Volatility compresses runs for 2 hours in your Guided. Its future is objective known, path 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.
- Implied volatility
- Premium
Learning objective
Separate a spot move from falling IV. No strategy is picked as the winner in advance.
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 2 hours.
- At minute 30, over 20 min: Implied-volatility change, -4 IV percentage points, on both indices.
- 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.
- Exact timing inside each scheduled event's window.
Is the future known?
Yes. Partly. The title and objective reveal the kind of market you are in, though not its direction or timing. Results therefore stay out of Main.
Scheduled events
- At minute 30, over 20 min: Implied-volatility change, -4 IV percentage points, on both indices.
Compatible lanes
This scenario starts in the Guided. Replays always run under a Comparison name.
Guided scenarios reveal something about the market in their title, so they never run in Main.
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?