Option Chain Simulator (theoretical)
See how option prices and Greeks change across strikes. Pick an underlying (the spot price loads automatically), set days to expiry and implied volatility, and the simulator lays out a chain in the familiar NSE format — calls on the left, puts on the right.
Model prices, not live quotes. Every number in this chain comes from the Black-Scholes model using the implied volatility you enter. There is no open interest, volume, or bid/ask, and real NSE premiums will differ — sometimes a lot, because the market prices a different volatility at each strike. For the real chain, use NSE or your broker. New to chains? Read how to read an NSE option chain.
How to read the chain
Each row is one strike price. The left half shows the call option at that strike and the right half the put. Strikes below the current spot make calls in the money (they could be exercised for a profit today) and puts out of the money; strikes above the spot do the opposite. The row closest to the spot is at the money and is outlined.
Why Delta changes across strikes
Delta is roughly how much an option's price moves for a one-point move in the underlying. Deep in-the-money calls behave almost like the underlying itself, so their Delta is close to 1; far out-of-the-money calls barely react, so their Delta is close to 0. At the money, a call's Delta sits near 0.5. Put Deltas mirror this between 0 and −1. Gamma — how fast Delta changes — is highest around the at-the-money strike and grows as expiry approaches, which is why near-expiry ATM options can swing sharply.
What the straddle tells you
Buying both the at-the-money call and put is called a straddle. Its combined price is a common rough gauge of how big a move the option prices are building in by expiry, in either direction. Divide it by the spot and you get that move as a percentage. With this simulator, the figure simply reflects the volatility you typed in — change the volatility and watch it change.
Limits of the model
Black-Scholes assumes one constant volatility, European-style exercise, and no dividends, and it ignores trading costs. Real markets price a different implied volatility at different strikes (the "smile" or "skew"), so actual premiums away from the money often differ from these model values. Use the simulator to understand how the pieces fit together, not to value a real trade. For one strike in detail, use the Option Greeks calculator.