Abstarct: Abstract In the current research, two types of options are considered on the total index of the Tehran Stock Exchange, and the opportunities to create arbitrage through the application of the barrier options contract during the year 1400 have been investigated and analyzed. Two linear Black-Scholes models have been used in addition to the non-linear Black-Scholes model for option pricing. The statistical population of this research includes the daily data of the total index from 2013 to the end of 2014. The results of this research show how profit or loss can be realized in an upwardly valued barrier call option for prices above the barrier, as well as a downwardly valued barrier call option for prices below the barrier and European call options. Also, the obtained results have been compared with each other and the arbitrage opportunities have been examined. During this research, it was found that as long as the pricing of European and barrier options is done under the non-linear Black-Scholes model, all three options will have good returns and profits, but when the pricing is done under the linear Black-Scholes model, only the barrier option has a downward profit. It creates a suitable.