Options Trading Mock Test: 100 Questions with Answers
100 questions for anyone preparing for an options trader, options analyst or derivatives desk interview: strategies and payoffs, the Greeks, volatility, Nifty open interest, risk, backtesting and SEBI rules. Every example uses Nifty at 23,000 and a lot of 65. Submit to see your score by topic and the working behind every answer.
Questions follow a real "Options Expert" job description. Prices come from the Black-Scholes model used on the Option Strategies course (IV 14%, 30 days), not from the live market. 70% is our suggested target; there is no official pass mark.
| Topic | Questions here |
|---|---|
| Basics and pricing | 12 |
| Strategies and payoffs | 22 |
| The Greeks | 16 |
| Volatility | 14 |
| Nifty OI and market reading | 10 |
| Risk management | 10 |
| Backtesting, logs and automation | 8 |
| Rules, costs and markets | 8 |
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About this options trading test
The questions follow the topics in a real job description for an options expert at a Mumbai trading firm: spreads, straddles, strangles, iron condors, covered and naked options, the Greeks, implied versus historical volatility, the volatility surface, Nifty open interest and technical indicators, risk, backtesting, trade logs, automation, SEBI rules and the difference between Indian and US markets.
Every price in a question comes from the same model as the Option Strategies course, where you can open each strategy in a live payoff chart. Read the course first, take this test, then reopen the topics you missed. The questions were written for this page; none is copied from NISM or a question bank.
Common questions
Is this options mock test free?
Yes. All 100 questions, the timer, the score by topic and the explanations are free, with no sign-up.
What topics does the options trading test cover?
Basics and pricing, strategies and payoffs, the Greeks, volatility, Nifty open interest, risk management, backtesting and automation, and SEBI rules with US versus Indian markets.
Is this the NISM Series VIII test?
No. It is an independent practice test aimed at options trading interviews. It overlaps with NISM derivatives topics, but the questions are original and the syllabus is not NISM's.
Are the option prices real?
No. They come from the Black-Scholes model with Nifty at 23,000, 14% IV and 30 days, so every number can be checked. Live premiums will differ.