Unfamiliar market runs for 60 minutes in your Main. Its future is hidden. Check the planned moves and settings below. Start when ready, then press Play. Watch the index, option premium and IV as time passes. Pause before choosing a trade and review your orders afterwards.
- Evidence
- Risk
Learning objective
Watch the market change direction and choose a strategy from what you see.
What is fixed
These stay the same every time you start:
- Indices: NIFTY and BANKNIFTY
- Starting levels: NIFTY 24,000, BANKNIFTY 52,000
- How the market moves: Random mixture of regimes
- Starting implied volatility: 16% a year
- Bid–ask spread multiplier: 1×
- Open interest at the start, at-the-money contract of the nearest expiry: 50,000
- Starts on 5 January 2026. Runs for 60 minutes.
- NIFTY: weekly and monthly options, monthly futures
- BANKNIFTY: monthly and quarterly options, monthly futures
BANKNIFTY options here are monthly and quarterly, as listed on the exchange. There is no weekly BANKNIFTY contract.
What changes each time
These are new every time you start. The name never tells you which way the market will go:
- The minute-by-minute spot path within the chosen regime.
- Realised noise around the implied-volatility level, term structure and skew.
- The trades, the depth of the order book and the open interest.
Is the future known?
No. No. Events stay hidden until they happen.
Compatible lanes
This scenario starts in the Main. Replays always run under a Comparison name.
Before you start
Look at these parts of Market X-Ray before starting this market.
In Market X-Ray
Review question
Which observations were actually available at the moment you acted, and how did each leg, its fills and its costs change the outcome?
What would need a different assumption rather than a different strategy?
