Free and open stock market and financial education
Varsity is an extensive and in-depth collection of stock market and financial lessons created by Karthik Rangappa at Zerodha. It is free and openly accessible to everyone and is one of the largest financial education resources on the web. No signup, no pay-wall, no ads.
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Explore all the open-access Varsity modules that cover the entire spectrum of financial literacy and capital markets; everything from savings and taxation to option strategies and technical analysis.
Recent comments
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Gamma risk yes, especially when there is a very large movement, very close to expiry. However parts of it is offset with theta. Also like I mentioned, its Delta neutral at the time of setting up the position, but it does break down quickly as the mar ...
25 Mar 2026 -
In these straddle case studies, I guess the two legs (Short Call and Short Put) don't hedge each other’s risk. There appears to be both volatility and gamma or directional risk. ...
24 Mar 2026 -
I agree, and I think I have clarified this across a few places in the comments, unfortunately dont remember where exactly. All these strategies are 'delta neutral', at the time of initiating the trade, but is not delta neutral as the market ...
24 Mar 2026 -
Hi, I’m a complete beginner (don’t have an F&O account yet) — thanks for the content. I’ve gone through this module twice. Initially, I saw the case studies (2 and 3) as delta-neutral, limited-risk strategies while learning the Gr ...
23 Mar 2026 -
YOu can check this - https://zerodha.com/varsity/module/risk-management/ ...
23 Mar 2026
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