Options Contract Specification - Monthly
Futures Contract Specifications | Weekly Options Contract Specifications
| Bank Nifty Options Contract Specifications | |||||||||||||||||||
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| Ticker Symbol | BANKNIFTY | ||||||||||||||||||
| Contract Size | 40 units. | ||||||||||||||||||
| Tick Size | 0.05 | ||||||||||||||||||
| Trading Hours | As in equity derivative segment | ||||||||||||||||||
| No. of strikes/strike intervals |
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| Expiry Date | BANKNIFTY options contracts expire on the last Thursday of the expiry month. If the last Thursday is a trading holiday, the contracts expire on the previous trading day. | ||||||||||||||||||
| Contract months | BANKNIFTY options contracts have a maximum of 3-month trading cycle - the near month , the next month and the far month. A new contract is introduced on the trading day following the expiry of the near month contract. | ||||||||||||||||||
| Option Type | The options contracts shall be European styled which can be exercised only on the expiration date | ||||||||||||||||||
| Daily Settlement Price | Daily premium settlement | ||||||||||||||||||
| Final Settlement Price | Final settlement price for an option contract shall be the closing price of the underlying index in the Normal Market of the Capital Market segment of National Stock Exchange on the last trading day of such futures contract. | ||||||||||||||||||
| Final Settlement Procedure | Final settlement will be Cash settled in INR based on final settlement price. long positions of in-the money contracts shall be assigned to open short positions in option contracts. | ||||||||||||||||||
| Final Settlement day | All open positions on expiry date shall be settled on the next working day of the expiry date (T+1) | ||||||||||||||||||
| Position Limits | The trading member/MF/FII position limits in BANKNIFTY options contracts shall be higher of Rs.500 crores or 15% of the total open interest in the market . This limit would be applicable on open positions in all options contracts on underlying index | ||||||||||||||||||
Updated on: 03/02/2021
