Check the table below. You will be surprised, but the Bank Nifty today is more liquid than the Nifty index due to its high correlation with the Nifty and its much lower lot size. The table below captures the gist of the options and futures volumes.

Volumes in (Contracts)

Value in (Rs. In crores)

Symbol

Futures

Options

Total

Futures

Options (Notional)

Total

Options (Premium)

Open Interest

Underlying

(contracts)

BANKNIFTY

188280

6404067

6592347

9872.08

335105.03

344977.11

1155.2

865303

26365.6

NIFTY

230521

3540056

3770577

18296.95

281610.07

299907.02

1453.1

2041014

10628.6

RELIANCE

47954

75485

123439

2658.52

4234.43

6892.95

31.79

136430

1109.75

YESBANK

73152

78532

151684

2383.96

2727.57

5111.53

59.33

125298

191.7

MARUTI

24963

56483

81446

1403.19

3200.64

4603.83

24.58

54663

7565

SBIN

20604

30599

51203

1752.5

2654.83

4407.33

22.75

54214

286.5

ICICIBANK

21704

18687

40391

2119.92

1844.17

3964.09

16.11

64592

356

TATASTEEL

33123

35505

68628

1865.51

2066.89

3932.4

21.43

60098

530.65

TCS

31039

52835

83874

1414.31

2440.67

3854.98

17.71

70898

1846

INFY

24973

22467

47440

1849.79

1696.51

3546.3

13.28

55790

621.2

HDFCBANK

34394

31857

66251

1753.12

1626.62

3379.74

10.26

73928

2050

AXISBANK

20233

23450

43683

1519.71

1776.5

3296.21

17.09

47612

632.35

HDFC

23506

8910

32416

2218.83

846.88

3065.71

5.21

56915

1884.5

HINDUNILVR

9481

14401

23882

981.25

1500.85

2482.1

9.85

17835

1740

BAJFINANCE

22173

13385

35558

1322.97

814.13

2137.1

7.38

37519

2395

SUNPHARMA

17687

18081

35768

1000.67

1063.36

2064.03

11.27

47948

511.05

ASHOKLEY

11783

21931

33714

512.88

996.36

1509.24

7.43

32229

108.9

VEDL

27670

14808

42478

943.56

525.94

1469.5

6.91

32529

195.75

IBULHSGFIN

27875

11861

39736

983.45

442.47

1425.92

6.53

61689

703

DRREDDY

9850

11925

21775

636.79

783.76

1420.55

5.94

20584

2570.55

HINDALCO

8163

10117

18280

619.79

790.65

1410.44

8.82

15877

219.6

LT

12109

14191

26300

648.17

760.81

1408.98

6.45

40292

1421.8

ITC

10088

9749

19837

687.36

675.2

1362.56

5.55

42968

285.5

UPL

10015

4612

14627

925.86

430.21

1356.07

4.48

17293

769.9

TITAN

10777

7919

18696

735.46

541.79

1277.25

4.45

24000

915.85

TATAMOTORS

21182

24738

45920

573.14

695.52

1268.66

8.53

68039

182

AUROPHARMA

9578

5851

15429

756.73

469.08

1225.81

3.88

21010

798.95

KOTAKBANK

8530

4106

12636

796.7

387.31

1184.01

2.65

18492

1168.55

ASIANPAINT

7960

6544

14504

642.14

529.71

1171.85

3.78

12137

1349.55

JSWSTEEL

19412

4546

23958

923.18

224.97

1148.15

2.57

37850

319.65

ARVIND

5363

11426

16789

336.54

753.13

1089.67

4.82

11049

307.25

HEROMOTOCO

7860

10013

17873

472.82

610.75

1083.57

5.22

9656

3096.1

M&M

7304

6918

14222

546.6

526.4

1073

3.46

19345

747.6

JINDALSTEL

17304

11742

29046

623.46

445.82

1069.28

8.4

17983

159.8

TECHM

6033

6569

12602

496.3

558.39

1054.69

4.08

12990

696.2

BHARTIARTL

12488

5460

17948

712.91

311.58

1024.49

3.69

32070

335.6

ADANIPORTS

6919

4284

11203

628.59

390.63

1019.22

3.83

10177

369

BAJAJ-AUTO

7628

7474

15102

501

494.4

995.4

2.59

13013

2644

COALINDIA

12160

5526

17686

667.16

314.87

982.03

3.19

19888

252.05

WIPRO

8665

3570

12235

650.5

271.04

921.54

2.16

13409

319.5

IDEA

16931

13303

30234

479.32

402.82

882.14

6.5

27818

39.8

BANKBARODA

11830

7783

19613

516.08

360.78

876.86

6.12

27426

108.5

SAIL

7859

4068

11927

553.81

300

853.81

4.65

11408

58.1

INDUSINDBK

11227

6893

18120

523.83

324.01

847.84

2.93

25774

1563

SRTRANSFIN

9219

3265

12484

616.51

223.63

840.14

2.85

8482

1107

ZEEL

8320

5435

13755

502.61

333.21

835.82

3.31

12891

461.45

PIDILITIND

14032

333

14365

807.48

18.94

826.42

0.18

9671

1159

HCLTECH

6816

4929

11745

468.99

345.45

814.44

2.92

13920

997.05

CANBK

10890

4496

15386

569.36

240.74

810.1

2.99

10773

263.25

DLF

10801

7022

17823

473.14

318.24

791.38

5.11

16588

178.1

LUPIN

7386

5164

12550

437.51

311.52

749.03

2.17

15951

845

BPCL

8718

3925

12643

513.04

233.29

746.33

3.52

10611

326.55

ONGC

9222

4105

13327

506.23

237.69

743.92

2.68

17542

147

SUNTV

8931

3142

12073

537.43

195.78

733.21

1.63

11407

602.45

JUBLFOOD

6597

4968

11565

403.76

306.7

710.46

3.25

8627

1229

EICHERMOT

6828

4386

11214

408.1

271.36

679.46

1.54

15470

23890

RELINFRA

8522

6199

14721

389.86

289.49

679.35

3.48

9124

352.25

IOC

13125

3149

16274

540.31

137.23

677.54

2.34

19997

137.55

POWERGRID

8441

899

9340

610.21

65.73

675.94

0.49

10793

182

NCC

6327

3219

9546

436.78

229.59

666.37

3.12

9377

86.5

IDFCBANK

12282

2820

15102

534.09

126.56

660.65

2.48

15453

39.55

DABUR

8257

4343

12600

426.22

226.64

652.86

2.92

11878

418.5

RELCAPITAL

11506

6846

18352

401.15

250.56

651.71

4.82

13531

232

NTPC

8981

2149

11130

512.49

128.6

641.09

1.41

14297

145.2

HINDPETRO

10306

5840

16146

402.9

232.42

635.32

3.86

19859

245.85

ESCORTS

5933

2642

8575

434.49

198.9

633.39

1.85

6447

672.15

APOLLOTYRE

5559

3128

8687

370.79

212.3

583.09

1.9

6774

224.15

PNB

10194

4082

14276

398.45

169.21

567.66

3.36

28013

71.35

GRASIM

7490

1392

8882

473.47

90.81

564.28

1.09

13335

845.5

CIPLA

6146

4243

10389

320.36

228.77

549.13

1.91

17063

522.55

INDIGO

6069

2424

8493

384.67

154.36

539.03

2.31

10824

1049.25

PFC

6458

2345

8803

392.81

145.42

538.23

2.02

8527

101.8

RECLTD

5252

1770

7022

383.76

131.33

515.09

1.41

10649

122.25

LICHSGFIN

5485

4391

9876

277.9

223.63

501.53

2.12

13524

457

RBLBANK

6056

1338

7394

407.69

91.71

499.4

1.19

7887

564.7

ULTRACEMCO

5532

730

6262

439.64

58.7

498.34

0.46

14466

3965

PEL

6844

668

7512

450.41

46.09

496.5

0.68

11479

2178.9

L&TFH

6124

2014

8138

361.83

122.86

484.69

1.37

9374

131.3

BANKINDIA

6384

2800

9184

322.52

149.46

471.98

1.99

7437

84.55

GAIL

3877

1172

5049

353.03

110.37

463.4

0.97

10664

340

NIITTECH

4492

1209

5701

357.8

101.31

459.11

1.04

3496

1077.9

MCDOWELL-N

4729

1023

5752

376.03

82.45

458.48

0.8

9333

636.15

BHEL

7361

1739

9100

363.58

92.92

456.5

1.43

13652

67.05

BATAINDIA

4882

3556

8438

256.65

191.13

447.78

1.41

5690

973

DIVISLAB

5285

1966

7251

321.76

121.86

443.62

1.12

9824

1504.05

ACC

4505

2850

7355

260.68

169.4

430.08

1.22

5640

1439.15

BHARATFORG

5371

818

6189

368.68

58.5

427.18

0.6

7961

570.05

BIOCON

4255

3265

7520

236.19

185.87

422.06

1.59

9303

614.95

ADANIPOWER

3986

147

4133

400.81

14.61

415.42

0.33

9362

50.45

MINDTREE

4825

2963

7788

240.68

151.87

392.55

1.41

6344

840.25

VOLTAS

4236

2860

7096

232.73

159.76

392.49

1.16

10259

559.55

PAGEIND

5747

7

5754

382.67

0.48

383.15

0

5786

26825

FEDERALBNK

6383

2094

8477

282.87

95.43

378.3

1.09

12859

81.05

CAPF

6978

1674

8652

301.27

73.96

375.23

1.34

9003

541.5

HAVELLS

4095

1527

5622

269.7

102.21

371.91

0.59

6318

662

CENTURYTEX

5622

1465

7087

277.19

73.18

350.37

0.67

10136

902

TVSMOTOR

4837

1583

6420

255.95

85.78

341.73

0.64

9356

535.85

MOTHERSUMI

7361

1564

8925

274.46

60.41

334.87

0.85

16937

156.3

SIEMENS

7036

244

7280

318.95

11.67

330.62

0.12

7174

913

GODREJCP

6636

822

7458

290.73

37.3

328.03

0.68

10347

747.5

TATAELXSI

6079

1802

7881

238.02

72.03

310.05

0.71

5550

996.3

DHFL

7524

1697

9221

243.43

64.76

308.19

0.9

21663

222.25

PETRONET

3841

792

4633

251.4

52.67

304.07

0.5

5105

219.65

BEL

4649

1668

6317

216.97

79.84

296.81

0.74

8057

96.05

IDFC

4583

867

5450

245.83

47.93

293.76

0.81

9684

40.35

MARICO

2824

230

3054

262.76

21.18

283.94

0.31

3972

360

JUSTDIAL

3084

936

4020

212.62

67.6

280.22

0.69

3072

492.05

BRITANNIA

4058

578

4636

244.41

35.42

279.83

0.28

15701

6020

UNIONBANK

4029

1662

5691

193

82.3

275.3

1.01

10518

80.05

GMRINFRA

3335

314

3649

239.61

24.21

263.82

0.29

5408

16.15

BHARATFIN

4991

441

5432

241.42

21.57

262.99

0.21

14522

967.5

BAJAJFINSV

3149

486

3635

226.57

35.59

262.16

0.31

6135

5740

CEATLTD

4650

1312

5962

199.78

57.97

257.75

0.49

4255

1226

BALKRISIND

2631

678

3309

202.19

54.44

256.63

0.4

4671

963.8

TATAPOWER

2660

909

3569

180.82

64.65

245.47

0.54

7938

75.9

M&MFIN

3976

582

4558

212.48

31.49

243.97

0.34

8157

421.5

RAYMOND

3038

550

3588

196.4

35.79

232.19

0.36

6027

805.95

GLENMARK

2728

881

3609

173.88

57.7

231.58

0.56

5478

641

TATAGLOBAL

3410

1245

4655

165.76

61.73

227.49

0.51

6130

218.1

APOLLOHOSP

2655

957

3612

163.9

60.73

224.63

0.69

3915

1247.75

INDIACEM

5282

1649

6931

166.56

54.76

221.32

0.76

8923

90.6

COLPAL

2013

645

2658

165.92

53.21

219.13

0.51

2479

1202

IRB

5100

920

6020

184.71

34.08

218.79

0.45

6380

146.2

JISLJALEQS

2982

482

3464

184.88

31.22

216.1

0.49

4559

70.4

IGL

2156

674

2830

159.7

51.03

210.73

0.46

2852

267.6

ADANIENT

2896

253

3149

182.72

17.61

200.33

0.11

12497

158

HEXAWARE

3659

666

4325

166.03

32.98

199.01

0.6

4498

310.5

JETAIRWAYS

4347

1182

5529

152.12

39.46

191.58

0.77

8537

303

KPIT

4059

120

4179

183.28

5.72

189

0.14

3902

205.25

SRF

1406

326

1732

146.09

34.65

180.74

0.32

1834

2069.05

AMBUJACEM

2721

549

3270

146.08

30.07

176.15

0.26

7394

216.45

BEML

3946

591

4537

150.85

22.84

173.69

0.49

3828

767

WOCKPHARMA

3137

515

3652

147.56

25.6

173.16

0.34

4916

519.15

UBL

1740

149

1889

156.81

13.86

170.67

0.12

3155

1287

ORIENTBANK

2851

342

3193

150.06

18.75

168.81

0.54

2933

88.55

EXIDEIND

2289

1030

3319

116.09

52.53

168.62

0.48

5227

253.85

INDIANB

2791

633

3424

125.19

30.86

156.05

0.33

4611

222.15

CADILAHC

2356

361

2717

132

21.06

153.06

0.17

6279

353.6

DALMIABHA

2104

16

2120

149.25

1.2

150.45

0.03

2599

2398

HINDZINC

1590

189

1779

132.44

16.58

149.02

0.28

2915

262.1

PVR

2255

274

2529

128.69

16.02

144.71

0.08

3705

1436

TATACHEM

2218

512

2730

116.4

27.24

143.64

0.24

4920

697

NATIONALUM

2133

574

2707

111.21

32.18

143.39

0.34

5652

65.85

NMDC

2082

378

2460

119.87

22.77

142.64

0.35

5294

96.85

IDBI

1438

870

2308

86.57

52.91

139.48

0.48

7047

60.2

TATAMTRDVR

4462

290

4752

121.8

8.37

130.17

0.13

11091

98.65

GSFC

2518

198

2716

119.11

10.35

129.46

0.3

4333

103.8

KTKBANK

2442

353

2795

112.03

16.16

128.19

0.22

4528

102.5

MRF

1857

4

1861

126.87

0.28

127.15

0

2795

67936.35

AMARAJABAT

1968

539

2507

98.45

28.36

126.81

0.33

2886

722

PCJEWELLER

6064

4270

10334

68.7

57.25

125.95

1.34

17512

74.35

MCX

2291

250

2541

112.89

12.75

125.64

0.09

5955

704.9

DISHTV

3272

816

4088

98.72

24.9

123.62

0.29

8817

37.85

STAR

3109

282

3391

110.96

10.68

121.64

0.16

4939

455.15

TATACOMM

2794

54

2848

118.78

2.32

121.1

0.07

3812

528.95

GODREJIND

1491

50

1541

116.59

3.9

120.49

0.04

1844

528.95

NBCC

2912

581

3493

98.76

21.49

120.25

0.28

7130

56.6

NESTLEIND

2271

29

2300

118.66

1.53

120.19

0.01

6694

10450

UJJIVAN

2479

956

3435

84.96

33.58

118.54

0.47

4425

216.65

BOSCHLTD

1992

18

2010

113.04

1.08

114.12

0

5826

18697.5

EQUITAS

1886

738

2624

80.64

32.52

113.16

0.63

5346

107

OIL

1537

156

1693

102.15

10.8

112.95

0.06

2029

199.8

TORNTPOWER

1212

168

1380

93.04

13.58

106.62

0.16

1631

253.95

CONCOR

1236

32

1268

103.87

2.73

106.6

0.09

2782

670.1

INFRATEL

2135

242

2377

95.15

10.98

106.13

0.14

5147

263

RPOWER

2310

338

2648

91.67

14.2

105.87

0.22

4870

30.05

ICICIPRULI

2339

133

2472

98.59

5.91

104.5

0.08

3547

324.45

KAJARIACER

1982

245

2227

91.78

11.38

103.16

0.14

2413

464.4

SOUTHBANK

1830

191

2021

89.81

9.82

99.63

0.19

4999

14.95

CHOLAFIN

1496

21

1517

96.95

1.37

98.32

0.01

1612

1288.3

CANFINHOME

2951

139

3090

93.46

4.71

98.17

0.09

4076

253.2

MGL

1894

42

1936

95.67

2.2

97.87

0.01

2643

837

ALBK

1565

399

1964

77.41

20.15

97.56

0.47

3088

46.15

MFSL

1827

36

1863

91.97

1.88

93.85

0.03

2389

417

MUTHOOTFIN

1296

81

1377

88.12

5.57

93.69

0.07

1797

457.55

BERGEPAINT

1262

63

1325

88.55

4.5

93.05

0.07

1602

319.5

TORNTPHARM

1099

7

1106

90.72

0.6

91.32

0

904

1649.8

MANAPPURAM

1489

265

1754

75.94

13.74

89.68

0.23

3160

84.65

CASTROLIND

1920

158

2078

81.62

6.82

88.44

0.08

4083

153.5

DCBBANK

1178

45

1223

82.35

3.33

85.68

0.06

1656

156.45

SYNDIBANK

2389

240

2629

75.54

7.82

83.36

0.16

3447

35.1

SHREECEM

1032

0

1032

82.47

0

82.47

0

2108

16010.4

CGPOWER

1375

343

1718

65.14

16.7

81.84

0.48

4903

39.7

SUZLON

2948

135

3083

71.64

3.68

75.32

0.17

8679

5.45

RCOM

1746

237

1983

65.07

9.87

74.94

0.36

4848

13.5

INFIBEAM

3111

832

3943

56.81

17.46

74.27

0.59

7073

44.9

TV18BRDCST

2180

194

2374

64.61

6.2

70.81

0.15

6953

35.05

CESC

1413

446

1859

52.79

17.28

70.07

0.13

5413

671.35

AJANTPHARM

1212

45

1257

67.23

2.65

69.88

0.08

1856

1113.5

CUMMINSIND

1093

139

1232

59.66

7.77

67.43

0.1

2436

788.5

JPASSOCIAT

2615

196

2811

60.53

5.11

65.64

0.19

5211

6.75

GODFRYPHLP

1023

42

1065

61.66

2.5

64.16

0.07

938

858

RAMCOCEM

1203

3

1206

58.5

0.15

58.65

0

1109

600

VGUARD

951

54

1005

55.46

3.05

58.51

0.07

1420

200

GRANULES

1053

197

1250

47.69

9.91

57.6

0.14

2288

90.15

ENGINERSIN

1186

161

1347

48.68

6.84

55.52

0.07

2495

118.5

KSCL

741

6

747

54.94

0.45

55.39

0

1304

503.5

PTC

689

105

794

43.85

7

50.85

0.13

1516

80.25

NIFTYIT

687

4

691

47.49

0.28

47.77

0

459

14025.4

REPCOHOME

1169

14

1183

39.93

0.51

40.44

0.02

944

377.05

SREINFRA

1418

274

1692

33.12

6.76

39.88

0.21

3011

33.3

NHPC

429

128

557

30.01

8.97

38.98

0.3

1805

26

MRPL

942

70

1012

32.11

2.46

34.57

0.03

1306

76.2

CHENNPETRO

835

12

847

33.06

0.51

33.57

0.02

872

266

IFCI

669

126

795

22.85

4.4

27.25

0.18

2813

13.8

OFSS

487

0

487

24.84

0

24.84

0

1251

3415

HCC

289

42

331

6.67

1.11

7.78

0.01

1376

11.55

NIFTYMID50

2

0

2

0.1

0

0.1

0

6317

4792.1

As you can see from the above table, the options and the futures trades on the Bank Nifty and the Nifty; followed by a handful of stocks like Reliance, Yes Bank, Maruti, ICICI Bank etc account for more than 90% of all volumes happening in the futures and options market. Equity options have emerged as a big segment of stock markets in the last 10 years. In fact, today index options and equity options put together account for over 85% of the total volumes on the NSE on a daily basis. The regulator has been trying to constantly caution retail investors about the merits and demerits of the F&O market. But the substantially higher volumes on the F&O markets are surely here to stay. They have been dominating the F&O markets and look set to continue to do so.