NISM Series 8 (NISM VIII): Equity Derivatives Certification Exam Notes

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  • Short Futures: Selling futures expecting price depreciation.
  • Price Discovery: Futures help predict future spot prices at contract expiry.
  • Risk Exposure: Futures carry symmetric risk (equal potential for gain/loss).
  • Beta: Measures a stock/portfolio’s sensitivity to market movements.
  • Portfolio Beta: Weighted average of individual stock betas in a portfolio.

NISM Equity Derivatives

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