What is call & put option in bank nifty?

Bank Nifty is an index comprising of 12 public and private sector banks. The lot size for Bank Nifty Options is 40. In a Bank Nifty option, the Bank Nifty index is the underlying asset. You can trade in Bank Nifty as you would do in any other index or single stock option.

A call option in Bank Nifty gives you the same right, as any other option, to buy the underlying at a specified price and with a specified time period. The same holds for a Put option in Bank Nifty.

You buy a Bank Nifty Call Option when you are bullish on the market and buy a Bank Nifty Put Option when you expect the price of the underlying to go downward.