This is a illustrative capture to understand on a major event such as Election results day , how the volatility in the market rises to peak levels . The VIX index which is the fear guage shoots up resulting in increased options premium values.
4June2024 the Indian election results announcement day , results were not as expected by the market which resulted in wild moves initially and a steep down move of up-to 5% in NIFTY50 index. Option Premium rates were almost more than double
It may be noticed NIFTY price movement is almost inversely proportional to VIX.
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