Option Chain

What is an Option Chain?

A list which shows all available option contracts for a given security with their specific features is known as an option chain. The list shows all available calls and puts with their expiration, strike prices, volume, and pricing information for a given security within a given maturity period.

How to access the Option Chain of an Index?

On the dashboard, you will find Market Indices section which displays various indices. Right below every market index, you will find “Option Chain” which can be clicked to view the option chain of the given index.

How to access the Option Chain of Stocks

Go to the market watch and add any F&O symbol in the market watch. Click on the symbol to access detailed page like Bid/Ask, Day high/low etc. Same page in the bottom you can find link to access option chain

What are Option Greeks?

Option greeks are mathematical derivatives that give the relation of option price to various factors like price of underlying, implied volatility, time to maturity etc.

Why are Theta, Vega, Gamma common for Call and Put options in the option chain?

In the case of theta, vega, gamma, we make use of out of the money calls and out of the money puts to calculate a single number for each strike price as due to arbitrage, there can't be more than one value for each greek other than delta.

What does RED and Green Bar signify in the option chain?

The red and green bars indicate the OI for a particular strike price of calls and puts. The longer the green/red bar, the higher the OI.

Why are Option Greeks not plotted on Expiry day?

This is due to the way calculation is done by the data provider. They take the time to expiry as 0 on the day of expiry. Hence, the greek values are close to zero.

Can I Buy/Sell CE or PE options from Option Chain?

Yes, you can Buy sell PE or CE options from Option chain.
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12. Precautions for clients dealing in Options

Clients/investors dealing in options, are advised to avoid practices like:

a) Sharing of trading credentials – login id & passwords including OTP's.

b) Trading in leveraged products like options without proper understanding, which could lead to losses.

c) Writing/ selling options or trading in option strategies based on tips, without basic knowledge & understanding of the product and its risks.

d) Dealing in unsolicited tips through Whatsapp, Telegram, YouTube, Facebook, SMS, calls, etc.

e) Trading in “Options” based on recommendations from unauthorised/unregistered investment advisors and influencers.