“…The present methodology is used to value European or American options, and European style options are accessible for trade on Indian exchanges. In financial mathematics, both the theoretical and practical approaches to this topic play an essential role Aguilar and Korbel (2018), Akrami and Erjaee (2016), Al-Zhour et al (2019), Ankudinova and Ehrhardt (2008), Cen et al (2018), Chen et al (2018), Company et al (2006Company et al ( , 2007Company et al ( , 2008, Contreras et al (2010), De Staelen and Hendy (2017), Dehghan et al (2017), Dubey et al (2019), Edeki et al (2017), Fall et al (2019, Ghandehari and Ranjbar (2014), Golbabai et al (2013Golbabai et al ( , 2019, Haq and Hussain (2018), Hu and Gan (2018), Kanth and Aruna (2016), Karipova and Magdziarz (2017), Khan and Ansari (2016), Kumar et al (2014Kumar et al ( , 2012, € Ozdemir and Yavuz (2017), Phaochoo et al (2016), Rao et al (2016Rao et al ( , 2018, Sawangtong et al (2018), Shokrollahi (2018), Song and Wang (2013), Yavuz and € Ozdemir (2018a, b), Zhang et al (2016). The main theory of the BS model allows a riskless portfolio comprising bonds, options and the underlying stock to remove resultant risk.…”