Intrinsic value: abhi ke abhi kitna bachta.
Doosre naam: intrinsic value, in-the-money amount, real value of an option.
Is page ke kuch hisse abhi English mein hain.
Formula
Call: max(Underlying level - Strike, 0). Put: max(Strike - Underlying level, 0).
Ise kaise padhein
Kisi bhi option ka daam 2 hisson mein banta hai: jo abhi maujood hai, aur jo abhi sirf sambhavna hai. Pehla intrinsic value hai, doosra time value.
Yeh baant isliye kaam ki hai kyunki dono alag cheezon se hilte hain. Intrinsic value spot ke saath chalti hai. Time value samay aur volatility anumaan ke saath ghatti badhti hai.
Intrinsic value option ke paas farsh ke sabse kareeb ki cheez hai. Ek baar option in the money ho jaye toh yeh hissa underlying ke saath ek-ke-badle-ek chalta hai. Aur expiry par premium ka sirf yahi hissa bachta hai.
Poore premium ke saamne intrinsic value rakh dena hi premium ko 2 mein baantne ka standard tareeka hai. Ek hissa saaf arithmetic hai — spot aur strike ka faasla. Baaki jo bacha, woh aage ke baare mein ek assumption hai, aur usi ko time value kehte hain.
Call ke liye intrinsic value underlying ka maujuda level minus strike hai. Put ke liye ulta — strike minus level. Agar yeh ginti negative aa jaye toh intrinsic value zero maani jaati hai.
Iski wajah seedhi hai: jis option ko use karne mein kuch bachta hi nahi, use koi use nahi karta. Isliye yeh number kabhi negative nahi hota, kam se kam zero par ruk jaata hai — aur yahi baat ise premium se alag banati hai, jo hamesha kuch na kuch hota hai.
Yeh kya nahi batata
Option kharidne par jo diya gaya tha, woh is number mein nahi hai. Isliye intrinsic value hone ka matlab yeh nahi ki sauda faayde mein hai.
Expiry ke din time value khatam ho jaati hai aur sirf intrinsic value bachti hai. Isi wajah se expiry ke paas aate aate option ka daam alag tarah se behave karta hai.
Aur intrinsic value ek snapshot hai, koi sthayi gun nahi. Jis option ke paas woh abhi hai, woh use us pal kho sakta hai jab underlying wapas strike ke paar chala jaye — aur is number mein aisa kuch nahi hai jo bataye ki woh paar hona kitna sambhav hai. Holder tabhi aage hai jab intrinsic value diye gaye premium se aage nikal jaye, aur woh ek alag aur aam taur par ooncha level hota hai.
Experiment mein dekho
Intrinsic value aur time value dekho
Market X-Ray mein ek input badlo aur dekho kya hota hai.
Market X-Ray: Expiry — Expiry par option mein kya bachta hai?
Jude hue concepts
Option premium kis cheez ka bana hota hai?
Premium mein intrinsic value aur time ya uncertainty se judi value hoti hai. Sasta dikhta premium kam risk nahi hota.
Lesson kholo