Derivatives, financial securities derived from underlying assets such as stocks, bonds, commodities, currencies, etc., have undergone a significant evolution in the Indian stock market, particularly in the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Initially, they were often avoided due to their perceived complexity and associated risks. However, they have now become an indispensable component of many investors’ portfolios. Derivatives present a variety of money-making opportunities while simultaneously enabling risk minimization in futures and options trading within the stock market ecosystem.