Smallcase with options

Is there any smallcase using F&O ? If not, why didnt anyone make one ?

I guess there are SEBI hurdle for selling of FNO institutional products like MF

Thats not true.But smallcase is not a MF anyways.

Jst to clarify abt mutual fund …MFs are allowed to the extent of 50% to invest in FNO…with few constraints,

Here is a write-up from SEBI on derivatives:

“Derivative trading The Securities Law (Amendment) Act 1999, was passed by the Parliament and notification was issued on December 16, 1999, ‘derivatives’ are now included in the definition of “securities” under SC® Act. “Derivatives” has been defined as contracts which derives value form prices, or index of prices of underlying securities. In-principle approval was granted on January 17, 2000 to the Futures & Options segment of NSE, its clearing house i.e. Futures & Options Segment of NSCCL and the Derivative Segment of BSE. The in-principle approval was subject to compliance with the conditions of eligibility recommended by Dr. L.C Gupta Committee. On February 1, 2000 SEBI issued guidelines for participation by Mutual Funds in trading in derivative contracts for the purpose of hedging and portfolio balancing. The Central Government has withdrawn CIRCULAR NO S.O. 2561 DATED JUNE 27, 1969 on forward trading in securities vide its notification dated March 01, 2000. The SEBI has issued notification dated March 01, 2000 permitting trading in Exchange traded derivatives. All the necessary infrastructure to start derivative trading are in place with NSE & BSE. SEBI has already prescribed regulatory framework for Derivative trading in India. Derivative trading would therefore start very soon”

Here is SEBI circular on “Participation of mutual funds in Credit Default Swaps (CDS) Market as Users (“Protection Buyers”) and in repo, in corporate debt securities”