Options Tools
Free options tools for Indian traders — strategy payoff, option Greeks, margin and lot size, the index expiry calendar and an open interest summary.
01Strategy planning
Options Payoff Calculator
See what a strategy makes or loses at expiry for every index level — maximum profit, maximum loss and breakevens — before you place it.
Your result
At expiry, whole strategy
Profit / loss at expiry
Hover or tap the chart to read any index level
How it works & formula
At expiry each option is worth only its intrinsic value: a call is worth max(0, Index − Strike) and a put max(0, Strike − Index). For every leg, P&L = (Value at expiry − Premium) × Lots × Lot size, with the sign reversed for sold options. The strategy's P&L is the sum of its legs.
Because the payoff only bends at the strikes, maximum profit, maximum loss and the breakevens are calculated exactly from the strikes — not estimated from the chart. "Unlimited" means the strategy keeps gaining or losing as the index rises with no cap. Template premiums are Black-Scholes estimates (7 days, 12% IV); replace them with the live premiums you see.
02Option pricing
Option Greeks Calculator
Fair value and Greeks from the Black-Scholes model — with a plain-language line on what each number means for your premium.
Your result
Updates as you type
How it works & formula
Black-Scholes: d1 = [ln(S/K) + (r + σ²/2)T] / (σ√T), d2 = d1 − σ√T. Call = S·N(d1) − K·e^(−rT)·N(d2); Put = K·e^(−rT)·N(−d2) − S·N(−d1), with T in years (days ÷ 365) and σ the implied volatility.
Theta is shown per calendar day, and Vega and Rho per one percentage point — the way option chains quote them. The model assumes European-style options (NSE index options are European) and constant volatility, so real premiums can differ, especially around events.
03Position sizing
Margin & Lot Size Calculator
Turns lots into quantity, contract value and the capital a position roughly needs — and how many lots your capital can carry.
Your result
Updates as you type
This position needs more than your trading capital.
How it works & what "approximate" means
Quantity = Lots × Lot size. Contract value = Index level × Quantity. An option buyer needs the full premium: Premium × Quantity — this figure is exact.
Option sellers and futures traders post margin (SPAN + exposure) that the exchange recalculates every day with volatility. The calculator uses Contract value × the margin % you enter, so treat it as an estimate and confirm the exact number with your broker's margin calculator. Max lots = Capital ÷ Needed per lot, rounded down.
04Planning
Expiry Calendar
Every weekly and monthly index expiry on one calendar — with holiday shifts already applied.
Coming up
Rule used: NSE index options expire on Tuesday and BSE SENSEX on Thursday; the monthly contract is the last one of the month; if that day is a trading holiday, expiry moves to the previous trading day. Holiday list last reviewed 29 Sep 2026.
Where these dates come from
Dates are calculated in your browser from the exchanges' published rules and the official trading-holiday list — nothing is fetched live. Exchanges occasionally announce special changes (a new expiry day, an extra holiday); the site updates its reference data when they do, but always confirm a critical date with your broker or the exchange circular.
05Open interest
Open Interest Summary
Paste an option chain from your broker or NSE and get the put-call ratio, max pain and where open interest is concentrated — at a glance.
Your result
Updates when the chain changes
Open interest by strike
How it works & what it does not tell you
PCR = Total put OI ÷ Total call OI. Max pain is the listed strike where the total intrinsic value of all open calls and puts at expiry — what option writers would pay out — is smallest. Highest call/put OI shows the strikes with the most open contracts.
These are descriptive statistics about where positions are right now. They are not signals and do not predict where the index will expire.
Frequently asked questions
What does an options payoff calculator show?
It shows how much an option position or strategy would make or lose at expiry for every possible level of the index, along with its maximum profit, maximum loss and breakeven points. It helps you understand a trade's risk before placing it.
What are option Greeks?
Greeks measure how an option's premium reacts to changes: Delta to the index price, Gamma to changes in Delta, Theta to the passage of time, Vega to implied volatility and Rho to interest rates. This calculator estimates them with the Black-Scholes model.
What is the current NIFTY lot size?
After NSE's revision effective 30 December 2025, the NIFTY 50 lot size is 65 and Bank Nifty is 30. Lot sizes are revised periodically, so always confirm the latest circular or your broker's contract details.
On which day do NIFTY and SENSEX options expire?
NSE index options, including NIFTY, expire on Tuesday and BSE's SENSEX options on Thursday. The monthly contract expires on the last such day of the month. If the expiry day is a trading holiday, expiry moves to the previous trading day.
Is the margin shown here exact?
No. Option buyers pay the full premium, which the calculator shows exactly. For option selling and futures, exchanges set SPAN and exposure margin that changes daily, so the calculator uses a percentage you can edit. Use your broker's margin calculator for the exact figure.
What do PCR and max pain mean?
The put-call ratio (PCR) divides total put open interest by total call open interest. Max pain is the strike at which option buyers' combined value at expiry would be lowest. Both describe where positions are today; neither predicts where the market will go.
Is my option chain data uploaded anywhere?
No. The OI Summary reads the CSV you paste or choose inside your own browser. Nothing is sent to this website's server or stored.
These tools are provided for educational and informational purposes only. They use the inputs and assumptions provided by the user and should not be considered financial, investment or trading advice. Market conditions, broker charges, margins, lot sizes, taxes and regulations may change. Verify applicable charges and rules with your broker or relevant official source before making financial decisions.