The F&O Learner

Understand equity futures contracts — lot sizes, mark-to-market settlement, basis, and how futures prices relate to spot prices on the NSE F&O segment.

Learn how calls and puts work — intrinsic value, time value, the right vs obligation distinction, and the asymmetric risk profile that makes options unique.

Master Delta, Gamma, Theta, and Vega — the four sensitivities that determine how an option's price changes with the underlying, time, and volatility.

Understand SPAN margin, exposure margin, and peak margin rules — why margin requirements change and how to estimate the capital needed before taking a position.

Know what happens at weekly and monthly F&O expiry — settlement process, pin risk for options sellers, and the liquidity dynamics that create expiry-day volatility.

The most conservative options strategy — selling call options against stock you already own to generate income, with a clear explanation of the risk you take on.

How to hedge a long equity portfolio with index put options — calculating the number of contracts, the cost of protection, and when the math makes sense.

Trade volatility without a directional view — when to go long a straddle before budget/results, and the risk of time decay if the event fails to move the market.