Options Basics (Introduction to Options Trading)
📌 1. Options Kya Hota Hai?
✔ Options ek derivative contract hai jo aapko ek fixed price par
stock ya index buy ya sell karne ka right deta hai, par obligation
nahi.
✔ Do tareeke ke options hote hain: Call Option & Put Option.
📌 2. Call Option Kya Hai?
✔ Call option ka buyer expect karta hai ki price badega.
✔ Call option ka seller expect karta hai ki price nahi badega ya
girega.
📌 3. Put Option Kya Hai?
✔ Put option ka buyer expect karta hai ki price girega.
✔ Put option ka seller expect karta hai ki price nahi girega ya
badega.
📌 4. Strike Price Kya Hota Hai?
✔ Strike price wo pre-decided price hota hai jisme aap future me
stock ya index buy ya sell kar sakte hain.
📌 5. Option Premium Kya Hai?
✔ Premium wo amount hota hai jo buyer seller ko advance me
pay karta hai option contract lene ke liye.
📌 6. Expiry Date Kya Hoti Hai?
✔ Har option ka expiry date hota hai jisme ye expire ho jata hai
(Monthly ya Weekly Expiry).
📌 7. Option Chain Kya Hota Hai?
✔ Option chain ek data table hota hai jo har strike price par call
aur put options ka pricing dikhata hai.
Options Expiry & Settlement
📌 1. ITM, ATM, OTM Options Kya Hote Hain?
✔ ITM (In The Money) – Jo option profit me expire hote hain.
✔ ATM (At The Money) – Jo same strike price par expire hote hain.
✔ OTM (Out of The Money) – Jo zero par expire hote hain.
📌 2. Expiry Par Settlement Kaise Hota Hai?
✔ Index options cash-settled hote hain.
✔ Stock options physical settlement hote hain.
Options Strategies (Best Profitable Strategies)
📌 1. Covered Call – Low-Risk Strategy
✔ Jab aapke paas stock hai aur aap extra income kamaana chahte hain, toh aap call option sell
kar sakte hain.
📌 2. Iron Condor – Range-Bound Market Ke Liye
✔ Jab market zyada move nahi karega, toh hum Iron Condor strategy use karte hain, jisme
Call & Put sell karte hain.
📌 3. Straddle & Strangle – High Volatility Ke Liye
✔ Straddle & Strangle tab use hota hai jab market me bada movement expected hota hai
(budget ya results ke time).
📌 4. Bull Call Spread & Bear Put Spread
✔ Bull Call Spread – Jab market upar jaane wala ho.
✔ Bear Put Spread – Jab market neeche girne wala ho.
Options Greeks (Understanding Price Movements)
📌 1. Delta (Δ) – Price Sensitivity
✔ Delta batata hai ki agar underlying stock ka price ₹1 badhta ya
girta hai, toh option premium kitna change hoga.
✔ Call Option ka Delta Positive hota hai.
✔ Put Option ka Delta Negative hota hai.
📌 2. Theta (Θ) – Time Decay Effect
✔ Theta batata hai ki time ke saath option premium kaise girta
hai.
✔ Expiry ke paas aane par Theta ka impact zyada hota hai.
📌 3. Vega (ν) – Volatility Impact
✔ Vega option price par volatility ka effect batata hai.
✔ Jab market me uncertainty badhti hai, toh Vega zyada hota hai.
📌 4. Gamma (Γ) – Delta Ka Change
✔ Gamma batata hai ki delta kis speed se change hoga.
✔ Gamma zyada hone ka matlab price movement unpredictable
ho sakta hai.