For students of this course

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Every course slide, quiz, case study and resource is gathered on a single page. Open it any time, from any device, and learn at your own pace.

https://live.kundankishore.in/

Tap the button to open everything, or visit the link above any time. This same link sits in the final section of the course, under Resources.

Self-paced options course

Options Tradingmade clear, from the ground up

Every lesson and resource for the course lives right here, in one place. Start at the top, and learn it properly, step by step.

A course by Kundan Kishore

BITS Pilani alumnus, ex ROYAL BANK OF SCOTLAND, Morgan Stanley and Barclays Capital,
who has taught Options and the markets to 2,00,000+ learners.

5 sections · 33 lessons · learn at your pace
Kundan Kishore
2,00,000+learners taught
Before We Begin

We All Carry Misconceptions

Every one of us walks into the market carrying beliefs that feel true but are not. Left alone, they quietly bend everything you learn after. So before the course begins, here is a short quiz to bring those beliefs into the open and set them right.

It is not a test, and there is no score to fear. It only resets your starting point. Ten quick questions, about three minutes.

Index

Course Contents

The full course, in five parts. Open any section to see what is inside.

  1. 01
    Getting Started5 classes→
    Orientation, support, and how to learn here
  2. 02
    Building the Foundation7 topics→
    Markets, options, and the basics from the ground up
  3. 03
    How Options Work8 topics→
    Calls, puts, premium, and expiry mechanics in full
  4. 04
    What Moves Option Prices6 topics→
    The Greeks that move an option's price
  5. 05
    Putting It All Together7 topics→
    Strategy, risk, and your first steps
Section 1

Getting Started

Five short classes that set you up for the course.

  1. 01Why I Made This Course, And Why You Should Complete It
  2. 02How to Ask a Doubt During the Course
  3. 03How to Get Technical Support During the Course
  4. 04Who I Am and Why I Teach This
  5. 05For Those Who Want a Career in Trading and the Markets
Section 1 · Class 1

Why I Made This Course

One number that says it all.

₹0.0 Lakh Cr
What traders lose in the market each year
Burning the nation
vs
₹0.0 Lakh Cr
India's annual education budget
Building the nation
One is building the nation, the other is burning it. That is why I made this course. Once you enroll, make sure you complete it.
Section 1 · Class 2 and 3

How to Get Help

Two kinds of help, two places to write. Reach the right one and the reply comes faster.

Course doubts

Any question about the course content, a strategy, a concept, or a point in any class.

ask@kundankishore.in

Technical help

Anything with the website, the app, login, or a password reset.

support@kundankishore.in
24hMAX I resolve every issue within 24 hours. Kundan Kishore
Section 1 · Class 4

Who I Am

Kundan Kishore
Kundan KishoreFounder and CEO, Wealthian
  1. THE START
    Gaya, Bihar, where the journey began
  2. 2001 TO 2006
    BITS Pilani, engineering
  3. GLOBAL MARKETS
    ROYAL BANK OF SCOTLAND, Morgan Stanley, and Barclays Capital
  4. AROUND 30
    Left corporate life to trade the markets full time
  5. SINCE 2019
    kundankishore.in, teaching 2,00,000+ learners
  6. TODAY
    Founder and CEO, Wealthian
Section 1 · Class 5

Want to Build a Career?

If you want to build a career in options or the capital markets, I am ready to guide you. I have walked this path myself, so I can show you the steps.

  • Where to begin and what to learn
  • How to turn the skill into a serious career
  • Honest guidance, with no false promises
Write to career@kundankishore.in
Section 2

Building the Foundation

Seven short topics that build your foundation, starting from the very beginning.

  1. 01What the Stock Market Is
  2. 02What Trading Is, and How It Differs from Investing
  3. 03What a Derivative and a Contract Mean
  4. 04How Options Differ from Stocks
  5. 05Where to Find Options Details in the Market
  6. 06How Options Traders Make a Profit
  7. 07Why Traders Take Losses, and What to Avoid
Section 2 · Class 1

The stock market exists so businesses can raise money to grow, and so anyone can own a share of that growth.

CAPITAL TO GROW OWNERSHIP AND A SHARE OF PROFITS Investors People with savings STOCK MARKET NSE · BSE Companies Need capital to grow

IPO

New companies list shares to raise capital

Trading

Investors buy and sell shares anytime

Indices

Nifty 50 groups the biggest companies

Derivatives

Futures and options to hedge and trade

Section 2 · Class 2

What Trading Is, and How It Differs from Investing

The passenger

Investing

YOU Someone else drives

Like sitting in a car someone else drives, taking you toward your destination.

The driver

Trading

YOU You own the car and drive

A skill like driving, where you own the car and steer it to your destination yourself.

How they really differ
Years to decades
Horizon
Minutes to weeks
Passive, hands-off
Your role
Active skill
Business fundamentals
Based on
Price action
Compounding and dividends
Returns
Capturing price moves
Different skills, the same destination: financial freedom
Section 2 · Class 3

First, What Is a Contract?

A contract is a promise between two people to complete a deal at a fixed price, within a fixed time.

₹1 Crore Buyer ₹ Seller AGREEMENT
₹1 Crore
The agreed price of the house
₹10 Lakh
A 10% advance, paid to lock the deal
6 months
How long the contract stays valid

Hold on to this idea. We build on it next.

Section 2 · Class 3

Now, What Is a Derivative?

That same contract paper now has its own value, and that value moves with the house price.

The houseThe underlying derives its value The contractThe derivative
↑
↑ If the house rises
₹1 Cr → ₹1.25 Cr
Contract value
₹35 Lakh
₹10 L advance already paid, plus ₹25 L of appreciation
↓
↓ If the house falls
₹1 Cr → ₹75 Lakh
Contract value
Worthless
Nobody pays ₹90 L more for a house worth ₹75 L. Buy from the market instead.
The paper rises and falls with the house. A contract that derives its value from an underlying asset is a derivative contract.
Options are derivative contracts too → that is next
Section 2 · Class 3

So, What Is an Option?

Everything you just learned about the house contract is exactly how an option works.

What it isIn the house dealAs an option
The underlyingThe house→A stock or indexwhat the option is on
The fixed price₹1 Crore→Strike pricethe price you lock in
The token paid₹10 Lakh advance→Premiumwhat you pay upfront
The time limit6 months→Expiryit expires on a fixed date
The rightTo buy the house→Call optionthe right to buy
An option is a derivative contract. It gives the right to buy or sell an underlying at a fixed price, before it expires.
These contracts exist to manage financial risk. If the trade moves against you, you lose only the premium, never the whole amount.

This was the glance. We go deeper from here.

Section 2 · Class 4

Stocks and Options Are Not the Same

They trade in the same market, but a stock and an option are two completely different things.

StockYou own it
  • A share of a real business you own
  • It never expires
  • Hold it for 50 years, pass it to your children
  • Made for investing
OptionIt expires
  • A time-bound contract, a right you hold
  • Expires in weeks, months, or a year
  • Can become worthless at expiry
  • Used to hedge, speculate, or earn income
Most option traders lose for one reason. They trade an option like a stock and hold on while the clock runs out. Same market, two different games. Own a stock for life. Manage an option before it expires.

You can trade both. Each one needs its own skill.

Section 2 · Class 5

Where to Find Options Details in the Market

The market does not trade only shares. Many products trade here, and each one sits in its own section. Options live inside just one of them.

What the market trades

Equities

Company shares

Options are here

Equity Derivatives

Futures and Options

Currency

USD INR and more

Commodity

Gold, crude, metals

Debt

Bonds and G-Secs

Inside Equity Derivatives → Options → all listed in the Option Chain

It all sits in one place, the Option Chain

Every option in the market lives there, strike by strike, with calls, puts and premium in a single view. Learning to read it is what the coming lessons are for.

⚡ Where the maximum volume is, that is where you participate. NIFTY 50 options stay in the top 20 most active almost every day. Heavy volume means easy entry and easy exit.
Section 2 · Class 6

How Options Traders Make a Profit

The traders who win do not guess. They follow a scientific, tested process that most retail traders never see. Here is what it looks like.

What institutions actually do
01

Backtest across markets

With large capital to deploy, they test huge amounts of historical data across segments, instruments and even countries, searching for patterns that stay profitable.

→
02

Validate in a sandbox

The promising pattern is paper traded in a sandbox for several days, to confirm the edge holds in live conditions before any real money is risked.

→
03

Automate the execution

Only then is the strategy automated, so trades fire by rule, with speed and discipline, and without emotion getting in the way.

⚠ Most retail traders skip all three. They act on tips, news and emotion. That gap is the whole story.
Bring this to your own trading

The same method, without the lakhs and crores

You do not need a team of quants or a costly setup. On smaller capital, the very same tested, rule based process is within your reach. Test it first, trade it small, and let discipline, not emotion, decide.

Backtest, then paper trade Trade small, strictly by rule Review honestly, then improve
Section 2 · Class 7

Why Most Option Traders Lose

9 in 10 individual option traders lose money. Even in a rising market, most still lost. The other side of those trades is won by disciplined, automated desks. Source: SEBI study, FY22 to FY24

The problem was never market direction. It is five habits, the same five almost every time. Avoid them, and you are already ahead of most of the market.

1

The lottery-ticket trap

Most retail traders only buy options, usually cheap, far out-of-the-money weekly ones, hoping small money turns into big money. The large majority expire worthless.

Instead, learn when buying truly makes sense, and when a defined-risk spread is the smarter trade.
2

Losing quietly to time decay

An option loses value every single day. You can be right on direction and still lose, as Theta and falling volatility drain the premium, especially after events.

Instead, respect Theta. Understand how time and volatility price an option before you enter.
3

Tips and emotion, no tested edge

Trades are taken on Telegram calls, news and gut feeling, with no plan and nothing backtested.

Instead, trade only a process you have tested. No edge, no trade.
4

Oversized bets and expiry-day gambling

Heavy leverage tempts oversized positions and constant overtrading, especially on expiry day, where a few big losses erase many small wins.

Instead, risk a small fixed amount per trade, and treat expiry as a calculation, not a casino.
5

No risk management at all

No stop loss and no exit plan. Losers are held in hope and averaged down, and selling options naked leaves risk wide open. One trade can end the account.

Instead, define your worst case before entry. Cut losers, never average them.

Every reason here is a habit, not bad luck. Master risk first, and you change which side of that number you stand on.

Section 3

How Options Work

Ab Call aur Put ki poori mechanics, aath chhoti classes mein. Yahi woh core hai jahan options asal mein samajh aate hain.

  1. 01What a Call Option Is, With a Simple Example
  2. 02What a Put Option Is, With a Simple Example
  3. 03Who Buys, Who Sells, and Whose Risk Is Greater
  4. 04What the Premium Is, and What Builds It
  5. 05How Strike Price and Spot Price Relate
  6. 06ITM, ATM and OTM, in Plain Language
  7. 07What Intrinsic Value and Time Value Mean
  8. 08What Expiry Is, Weekly and Monthly
01 / 07
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