A complete walkthrough of options trading, adapted for Nifty, BankNifty, and Indian commodities. From beginner strategies to advanced position management — with real math, working payoff calculator, and honest risk disclosure.
The essential strategies every options trader needs. Start here if you're new.
Calls, puts, strike price, premium, expiry — the vocabulary you need before anything else makes sense.
Nifty Chapter 2Earn income on the stocks you already own by selling calls against them. The classic income strategy.
Reliance Chapter 3Get paid to wait for stocks you want to buy at a lower price. A quiet way to generate returns on cash.
TCS Chapter 4Bullish? A long call gives you unlimited upside with limited risk. When it works, when it doesn’t.
Nifty Chapter 5Insurance for your portfolio, or a bearish bet without shorting. How and when to buy puts.
BankNifty Chapter 6Bullish with a defined budget and defined risk. The starter spread every options trader learns first.
Nifty Chapter 7The mirror image of the bull call spread. Profit from a decline with capped risk.
Nifty Chapter 8Expecting a big move but unsure of direction? Buy volatility. Perfect for event days.
BankNifty Chapter 9Sell volatility when you expect calm. High win rate — but the tails will bite. Read this before trying it.
Nifty weekly Chapter 10The short strangle’s safer sibling. Defined-risk premium selling — the workhorse of income traders.
Nifty Chapter 11Precision bet on a specific price point. Small cost, big potential payoff when you nail the level.
Nifty Chapter 12Trade time itself. Buy a longer-dated option, sell a shorter one — the theta-decay strategy.
Nifty monthly Chapter 13Delta, gamma, theta, vega — what they actually mean for your P&L, in plain language.
Concepts Chapter 14How much to trade, when to stop, how to survive the drawdowns everyone eventually faces.
Practical Chapter 15Zerodha, Upstox, Angel — how to place trades, margin requirements, brokerage math.
IndiaRatio spreads, diagonals, delta hedging, volatility trading, position management. Ready when you've mastered the fundamentals.
Every position has a twin. Understanding synthetics is the difference between amateur and pro.
Concepts Chapter 17Sell more than you buy. Asymmetric bets with big profit zones — and dangerous tails.
Directional Chapter 18Buy more than you sell. Cheap volatility bets that pay off huge when you're right.
Event days Chapter 19Calendar meets vertical. The Poor Man's Covered Call and other capital-efficient income setups.
PMCC Chapter 20Five indices, five expiry days. Sensex Tuesday, Bankex Monday, Bank Nifty monthly-only. The India-specific calendar that shapes your P&L.
Sensex + Nifty Chapter 21India VIX, IV rank, mean reversion. Trade volatility itself — the professional edge.
India VIX Chapter 22IV isn't one number — it's a surface. Understanding the shape reveals hidden opportunities.
IV surface Chapter 23Convert directional bets to pure vol plays. What market makers do all day.
Advanced Chapter 24Extend, transform, or defend trades mid-flight. The adjustment recipes McMillan swears by.
Management Chapter 25Splits, bonuses, mergers change your contract mid-trade. Know what happens to strikes.
Stock options Chapter 26Expiry week is different. Physical delivery, pin risk, settlement — managing the last day.
Expiry week Chapter 27The strategy that made ₹10L and the one that lost ₹10L are often the same. Psychology is the difference.
Meta Chapter 28Beyond the 2% rule — Kelly criterion, volatility-scaling, portfolio Greeks limits.
Advanced sizing Chapter 29Turn discretionary ideas into rules-based systems. Backtesting, walk-forward, automation.
Systematic Chapter 3089% of Indian retail F&O traders lose money. Knowing when to stop is a legitimate strategy.
HonestThe payoff calculator draws profit & loss for any combination of options — with Indian lot sizes and rupee amounts.
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