I am not an expert in this domain. Your question yesterday is what triggered me to search more about this topic. That search led me to the October 23rd 2020 Notification. My knowledge about this topic is mainly derived from another thread related to this topic - Trading Derivatives in USA from India. That thread contains a lot of varying viewpoints about this (including forum members like @Pro_Trader1 filing an RTI to get clarification about this from RBI and SEBI). I had raised the query about buying options on that thread with context to the new Notification (no responses to that yet).
I too was of the opinion that option buying shouldn’t be an issue but after seeing the new notification, my view changed because it explicitly mentions about the prohibition of posting margin for derivative contracts (while precisely defining what terms like Derivative and Margin mean). Also, when I read post margin for derivative contracts, I understood that as the money one sends for buying a derivative contract. Again, I am neither a lawyer nor an expert in this domain and I can understand that someone else might interpret posting margin as meaning “sending money in case of margin call”. And like @Pro_Trader1 said in that other thread, it is best to get clarity about this from a person who is dealing with FEMA related matters/cases on a regular basis.
One other way to get clarity about this might be by asking IBKR directly about it. Because they are a reputed international broker and they would definitely have done their due diligence (including about FEMA) before providing this facility to Indian customers