Nifty automated option chain ? What Is an Options Chain? 

Options chain, also known as an options table, listing for a single underlying stock that shows all of the available option contracts. It shows all listed calls, puts, strike prices, and volume expiration date, and pricing information for a single underlying asset within a given maturity or expiry. Option chain will typically be classified by expiration date and divided by calls and puts.

Understanding an option

An option is a contract that gives the right, but not a commitment (duty) to buy or sell the underlying asset (stock) on or before a stated date /day, at a stated price, for a price the trader taking a long position, buying the option is called buyer of the option and the trader taking a short (sell) position that is selling the option is called seller or writer of the options.

The option buyer has the right but no commitment with regards to buying or selling the underlying asset (stock), while the option seller (writer) commits in the contract. Therefore, the option buyer will exercise, his option only when the situation is favorable to him, but when he decides to exercise, the option writer would be legally bound to honor the contract.