What is the underlying asset for commodity options in India?

Which pricing model is used to calculate premiums for commodity options?

What is the exercise style likely to be for commodity options?

How many strikes are expected to be available for a commodity option, considering one 'At the money strike' (ATM)?

What new terminology is introduced in commodity options regarding option moneyness?

What action is required for 'Close to Money' (CTM) option holders upon expiry?

What happens to an 'In the Money' (ITM) option, excluding CTM, upon expiry?

What is the purpose of 'Devolvement Margin' in commodity options?

When will the 'Devolvement Margin' be assigned by exchanges?

What happens to a long call option position upon devolvement?