STRIKE PRICE FOR INDICES ANS STOCKS ON NSE

S&P CNX Nifty:-OPTIONS

Strike Price Intervals
The number of contracts provided in options on NIFTY is related to the range in which
previous day’s closing value of NIFTY falls as per the following table:

NIFTY Index Strike Scheme of strikes to be

Level Interval introduced (ITM-ATM-OTM)
upto 1500 10 3-1-3
>1500 upto 2000 10 5-1-5
>2000 upto 2500 10 7-1-7
>2500 10 9-1-9

New contracts with new strike prices for existing expiration date are introduced for
trading on the next working day based on the previous day's close Nifty values, as and
when required. In order to decide upon the at-the-money strike price, the Nifty closing
value is rounded off to the nearest 10.

The in-the-money strike price and the out-of-the-money strike price are based on the at-
the-money strike price interval.

BANK Nifty:-OPTIONS

Strike Price Intervals

The number of contracts provided in options on index is based on the range in previous
day’s closing value of the underlying index and applicable as per the following table:

Strike Scheme of Strike to be

Index Level
Interval introduced
upto 2000 50 4-1-4
>2001 upto 4000 100 6-1-6
>4001 upto 6000 100 6-1-6
>6000 100 7-1-7

The above strike parameters scheme shall be applicable for all Long terms contracts also.

Nifty Midcap 50 Options

Strke Price Intervals
The number of contracts provided in options on index is based on the range in previous
day’s closing value of the underlying index and applicable as per the following table:

Strike Scheme of Strike to be

Index Level
Interval introduced
upto 2000 50 4-1-4
>2001 upto 4000 100 6-1-6
>4001 upto 6000 100 6-1-6
>6000 100 7-1-7

The above strike parameters scheme shall be applicable for all Long terms contracts also.

Options on Individual Securities

Strike Price Parameters
Following strike parameter is currently applicable for options contracts on all individual
securities:

The strike price interval would be:

No. of Strikes
No. of additional
Strike Provided In the
Underlying Closing strikes which may be
Price money- At the
Price enabled intraday in
Interval money- Out of the
either direction
money
Less than or equal to
2.5 5-1-5 5
Rs.50
> Rs.50 to ≤ Rs.100 5 5-1-5 5
> Rs.100 to ≤ Rs.250 10 5-1-5 5
> Rs.250 to ≤ Rs.500 20 5-1-5 5
> Rs.500 to ≤ Rs.1000 20 10-1-10 10
> Rs.1000 50 10-1-10 10

The Exchange, at its discretion, may enable additional strikes as mentioned in the above
table in the direction of the price movement, intraday, if required. The additional strikes
may be enabled during the day at regular intervals and message for the same shall be
broadcast to all trading terminals.
New contracts with new strike prices for existing expiration date are introduced for
trading on the next working day based on the previous day’s underlying close values, as
and when required. In order to decide upon the at-the-money strike price, the underlying
closing value is rounded off to the nearest strike price interval.

The in-the-money strike price and the out-of-the-money strike price are based on the at-
the-money strike price interval.