I haven’t read the book. Just talking about turnovers.
If you look at F&O turnover as notional (contract) turnover, it does look quite massive. Let me give you an example, if you bought and sold 10 lots of Nifty options trading at say Rs 10. Your premium required to buy this is Rs 7500. So you generate a premium turnover of Rs 15000 with this buy/sell trade.
If you look at the same trade as notional or contract turnover, 1 lot of Nifty ~ Rs 10lks contract value. So buying and selling 10 lots will generate Rs 2 crores turnover.
So yeah, with Rs 7500 you can generate 2 crores in one trade. You do 10 trades, that is Rs 20 crores notional turnover. 80% of all turnover on the exchanges are from options. So some small traders also generate tens of crores of notional turnover daily. I think if people are looking at turnover, the best way to do it is by using premium turnover.