NSE option chain simulator

PaperTrade shows the live NSE option chain and lets you trade it with virtual money. Strikes, bid and ask, implied volatility, delta and open interest are the real ones the market is quoting — what changes is that no order ever reaches an exchange.

What the chain shows

Calls on the left, puts on the right, strikes down the middle, with the at-the-money row marked. Each contract carries its bid, its ask, its implied volatility and its delta, plus open interest so you can see where positions are actually sitting.

You can switch between the strikes near the money and the full chain, and change expiry without reloading anything. Prices come from a live market data connection, so the chain moves while you are looking at it.

Building a position

Tap a contract to load it into the order ticket. Buying and writing are both available — writing an option blocks an estimated margin against your virtual cash, so selling premium feels like it costs something, because it does.

That margin figure is an approximation of about 15% of notional plus the premium received, not an exchange SPAN calculation, and the app says so wherever it appears. It exists to stop the simulator teaching you that writing options is free.

Six option strategies, with what they measured

Long Put, Naked Call, Bear Call Spread, Bear Put Spread, Put Back Spread and Short Synthetic are built for you from the chain in front of you — real strikes, real premiums, the correct lot size. Each card draws the payoff at expiry and states the maximum profit, the maximum loss and the breakevens.

Each also carries what it actually did when we backtested it on ten liquid F&O stocks over two years, next to the base rate: how often the stock simply fell over the same period. Four of the six turned out to be no better than that base rate, and the cards say so. A win rate without its base rate is a horoscope.

What it will not do

It will not place a real order. The broker connection is read-only and the exchange would refuse an order sent with it.

It will not make you profitable. A simulator teaches mechanics — order types, position sizing, how a premium decays into expiry. Real trading adds slippage, partial fills, brokerage, taxes and your own money, and none of those are small.

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