New Delhi, March 27 -- Traders in index options have witnessed phenomenal returns over the past few sessions, with Sensex and Bank Nifty call options delivering multi-fold gains amid strong momentum in the broader market.

The Sensex 77,000 call option (CE) surged 367% in just eight days, while the Bank Nifty 48,500 CE skyrocketed by 611% in nine trading sessions, creating lucrative opportunities for derivatives traders.

On March 19, the Sensex 77,000 CE was trading at Rs.181.10. By March 26, it had surged to Rs.846.05 per unit, generating a 367% gain.

With a lot size of 20, one lot would have cost Rs.3,622 ( Rs.181.10 x 20). By March 26, its value had risen to Rs.16,921 ( Rs.846.05 x 20), translating to a profit of Rs.13,299 per lot (2...