Strategy builder
BANKNIFTY · Tue 29 Sep 2026 expiry · one lot is 25 · priced at the settled close of Fri 18 Sep 2026. Not live.
Pick the legs; this works out what they cost, what they are worth at any settlement price, and where they break even.
Start from a shape
Pick a shape above, or a strike below, and the payoff appears here.
What each structure is exposed to
- Options against their own yeardearer than 45 of the past 252 sessions
- Puts against calls, against its own historyabout as many puts against calls as usual for this market
- The contract these are priced onTue 29 Sep 2026
| Structure | Paid or received | Delta | Gamma | Theta, a day | Vega, a point | Most it can lose | |
|---|---|---|---|---|---|---|---|
| Long call | pays ₹13,401 | 12.37.6 · 16.9 | 0.00850.0075 · 0.0076 | -532.7-461.8 · -484.0 | 975.5845.6 · 886.3 | ₹13,401 | Open → |
| Long put | pays ₹10,365 | -12.7-17.4 · -8.1 | 0.00840.0074 · 0.0075 | -539.1-468.8 · -490.9 | 975.5848.4 · 888.4 | ₹10,365 | Open → |
| Short call | receives ₹13,401 | -12.3-7.6 · -16.9 | -0.0085-0.0075 · -0.0076 | 532.7461.8 · 484.0 | -975.5-845.6 · -886.3 | no limit | Open → |
| Short put | receives ₹10,365 | 12.717.4 · 8.1 | -0.0084-0.0074 · -0.0075 | 539.1468.8 · 490.9 | -975.5-848.4 · -888.4 | no limit | Open → |
| Call spread | pays ₹1,400 | 0.90.8 · 0.7 | 0.00000.0003 · -0.0003 | -7.4-26.3 · 12.9 | 5.741.6 · -31.1 | ₹1,400 | Open → |
| Put spread | pays ₹1,023 | -0.8-0.8 · -0.7 | 0.0001-0.0002 · 0.0003 | 3.423.3 · -15.5 | 1.4-35.3 · 34.6 | ₹1,023 | Open → |
| Short straddle | receives ₹23,766 | 0.59.8 · -8.8 | -0.0169-0.0149 · -0.0150 | 1,071.8930.6 · 974.9 | -1,951.0-1,694.0 · -1,774.6 | no limit | Open → |
| Long straddle | pays ₹23,766 | -0.5-9.8 · 8.8 | 0.01690.0149 · 0.0150 | -1,071.8-930.6 · -974.9 | 1,951.01,694.0 · 1,774.6 | ₹23,766 | Open → |
| Short strangle | receives ₹19,109 | 0.59.7 · -8.7 | -0.0166-0.0147 · -0.0149 | 1,057.3920.6 · 965.9 | -1,922.9-1,671.1 · -1,759.6 | no limit | Open → |
| Iron condor | receives ₹3,916 | -0.10.3 · -0.5 | -0.0008-0.0006 · -0.0004 | 39.124.9 · 24.6 | -80.7-60.1 · -47.3 | ₹1,084 | Open → |
| Call butterfly | pays ₹314 | 0.00.1 · -0.1 | -0.0002-0.0002 · -0.0001 | 16.211.3 · 11.1 | -28.3-21.8 · -17.3 | ₹314 | Open → |
One lot of BANKNIFTY, 25 units, priced at the settled close of Fri 18 Sep 2026. The small pair under each figure is the same position after one ordinary daily move of about 574 points — down first, then up. Halfway to expiry, on Wed 23 Sep 2026, the same position reads differently again; the builder shows it for the legs you choose.
These are structures, not suggestions. The desk states what each one is exposed to and never which one to hold.
The chain — pick a strike
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Open interest | Premium | Add | Add | Premium | Open interest | |
| 8,070 | 2,068.95 | buysell | 54,500 | buysell | 51.15 | 4,36,620 |
| 300 | 2,057.85 | buysell | 54,600 | buysell | 56.85 | 62,370 |
| 690 | 1,864.45 | buysell | 54,700 | buysell | 63.20 | 53,820 |
| 1,350 | 1,771.65 | buysell | 54,800 | buysell | 69.70 | 87,240 |
| 1,410 | 1,631.10 | buysell | 54,900 | buysell | 78.45 | 55,680 |
| 1,04,310 | 1,606.30 | buysell | 55,000 | buysell | 87.50 | 7,74,000 |
| 2,490 | 1,504.65 | buysell | 55,100 | buysell | 97.70 | 65,490 |
| 4,350 | 1,450.00 | buysell | 55,200 | buysell | 109.45 | 1,53,360 |
| 5,010 | 1,338.30 | buysell | 55,300 | buysell | 122.75 | 91,440 |
| 12,660 | 1,253.70 | buysell | 55,400 | buysell | 137.15 | 84,780 |
| 51,270 | 1,172.25 | buysell | 55,500 | buysell | 154.15 | 5,83,350 |
| 21,180 | 1,081.00 | buysell | 55,600 | buysell | 173.70 | 86,790 |
| 26,130 | 1,007.05 | buysell | 55,700 | buysell | 193.80 | 1,07,760 |
| 54,870 | 932.45 | buysell | 55,800 | buysell | 218.05 | 1,43,580 |
| 74,400 | 858.00 | buysell | 55,900 | buysell | 243.05 | 1,50,930 |
| 4,05,600 | 788.60 | buysell | 56,000 | buysell | 271.00 | 9,41,550 |
| 85,230 | 721.85 | buysell | 56,100 | buysell | 302.50 | 1,87,860 |
| 1,37,100 | 656.70 | buysell | 56,200 | buysell | 336.40 | 2,28,000 |
| 2,08,320 | 595.80 | buysell | 56,300 | buysell | 373.70 | 3,12,360 |
| 1,84,320 | 536.05 | buysell | 56,400 | buysell | 414.60 | 1,69,020 |
| 6,27,270 | 480.05 | buysell | 56,500 | buysell | 460.10 | 6,74,220 |
| 1,48,470 | 427.95 | buysell | 56,600 | buysell | 508.50 | 1,49,490 |
| 1,58,040 | 380.25 | buysell | 56,700 | buysell | 560.40 | 1,37,460 |
| 2,44,230 | 336.70 | buysell | 56,800 | buysell | 613.50 | 1,02,240 |
| 1,81,320 | 295.30 | buysell | 56,900 | buysell | 672.00 | 94,170 |
| 10,76,340 | 259.80 | buysell | 57,000 | buysell | 737.95 | 6,99,360 |
| 1,80,540 | 225.45 | buysell | 57,100 | buysell | 803.30 | 74,490 |
| 2,06,400 | 195.55 | buysell | 57,200 | buysell | 870.95 | 91,470 |
| 1,66,740 | 169.75 | buysell | 57,300 | buysell | 944.25 | 78,330 |
| 2,42,310 | 146.10 | buysell | 57,400 | buysell | 1,020.35 | 1,43,700 |
| 14,24,400 | 126.70 | buysell | 57,500 | buysell | 1,104.30 | 15,08,730 |
| 2,34,630 | 108.25 | buysell | 57,600 | buysell | 1,193.30 | 66,030 |
| 3,23,760 | 92.20 | buysell | 57,700 | buysell | 1,269.60 | 1,31,460 |
| 2,81,880 | 78.55 | buysell | 57,800 | buysell | 1,352.45 | 1,32,690 |
| 2,33,940 | 67.20 | buysell | 57,900 | buysell | 1,453.85 | 1,43,430 |
| 16,33,350 | 58.15 | buysell | 58,000 | buysell | 1,539.70 | 7,47,990 |
| 1,56,060 | 49.70 | buysell | 58,100 | buysell | 1,604.00 | 40,800 |
| 1,65,810 | 42.50 | buysell | 58,200 | buysell | 1,715.80 | 56,250 |
| 1,50,570 | 36.55 | buysell | 58,300 | buysell | 1,760.90 | 54,090 |
| 1,23,270 | 31.65 | buysell | 58,400 | buysell | 1,809.30 | 30,120 |
| 8,93,610 | 27.90 | buysell | 58,500 | buysell | 2,002.15 | 1,67,490 |
Premiums are the settled close for Tue 29 Sep 2026 expiry, so the payoff is what the position would have been worth entered at that close. It is not what it would cost right now.