Symbol

Date

Expiry

SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA

1-Nov-13
3-Nov-13
5-Nov-13
6-Nov-13
7-Nov-13
8-Nov-13
11-Nov-13
12-Nov-13
13-Nov-13
14-Nov-13
18-Nov-13
19-Nov-13
20-Nov-13
21-Nov-13
22-Nov-13
25-Nov-13
26-Nov-13
27-Nov-13
28-Nov-13
1-Nov-13
3-Nov-13
5-Nov-13
6-Nov-13
7-Nov-13
8-Nov-13
11-Nov-13
12-Nov-13
13-Nov-13
14-Nov-13
18-Nov-13
19-Nov-13
20-Nov-13
21-Nov-13
22-Nov-13
25-Nov-13
26-Nov-13
27-Nov-13
28-Nov-13
1-Nov-13
3-Nov-13
5-Nov-13
6-Nov-13
7-Nov-13
8-Nov-13
11-Nov-13

28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13

Option
Type
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE

Strike
Price (X)
580
580
580
580
580
580
580
580
580
580
580
580
580
580
580
580
580
580
580
590
590
590
590
590
590
590
590
590
590
590
590
590
590
590
590
590
590
590
600
600
600
600
600
600
600

Open

High

Low

0
0
0
0
0
0
0
43.5
0
0
0
0
0
12.25
8.8
8.9
9
2.1
2.75
0
0
0
24.1
0
0
0
0
0
0
0
0
0
9.3
6.6
5.5
4
0.4
0.4
24.7
0
21
17.25
27
21.9
21.85

0
0
0
0
0
0
0
43.5
0
0
0
0
0
14.65
10.9
10.25
14.05
4.95
2.75
0
0
0
32.75
0
0
0
0
0
0
0
0
0
10.5
7
5.8
10
1
0.4
24.7
0
21.5
28.25
29.95
26.5
22.1

0
0
0
0
0
0
0
43.5
0
0
0
0
0
11
5.3
6.2
2.8
1.15
0.05
0
0
0
20.3
0
0
0
0
0
0
0
0
0
6.6
3.3
3
1.2
0.25
0.05
24.7
0
17.05
15.6
22.5
19.5
18.75

SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA
SUNPHARMA

12-Nov-13
13-Nov-13
14-Nov-13
18-Nov-13
19-Nov-13
20-Nov-13
21-Nov-13
22-Nov-13
25-Nov-13
26-Nov-13
27-Nov-13
28-Nov-13
1-Nov-13
3-Nov-13
5-Nov-13
6-Nov-13
7-Nov-13
8-Nov-13
11-Nov-13
12-Nov-13
13-Nov-13
14-Nov-13
18-Nov-13
19-Nov-13
20-Nov-13
21-Nov-13
22-Nov-13
25-Nov-13
26-Nov-13
27-Nov-13
28-Nov-13
1-Nov-13
3-Nov-13
5-Nov-13
6-Nov-13
7-Nov-13
8-Nov-13
11-Nov-13
12-Nov-13
13-Nov-13
14-Nov-13
18-Nov-13
19-Nov-13
20-Nov-13
21-Nov-13
22-Nov-13
25-Nov-13

28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13
28-Nov-13

CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE
CE

600
600
600
600
600
600
600
600
600
600
600
600
610
610
610
610
610
610
610
610
610
610
610
610
610
610
610
610
610
610
610
620
620
620
620
620
620
620
620
620
620
620
620
620
620
620
620

20.9
29
28.35
15.05
21.25
16.85
8.05
4.25
3
2
0.3
0.25
18.8
0
17.2
12.2
23.35
15
17.3
18.9
22.95
24.5
13
16.05
13
6.75
3
0.55
1.35
0.25
0.05
16
20
16.1
10.15
17.95
11
15.45
12.1
17.45
18
11
10.5
8.2
4.35
1.5
1.3

24.5
34.5
28.45
21.9
22.15
18.6
8.6
4.25
3.2
4.2
0.45
0.35
21.85
0
17.2
22.9
23.5
21.05
18.7
20.25
28.85
25.2
16.15
16.45
13
6.75
3
1.4
1.35
0.4
0.05
17.3
20
16.1
18.5
19.3
16.25
15.45
15.1
22.95
19.95
11.8
12
8.8
4.7
1.85
1.3

20.9
24
16.5
14.2
16.05
10.05
3.65
2.1
1.7
0.6
0.1
0.05
18.8
0
13.4
12
18.85
14
15
16.9
3.65
12.3
10.45
11.25
6.45
2.6
1.35
0.55
0.55
0.15
0.05
14.75
19.7
10
8.9
13.75
11
11.15
12.1
14.8
9
7.1
7.5
4.5
2
0.8
0.35

0.25
0.15
0.1

0.7
0.25
0.1

0.25
0.05
0.05

Q3

# Underlying value on the day of ex

570.8

# Therefore, all contracts selected o

590, 600, 610, 620) become OTM o
hence trade on 0 as can be verified fr
K77 and K96

Q2

30
25
20
15
10

ITM X= 580

6-Nov-13

5
5-Nov-13

620
620
620

4-Nov-13

CE
CE
CE

3-Nov-13

28-Nov-13
28-Nov-13
28-Nov-13

2-Nov-13

26-Nov-13
27-Nov-13
28-Nov-13

1-Nov-13

SUNPHARMA
SUNPHARMA
SUNPHARMA

Close

LTP

32.30
32.30
32.30
32.30
32.30
32.30
32.30
43.50
43.50
43.50
43.50
43.50
43.50
11.65
8.05
8.95
4.10
1.95
0.15
29.45
29.45
29.45
31.25
31.25
31.25
31.25
31.25
31.25
31.25
31.25
31.25
31.25
7.30
4.95
3.25
1.75
0.65
0.05
24.70
24.70
18.60
24.50
23.70
23.65
20.05

0
0
0
0
0
0
0
43.5
43.5
43.5
43.5
43.5
43.5
13
7.95
7.6
2.8
1.65
0.25
0
0
0
31.25
31.25
31.25
31.25
31.25
31.25
31.25
31.25
31.25
31.25
6.9
5
3
1.5
0.5
0.05
24.7
24.7
19
24.5
23.6
24.55
21.5

Settle
Price
38.5
41.15
28.65
35.2
36.7
32.65
27.1
43.5
34.7
27
34.6
30
22.2
11.65
8.05
8.95
4.1
1.95
0
32
34.2
23.05
31.25
30
26.2
20.95
21.05
27.3
20.4
26.6
22.3
15.4
7.3
4.95
3.25
1.75
0.65
0
24.7
27.95
18.6
24.5
23.7
23.65
20.05

No. of
Turnover
contracts in Lacs
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
3.12
0
0
0
0
0
0
0
0
0
0
49
145.15
159
467.26
52
152.89
117
344.08
92
267.7
89
258.35
0
0
0
0
0
0
6
18.54
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
109
326.04
48
142.79
35
103.97
104
309.6
41
121.05
33
97.39
2
6.25
0
0
43
133
266
830.25
40
125.41
56
174.6
41
127.22

Open Int
0
0
0
0
0
0
0
500
500
500
500
500
500
12500
29500
26500
41000
58500
50000
0
0
0
2000
2000
2000
2000
2000
2000
2000
2000
2000
2000
21000
25000
28500
43000
41500
38500
2500
2500
15000
29000
24000
25000
29500

Change in
OI
0
0
0
0
0
0
0
500
0
0
0
0
0
12000
17000
-3000
14500
17500
-8500
0
0
0
2000
0
0
0
0
0
0
0
0
0
19000
4000
3500
14500
-1500
-3000
0
0
12500
14000
-5000
1000
4500

Underlying
Value
604.6
609.9
591.85
602.4
605.8
601.45
596.1
597.95
608.1
598.75
610.75
606.15
597.15
581.15
574.95
580.85
572.9
570.15
570.8
604.6
609.9
591.85
602.4
605.8
601.45
596.1
597.95
608.1
598.75
610.75
606.15
597.15
581.15
574.95
580.85
572.9
570.15
570.8
604.6
609.9
591.85
602.4
605.8
601.45
596.1

22.00
25.20
17.35
21.25
16.90
10.75
4.35
2.70
2.50
0.75
0.25
0.20
21.00
21.00
14.60
19.60
19.70
18.35
16.05
17.25
20.75
13.15
15.55
12.40
6.95
3.20
1.40
1.05
0.70
0.20
0.05
16.70
19.70
10.75
15.30
14.45
14.30
12.10
13.30
16.65
9.50
11.15
8.20
4.60
2.45
1.00
0.55

22.5
26.1
16.9
21.8
16.85
10.7
4.5
2.75
2.05
0.7
0.25
0.2
21
21
14.4
20
20.5
19
15.95
17.3
21.5
13.1
15.95
12.55
6.85
3.3
1.7
1
0.7
0.2
0.05
16.7
19.7
11.2
15.5
15
14
12.2
13.6
17.95
9
11.8
8.2
4.5
2.6
1
0.45

22
25.2
17.35
21.25
16.9
10.75
4.35
2.7
2.5
0.75
0.25
0
21
22.5
14.6
19.6
19.7
18.35
16.05
17.25
20.75
13.15
15.55
12.4
6.95
3.2
1.4
1.05
0.7
0.2
0
16.7
19.7
10.75
15.3
14.45
14.3
12.1
13.3
16.65
9.5
11.15
8.2
4.6
2.45
1
0.55

97
218
464
304
28
78
274
108
63
74
31
17
11
0
21
76
35
55
122
145
325
167
123
63
95
64
41
30
22
4
4
39
2
81
187
98
76
103
99
927
423
293
196
169
158
103
45

302.13
685.81
1445.05
940.91
86.64
239.12
829.69
325.5
189.78
222.9
93.04
51.01
34.68
0
65.65
239.43
110.54
172.76
382.46
455.57
1029.71
522.86
383.83
196.35
293.84
196.43
125.43
91.65
67.2
12.21
12.2
124.02
6.4
256.02
594.26
312.22
240.95
325.82
313.77
2961.88
1337.51
923.26
617.04
529.28
491.87
319.94
139.64

43500
34500
63500
45500
43500
53500
110000
114500
113500
107500
104000
97500
3500
3500
10000
15500
14500
23000
59500
98000
37000
55500
49000
61500
72500
80000
79000
71000
66000
65000
64000
33500
33500
60500
73000
81000
95000
103000
115000
146500
212500
188500
193000
204500
212500
187000
174000

14000
-9000
29000
-18000
-2000
10000
56500
4500
-1000
-6000
-3500
-6500
3000
0
6500
5500
-1000
8500
36500
38500
-61000
18500
-6500
12500
11000
7500
-1000
-8000
-5000
-1000
-1000
10500
0
27000
12500
8000
14000
8000
12000
31500
66000
-24000
4500
11500
8000
-25500
-13000

597.95
608.1
598.75
610.75
606.15
597.15
581.15
574.95
580.85
572.9
570.15
570.8
604.6
609.9
591.85
602.4
605.8
601.45
596.1
597.95
608.1
598.75
610.75
606.15
597.15
581.15
574.95
580.85
572.9
570.15
570.8
604.6
609.9
591.85
602.4
605.8
601.45
596.1
597.95
608.1
598.75
610.75
606.15
597.15
581.15
574.95
580.85

0.30
0.25
0.05

0.25
0.2
0.05

0.3
0.25
0

64
39
12

198.55
120.92
37.2

161000
142500
140000

-13000
-18500
-2500

Q1

lying value on the day of expiry (28 Nov) =

570.8

Lot Size = 50

re, all contracts selected on day 1 ( X = 580,

0, 610, 620) become OTM on 28th Nov and
e on 0 as can be verified from K20, K39, K58,
K77 and K96

ITM X= 590

ATM X = 600

OTM X= 610

OTM X=620

28-Nov-13

27-Nov-13

26-Nov-13

25-Nov-13

24-Nov-13

23-Nov-13

22-Nov-13

21-Nov-13

20-Nov-13

19-Nov-13

18-Nov-13

17-Nov-13

16-Nov-13

15-Nov-13

14-Nov-13

13-Nov-13

12-Nov-13

11-Nov-13

10-Nov-13

9-Nov-13

8-Nov-13

7-Nov-13

6-Nov-13

Time Value Vs Time

572.9
570.15
570.8

Type as on day 1 of
expiry series
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ITM
ATM
ATM
ATM
ATM
ATM
ATM
ATM

Intrinsic Value

Time Value

24.6
29.9
11.85
22.4
25.8
21.45
16.1
17.95
28.1
18.75
30.75
26.15
17.15
1.15
0
0.85
0
0
0
14.6
19.9
1.85
12.4
15.8
11.45
6.1
7.95
18.1
8.75
20.75
16.15
7.15
0
0
0
0
0
0
4.6
9.9
0
2.4
5.8
1.45
0

13.9
11.25
16.8
12.8
10.9
11.2
11
25.55
6.6
8.25
3.85
3.85
5.05
10.5
8.05
8.1
4.1
1.95
0
17.4
14.3
21.2
18.85
14.2
14.75
14.85
13.1
9.2
11.65
5.85
6.15
8.25
7.3
4.95
3.25
1.75
0.65
0
20.1
18.05
18.6
22.1
17.9
22.2
20.05

ATM
ATM
ATM
ATM
ATM
ATM
ATM
ATM
ATM
ATM
ATM
ATM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM
OTM

0
8.1
0
10.75
6.15
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.75
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

22
17.1
17.35
10.5
10.75
10.75
4.35
2.7
2.5
0.75
0.25
0
21
22.5
14.6
19.6
19.7
18.35
16.05
17.25
20.75
13.15
14.8
12.4
6.95
3.2
1.4
1.05
0.7
0.2
0
16.7
19.7
10.75
15.3
14.45
14.3
12.1
13.3
16.65
9.5
11.15
8.2
4.6
2.45
1
0.55

OTM
OTM
OTM
Q4

0
0
0

0.3
0.25
0

Long Call Pay off (X= 600, Remains

Unexercised)
Long Call Loss (Premium Amt lost)

-1235

Short Call Profit (Premium Amt gained)

1235

Call Bull Spread Payoff (X = 600 ATM & X

=610 OTM), Both unexercised.

1734

Q5

Holding a stock
Initial Price= 4*50*604.6 = INR 120920
Final Price= 4*50*570.8= INR 114160
Loss in Equity= 6760

Strategy
Short 6 lot of ATM Call options at X = 600
Premium gain (as option remians unexercised)= 6*50*24.7 = 7410
Gain/loss = 7410- 6760 = INR 650

Q6

Date
1-Nov-13
3-Nov-13
5-Nov-13
6-Nov-13
7-Nov-13
8-Nov-13
11-Nov-13
12-Nov-13
13-Nov-13
14-Nov-13
18-Nov-13
19-Nov-13
20-Nov-13
21-Nov-13
22-Nov-13
25-Nov-13
26-Nov-13
27-Nov-13
28-Nov-13
620

Future Price
610.65
613.3
597.65
608.1
610.25
606.8
601.95
603.8
613.3
603.25
613.7
609.05
599.3
583.65
577.35
582.85
575.1
571.05
570.8

27-Nov-13

25-Nov-13

23-Nov-13

21-Nov-13

19-Nov-13

17-Nov-13

15-Nov-13

13-Nov-13

11-Nov-13

9-Nov-13

7-Nov-13

5-Nov-13

3-Nov-13

1-Nov-13

620

610

600

590

580

570

560

550

540

Spot Price
604.6
609.9
591.85
602.4
605.8
601.45
596.1
597.95
608.1
598.75
610.75
606.15
597.15
581.15
574.95
580.85
572.9
570.15
570.8

Future Prices

27-Nov-13

Spot Prices