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SENSEX · Thu 24 Sep 2026 expiry · one lot is 20 · 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.

What it is worth at expiry

0-18,70416,74773,900now 74,29574,792

Profit and loss in rupees for one lot at settlement, across the index between 72,414 and 75,781. The ring marks where it breaks even; the upright lines are the strikes in the position.

The numbers

Premium received
₹17,830
Breaks even at
74,792
Most it can make
₹17,830
Most it can lose
grows with the index — no limit

Greeks, for the whole position

Delta
-13.1
Gamma
-0.0073
Vega, per volatility point
-702.0
Theta, per day
620.9

Delta, gamma and vega are for the whole position at 74,295, in rupees per unit of the move named. Theta is what one day costs or earns at that price, all else held still.

The legs

LegPremiumLotsCostImplied volatility
sell 73,900 CE891.501+₹17,83010.6%remove
Net+₹17,830

What each structure is exposed to

Fri 18 Sep 2026
  • Options against their own yeardearer than 32 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 onThu 24 Sep 2026
StructurePaid or receivedDeltaGammaTheta, a dayVega, a pointMost it can lose
Long callpays ₹12,021
10.05.2 · 14.8
0.00810.0066 · 0.0065
-658.1-529.1 · -539.2
760.0611.1 · 622.7
₹12,021Open →
Long putpays ₹5,359
-10.0-14.5 · -5.5
0.00750.0063 · 0.0062
-704.1-581.7 · -591.9
760.0627.8 · 638.9
₹5,359Open →
Short callreceives ₹12,021
-10.0-5.2 · -14.8
-0.0081-0.0066 · -0.0065
658.1529.1 · 539.2
-760.0-611.1 · -622.7
no limitOpen →
Short putreceives ₹5,359
10.014.5 · 5.5
-0.0075-0.0063 · -0.0062
704.1581.7 · 591.9
-760.0-627.8 · -638.9
no limitOpen →
Call spreadpays ₹1,253
0.80.6 · 0.7
0.00000.0004 · -0.0004
-4.4-37.4 · 32.0
3.842.1 · -38.2
₹1,253Open →
Put spreadpays ₹628
-0.7-0.7 · -0.6
0.0001-0.0003 · 0.0004
3.839.2 · -27.1
3.5-35.7 · 35.3
₹628Open →
Short straddlereceives ₹17,380
0.09.4 · -9.3
-0.0156-0.0129 · -0.0127
1,362.21,110.8 · 1,131.1
-1,520.0-1,238.9 · -1,261.6
no limitOpen →
Long straddlepays ₹17,380
0.0-9.4 · 9.3
0.01560.0129 · 0.0127
-1,362.2-1,110.8 · -1,131.1
1,520.01,238.9 · 1,261.6
₹17,380Open →
Short stranglereceives ₹13,649
0.19.3 · -9.1
-0.0153-0.0126 · -0.0128
1,338.81,096.8 · 1,124.4
-1,491.1-1,212.9 · -1,258.8
no limitOpen →
Iron condorreceives ₹3,057
-0.20.4 · -0.6
-0.0010-0.0008 · -0.0003
60.226.5 · 19.8
-81.6-51.9 · -24.7
₹943Open →
Call butterflypays ₹309
-0.10.2 · -0.2
-0.0003-0.0002 · -0.0001
24.311.1 · 9.1
-30.7-17.8 · -10.0
₹309Open →

One lot of SENSEX, 20 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 639 points — down first, then up. Halfway to expiry, on Mon 21 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

CallsStrikePuts
Open interestPremiumAddAddPremiumOpen interest
——72,700buysell31.752,65,760
2801,950.75buysell72,800buysell36.401,43,860
9401,763.90buysell72,900buysell41.6080,280
8,3401,677.45buysell73,000buysell47.805,24,720
5601,590.95buysell73,100buysell54.652,18,080
1,5801,493.15buysell73,200buysell62.901,43,860
2,9601,402.80buysell73,300buysell71.801,50,540
4,1801,320.15buysell73,400buysell82.301,10,760
21,5601,222.70buysell73,500buysell93.853,59,480
10,0401,142.45buysell73,600buysell107.451,02,240
7,9601,058.75buysell73,700buysell122.851,09,940
8,960976.60buysell73,800buysell140.051,42,220
14,040891.50buysell73,900buysell160.151,26,840
78,600816.00buysell74,000buysell182.554,05,100
33,080742.65buysell74,100buysell207.553,70,000
46,140668.65buysell74,200buysell236.553,27,640
1,18,740601.05buysell74,300buysell267.953,13,780
2,29,100538.40buysell74,400buysell303.204,61,400
8,46,060474.90buysell74,500buysell342.5510,09,000
3,19,140421.70buysell74,600buysell383.654,82,820
2,18,940369.45buysell74,700buysell430.651,95,740
1,50,300321.50buysell74,800buysell484.701,01,200
1,98,180277.40buysell74,900buysell541.1547,240
5,01,640238.90buysell75,000buysell603.102,23,720
2,15,800204.10buysell75,100buysell668.6054,140
1,24,680172.20buysell75,200buysell736.0524,260
1,03,180146.40buysell75,300buysell811.4014,660
90,240122.00buysell75,400buysell888.1516,460
3,06,400100.80buysell75,500buysell960.5048,360
1,29,84083.95buysell75,600buysell1,043.504,600
1,22,88069.90buysell75,700buysell1,123.107,180
94,68056.85buysell75,800buysell1,216.903,140
93,88046.10buysell75,900buysell1,310.801,500
7,77,32037.80buysell76,000buysell1,398.651,59,360
1,77,70031.20buysell76,100buysell1,493.851,540
1,55,48025.85buysell76,200buysell1,881.904,240
2,91,92021.10buysell76,300buysell1,974.651,700
1,00,20018.10buysell76,400buysell1,779.651,220
3,55,44015.70buysell76,500buysell1,874.5038,180
75,74013.40buysell76,600buysell2,258.35880
1,46,24011.30buysell76,700buysell2,354.401,660

Premiums are the settled close for Thu 24 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.