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SENSEX Straddle Option Strategy

SENSEX Straddle Option Strategy

Updated: 28 Apr, 2025 | 15:59 IST
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Bid / Ask
B/E
sortExpiry:
29 Apr '25
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StrikeTotal BidTotal AskAvg IV
79,500

849.80

866.40

18.49

79,600

773.40

791.00

17.76

79,700

705.10

721.40

17.22

79,800

642.15

656.60

16.56

79,900

589.00

599.60

16.36

80,000

539.45

549.05

15.64

80,100

511.70

520.30

15.10

80,200

492.50

505.25

14.98

80,218.37
80,300

497.85

507.05

14.80

80,400

514.60

527.70

15.12

80,500

553.50

566.75

14.97

80,600

599.85

618.95

15.75

SENSEX - Statistics

SENSEXopen link
₹80,218.37
+1005.84 (1.27%)
Day Range
₹79,341.35 - ₹80,321.88
52w Range
₹70,234.43 - ₹85,978.25

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Understanding the SENSEX Option Chain

The Sensex option chain is a valuable tool for traders and investors looking to analyse and trade all futures and options (F&O) stocks on the S&P BSE Sensex, India's benchmark stock market index. This tool provides a structured view of all available call and put options for the index, allowing traders to assess market sentiment, volatility, and key support and resistance levels. The Sensex option chain also contains details of strike prices and expiry dates. This helps in making informed trading decisions by presenting real-time data such as open interest, trading volume, implied volatility and strike prices. The strike prices and expiry dates offer traders the flexibility to plan options trading strategies as per their financial goals and risk appetite. On the other hand, the real-time data on open interest and volumes helps in assessing the market trends and potential price movements.


The Sensex Option Chain is primarily tied to the BSE Sensex index and helps traders to make informed decisions based on real-time data across multiple metrics.

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Frequently Asked Questions

How do you calculate the breakeven points for a straddle?chevron-up

The first breakeven point for a straddle is calculated by taking the strike price and adding the combined cost of the call and put option. The second breakeven point is calculated by subtracting the combined cost of the call and put option from the strike price. The underlying needs to move either above the first breakeven point or below the second breakeven point in order to make a profit.

What is a straddle and when should you trade it?chevron-up

A straddle is an option-trading strategy that involves simultaneously buying both a call option and a put option for the same underlying asset at the same strike price and expiration date. Straddles are used by traders to profit from price movements in either direction and to take advantage of a lack of directional bias in the underlying asset. The best time to trade a straddle is when the market is showing uncertainty and the trader is expecting a large price move in either direction. Traders can also profit from straddles if the implied volatility of the underlying increases dramatically because this an increase in IV will increase the value of the straddle.

What is the difference between total bid price and total ask price for a straddle?chevron-up

Total bid price and total ask price for a straddle refer to the buying and selling prices of the option strategy. The total bid price is the combined bid price of the call and put option for the particular strike. This is the best price that someone in the market is willing to pay for this strategy. If you are selling a straddle, the ‘Total Bid Price’ is the price that you would receive
The total ask price is the combined ask price of the call and put option for the same strike. It represents the lowest price that a seller in the market is willing to accept for this strategy. If you want to buy a straddle, the ‘Total Ask Price’ is the price that you would have to pay. The difference between the two prices is called the bid-ask spread. The spread represents the cost of trading in the options market, and it is typically small for liquid options.

How can straddles be used to understand how much an underlying could potentially move?chevron-up

In order for a trader to break-even on a straddle, the underlying will need to move a certain amount - either up or down. If traders in the market believed that the underlying would move more than this break-even amount, then they would buy straddles. Buying straddles would put upward pressure on the price leading to a higher breakeven amount. Alternatively, if traders in the market believed that the underlying would move less, then they would sell straddles. This would lower the price of straddles and lower the breakeven amount. Because of this, at any point in time, you can look to the price of a straddle to get the "market implied" move for the underlying security.