Free Option Simulator 2026 — Nifty, Sensex, Bank Nifty & F&O Stock Options
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Option Simulator for Nifty, Sensex, Bank Nifty & F&O Stocks
A payoff diagram tells you what a position is worth at expiry. It tells you nothing about the fortnight in between — the theta that bleeds every quiet session, the volatility crush after an event, the gamma that turns a comfortable short straddle into a margin call in ninety minutes. An option simulator fills that gap: you build the position on real traded prices, then move the clock forward and watch it live through the session.
Every index that still has a weekly expiry
The simulator covers seven indices — Nifty, Bank Nifty, Sensex, Bankex, FinNifty, Midcap Nifty and Nifty Next 50 — plus more than 200 NSE F&O stocks. That coverage matters more than it used to. Since SEBI's derivatives overhaul, each exchange offers weekly contracts on only one benchmark: NSE on Nifty, BSE on Sensex. Bank Nifty, FinNifty and Midcap Nifty weeklies are gone, leaving monthly expiries. A simulator limited to NSE indices simply cannot rehearse half of the weekly-expiry market that active traders now use.
Two expiry days a week — Tuesday and Thursday
NSE contracts now expire on Tuesday and BSE contracts on Thursday, so a trader running both indices faces two expiry days every week instead of the old single-day scramble. Expiry sessions are where option positions behave least like the textbook: premium decays in steps rather than smoothly, gamma dominates delta in the final hours, and a stop-loss placed on premium can be triggered by a spike that fully reverses within minutes.
Simulating those sessions is the cheapest preparation available. Jump to a past Tuesday expiry, sell the ATM Nifty straddle at the time you normally enter, set your stop, and step forward minute by minute. Then repeat it on a past Thursday Sensex expiry — a different index, a different lot size, a different rhythm. The two rarely behave the same way, which is exactly why rehearsing only one of them leaves a blind spot.
What you can build
- Any structure. Long and short calls, puts and futures in any combination — spreads, straddles, strangles, iron condors, iron flies, butterflies, jade lizards, calendars and ratio spreads.
- Ready-made templates. Load a complete multi-leg strategy in one click, then adjust strikes and lots instead of building from scratch.
- Live Greeks. Delta, gamma, theta, vega and IV per strike and aggregated across the position, so you can see a delta-neutral book drift as the underlying moves.
- Stops and targets. Per-leg or portfolio-wide, with alert-only or automatic square-off, so you find out whether your exit rule would actually have survived the session.
- Mid-trade adjustments. Roll a tested leg, convert a straddle into an iron fly, or square off one side and carry the other.
Reading simulated results honestly
The prices are real, but two frictions are not modelled. First, costs: brokerage, STT and exchange charges quietly consume a large share of high-frequency expiry-day profits, so subtract them before believing any result. Second, liquidity: a far-OTM strike may show a price that barely traded, and the simulator flags illiquid strikes precisely so you learn to distrust those fills. A strategy that only works on strikes nobody trades does not work.
Use the simulator to see how a position behaves through time. When you want to test whether the idea holds up across dozens of historical dates, run it through option backtesting, and shape the structure itself in the strategy builder.
Frequently Asked Questions
What is an option simulator and how does it work?
An option simulator lets you place option trades on real market data without real money. You pick an underlying, a date and a time, build single-leg or multi-leg positions from the option chain, then step the clock forward and watch premiums, Greeks and P&L move exactly as they did in the live session. StockMojo's simulator runs on actual traded NSE and BSE prices — not theoretical model values — so the fills and decay you see are the ones the market really produced.
Which indices can I simulate — is Sensex included?
Yes. The simulator covers seven indices — Nifty, Bank Nifty, Sensex, Bankex, FinNifty, Midcap Nifty and Nifty Next 50 — plus more than 200 NSE F&O stocks. That matters after the 2025 expiry overhaul: weekly options now run only on Nifty at NSE and only on Sensex at BSE, so a simulator that covers just NSE indices leaves out half the weekly-expiry market that active traders now use.
Can I simulate expiry-day trades under the new Tuesday and Thursday cycle?
Yes, and expiry day is where the simulator earns its keep. Since September 2025, NSE contracts expire on Tuesday and BSE contracts on Thursday, so a trader running both indices now has two expiry days a week to prepare for. You can jump to any past expiry session, enter at the exact minute you normally would, and step through the final hours to see how fast premium collapsed, when gamma turned against a short position, and whether your stop would have survived the closing swings.
Is the option simulator free?
The core simulator is free — build positions on any covered index or stock, replay the session minute by minute, and track payoff, margin, Greeks and P&L without paying or connecting a broker. Extended history and saved strategies sit behind a paid plan, but you can simulate complete trades without spending anything.
Do I need a broker account to use the simulator?
No. Nothing you do in the simulator places a real order or touches a demat account, and no broker login is required. That makes it safe to test an idea you are unsure about — sell a Sensex strangle into Thursday expiry, misjudge it completely, and the only cost is what you learn.
Which option strategies can I simulate?
Any combination of long and short calls, puts and futures — directional buys, vertical spreads, straddles, strangles, iron condors, iron flies, butterflies, jade lizards, calendars and ratio spreads. Ready-made templates load a full multi-leg position in one click, and you can add, roll or partially square off legs mid-trade while the payoff chart, margin and Greeks update live.
Does the simulator show Greeks and implied volatility?
Yes. Every strike carries delta, gamma, theta, vega and implied volatility computed for that exact moment in the session, alongside open interest and traded volume. Position-level Greeks aggregate across all legs, so you can watch a delta-neutral structure drift as the underlying moves and decide when it genuinely needs adjusting.
Can I simulate intraday option trades minute by minute?
Yes. The simulator steps in one-minute, five-minute, fifteen-minute, hourly or daily increments, and an autoplay mode runs the session forward on its own. That resolution is what makes intraday work realistic — scalps, momentum entries and expiry-day premium selling all depend on what happened between 9:15 and 15:30, not on the closing price.
How is a simulator different from a strategy builder?
A strategy builder is static: it draws the payoff of a position as it stands today. A simulator is dynamic: it moves time forward so you see the same position gain and lose value session by session, including theta decay, IV shifts and your stop-loss and target triggering. Use the builder to shape the structure, then the simulator to find out how it actually behaves under real prices.
Are simulated results realistic?
They are as realistic as the input data allows, with two caveats worth respecting. Prices are real traded prices, and illiquid strikes are flagged so you can spot fills the market would not have given you. But simulated fills assume you transacted at those prices, and they exclude brokerage, STT, exchange charges and slippage — so subtract realistic costs before judging any strategy, and treat thinly traded strikes with suspicion.
How to use the option simulator
- Choose the underlying — Select Nifty, Sensex, Bank Nifty, Bankex, FinNifty, Midcap Nifty, Nifty Next 50 or any of 200+ F&O stocks.
- Set the date, time and expiry — Jump to any past session and pick the weekly or monthly expiry you trade — NSE weeklies expire Tuesday, BSE weeklies Thursday.
- Build the position — Click buy or sell on strikes in the option chain to add legs, or load a ready-made strategy template. The payoff chart, margin and Greeks update as you build.
- Add stop-loss and target — Attach a stop-loss and target per leg or across the whole portfolio, and choose whether a hit should alert you or square off automatically.
- Step the market forward — Advance the clock one minute, five minutes, an hour or a full day — or use autoplay — and watch premiums, Greeks and P&L evolve exactly as they did live.
- Review and refine — Compare realised P&L against max profit, max loss and breakeven, then re-run on a different session, strike or expiry to see whether the result holds up.