Finch
A derivatives course for people who have never traded an option, taught on today's market. Every chapter pulls the live NIFTY chain, straddle and greeks from the same feed the Finostat terminal runs on — so the examples are real, and they change while you read.
Start here: what F&O is and how to use Finch
Derivatives in one page, why retail traders lose, how this course is built on today's live market, and what you'll be able to do by the end.
Read →CHAPTER 02 · foundationDerivatives 101: forwards, futures and options
The three contracts, the difference between an obligation and a right, and the vocabulary — underlying, expiry, lot, margin — you will use every day.
Read →CHAPTER 03 · foundationFutures: price, basis, margin and mark-to-market
Why the future trades above spot, what basis tells you, how SPAN margin and daily settlement work, and the arithmetic of a one-lot NIFTY futures trade.
Read →CHAPTER 04 · foundationOptions basics: calls, puts, moneyness and what a premium is made of
Calls and puts from both sides, in/at/out-of-the-money, intrinsic versus time value, and the live NIFTY chain to see it all in real prices.
Read →CHAPTER 05 · foundationReading the option chain: LTP, OI, IV, PCR and what the market is telling you
Every column of an option chain explained, how to find support and resistance from open interest, what the put-call ratio does and doesn't mean, and the live NIFTY chain to practise on.
Read →CHAPTER 06 · coreOption pricing: what drives a premium, and the expected move hidden in the straddle
The five inputs to an option's price, Black-Scholes in plain language, why time decay accelerates, and how to read the market's forecast off the live ATM straddle.
Read →CHAPTER 07 · coreThe Greeks: delta, gamma, theta and vega, with live numbers
What each Greek measures, how to use it before you trade rather than after, and the live ATM greeks so you can see the sizes on today's market.
Read →CHAPTER 08 · coreImplied volatility: the price of fear, India VIX, skew and vol crush
What IV actually is, how it differs from realised volatility, how to tell if options are cheap or expensive today, and why buying before events is so often a losing trade.
Read →CHAPTER 09 · coreExpiry and settlement: cash vs physical, the STT trap, and expiry-day behaviour
What happens to your position when the contract dies, why in-the-money stock options can cost you lakhs in delivery, the STT rule that ambushes small profits, and how the last hours actually trade.
Read →CHAPTER 10 · appliedStrategies for beginners, priced live: spreads, straddles, condors and butterflies
Eight structures you will actually use, each with the view it expresses, its risk shape, and its real cost on today's NIFTY chain — with one click to open it in the builder.
Read →CHAPTER 11 · appliedRisk and position sizing: the part that decides whether you're still here in a year
Worst-case sizing, why margin is the wrong yardstick, stops that work for options and ones that don't, liquidity, events, and a pre-trade checklist.
Read →CHAPTER 12 · appliedThe mistakes everyone makes once, and a glossary
Twelve beginner errors with the reason each one costs money, and a working glossary of every term used in Finch.
Read →Finch is education, not advice. Every number marked live is today's real market, which is exactly why the examples will not match what you read yesterday. Derivatives can lose more than you put in; nothing here is a recommendation to trade. Finostat is not affiliated with NSE, BSE, MCX or SEBI.