The Stock Index Options are options where the underlying asset is
a Stock Index e.g. Options on "Sensex" and Options on Nifty.
Index Options were first introduced by Chicago Board of Options
Exchange (CBOE) in 1983 on its Index "S&P 100".
As
opposed to options on Individual stocks, index options give an investor the
right to buy or sell the value of an index which represents group of stocks.
