Options trading hindi mein samjho — call option, put option, premium, strike price, expiry. Beginners ke liye step-by-step complete guide.
Published by The Retail Trader · AUG 12, 2026 · Features
Options trading hindi mein samjho — call option, put option, premium, strike price, expiry. Beginners ke liye step-by-step complete guide.
Options ek derivative contract hai jisme aapko kisi stock/index ko ek pre-decided price pe kharidne ya bechne ka right (not obligation) milta hai — ek specific date (expiry) tak.
Simple example:
• Reliance current price: ₹2,850
• Aapko lagta hai Reliance ₹2,900 pe jayega next week
• Aap ₹2,900 strike ka Call Option kharidte ho ₹30 premium pe
• Agar Reliance ₹2,950 ho gaya → aapka profit = ₹50 - ₹30 = ₹20 per share
• Agar Reliance ₹2,850 pe raha → aapka loss = ₹30 (premium only)
Key terms:
• Call Option: Buy karne ka right (bullish)
• Put Option: Bechne ka right (bearish)
• Strike Price: Pre-decided price
• Premium: Option ki price (jo aap pay karte ho)
• Expiry: Date jab contract expire hota hai (Thursday for NSE)
• Lot Size: Ek contract mein kitne shares (e.g., Nifty 50 = 50 shares/lot)
Call Option (Bullish View):
• Aap expect karte ho price upar jaayegi
• Aap premium pay karke "right to buy" kharidte ho
• Profit: Strike price + premium ke above jitna price jaayega
• Loss: Limited to premium paid
• Example: Nifty at 24,600. Buy 24,700 CE (Call Expiry) at ₹80. If Nifty goes to 24,800 → profit = (24,800 - 24,700) - 80 = ₹20 × 50 = ₹1,000
Put Option (Bearish View):
• Aap expect karte ho price neeche aayegi
• Aap premium pay karke "right to sell" kharidte ho
• Profit: Strike price - premium ke below jitna price jaayega
• Loss: Limited to premium paid
• Example: Nifty at 24,600. Buy 24,500 PE (Put Expiry) at ₹60. If Nifty goes to 24,400 → profit = (24,500 - 24,400) - 60 = ₹40 × 50 = ₹2,000
Premium 2 cheezon se banta hai:
1. Intrinsic Value:
• Call: Max(0, Spot Price - Strike Price)
• Put: Max(0, Strike Price - Spot Price)
• Example: Nifty 24,600, Strike 24,500 CE → Intrinsic = 100
2. Time Value:
• Premium - Intrinsic Value
• Zyada time remaining = zyada time value
• Expiry ke paas time value = 0 (theta decay)
ITM, ATM, OTM:
• ITM (In The Money) — Call Option: Spot > Strike, Put Option: Spot < Strike
• ATM (At The Money) — Call Option: Spot = Strike, Put Option: Spot = Strike
• OTM (Out of The Money) — Call Option: Spot < Strike, Put Option: Spot > Strike
Beginners tip: ATM ya slightly ITM options kharido. OTM sasta hai but probability of profit kam hai.
Delta — Price Movement:
• Delta = kitna premium change hoga jab underlying ₹1 move kare
• Call Delta: 0 se 1 (typical 0.3-0.7)
• Put Delta: 0 se -1
• ITM options ka delta zyada, OTM ka kam
Theta — Time Decay:
• Har din premium kitna ghat-ta hai
• Theta hamesha negative (option buyers ke liye)
• Expiry ke paas theta accelerate hota hai
• Tip: Thursday ko OTM options premium = near zero
Vega — Volatility Impact:
• Volatility badhe → premium badhe (both calls and puts)
• Vega = kitna premium change hoga jab volatility 1% badhe
• High volatility = expensive options
Gamma — Delta ka Change:
• Gamma = Delta kitna change hoga jab price ₹1 move kare
• ATM options ka gamma highest
• Advanced concept — beginners ke liye ignore ok
Strategy 1: Long Call (Simplest):
• Buy 1 Call Option
• View: Bullish
• Max loss: Premium paid
• Max profit: Unlimited
• Best when: Strong uptrend + low volatility
Strategy 2: Long Put:
• Buy 1 Put Option
• View: Bearish
• Max loss: Premium paid
• Max profit: Strike - Premium (limited)
• Best when: Strong downtrend + low volatility
Strategy 3: Covered Call:
• Hold 100 shares + Sell 1 Call Option
• View: Neutral to slightly bullish
• Extra income from premium
• Best for: Long-term investors wanting extra income
Strategy 4: Bull Call Spread:
• Buy 1 ITM Call + Sell 1 OTM Call
• View: Moderately bullish
• Lower cost than plain call buy
• Max profit: Difference between strikes - net premium
• Best when: You expect limited upside
Rule 1: Hamesha SL Lagao:
• Option premium SL: 30-50% of premium
• Buy at ₹100? SL at ₹50-70
• Options mein SL zaroori hai — theta decay continuously loss karata hai
Rule 2: OTM Options Mat Kharido (Beginners):
• OTM sasta dikhta hai but 80% OTM options expire worthless
• ATM ya slightly ITM kharido
• OTM sirf experienced traders ke liye (hedging, spreads)
Rule 3: Expiry Day Pe Careful:
• Thursday = expiry day for NSE stock options
• Theta decay fastest on expiry day
• Premium can go to zero in hours
• Beginners: Don't trade on expiry day
Rule 4: Position Size Control:
• Options mein max 5-10% capital risk per trade
• ₹1,00,000 capital → max ₹5,000-10,000 per options trade
• Options can go to zero — position size accordingly
Rule 5: Hedging Sekho:
• Naked options buying = risky
• Spreads (bull call, bear put) = lower risk
• Hedging = ek option buy + ek sell = lower cost + lower risk
Ye chhe baatein dhyaan mein rakho:
• Sasta OTM kharidna — "₹5 ka option, double ho jayega" — 90% chance zero ho jayega
• Expiry pe hold karna — Thursday ko OTM options = zero
• Bina SL ke options buy — Theta + adverse movement = total loss
• Har week options trade karna — Options frequency kam rakho. 2-3 trades/week max.
• Naked selling (short options) — Unlimited risk. Beginners NEVER sell options.
• Lot size ignore karna — Nifty 1 lot = 50 shares. ₹80 premium = ₹4,000 total. Calculate before buying.
Minimum ₹50,000-1,00,000. Options mein capital loss risk zyada hai, isliye adequate capital zaroori hai.
Beginners ke liye delivery/swing trading better hai. Options advanced hai — pehle basics seekho, phir options try karo.
Nifty options better for beginners — high liquidity, less manipulation. Stock options mein specific stock risk bhi hota hai.
Haan! TRT index details page pe Options tab hai. Nifty 50 ke options data available hai. theretailtrader.org/index-details/NSEI
Haan, but discipline + risk management + strategy zaroori hai. 90% options traders lose money because they gamble, not trade.
Learn more on TRT: theretailtrader.org/blog Option chain data: theretailtrader.org/index-details/NSEI Pro (intraday + alerts): theretailtrader.org/pricing — ₹199/mo Telegram: @theretailtrader_in
Educational only. Options trading involves substantial risk. NOT investment advice.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.