How do I trade options?

Options contracts can be traded through brokerage firms that are members of the NSE and BSE. Most trading members nowadays offer online and mobile trading platforms for options trading. You need to open an account with one of the brokerage firms and complete the formalities like registration, KYC, etc. Make sure that the brokerage firm you open your account with allows options trading, as some firms either don't allow options trading or allow only certain types of options trading, such as stock options, but not commodity and currency options. You will receive a client ID, and password with which you can log in to the online, web and mobile platforms. You will also be required to make a margin deposit and your bank account will be linked to your trading account to facilitate funds transfer. The company will also open a demat account. Trading options is as easy as trading stocks - Log in to the website/application. Click on the Place Order tab. Find the option you want and select it. Enter details such as exchange, expiration date, lot size, order type, etc. and place the order. Congratulations, your order has been placed.