4 10Time to Expiration 0.0109589041 Time to Expiration 0.02739726 Time to ExpirationExercise Price $7,900.00 Exercise Price $7,800.00 Exercise PriceCurrent Stock Price $7,910.00 Current Stock Price $7,750.00 Current Stock PriceVolatility 11.87% Volatility 17.35% VolatilityRisk-Free Rate 10.00% Risk-Free Rate 10.00% Risk-Free Rate

d1 0.1961825729 d1 -0.1142032 d1d2 0.1837546638 d2 -0.142915 d2N(d1) 0.5777663661 N(d1) 0.45453837 N(d1)N(d2) 0.5728970383 N(d2) 0.44317866 N(d2)Call Option Value $49.20 Call Option Value $75.34 Call Option Value Intrinsic Value $10.00 Intrinsic Value $0.00 Intrinsic Value

$39.20 Speculative Prem. $75.34 Speculative Prem.Put Option Value $30.55 Put Option Value $104.00 Put Option Value Intrinsic Value $0.00 Intrinsic Value $50.00 Intrinsic Value Speculative Prem. $30.55 Speculative Prem. $54.00 Speculative Prem.

Call CallDelta 0.5778 Delta 0.4545Gamma 0.0040 Gamma 0.0018Theta -2207.3067 Theta -1954.2788Vega 324.0505 Vega 508.4324Rho 49.544432255 Rho 94.4475583

Put PutDelta -0.4222 Delta -0.5455Gamma 0.0040 Gamma 0.0018Theta -1418.1720 Theta -1176.4128Vega 324.0505 Vega 508.4324Rho -36.936085091 Rho -118.6664

16Time to Expiration 0.043836 December 31st ExpiryExercise Price $72.50 Goal Seek NIFTY NIFTY NIFTY BankNIFTYCurrent Stock Price $70.30 CE CE CE CE

35.65% Strike Price 7900 7700 7650 17400Risk-Free Rate 10.00% Volatility 15.62 17.16 17.48% 18.60%

Risk Free Rate 10.00% 10.00% 10.00% 10.00%-0.316817-0.3914530.3756910.347731

Call Option Value $1.31 Intrinsic Value $0.00 Speculative Prem. $1.31Put Option Value $3.19 Intrinsic Value $2.20 Speculative Prem. $0.99

CallDelta 0.3757Gamma 0.0723Theta -25.2171Vega 5.5845Rho 1.100285

PutDelta -0.6243Gamma 0.0723Theta -17.9988Vega 5.5845Rho -2.063896

Black-Scholes Option Pricing Model27 13

Time to Expiration 0.073973 Time to Expiration 0.035616 Time to ExpirationExercise Price $8,400.00 Exercise Price $180.00 Exercise PriceCurrent Stock Price $7,975.00 Current Stock Price $169.00 Current Stock PriceVolatility 15.16% Volatility 37.89% VolatilityRisk-Free Rate 7.66% Risk-Free Rate 3.00% Risk-Free Rate

d1 -1.101176 d1 -0.831186 d1d2 -1.142408 d2 -0.90269 d2N(d1) 0.13541 N(d1) 0.202934 N(d1)N(d2) 0.126642 N(d2) 0.183345 N(d2)Call Option Value $22.11 Call Option Value $1.33 Call Option Value Intrinsic Value $0.00 Intrinsic Value $0.00 Intrinsic Value Speculative Prem. $22.11 Speculative Prem. $1.33 Speculative Prem.Put Option Value $399.65 Put Option Value $12.14 Put Option Value Intrinsic Value $425.00 Intrinsic Value $11.00 Intrinsic Value Speculative Prem. -$25.35 Speculative Prem. $1.14 Speculative Prem.

Call Call CallDelta 0.1354 Delta 0.2029 DeltaGamma 0.0007 Gamma 0.0234 GammaTheta -564.6017 Theta -48.8991 ThetaVega 471.9173 Vega 9.0074 VegaRho 78.24703 Rho 1.174163 Rho

Put Put PutDelta -0.8646 Delta -0.7971 DeltaGamma 0.0007 Gamma 0.0234 GammaTheta 75.2027 Theta -43.5049 ThetaVega 471.9173 Vega 9.0074 VegaRho -539.6119 Rho -5.229949 Rho

140.038356 December 31st Expiry

$380.00 NIFTY NIFTY BOB Lupin$354.00 CE CE PE CE49.17% Goal Seek 7900 8400 180 185010.00% Volatility 15.62 15.16 37.89% 27.09%

Risk Free 7.66 7.66 7.66 7.66-0.647947-0.744253

0.258510.228362

$5.07$0.00$5.07

$29.61$26.00

$3.61

0.25850.0095

-152.370922.4215

3.315708

-0.74150.0095

-114.516322.4215

-11.20384

1BS OPM