What does call and put option in bank nifty mean ?

Bank Nifty is an index that includes 12 banks from both the public and private sectors. Bank Nifty Options has a lot size of 40. The underlying asset in a Bank Nifty option is the Bank Nifty Index. Bank Nifty can be traded in the same way as any other stock or index.

You have the right to purchase the underlying at a specific price and for a certain time period with a Bank Nifty call option. The same applies to a Put option in Bank Nifty.

If you are bullish about the market, you can buy a Bank Nifty Call Option and a Bank Nifty Put Option if you expect the price to fall.