A short live online course by 9AM Traders Academy, New Delhi. In 4 classes it covers how options work, how premiums move, simple trade setups and strict risk control for small capital.

₹1,999 one-time for all 4 live classes.

Live. You learn from a teacher in real time and can ask your doubts during class, which recorded videos cannot do.

Hindi and English. Classes are taught in a mix so that everyone can follow comfortably.

Mentors of 9AM Traders Academy, a stock market institute in New Delhi established in 2016.

No. Class 1 starts from what an option is. Knowing basic market terms helps, but it is not required.

A phone or laptop and a stable internet connection. A laptop is better because you can keep charts open alongside the class.

Yes. The course is online, so you can join from anywhere in India.

Message us on WhatsApp and we will help you catch up.

YouTube gives you scattered videos with no one to answer you. This course follows a set order, and a live teacher answers your doubts on real charts.

Recorded courses cost about the same but leave you alone with your doubts. Here you get a live teacher at a similar price.

No. 9AM Traders Academy provides education only. We teach you to analyse for yourself and do not give tips or calls.

Yes. You can book a free demo class to see how we teach before you pay.

Send us a message on WhatsApp or email info@9amtraders.com and we will share the batch details.

For a full programme, see the Alpha course or the Derivatives (F&O) course, which also covers option selling and spreads.

Students can request a certificate or letter through the certificate request page.

An option is a contract that gives the buyer the right, but not the obligation, to buy or sell an asset at a fixed price before or on a fixed date. You pay a price called the premium for this right.

A call option gains value when the price of the underlying, such as Nifty, goes up. You buy a call when you expect a rise.

A put option gains value when the price of the underlying goes down. You buy a put when you expect a fall.

Paying the premium to buy a call or put. Your maximum loss is the premium you paid, and your profit depends on how far and how fast the market moves in your direction.

The fixed price written into the option contract. For example, a Nifty 25,000 call gains intrinsic value only when Nifty is above 25,000.

The price you pay to buy an option, quoted per unit. Total cost is the premium multiplied by the lot size and the number of lots.

The minimum number of units in one option contract, fixed by the exchange. Lot sizes are revised from time to time, so check the current size on NSE before you trade.

The last day an option contract exists. After expiry, the option is settled and stops trading. Options lose time value as expiry comes closer.

Nifty weekly options currently expire on Tuesday, and the monthly contract on the last Tuesday of the month. Exchanges have changed expiry days before, so always check the current NSE calendar.

Weekly options expire every week and monthly options expire once a month. Weekly options are cheaper but lose value much faster, which makes them harder for beginners.

A call whose strike is below the current price, or a put whose strike is above it. ITM options have intrinsic value and cost more.

An option whose strike is closest to the current market price. ATM options usually have the most time value.

A call with a strike above the current price, or a put with a strike below it. OTM options have no intrinsic value, only time value.

Because the market must move a long way just to reach the strike. Most far OTM options expire worthless, so a low price does not mean a good deal.

A table showing all strikes for an expiry with their call and put premiums, open interest, volume and other data. It helps you compare strikes before choosing one.

The number of option contracts that are open and not yet closed. Rising OI shows new positions are being added at that strike.

The price the underlying must reach at expiry for you to stop losing. For a call it is strike plus premium; for a put it is strike minus premium.

Intrinsic value is the real value if the option expired now. Time value is the extra amount paid for the chance of a bigger move, and it shrinks to zero by expiry.

No. As a buyer, your maximum loss is the premium you paid plus charges. Option sellers are the ones who can lose more than they receive.

No. You can sell your option any time the market is open. Most traders exit long before expiry.

Index options such as Nifty are settled in cash. Stock options that are in the money at expiry are physically settled, which means you may have to take or give delivery of shares, so exit them before expiry unless you plan for that.

Index options are on indices like Nifty and are usually more liquid. Stock options are on individual shares, can have wider bid-ask spreads and are physically settled at expiry.

Because of time decay. Every day an option loses some time value, and the loss speeds up as expiry gets closer.

Theta shows roughly how much premium an option loses each day from time decay, with everything else unchanged. For buyers, theta works against you.

Delta shows roughly how much the premium changes when the underlying moves by one point. ATM options have a delta near 0.5; deep OTM options have a very small delta.

Gamma shows how fast delta changes as the market moves. It becomes very high near expiry, which is why premiums can jump or crash quickly on expiry day.

Vega shows how much the premium changes when implied volatility changes. When volatility falls, option buyers lose even if the price stays the same.

The market's expectation of how much the price may move, built into the premium. High IV makes options expensive; low IV makes them cheaper.

An index from NSE that shows the expected volatility of Nifty over the coming 30 days. A higher VIX usually means costlier options.

A sharp fall in implied volatility right after an expected event such as results, the Budget or an RBI policy. Premiums can drop sharply even if the market moves your way.

Usually because the move was too small or too slow to beat time decay, or because implied volatility dropped. Being right on direction is not enough in option buying.

Very little time value is left and gamma is high, so small moves in the index cause big percentage swings in premium.

Generally no. Expiry-day options can go to zero within minutes. SEBI's data shows a large share of retail losses comes from expiry-day trading.

Balance cost against probability. Strikes near ATM or slightly ITM move more with the index, while far OTM strikes are cheap but rarely pay off.

Give your trade enough time to work. A slightly further expiry costs more but decays more slowly than the nearest one.

The gap between the highest buying price and lowest selling price. A wide spread means you lose money the moment you enter, so prefer liquid strikes.

Analyse the underlying, such as the Nifty chart, for trend and key levels. Then pick the option. Option charts alone are distorted by time decay.

You can, but you are then guessing. A basic understanding of trend, support and resistance gives your entries and exits a reason.

There is no fixed best time. The first minutes after the 9:15 am open are often volatile, so many traders wait for the price to settle and a setup to form.

Plan it on the chart, where your idea is proven wrong, then convert it to a premium level. Always decide it before you enter.

A stop-loss you move in your favour as the trade gains, so that you lock in part of the profit if the market turns back.

Limit orders are safer. Market orders in options can fill at a poor price, especially in fast markets or illiquid strikes.

The difference between the price you expected and the price you got. It is higher in illiquid options and during fast moves.

No. Adding to a losing option means putting more money into a decaying asset. Exit at your stop-loss instead.

As few as your plan allows. More trades mean more charges and more emotional decisions. Many disciplined traders take one or two planned trades or none.

You can, but you face overnight gap risk and lose a day of time value. Beginners should be cautious with overnight option buying.

It can be, because the maximum loss is fixed. But intraday option buying needs tight discipline, quick decisions and strict loss limits.

Spreads limit cost and risk by combining options, but need more knowledge. They are covered in our Derivatives (F&O) course.

None to learn. When you start, use a small amount you can fully afford to lose, only after a few weeks of paper trading.

Many traders risk only 1 to 2% of their trading capital on a single trade. Use the How many lots? calculator on this page to check.

Deciding how many lots to buy based on how much you are willing to lose if your stop-loss hits, not based on how much money is in your account.

A fixed amount that, once lost in a day, means you stop trading for the day. It stops one bad day from becoming a disaster.

No. Never trade with loans, credit cards or money needed for rent, fees or family expenses. Losses in options can come very fast.

For most people, no. SEBI data shows most individual traders lose money. Treat it as a skill to learn slowly, not a job replacement.

Not by trading bigger. Pause, review your journal, reduce size and rebuild slowly. A 50% loss needs a 100% gain just to break even.

Taking hurried trades to win back money right after a loss. It usually leads to bigger losses.

Trading too often or too large out of boredom, excitement or frustration. It raises charges and mistakes.

Fear of missing out: jumping into a trade because the market is moving fast, without a setup. It often means buying at the worst price.

A journal shows your real mistakes and habits. Write the reason, entry, exit and feelings for each trade. You can use the free 9AM trading journal.

Practising trades on paper or a simulator without real money, to test your process before risking capital.

At least a few weeks, and until you follow your rules consistently. This course suggests a 30-day paper-trading plan.

SEBI's studies show most individual F&O traders lose, mainly through options. Common reasons are time decay, expiry-day trading, overtrading, high charges and no risk rules. Read the SEBI study explained.

Brokerage, Securities Transaction Tax (STT), exchange transaction charges, SEBI fees, stamp duty and GST. Your broker's contract note shows the exact amounts.

From 1 April 2026, STT is 0.15% of the premium on the sell side, and 0.15% of intrinsic value on options that are exercised. Rates can change, so check your broker's latest charges.

Fixed costs like brokerage take a bigger share of small profits. Frequent small trades can lose money to charges alone. Try the charges calculator on this page.

Profit from F&O is generally treated as non-speculative business income and taxed at your income slab rate. Consult a chartered accountant for your case.

F&O income is usually reported in ITR-3 as business income. A chartered accountant can confirm the right form for you.

F&O losses can generally be set off against other income except salary in the same year, and carried forward for up to 8 years against business income if you file your return on time. Confirm with a CA.

For tax purposes, option turnover is commonly calculated as the total of absolute profits and losses on each trade, not the contract value. Your CA will confirm the method.

It depends on your turnover, profit and how you file. Many traders do not need one, but some do. Ask a chartered accountant.

Yes. Reporting losses and filing on time lets you carry them forward, and keeps your tax record clean.

No. GST is charged on brokerage and some fees, not on your profit or premium.

Yes. Equity options trade on NSE and BSE and are regulated by SEBI.

Since late 2024, SEBI has raised contract sizes, limited weekly expiries to one benchmark index per exchange, required brokers to collect option premium upfront, and tightened expiry-day rules. More changes may follow.

No. We provide education only. We do not give buy or sell recommendations or manage money.

Warning signs: guaranteed returns, profit screenshots, paid Telegram or WhatsApp tip groups, pressure to act fast, and requests to share your login or pay into personal accounts.

Most are not. Many are unregistered and some are outright scams. See our investor awareness guide.

Search the name or registration number in the intermediaries list on the SEBI website. Anyone giving paid buy or sell advice should be registered.

First complain to the broker. If unresolved, file a complaint on SEBI's SCORES portal through the SEBI website.

No. Brokers do not allow derivatives trading in a minor's account.

Option buyers must pay the full premium when buying. There is no margin or leverage for buying an option.

SEBI's data shows nearly all profits of FPIs and prop desks come from algos. Retail traders should first build a manual process; any algo must go through a broker under SEBI's rules.

It depends on charges, platform and support. Compare them on our broker comparison page.

Request F&O activation from your broker. Brokers usually ask for proof of income, such as a bank statement, salary slip or ITR, and a risk disclosure acceptance.