The TOPSBR does NOT have a underlying instrument. It will only pay out the intrinsic value if it is in the money. Try AMSSBI, you can physically go to the underlying equity. No you will not get R1 a point. look at TOPSBS it is in the money by miles and still delta is only 78%. If you buy TOPSBR now by the time it gets to strike price the delta will be around maybe 20% and if it gets to around 40000 delta will be around 25% for (not actual calculations). I hope this helps
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