Futures & Options Mastery
From derivatives basics to option-selling income strategies on BankNifty — with full coverage of Greeks, hedging, arbitrage, and F&O taxation. Trained by Atul Shrivastava.
What's Included
- 10 deep-dive modules
- All 5 Option Greeks explained
- 15+ option-selling strategies
- Weekly expiry playbook
- F&O taxation guide
- Lifetime updates & WhatsApp support
10 Modules covering F&O from A to Z
From your first option chain to professional option-selling and arbitrage strategies.
Derivatives Basics
What are derivatives, why they exist, who uses them and the four main types: Forwards, Futures, Options, Swaps.
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- What is a derivative & why it matters
- Forwards, Futures, Options & Swaps
- Underlying assets & lot sizes
- Exchanges: NSE F&O, BSE Sensex F&O
- Margin, MTM, expiry day mechanics
Futures Trading
Long & short futures, leverage, margin requirements, rollover, basis, contango & backwardation.
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- Long vs short futures
- Initial & SPAN margin
- Daily settlement (MTM)
- Cost of carry, basis, contango/backwardation
- Rollover strategies near expiry
- Index vs Stock futures
Options Basics
Call & Put options, ITM/ATM/OTM, premium decomposition, intrinsic vs time value.
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- Calls vs Puts (buyer & seller perspective)
- ITM, ATM, OTM
- Premium = Intrinsic + Time value
- Option chain reading
- Open Interest (OI) & volume analysis
Option Greeks (Delta, Gamma, Theta, Vega, Rho)
Understanding how options react to price, time, volatility and interest rate changes.
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- Delta - directional exposure
- Gamma - rate of change of Delta
- Theta - daily time decay
- Vega - volatility sensitivity
- Rho - interest rate effect
- Practical Greek combinations
Hedging Strategies
Protect a portfolio using protective puts, covered calls, collars, and futures hedge.
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- Protective Put
- Covered Call
- Collar Strategy
- Beta-weighted hedging
- Portfolio hedging with index options
Option Selling for Income
Theta-positive strategies - short straddles, strangles, iron condors, calendar & diagonal spreads.
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- Short Strangle on BankNifty
- Short Straddle (with delta hedge)
- Iron Condor & Iron Butterfly
- Calendar Spreads
- Diagonal Spreads
- Risk management for option sellers (SL, adjustments)
Directional Option Strategies
Bull call spread, bear put spread, ratio spreads, and butterflies for capped-risk plays.
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- Bull Call Spread / Bull Put Spread
- Bear Put Spread / Bear Call Spread
- Long Call Butterfly
- Ratio spreads
- Backspreads
Arbitrage & Volatility Trading
Cash-futures arbitrage, calendar arbitrage, and volatility-based trading using IV percentile.
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- Cash-futures arbitrage
- Reverse cash-and-carry
- Calendar arbitrage
- IV Rank & IV Percentile
- Volatility skew & smile
BankNifty & Nifty Live Strategies
Weekly expiry plays, Monday-Thursday-Friday strategies, and event-day playbook.
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- Weekly expiry strategies
- Tuesday/Thursday play book
- Budget & RBI policy strategies
- Earnings season trades
- Risk management on event days
F&O Taxation & Compliance
F&O = business income, audit thresholds, ITR-3, and how to optimise taxes legally.
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- F&O classified as non-speculative business income
- Turnover calculation for F&O
- Audit threshold (Section 44AB)
- ITR-3 filing for F&O traders
- Set-off & carry-forward of losses
Complete F&O Mastery Curriculum
Every single topic that's covered in the course — ordered the way we teach it.
Module 01 Derivatives Basics
| S/N | Topic |
|---|---|
| 01 | What is a derivative & why it matters |
| 02 | Forwards, Futures, Options & Swaps |
| 03 | Underlying assets & lot sizes |
| 04 | Exchanges: NSE F&O, BSE Sensex F&O |
| 05 | Margin, MTM, expiry day mechanics |
Module 02 Futures Trading
| S/N | Topic |
|---|---|
| 06 | Long vs short futures |
| 07 | Initial & SPAN margin |
| 08 | Daily settlement (MTM) |
| 09 | Cost of carry, basis, contango/backwardation |
| 10 | Rollover strategies near expiry |
| 11 | Index vs Stock futures |
Module 03 Options Basics
| S/N | Topic |
|---|---|
| 12 | Calls vs Puts (buyer & seller perspective) |
| 13 | ITM, ATM, OTM |
| 14 | Premium = Intrinsic + Time value |
| 15 | Option chain reading |
| 16 | Open Interest (OI) & volume analysis |
Module 04 Option Greeks (Delta, Gamma, Theta, Vega, Rho)
| S/N | Topic |
|---|---|
| 17 | Delta - directional exposure |
| 18 | Gamma - rate of change of Delta |
| 19 | Theta - daily time decay |
| 20 | Vega - volatility sensitivity |
| 21 | Rho - interest rate effect |
| 22 | Practical Greek combinations |
Module 05 Hedging Strategies
| S/N | Topic |
|---|---|
| 23 | Protective Put |
| 24 | Covered Call |
| 25 | Collar Strategy |
| 26 | Beta-weighted hedging |
| 27 | Portfolio hedging with index options |
Module 06 Option Selling for Income
| S/N | Topic |
|---|---|
| 28 | Short Strangle on BankNifty |
| 29 | Short Straddle (with delta hedge) |
| 30 | Iron Condor & Iron Butterfly |
| 31 | Calendar Spreads |
| 32 | Diagonal Spreads |
| 33 | Risk management for option sellers (SL, adjustments) |
Module 07 Directional Option Strategies
| S/N | Topic |
|---|---|
| 34 | Bull Call Spread / Bull Put Spread |
| 35 | Bear Put Spread / Bear Call Spread |
| 36 | Long Call Butterfly |
| 37 | Ratio spreads |
| 38 | Backspreads |
Module 08 Arbitrage & Volatility Trading
| S/N | Topic |
|---|---|
| 39 | Cash-futures arbitrage |
| 40 | Reverse cash-and-carry |
| 41 | Calendar arbitrage |
| 42 | IV Rank & IV Percentile |
| 43 | Volatility skew & smile |
Module 09 BankNifty & Nifty Live Strategies
| S/N | Topic |
|---|---|
| 44 | Weekly expiry strategies |
| 45 | Tuesday/Thursday play book |
| 46 | Budget & RBI policy strategies |
| 47 | Earnings season trades |
| 48 | Risk management on event days |
Module 10 F&O Taxation & Compliance
| S/N | Topic |
|---|---|
| 49 | F&O classified as non-speculative business income |
| 50 | Turnover calculation for F&O |
| 51 | Audit threshold (Section 44AB) |
| 52 | ITR-3 filing for F&O traders |
| 53 | Set-off & carry-forward of losses |
Total 53+ topics · Lifetime access · Live market case studies
Built for traders who want consistent F&O income
Professional traders
Add option-selling income strategies to your existing playbook. Learn Greeks-based adjustments and proper risk management.
Salaried & part-time
Trade BankNifty / Nifty weekly expiries around your job. Most strategies need 15-30 minutes per day.
Long-term investors
Use covered calls & protective puts to hedge your stock portfolio and earn extra premium income.