Back-Test · 2000 – 2023
Year-by-Year Payoffs
Simulated P&L on a ₹1 cr position per strike. Green fill = positive returns, red fill = negative returns.
21000 PE
22000 PE
23000 PE
24000 PE
2008
Global Financial Crisis
Largest payoff year — Nifty dropped ~52%
2011
Euro Debt Crisis
Second largest — Nifty fell ~25% intra-year