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  1. Options are derivatives contract. They don’t have value of their own, but they derive their value from something else. For example, there are options contract based on foreign exchange rate (like Rupee-Dollar exchange rate). Similarly, on NSE, you can trade options contract based on Nifty index. OPTIDX is the symbol of such option contract whose value is derived from the Nifty index. So, the sentence you mentioned means that OPTIDX (which is the option contract based on Nifty) derives its value from Nifty.