Options thu har hrilhfiahna

Call options kalphung tih ziakah khan call options awmzia kan lo zir tawh a. I la chhiar lo a nih chuan, chhiar hmasa ngei ngei la, i tan he bung thara kan zirturte hi hriatthiam a ti awlsam ngei ang.

Finance khawvelah hian thumal tamzawk hi English/Sap ṭawng deuh vek a ni a. Mizo hian a hranpa in chung thumal tam zawkte chu kan nei ve lem lo. Chung thumal chu a ngial a ngan a lehlin a nih chuan, awmze bo thak thei te a ni hlawm. Chuvang chuan Sap ṭawnga thumal awmsa Mizo tawnga kan dah dawn chuan hrilhfiahna ang deuh a dah a ngai ṭhin tih hriat a ṭha awm e. Chutiang a ni tih hre reng chuan i lo chhiar dawn nia.

Tunah chuan Options hrethiam lehzual tura thu har tlem a zawng sawifiahnan hun kan hmang dawn a, kan sawifiah turte hi kan hriatthiam a kan thiam bel a nih chuan, Options kalphung zir a nuamin a hahdamthlak leh sawt dawn a ni.

Kan zirho turte chu -

1. Strike Price
2. Underlying Price
3. Option Contract exercising
4. Option Expiry
5. Option Premium
6. Option Settlement

Tunah options thu har hrilhfiahna hun i lo hmang ṭan ang.

Strike Price

Strike Price chu thil man zata mi pahnih an inremtawnna ti ila a dik awm e. Tehkhin thu ah, zirlai hmasa lama entir na kan hman kha ring chhunzawm ta ila, Sanga khan Mawia ram kha ₹5,00,000 in a duh chuan a lei thei ang kan ti a, Mawia pawh in Sanga'n ₹5,00,000/- mana a lei duh a nih chuan rem a lo ti ve bawk a, ram man chungchang a an inremtawnna zat hi Strike Price chu a ni. Stock example-ah pawh khan ₹75/- kha kan strike price chu a lo ni ve bawk. Call option tan, Strike Price chuan, expiry day (option contract a thih hun emaw call option leitu in a thu neihna a hman theih hun) a stock kan lei theihna man zat a entir a nih ber chu.

Entir nan, mi pakhat hian ITC Limited Call Option ₹285 strike price a lei a nih chuan - expiry ni ah ₹285-a ITC shares a lei theih nan, vawiinah Call Option a leina pa hnenah chuan intiamkamna man Premium kan tih chu a pe phal tihna a ni a. Expiry a lo thlen hunah, ₹285 mana lei theihna dan, 'Premium' hmangin a lei pawh kan ti thei awm e. Engle khawle, expiry ni a lo thlen hunah ITC share man chu ₹285 aia sangah a awm a nih lem loh chuan, ₹285 a lei hian awmzia a nei lo ang, a awmzia hrethiam tur chuan zirlai hmasa 'Call Options kalphung' tih kha i lo chhiar nawn leh dawn nia.

NSE Website aṭanga lak ITC stock strike price hrang hrang leh a premium man zat lanna a hnuaiah hian kan rawn tarlang bawk a.

Option Chain (Equity Derivatives)

A chunga table i hmuh hi 'Option Chain' kan ti a, Option Chain-in a rawn tarlan ber chu, strike price hrang hrang leh chung options strike price-te premium man zat chu a ni mai. Heng bakah hian, option chain hian Open Interest, Volume, bid-ask, quantity leh adt., pawh a rawn tarlang tel bawk a. Tunah rih chuan heng ho hi ngaihven rih loh a ṭha ang a, kan thai sen leh thai pawl ah chiah hian kan rilru i han pe phawt teh ang -

1. A chung bera rin sen a kan thai hian ITC share man a entir a, kan buatsaih lai chuan ITC share pakhat man hi ₹286.10 a ni tih a chiang viau awm e.
2. Rawng pawl a kan thai ve thung hian Strike Price hrang hrang a tarlang ve thung a. ₹5 dan zelah strike price thlan tur a awm tih kan hmu thei awm e.
3. Strike Price pakhat hi strike price dang aṭanga lakin a hrang a, options hmanga intiamkamnaa lut duh chuan a strike price duh a thlang ang, chu strike price premium man chu a pek a ngai ang.
4. A chungah khian, fei in kan kawhtir a, i han en chian deuh chuan khi khi ₹285 strike price premium man niin, ₹4.60 man a ni.
   1. Khi ₹285 strike price khi i lei a nih chuan, expiry a rawn thlen hunah ITC share chu ₹285-a lei theihna dan emaw thuneihna emaw i nei ang. Chu i lei theihna dan emaw thuneihna chu i tana hlawkna a awm chauhin i hmang ang a, chung chu i hrethiam tawhin a rinawm.

Underlying Price

Kan hriat tawh angin, Derivative hmanga inremsiamna (contract) hian hlutna a nei ve thei a, chu a hlutna chu an inremsiamna chhan thil hlutna nei - asset aṭanga tehchhuah a ni. Chu thil hlutna nei asset chu derivative 'underlying' an ti bawk. A chunga entirna kan pekah khan, ITC share pakhat man kha ₹286.10 a ni a, hei hi Underlying Price a ni nghal bawk (Spot Price kan ti ṭhin bawk). Call option premium man sang chho tur chuan, a underlying price chu a awmna hmun aṭanga a san chhoh ve zel a ṭul. ITC strike price 285 khi ₹4.60 (premium) in lei ta la, hlep emaw hlawkna hmu tur chuan, ITC share pakhat man (underlying) chu 286.10 atanga a san chhoh a ngai tihna a nih chu.

Option contract exercising

Call Option Contract emaw Call Option hmanga intiamkamna i lei kha i 'exercise' a nih chuan, i asset hralh tura intiamkamna zuartu (option seller) hnen aṭang khan chu asset chu in strike price inremna man khan a hnen aṭang i lei thei tihna a ni. Chuvang chuan exercising kan tih khan, i thuneihna i hmang tihna a ni thei awm e. Expiry ni ah chiah i option lei chu i exercise thei tih hriat a ṭha bawk.

Entir nan, expiry ni thleng turin ni 15 la awmah, ITC 285 Call Option chu lei la, ITC share man chu 280 la ni bawk sela, a tukah emaw ITC share man chu 280 aṭang 300 ah chho ta sela, ITC 285 Call option leitu i nih angin 285 mana i lei thei tura i thuneihna kha i hmang thei ngawt lo. Settlement kan tih chu a thleng thei lo va, expiry ni ah chiah a thleng thei a ni. Chuvang chuan settlement chu expiry ni a Underlying price awm dan a zirin a thleng chauh ang.

Settlement: Share leitu i nih chuan, i hnena hralhtu chuan shares i lei chu i demat account-ah (share dahkhawmna hmun/account) a rawn dah a ngai ṭhin a, hei hi Settlement an ti. Chutiang bawkin, share hralhtu i nih chuan i va hralna demat account-ah i share hralh chu i va dah a ṭul. Heng zawng zawng hi clearing corporation-in a lo buaipui ṭhin a ni.

Option Expiry

Intiamkamna dangte ang bawkin Option pawh hian ral hun/thih hun a nei ve. Hemi ka ziah laia ka la sawifiah loh Equity Futures leh Equity Options-te hi thla tin thawlehni hian chu mi thla atana option contract chu a thi/nung tawh lo ṭhin. Chutiang a nih avang chuan Current Month (tun thla emaw nung tawhlo hmasa ber tur option contract sawina), Mid Month (Thla leh option sawina) leh Far Month (Thla leh lehpek option sawina) ti ten an thliar hrang ve leh bawk. A hnuaia entirnaah hian a chiang awm e -

A chunga thlalak hi Reliance Ltd. option a ni a, Expiry Date tih hnuaiah khian Expiry pathum - 25th Aug 2026 (tun thla), 29th Sep 2026 (thla leh) leh 27th Oct 2026 (thla leh lehpek) te an awm. Expiry hrang hrang hian strike price inang an nei ṭheuh a, amaherawh chu chung strike price premium erawh a danglam ṭheuh thung, nakinah kan la zir zau zel ang. Tunah rih chuan, Stock Options te hian Expiry pathum an nei a, chung expiry pathum te strike price a inang vek thin a mahse an premium erawh a dang ṭheuh thung tih hriat phawt mai a ṭha awm e.

Option Premium

Options premium chungchang hi kan vawi khat sawina tur a ni lo va, zirlai lamah pawh kan lo sawifiah tawh a nih kha. Engpawh ni sela, Option premium kan tih hi option buyer (a leitu) in a option seller (a hralhtu) hnena sum a pek ngai a ni a. Hetia option premium leitu in sum a pek a, a hralhtu in a lo dawn hian, expiry a thlen hunah a leitu zawk hian thuneihna (call option-ah chuan asset lei theihna, put option-ah chuan asset hralh theihna) a nei dawn a ni. Options trading-ah chuan option premium hian hmun pawimawh tak a chang tih hriat a ṭha awm e.

Sanga-Mawia te entir na kha han en let leh ta ila, Mawia'n premium ₹1,00,000 man Sanga hnen aṭanga a dawn khan heng a hnuaia kan ziahte hian nasa tak in nghawng a nei thei a -

1. News - Kawngpui siam chungchang kha thuthang satliah ve mai mai a ni a, siam a ni tak tak dawn em tih hriat lawk tak tak a ni lo.
   1. Han ngaihtuah chiang mah la, thil thleng thei pathum kan sawi aṭanga pahnih kha Mawia tan hlawkna awm theihna a ni. Mawia chu dinhmun ṭha a ding zawk a nih piah lamah, kawngpui siam chungchangah thil thleng tur engmah a chian loh avangin Mawia dinhmun a siam ṭha sawt bawk.
2. Hun - Sanga leh Mawia te kha kawngpui siam tur a nih leh nih loh chiang tur chuan thla ruk an nghah a ngai a nih kha.
   1. Hei hi Sanga tan hamṭhatna a ni zawk. Hun a la tam chuan, Sanga duh dan a thil a thlen theihna 'chance' a sang zawk a ni. Heti pawh hian ngaihtuah ta ila - km 10 tlan tur ni ta la, minit 20 ai chuan minit 70 chhunga i tlan chhuah hman a rinawm zawk a ni. Chuvang chuan hun ala tam poh leh, Sanga (option leitu) tan thil a duh dana a thlen theihna 'chance' chu a sang zawk a ni.

A chunga kan sawite pahnih khian option mana nghawng an neih theih dan han zir chiang lehzual ila.

News - Sanga leh Mawia ten inremna/intiamkamna an neih chiah khan thil thleng thei tur chu rinthu emaw ngaihruat thu emaw (speculation) a ni tawh a, thil chiang tak a awm lo a ni, chung rinthu thleng thei pathum zinga pahnih (ram man tlahniam leh ram man inthlak danglam lo) chu Mawia tan hlawkna a nih avangin, Mawia chuan he inremsiamnaa lut tur hian Sanga hnen aṭang premium ₹1,00,000 pawh chu a dawng ngam ta a ni. Kawngpui siam chungchangah khan, tehkhin thu in, sorkar mi pakhatin siam ala ni mahna tih han sawi zauh ta sela, kawngpui siam a nih leh nih loh chuan awn lam a nei tawh zawk ang. A eng a pawh chu nise, rinthu emaw ngaihruat thu emaw ala tel ta ve ve tho a ni.

Kan sawi hnuhnung zawk dinhmunah hian Mawia chuan ₹1,00,000 premium chu a dawn duh tho i ring em? A duh lo maithei a ni, a chhan chu kawngpui siam a thlen theihna 'chance' chu a san tawh avangin. Amaherawh chu, sorkar mi khan a thleng mahna a ti a, "A thleng ngei dawn e.", a ti chuang si lo va, premium man sang zawk entir nan, ₹2,00,000 vel Mawia hi dawng tur ni ta sela, intiamnaa luh chu Mawia tan a thlanawm ve leh deuh mahna.

Kan sawi takte hi stock market ang zawngin han kuai her ta ila, Infosys company share man hi vawiin hian ₹2200/- ni ta sela, 2300 (strike price) Call option thla khat expiry la awm chu ₹20/- (premium) ni bawk sela. Mawia dinhmunah (option seller/hralhtu) khan han inchan ta la, ₹20/- premium dawngin intiamkamnaah i lut duh ang em?

He intiamkamnaah hian option seller anga i lut anih chuan, thla khat a ral hunah (expiry) intiamkamnaa i luh pui option buyer hnenah khan i hnen aṭang ₹2300 mana Infosys share lei theihna dan i pe tihna a ni.

Thla khat lo la awm turah chuan Infosys aṭang hian thuchhuah, an share man nawr chho thei tur engmah awm dawn lo ta sela, premium ₹20/- chu dawngin option seller ni turin intiamkamnaah chuan i lut ngam mahna.

Amaherawh chu, Infosys hian pawl thuchhuah puitham, entir nan Quarterly Result-te chhuak tur ni ta sela, hei hian an share man a vawrh chhoh theih avangin, ₹20/- premium dawngtu nih a, intiamkamnaa luh chu a finthlak lutuk lo maithei.

Quarterly Result chu chhuak tur ni tho mah se mi pakhat chuan i hnenah ₹20/- man lek ni lovin ₹100/- premium dawng a option seller nihna rawn hlan tum ta che sela, risk lak man pawh a awm deuh mahna.

Kan sawi zawh takte hi lo chhinchhiah ila, tunah chuan 'hun' chuangchang i sawi ve leh lawk ang.

Sanga leh Mawia ten intiamkamna an neih khan thla ruk hun an nei a, Sanga chuan hun ala tam avangin a duh dan a thil a thlen theihna 'chance' ala sang tih pawh a hria. Tihian suangtuahna nei ta ila, thla ruk ni lovin, ni sawm chauh hun a awmah intiamkamna neih ni dawn ta sela? Hun a tlem em avangin, Sanga chuan a duh dan a thil a thlen theihnan hun a tlem tih a hrethiam ngei ang. Hetiang dinhmunah chuan 'hun' Sanga lamah a ṭang lo va, ₹1,00,000 premium pek pawh atan a man lem lo a ni. Amaherawh chu, intiamkamna neihpui ala duh ṭalh a nih chuan, Sanga chuan atana premium man deuh tur zawk ₹20,000/- lek a pek a rinawm.

News leh Hun in a nghawng theih thil kan sawina enga lang chiang chu, premium man hi a ngai reng thei lo va, thil thleng thei hrang hrang a zirin a inthlak danglam ṭhin tih hi a ni. Chung thil thleng thei chuan premium man chu a tipungin a tihniam thei bawk, tin market tak takah chuan, heng premium man nghawng thei thilte chuan a hu hovin premium man chu thlak danglam rengin, an ti che reng ta ṭhin a ni. Heng premium man nghawng theite (factors) hi hlawm lian panga ah ṭhen a ni a, a hmingah 'Option Greeks' an ti. Amaherawh chu, Option Greek hrethiam tur chuan kan sawi chin hi ala tlem deuh avangin, kan sawi belh rih lo ang.

Tun atan chuan, option premium chungchangah heng pathum te hi han bel em em mai ila -

1. Option zirchiannaah chuan premium kalphung hriatthiam hi a pawimawh em em a ni.
2. Premium hi market-ah chuan a ngai reng ngai lova, nghawng thei thil hrang hrang an awm avangin, premium hi a inthlak reng a ni.
3. Minit chu sawi loh, second tin premium man hi a inthlak a ni.

Options Settlement

He Call Option intiamkamna hi i en ho ang -

Rawng hringa kan thai lan ang hian, hei hi JP Associates ₹25/- a lei theihna tur Call Option a ni. A expiry ni chu 26th March 2015 niin, a premium man hi ₹1.35/- (thai sen) a ni a, market lot 8000 shares a ni bawk.

Tehkhinthu ah, trader pahnih - 'Trader A' leh 'Trader B' awm ta sela. Trader A chuan he intiamkamna lei a duh a (call buyer), Trader B chuan he intiamkamna hi a zuartu (call seller) nih a duh bawk a. Share 8000 hmangin intiamkamna an nei dawn a, hetiang hian sum a kalkual ang -

Premium man chu share pakhat zelah ₹8.35/- a nih avangin, Trader A chuan heti zat hi premium manah Trader B hnenah a pek a ngai ang.

= 8000 x 3.35

= ₹10,800/-

Trader B chuan a chunga kan tarlan premium khi Trader A aṭanga dawn a remtih avangin, Trader A hian option contract a lei chu expiry ni 26th March 2015-ah, a 'exercise' a nih ngai chuan, Trader B hian Trader A hnena share 8000, ₹25/- a hralh chu a tihmakmawh a lo ni ta a ni.

Entir nan, 26th March 2015, he call option expiry ni ah chuan JP Associates share man chu ₹32/- ah in khar dawn ta sela, Trader A hian ₹25 a lei theihna dan chu a hman a rinawm. Chuvangin hetiang hian Physical Delivery (Stocks Futures leh Options-ah) kan tih chu a thleng ang -

• Trader B chuan a share dahkhawmna hmun (demat account) ah JP Associates share 8000 a lo neih a ngai ang a, hei hi Exchange in a lo lak sak ang (Trader B Gives Delivery).
• Chu share 8000 trader B atanga Exchange-in a lak chu Trader A demat account-ah an va dah ve thung ang (Trader A Takes Delivery).

Trader B hian 26th March 2015-ah chuan a demat account-ah share 8000 a lo neih a ngaih avangin, share pakhat ₹32/- manin a lei a ngai ang a, chu shares a lo lei khawm vek chu, trader A hnenah ₹25/- manin a hralh leh a ngai dawn tihna a ni, option intiamkamnaa a luh vang a ni. Trader A hlep zat tur chu -

Trader A in premium, B hnena a pek zat (Expense) = ₹10,800/-

Trader B atanga Trader A in stock a leina man = ₹25 x 8000 shares = ₹2,00,000

Trader A in market-a a hralh lehnghal theihna man = ₹32 x 8000 shares = ₹2,56,000

Trader A hlep = ₹(2,56,000 - 2,00,000) - ₹10,800 (Expense) = ₹45,200

Percentage ang zawnga i chhut a nih chuan, Trader A hian a sumlu hman zat (₹10,800) atang chuan 419% a hlep a ni.

Hetiang a nih theih thin avang hian, options hi trade a chakawm thin a, traders-te zingah a lar hle bawk a ni.

He zirlai atanga kan zir tlangpuite

1. Thil hlutna nei thei Asset kan trade tur man chu a pung chho dawn nia kan hriat chauhin Call option leitu nih hian awmzia a nei.
2. Strike Price kan tih hi option intiamkamna leitu leh hralhtu te sa ui tanna man/price, an inremsiamna man emaw an lungawina man emaw kan ti thei awm e.
3. Underlying price kan tih chu, option intiamkamna an neihna asset man hi a ni, spot price an ti bawk.
4. Kan la sawi thlen loh Futures pawh hian expiry a nei a. Thu dang a awm leh hma chu, thla tin thawhlehni hnuhnung ber hi a expire ni a ni thin.
5. Call Option i exercise a nih chuan, expiry ni ah in intiam ang ngeiin, in intiamna manin, thil in intiam a chu i lei thei ang.
6. Option intiamkamna hian expiry chi thum a nei a - Current Month, Mid Month leh Far Month expiry te an ni.
7. Premium man hi a ngai reng thei lo va, a man nghawng thei thil tam tak a awm.
8. Thu dang a awm leh hma chu, stock options hian Physical Settlement (demat account a share inthlengtawn) a zui rih.

Options trading hi i tui ve a nih chuan kan partner Zerodha hmang hian i lo trade ve dawn nia (Vawi khat Order-ah ₹20 chauh i chawi thin ang)