Consider the following statements : I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom. II. India's stock market has grown rapidly in the recent past even overtaking Hong Kong's at some point of time. III. There is no regulatory body either to warn the small investors about the risks of options trading or to act on unregistered financial advisors in this regard. Which of the statements given above are correct?

Statement I is correct: India accounts for a very large share (around 80%) of global equity options contracts traded by volume as per recent data. Statement II is correct: India's stock market overtook Hong Kong's in 2024 to become the world's fourth-largest stock market by market capitalization. Statement III is incorrect because SEBI (Securities and Exchange Board of India) is the regulatory body that warns small investors about derivatives/options trading risks and takes action against unregistered financial advisors/influencers. Hence, only I and II are correct.