Bullish
Long Call
Buy a call. You gain if NIFTY rises.
- Max profit
- Unlimited
- Max loss
- Premium paid
- Level
- Beginner
Ideal for A strong rise
Strategies
Every strategy's payoff and its result on a past week.
63 of 63 strategies
Single leg
One option. The simplest place to start.
- Bearish
Short Call
Sell a call. You gain if NIFTY falls.
- Max profit
- Premium received
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A steady fall
- Bearish
Long Put
Buy a put. You gain if NIFTY falls.
- Max profit
- Very large
- Max loss
- Premium paid
- Level
- Beginner
Ideal for A sharp fall
- Bullish
Short Put
Sell a put. You gain if NIFTY rises.
- Max profit
- Premium received
- Max loss
- Very large
- Level
- Advanced
Ideal for A steady rise
- Bullish
Cash-Secured Index Put
Sell a put. You gain if NIFTY rises.
- Max profit
- Premium received
- Max loss
- Very large
- Level
- Advanced
Ideal for A steady rise
Futures
A future moves point for point with the index.
- Bullish
Long Index Future
Buy a future. You gain if NIFTY rises.
- Max profit
- Unlimited
- Max loss
- Very large
- Level
- Advanced
Ideal for A strong rise
- Bearish
Short Index Future
Sell a future. You gain if NIFTY falls.
- Max profit
- Very large
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A sharp fall
- Neutral
Futures Calendar: Long Near / Short Next
Buy a future that ends sooner. Sell a future that ends later. The expiry result does not depend on NIFTY.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for No view on the index level
- Neutral
Futures Calendar: Short Near / Long Next
Sell a future that ends sooner. Buy a future that ends later. The expiry result does not depend on NIFTY.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for No view on the index level
Vertical spreads
Two strikes on one expiry. Both the gain and the loss have a cap.
- Bullish
Bull Call Debit Spread
Buy a lower call and sell a higher call. You gain if NIFTY rises.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Intermediate
Ideal for A steady rise
- Bearish
Bear Call Credit Spread
Sell a lower call and buy a higher call. You gain if NIFTY falls.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Intermediate
Ideal for A steady fall
- Bearish
Bear Put Debit Spread
Buy a higher put and sell a lower put. You gain if NIFTY falls.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Intermediate
Ideal for A steady fall
- Bullish
Bull Put Credit Spread
Sell a higher put and buy a lower put. You gain if NIFTY rises.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Intermediate
Ideal for A steady rise
Volatility
A call and a put together, for a move either way.
- Big move
Long Straddle
Buy a call and a put. Both options use the same strike. You gain if NIFTY makes a big move.
- Max profit
- Unlimited
- Max loss
- Premium paid
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Short Straddle
Sell a call and a put. Both options use the same strike. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A quiet market
- Big move
Long Strangle
Buy a lower put and a higher call. You gain if NIFTY makes a big move.
- Max profit
- Unlimited
- Max loss
- Premium paid
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Short Strangle
Sell a lower put and a higher call. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A quiet market
Ratio volatility
More lots on one side tilt the payoff that way.
- Big move
Long Strip
Buy a call and 2 puts. All the options use the same strike. You gain if NIFTY makes a big move.
- Max profit
- Unlimited
- Max loss
- Premium paid
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Short Strip
Sell a call and 2 puts. All the options use the same strike. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A quiet market
- Big move
Long Strap
Buy 2 calls and a put. All the options use the same strike. You gain if NIFTY makes a big move.
- Max profit
- Unlimited
- Max loss
- Premium paid
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Short Strap
Sell 2 calls and a put. All the options use the same strike. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A quiet market
Butterflies
Three strikes that make a peak or a dip in the middle.
- Neutral
Long Call Butterfly
Buy 2 outer calls and sell 2 middle calls. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A quiet market
- Big move
Short Call Butterfly
Sell 2 outer calls and buy 2 middle calls. You gain if NIFTY makes a big move.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A big move either way
- Neutral
Long Put Butterfly
Buy 2 outer puts and sell 2 middle puts. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A quiet market
- Big move
Short Put Butterfly
Sell 2 outer puts and buy 2 middle puts. You gain if NIFTY makes a big move.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A big move either way
Broken wing
A butterfly with one wing wider than the other.
- Neutral
Long Call Broken-Wing Butterfly
Buy 2 outer calls and sell 2 middle calls. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Limited
- Level
- Advanced
Ideal for A quiet market
- Big move
Short Call Broken-Wing Butterfly
Sell 2 outer calls and buy 2 middle calls. You gain if NIFTY makes a big move.
- Max profit
- Limited
- Max loss
- Limited
- Level
- Advanced
Ideal for A big move either way
- Neutral
Long Put Broken-Wing Butterfly
Buy 2 outer puts and sell 2 middle puts. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A quiet market
- Big move
Short Put Broken-Wing Butterfly
Sell 2 outer puts and buy 2 middle puts. You gain if NIFTY makes a big move.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A big move either way
Condors
Four strikes with a flat stretch in the middle.
- Neutral
Long Call Condor
Buy 2 outer calls and sell 2 inner calls. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A quiet market
- Big move
Short Call Condor
Sell 2 outer calls and buy 2 inner calls. You gain if NIFTY makes a big move.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A big move either way
- Neutral
Long Put Condor
Buy 2 outer puts and sell 2 inner puts. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A quiet market
- Big move
Short Put Condor
Sell 2 outer puts and buy 2 inner puts. You gain if NIFTY makes a big move.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A big move either way
Iron
Two puts and two calls in one basket.
- Neutral
Short Iron Condor (Credit)
Buy a lower put and a higher call. Sell a middle put and a middle call. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A quiet market
- Big move
Long Iron Condor (Reverse)
Sell a lower put and a higher call. Buy a middle put and a middle call. You gain if NIFTY makes a big move.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A big move either way
- Neutral
Short Iron Butterfly (Credit)
Buy a lower put and a higher call. Sell a middle put and a middle call. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A quiet market
- Big move
Long Iron Butterfly (Reverse)
Sell a lower put and a higher call. Buy a middle put and a middle call. You gain if NIFTY makes a big move.
- Max profit
- Limited
- Max loss
- Premium paid
- Level
- Advanced
Ideal for A big move either way
- Neutral
Asymmetric Iron Condor
Buy a lower put and a higher call. Sell a middle put and a middle call. You gain if NIFTY stays calm.
- Max profit
- Premium received
- Max loss
- Limited
- Level
- Advanced
Ideal for A quiet market
Ratio spreads
More options sold than bought, or the other way round.
- Neutral
Call Ratio Spread 1:2
Buy a lower call and sell 2 higher calls. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A quiet market
- Big move
Call Backspread 1:2
Sell a lower call and buy 2 higher calls. You gain if NIFTY makes a big move.
- Max profit
- Unlimited
- Max loss
- Limited
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Put Ratio Spread 1:2
Buy a higher put and sell 2 lower puts. You gain if NIFTY stays calm.
- Max profit
- Limited
- Max loss
- Very large
- Level
- Advanced
Ideal for A quiet market
- Big move
Put Backspread 1:2
Sell a higher put and buy 2 lower puts. You gain if NIFTY makes a big move.
- Max profit
- Very large
- Max loss
- Limited
- Level
- Intermediate
Ideal for A big move either way
Calendars
One strike and two expiry dates.
- Neutral
Long Call Calendar
Sell a call that ends sooner. Buy a call that ends later. Both options use the same strike. You gain if NIFTY stays calm.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A quiet market
- Big move
Short Call Calendar
Buy a call that ends sooner. Sell a call that ends later. Both options use the same strike. You gain if NIFTY makes a big move.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Long Put Calendar
Sell a put that ends sooner. Buy a put that ends later. Both options use the same strike. You gain if NIFTY stays calm.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A quiet market
- Big move
Short Put Calendar
Buy a put that ends sooner. Sell a put that ends later. Both options use the same strike. You gain if NIFTY makes a big move.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Double Calendar
Sell a lower put and a higher call that end sooner. Buy a lower put and a higher call that end later. You gain if NIFTY stays calm.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Advanced
Ideal for A quiet market
Diagonals
Different strikes and different expiry dates.
- Neutral
Long Call Diagonal
Sell a higher call that ends sooner. Buy a lower call that ends later. You gain if NIFTY stays calm.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A quiet market
- Big move
Short Call Diagonal
Buy a higher call that ends sooner. Sell a lower call that ends later. You gain if NIFTY makes a big move.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Long Put Diagonal
Sell a lower put that ends sooner. Buy a higher put that ends later. You gain if NIFTY stays calm.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A quiet market
- Big move
Short Put Diagonal
Buy a lower put that ends sooner. Sell a higher put that ends later. You gain if NIFTY makes a big move.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A big move either way
- Neutral
Double Diagonal
Sell a middle put and a middle call that end sooner. Buy a lower put and a higher call that end later. You gain if NIFTY stays calm.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Advanced
Ideal for A quiet market
Options like futures
Options that act like a future, or lock one in.
- Bullish
Synthetic Long Forward
Buy a call and sell a put. Both options use the same strike. You gain if NIFTY rises.
- Max profit
- Unlimited
- Max loss
- Very large
- Level
- Advanced
Ideal for A strong rise
- Bearish
Synthetic Short Forward
Sell a call and buy a put. Both options use the same strike. You gain if NIFTY falls.
- Max profit
- Very large
- Max loss
- Unlimited
- Level
- Advanced
Ideal for A sharp fall
- Neutral
Conversion with Future
Buy a future and a put. Sell a call. Both options use the same strike. The expiry result does not depend on NIFTY.
- Max profit
- Fixed
- Max loss
- Fixed
- Level
- Advanced
Ideal for No view on the index level
- Neutral
Reversal with Future
Sell a future and a put. Buy a call. Both options use the same strike. The expiry result does not depend on NIFTY.
- Max profit
- Fixed
- Max loss
- Fixed
- Level
- Advanced
Ideal for No view on the index level
Box
Four legs that fix the expiry result in advance.
- Neutral
Long Box Spread
Buy a lower call and a higher put. Sell a higher call and a lower put. The expiry result does not depend on NIFTY.
- Max profit
- Fixed
- Max loss
- Fixed
- Level
- Advanced
Ideal for No view on the index level
- Neutral
Short Box Spread
Sell a lower call and a higher put. Buy a higher call and a lower put. The expiry result does not depend on NIFTY.
- Max profit
- Fixed
- Max loss
- Fixed
- Level
- Advanced
Ideal for No view on the index level
Futures with options
A future with an option that covers one side.
- Bullish
Futures-Covered Call
Buy a future and sell a call. The option's strike is above today's level. You gain if NIFTY rises.
- Max profit
- Limited
- Max loss
- Very large
- Level
- Advanced
Ideal for A steady rise
- Bullish
Future with Protective Put
Buy a future and a put. The option's strike is below today's level. You gain if NIFTY rises.
- Max profit
- Unlimited
- Max loss
- Limited
- Level
- Intermediate
Ideal for A strong rise
- Bullish
Futures Collar
Buy a future and a lower put. Sell a higher call. You gain if NIFTY rises.
- Max profit
- Limited
- Max loss
- Limited
- Level
- Advanced
Ideal for A steady rise
- Bearish
Short Future with Protective Call
Sell a future and buy a call. The option's strike is above today's level. You gain if NIFTY falls.
- Max profit
- Very large
- Max loss
- Limited
- Level
- Intermediate
Ideal for A sharp fall
Cross index
Two indices in one basket.
- Bullish
NIFTY / BANKNIFTY Futures Pair · Unbalanced
Buy a NIFTY future and sell a BANKNIFTY future. You gain if NIFTY rises.
- Max profit
- Depends
- Max loss
- Depends
- Level
- Intermediate
Ideal for A steady rise