — endpoints, auth model, token validity and rate limits — and what to check before you build on one.
- [Long Straddle vs Long Strangle: The Buying Side, and Why We Sell Instead](https://elitealgo.in/long-straddle-vs-long-strangle/) — 2026-10-21: The long straddle and long strangle derived properly — what you pay, the break-evens, the three ways to be right and still lose, and why this desk sells instead.
- [Option Selling Strategies: Every Structure, and When Each One Applies](https://elitealgo.in/option-selling-strategies-explained/) — 2026-10-20: The catalogue page. Three families — naked, defined-risk credit, asset-backed — eight structures, what each one trades away, and a link out to the full page on each. Deliberately non-prescriptive: no "start here", no strike picks.
- [The Short Straddle: Structure, Payoff, and Where the Risk Actually Lives](https://elitealgo.in/short-straddle-explained/) — 2026-10-20: The straddle reference. Payoff and break-evens derived once, why maximum profit effectively never happens, why the risk is gamma rather than theta, and how the position behaves through the three phases into expiry.
- [Option Greeks: What Delta, Gamma, Theta and Vega Actually Measure](https://elitealgo.in/option-greeks-explained/) — 2026-10-20: The structural Greeks reference, expiry-agnostic. What each Greek measures, what moves it, how to read it on an option chain, and a seller's exposure to each. Gamma gets the deepest treatment.
- [Backtesting a Trading Strategy: The Full Method, Start to Finish](https://elitealgo.in/how-to-backtest-an-option-selling-strategy/) — 2026-10-20: The method, not the platform. Seven steps from writing rules to paper trading, data granularity, the honest cost build-up, the India-specific constraints, and what a backtest can never tell you.
- [NSE and NIFTY Historical Options Data: What Exists, and How to Check It](https://elitealgo.in/nse-historical-options-data/) — 2026-10-20: What an options dataset actually consists of, which granularity answers which question, where the official sources are, six ways a dataset is silently wrong, and how to sanity-check one. A guide, not a data offering.
- [How Options Trading Income Is Taxed in India](https://elitealgo.in/how-options-trading-is-taxed-in-india/) — 2026-10-20: F&O profit is non-speculative business income, not capital gains, and that one classification drives the turnover test, the deductions, the loss rules, advance tax and the ITR form. Rates are deliberately not printed — look up the notification in force.
- [How to Sell Options, Step by Step](https://elitealgo.in/how-to-sell-options-step-by-step/) — 2026-10-20: What actually happens when you write an option, in five stages: enabling the segment, margin being blocked, the order, daily mark-to-market, and exit or expiry. With one worked example end to end.
- [Option Buying vs Option Selling, Settled With Arithmetic](https://elitealgo.in/option-buying-vs-option-selling/) — 2026-10-20: A high win rate is not an edge, and that is the whole argument. Why selling needs more money, what our own record shows, and how to tell which side you belong on.
- [Hedging an Option-Selling Position: What It Buys and What It Costs](https://elitealgo.in/hedging-an-option-selling-position/) — 2026-10-20: Four ways to hedge a short option, compared in one table — and the honest part: our own testing of them came back a negative, and no hedge removes gamma near expiry.
- [Covered Calls and Cash-Secured Puts, Explained Honestly](https://elitealgo.in/covered-calls-and-cash-secured-puts-explained/) — 2026-10-20: Both trades are the same trade wearing different clothes. What selling a put really obligates you to, where each one goes wrong, and why cost decides more of the outcome than the strategy does.
- [Butterflies and Iron Butterflies, Read From the Seller's Side](https://elitealgo.in/butterfly-and-iron-butterfly-for-option-sellers/) — 2026-10-20: Three different structures get called a "butterfly". The payoff arithmetic done once, why an iron butterfly is a short straddle with the tail cut off, and the negative our own testing found.
- [Is Algorithmic Trading Profitable? Here Is What Our Own Record Measures](https://elitealgo.in/is-algorithmic-trading-profitable-our-own-data/) — 2026-10-20: The question is usually answered with a screenshot. We answer it with two samples — a 438-day signal-driven engine test and 163 logged expiry sessions — including the parts that lost money.
- [Credit Spreads: The Strangle's Defined-Risk Sibling, and What It Gives Up](https://elitealgo.in/credit-spreads-strangle-defined-risk-sibling/) — 2026-10-20: Converting one wing of a NIFTY strangle into a credit spread caps the tail. What that does to margin, what the cap actually costs in premium, and the risk it does not remove.
- [Vertical Spreads: When We Cap Risk Instead of Selling Naked](https://elitealgo.in/vertical-spreads-when-we-cap-risk-instead-of-selling-naked/) — 2026-10-20: The margin relief is real and so is the premium you give up. The side-by-side margin math, a strike-width trade-off table, and why gamma near expiry survives the spread.
- [Same Strike, Different Day, Different Premium](https://elitealgo.in/same-strike-different-day-different-price/) — 2026-10-19: Same strike, same days-to-expiry, same spot — why premium still differs week to week. Real session comparisons, pre-event IV run-up, rich-vs-cheap rule, FAQ.
- [Implied Volatility Isn't "Fear" — It's a Price the Market Already Paid](https://elitealgo.in/implied-volatility-explained/) — 2026-10-19: Implied volatility is backed out of an option's price, not forecast. Why every strike has its own IV, VIX vs a strike's IV, IV percentile, and IV crush.
- [How Option Premium Is Actually Priced (Strike by Strike)](https://elitealgo.in/how-option-premium-is-actually-priced-strike-by-strike/) — 2026-10-18: See exactly which inputs set option premium: time, IV, spot-strike distance. Worked NIFTY example, hour-over-hour breakdown, FAQ.
- [SEBI Closing Auction Session: Expiry Settlement Changes](https://elitealgo.in/sebi-closing-auction-session-expiry-settlement/) — 2026-10-16: SEBI's October 15 circular stops expiring index contracts at 3:30 pm and settles them on a 3:00-3:30 pm constituent VWAP instead of the closing print. Clause by clause, with both implementation dates.
- [Best Zerodha Streak Alternatives in India](https://elitealgo.in/best-zerodha-streak-alternatives-in-india/) — 2026-10-16: Streak caps you at five conditions, ties you to a single broker, and has no native multi-leg options support. Seven real alternatives, mapped against those three limits, not generic feature lists.
- [AlgoTest vs Quantiply for Expiry-Day Backtesting](https://elitealgo.in/algotest-vs-quantiply-for-expiry-day-backtesting/) — 2026-10-16: The only AlgoTest-vs-Quantiply comparison online is written by AlgoTest. Here's the independent read, narrowed to the one question expiry-day sellers actually care about: fill-timing accuracy.
- [Stoxxo vs Tradetron for Automated Option Selling](https://elitealgo.in/stoxxo-vs-tradetron-for-automated-option-selling/) — 2026-10-15: No page on the market compares these two on the axis an option seller actually cares about: combined trailing SL across multi-leg positions, not per-leg. Here's what we found running both.
- [Sensibull Alternatives for Option Sellers: 7 Tools Compared](https://elitealgo.in/sensibull-alternatives-for-option-sellers/) — 2026-10-15: Most Sensibull alternative roundups are written for any options trader. This one isn't — 7 tools picked for a seller's peak-margin, multi-leg backtesting, and execution gaps, compared and ranked.
- [Option Greeks on Expiry Day: Theta Stops, Gamma Starts](https://elitealgo.in/option-greeks-on-expiry-day/) — 2026-10-14: Theta looks like the whole story until the gamma crossover hits, usually from 13:30 IST. Our own delta walk, stop-loss comparison, and the three rules that fall out of it.
- [Option Chain Analysis for Option Sellers: 6 Key Columns](https://elitealgo.in/nse-option-chain-analysis-for-sellers/) — 2026-10-14: Most columns in the NIFTY option chain don't matter to a seller. The six that do, the reading order that works, and the spread math that changes a strike call.
- [Max Pain on NIFTY: Testing the Pin Everyone Quotes](https://elitealgo.in/max-pain-on-nifty-testing-the-pin-everyone-quotes/) — 2026-10-12: Every dashboard shows a max-pain number with an arrow implying price is headed there. We hand-calculated it, tracked it intraday, and measured 40 expiries to see how often the close actually lands near it.
- [NIFTY Lot Size Is a Risk Number, Not a Trivia Answer](https://elitealgo.in/nifty-lot-size-position-sizing/) — 2026-10-10: Every page-one result gives the same lookup-table number. The current NIFTY, BANKNIFTY, FINNIFTY and SENSEX lot sizes, and the rupees-per-point, margin-vs-risk and VIX-based sizing math the lookup tables skip.
- [NIFTY OI Data Without the Folklore](https://elitealgo.in/nifty-oi-data-without-the-folklore/) — 2026-10-08: The four-box buildup table everyone copies can't show who initiated a trade. What NIFTY open interest actually measures, and the liquidity and crowding reads that hold up for sellers.
- [The NIFTY Expiry-Day Premium Clock, Hour by Hour](https://elitealgo.in/nifty-expiry-day-premium-clock/) — 2026-10-06: NIFTY expiry day isn't one straight decay line. See the hour-by-hour premium clock, pin risk, and a paper-trade-first session template from our own desk.
- [The ATM Straddle Chart Is a Decay Clock](https://elitealgo.in/straddle-chart-how-to-read-it/) — 2026-10-04: The ATM straddle chart falls, jumps and sits flat for reasons most traders never learn. The four shapes, the expiry-day clock, and what each means for a seller.
- [NIFTY PCR: Why the 0.7-and-1.3 Rulebook Breaks on Expiry Day](https://elitealgo.in/nifty-pcr-why-the-0-7-and-1-3-rulebook-breaks-on-expiry-day/) — 2026-10-02: The 0.7/1.3 PCR bands were never calibrated on NIFTY. Why the ratio's arithmetic breaks specifically on expiry day, and how our desk actually uses it as a gate.
- [Paper Trading an Option-Selling Algo: Four Things It Proves, Three It Hides](https://elitealgo.in/paper-trading-option-selling-algo/) — 2026-09-30: What a clean paper run genuinely proves about an option-selling algo, what it structurally hides on fills, slippage, and margin, and the checklist before risking live capital.
- [What India VIX Actually Does to a Short Strangle's Premium Budget](https://elitealgo.in/india-vix-short-strangle-premium-budget/) — 2026-09-28: Convert India VIX into an expected NIFTY move, a premium budget and a sane strike distance — plus the VIX-band decision table we read before the open.
- [Best Options Backtesting Software in India 2026](https://elitealgo.in/best-options-backtesting-software-india/) — 2026-10-16: 11 options backtesting platforms compared on price, data depth and leg limits. Every figure read from the vendor's own pricing page in October 2026.
- [Automated Option Selling Strategy Using Zerodha Kite API: A Practitioner's Guide](https://elitealgo.in/automated-option-selling-strategy-zerodha-kite-api/) — 2026-08-27: How automated option selling actually works over a broker trading API, what it can and cannot do, and a checklist before connecting live capital.
- [Sensex Weekly Expiry Option Selling Strategy: A Practitioner's Framework](https://elitealgo.in/sensex-weekly-expiry-option-selling-strategy/) — 2026-08-25: How Sensex weekly expiry option selling actually works: strike selection, IV behaviour, position sizing, and the risk rules that matter.
- [Short Straddle vs Short Strangle for NIFTY Weekly Expiry](https://elitealgo.in/short-straddle-vs-short-strangle-nifty/) — 2026-08-23: A practitioner's comparison of short straddles and short strangles for NIFTY weekly expiry — payoff mechanics, Greeks, and risk rules.
- [Tradetron vs AlgoTest vs QuantMan: Which Wins for Option Sellers in 2026?](https://elitealgo.in/tradetron-vs-algotest-vs-quantman/) — 2026-08-19: An option-seller's comparison of Tradetron, AlgoTest, and QuantMan — backtesting depth, multi-leg execution, broker support, and where each platform falls short for NIFTY/SENSEX expiry-day strategies.
- [5 Algobi Alternatives for Serious Option Sellers (Ranked by Backtesting Depth, Not Marketing)](https://elitealgo.in/algobi-alternatives-for-option-sellers/) — 2026-08-19: Five Algobi alternatives for Indian option sellers, ranked by real backtesting depth for multi-leg NIFTY/SENSEX strategies — not follower counts or marketing claims.
- [AlgoTest + Zerodha: What It Actually Does (and Doesn't) for Multi-Leg Option Selling](https://elitealgo.in/algotest-zerodha-integration/) — 2026-08-19: A practitioner's breakdown of what connecting AlgoTest to a broker account actually does and doesn't do for multi-leg NIFTY/BANKNIFTY option-selling strategies.
- [Best Algo Trading Platform for Option Sellers in India (2026 Guide)](https://elitealgo.in/best-algo-trading-platform-option-sellers-india/) — 2026-08-10: Backtesting depth, expiry-day execution, margin handling, and pricing — how to pick the right algo trading platform for NIFTY/SENSEX option selling.
- [Option Selling Strategy for Consistent Monthly Income: A NIFTY Expiry-Day Framework](https://elitealgo.in/option-selling-strategy-monthly-income-nifty/) — 2026-08-10: A practitioner's guide to building an option selling strategy for consistent monthly income on NIFTY — expiry-day mechanics, risk management, and backtesting.
- [Nifty Option Selling Strategy for Beginners: A Step-by-Step Guide](https://elitealgo.in/nifty-option-selling-strategy-beginners/) — 2026-08-10: How Nifty option selling works, risk management, strike selection, and how algo trading removes emotional errors — a SEBI-aware beginner guide.
- [How EliteAlgo Approaches Systematic Trading Through Algorithmic Execution](https://elitealgo.in/elitealgo-algorithmic-trading/) — 2025-11-24: Envision the stock market opening and the screen revealing opportunities but you still hesitate. Discover how automation and data-driven strategies change the game.
- [SEBI Algo Trading Regulations in India 2026](https://elitealgo.in/sebi-algo-trading-regulations/) — 2026-05-31: A complete guide to SEBI regulations for algorithmic trading in India — exchange approval rules, compliance requirements, and what traders need to know before deploying an algorithm.
- [Nifty & Sensex Algo Trading Strategies 2026](https://elitealgo.in/nifty-sensex-algo-trading/) — 2026-05-31: Automate Nifty and Sensex trading with rule-based algo strategies. Expiry-day trading for NSE/BSE F&O with pre-defined risk limits.
- [Algo Trading in India — The Complete 2026 Guide](https://elitealgo.in/guide-to-algo-trading-in-india/) — 2026-10-16: Algo trading in India, explained properly: the live SEBI retail framework, the four routes in, real costs, margins, taxes and a 10-step start plan.
- [Best Algo Trading Companies in Delhi](https://elitealgo.in/best-algo-trading-companies-in-delhi-india/) — 2026-10-14: Algo trading is a process in which trades are placed using complex algorithms. Here are the top firms in Delhi worth knowing.
- [Best Free Algo Trading Software in India 2026](https://elitealgo.in/best-free-algo-trading-software-in-india/) — 2026-10-16: Every free tier re-verified in October 2026 — what you can actually do at zero cost on NSE and BSE, exactly where each cap stops, the platforms that only pretend to be free, and why SEBI's static-IP rule now costs more than the software.
- [Algo Trading Strategies That Actually Work](https://elitealgo.in/algo-trading-strategies/) — 2026-10-14: Algo trading replaces hesitation with rules. A breakdown of the strategy families we run, how each is backtested, and where each one fails.
- [Disadvantages of Algo Trading You Should Know](https://elitealgo.in/disadvantages-of-algo-trading/) — 2026-10-14: By now you might know what algo trading is and its advantages. But knowing the risks and limitations is equally important before you invest.
- [10 Best Algo Trading Software in India 2026](https://elitealgo.in/best-algo-trading-software-in-india/) — 2026-09-29: Ten platforms worth shortlisting, with every price re-verified in September 2026 — and the five entries we removed, including one product that no longer exists.
- [EliteAlgo vs Top Algo Trading Firms in India 2026](https://elitealgo.in/best-algo-trading-firms-india/): EliteAlgo compared with AlgoBulls, Tradetron, Symphony Fintech and Streak on model, strategy types, minimum capital, technology and who each one suits.
- [Best AlgoTest Alternatives in India 2026](https://elitealgo.in/best-algotest-alternatives-in-india/): AlgoTest alternatives re-verified October 2026 — Tradetron, Streak, INDfolio, Quantiply, Quantman, AlgoMojo, TradingView and more, compared on features, pricing model and integrations.

## Optional

- [llms-full.txt](https://elitealgo.in/llms-full.txt): Full machine-readable content for LLMs — company overview, services, FAQ, pricing, contact
- [pricing.md](https://elitealgo.in/pricing.md): Machine-readable pricing and capital requirements for AI agents and buying-agent evaluation

## Contact

- Email: info@elitealgo.in
- Address: 203, Gupta Arcade, Shrestha Vihar Market, New Delhi 110092, India
- Hours: Monday–Saturday, 9am–6pm IST