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📊 Options & FuturesAdvanced

Options & Futures Essentials — 25 Questions

Test your knowledge of options contracts, futures, the Greeks, hedging strategies, and derivatives fundamentals.

📝25 questions
🔤15 multiple choice
✅10 true / false
1 / 15
Multiple Choice

An options contract gives the buyer:

About This Quiz

The Options & Futures Quiz covers derivatives trading fundamentals including options contracts, futures obligations, the Greeks (Delta, Gamma, Theta, Vega), implied volatility, hedging strategies, and exchange-traded instruments on the CME and NSE.

Topics Covered

  • ✓Call and Put options: rights vs obligations
  • ✓Options premium, intrinsic value, and time value
  • ✓The Greeks: Delta, Theta, Vega, Gamma, Rho
  • ✓Implied volatility (IV) and its effect on pricing
  • ✓Futures contracts and margin requirements
  • ✓Hedging with options: covered calls, protective puts
  • ✓Expiry, settlement, and exercise mechanics

💡 How This Quiz Works

  1. You'll receive 15 randomly selected questions from the full bank of 25.
  2. Answer each question and get instant feedback with a detailed explanation.
  3. Track your correct and wrong answers in real time with the live score counter.
  4. When you finish, review all your answers with the correct options highlighted.
  5. Hit "Try Again" for a fresh set of random questions — no two sessions are the same.

Questions in This Quiz

This quiz contains 25 questions on Options & Futures. A random selection of 15 is presented each time you play.

  1. An options contract gives the buyer:
  2. A "Call option" gives the holder the right to:
  3. A "Put option" becomes more valuable when:
  4. The price paid to buy an options contract is called:
  5. "Theta" in options measures:
  6. An option is "in the money" (ITM) when:
  7. Futures contracts are:
  8. "Delta" in options trading measures:
  9. A "covered call" strategy involves:
  10. IV stands for:
  11. When implied volatility (IV) increases, all else equal, option premiums:
  12. A "straddle" involves:
  13. US exchange-traded futures are primarily traded on:
  14. The "expiry date" of an options contract is:
  15. "Vega" measures an option's sensitivity to:
  16. Selling a naked (uncovered) call option exposes the seller to theoretically unlimited risk.
  17. Options can only be used to speculate, not to hedge existing positions.
  18. A futures contract requires a margin deposit but not the full notional contract value.
  19. A long options buyer can never lose more than the premium they paid.
  20. IV typically spikes higher during periods of market fear or uncertainty.
  21. The "Greeks" in options trading (Delta, Gamma, Theta, Vega, Rho) measure different dimensions of price risk.
  22. A long put and a long call have identical profit-and-loss profiles.
  23. Commodity futures are used by producers (e.g., farmers) and consumers to lock in prices and reduce uncertainty.
  24. All options contracts expire worthless if held to expiration.
  25. Higher implied volatility generally makes options more expensive to buy.