1. Let's get some perspective over the Russia-Ukraine war situation, by looking at Russia's history and geography.

It will be a rather long post, but we need to understand what led to this current situation and what might come in future. 2. Russia is huge. Spans 11 time zones. Largest country, almost 2x the 2nd. Stretched across Europe & Asia.

Even today, to cross it by train from east to west takes 6 days.

For years, leaders of Russia hve looked in all directions for policy making, but have focused westward.

#IRCTC has fallen almost 35% in last ~8 trading hours.

There may be various reasons but one of them was that people anticipated the stock will go in BAN category from today. Hence, they started selling.

What is meant by BAN? How does a stock go in ban? Let's discuss this

1/n Only those stocks will be in ban period which trade in Derivative markets. This doesn't mean you can't buy or sell the stock. You can.

However, in this period, a trader cannot open any new futures or options position. Though exiting currently held position is okay.

2/n

What is VIX?
Volatility Index.

What’s Volatility?
Expectation of the underlying’s deviation from what it is currently trading at. Assume underlying here as NIFTY Index.

If Nifty trades at 17,000, 1% volatility for 1 day means, expected to trade between +/- 1% 170 points.

1/n Coming back to VIX.
So, VIX is computed as an index which trades on the exchange. Just like we have other indices like Nifty, Sensex, Bank Nifty, etc and has a certain rule how they are computed, similarly, there are set of rules and formulae how VIX is computed.

2/n