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Expiry day

What is expiring, and where the writers sit

The nearest contract expires in 4 sessions — this page is arranged for that session, not for today.

Option chain as of Fri 18 Sep 2026 · index close Fri 18 Sep 2026

NIFTY

CSV
expires
Tue 22 Sep 2026 · weekly
sessions to go
4
where it closed
23,346.40
at the money
23,350
heaviest calls
24,000
heaviest puts
23,300
most value expires at
23,350
put-call ratio
1.15
Open interest by strikeWeekly expiry · Tue 22 Sep · 4 days to go · PCR 1.15
calls writtenputs written23,50023,500 calls — 92,26,165 contracts open23,40023,400 calls — 87,68,240 contracts open23,60023,600 calls — 79,09,005 contracts open23,30023,300 puts — 1,26,86,570 contracts open23,20023,200 puts — 96,01,865 contracts open23,25023,250 puts — 64,90,705 contracts open23,346

The heaviest strikes and the point where most value expires are where positions SIT. This desk tested whether they act as barriers and the answer came back negative, which is written up in full.

BANKNIFTY

CSV
expires
Tue 29 Sep 2026 · monthly
sessions to go
11
where it closed
56,358.70
at the money
56,500
heaviest calls
58,000
heaviest puts
57,500
most value expires at
57,100
put-call ratio
0.97
Open interest by strikeMonthly expiry · Tue 29 Sep · 11 days to go · PCR 0.97
calls writtenputs written57,00057,000 calls — 10,76,340 contracts open56,50056,500 calls — 6,27,270 contracts open56,00056,000 calls — 4,05,600 contracts open56,00056,000 puts — 9,41,550 contracts open57,00057,000 puts — 6,99,360 contracts open56,50056,500 puts — 6,74,220 contracts open56,359

The heaviest strikes and the point where most value expires are where positions SIT. This desk tested whether they act as barriers and the answer came back negative, which is written up in full.

SENSEX

CSV
expires
Thu 24 Sep 2026 · monthly
sessions to go
6
where it closed
74,294.96
at the money
74,700
heaviest calls
74,500
heaviest puts
74,500
most value expires at
74,600
put-call ratio
1.22
Open interest by strikeMonthly expiry · Thu 24 Sep · 6 days to go · PCR 1.22
calls writtenputs written74,50074,500 calls — 8,46,060 contracts open75,00075,000 calls — 5,01,640 contracts open74,60074,600 calls — 3,19,140 contracts open74,50074,500 puts — 10,09,000 contracts open74,60074,600 puts — 4,82,820 contracts open74,40074,400 puts — 4,61,400 contracts open74,295

The heaviest strikes and the point where most value expires are where positions SIT. This desk tested whether they act as barriers and the answer came back negative, which is written up in full.

What expiry day is, and is not

An Indian index option settles in cash against a level computed from a window near the close, so no single print decides what every contract pays. Time value that was worth something on Monday is worth nothing by the afternoon — which is most of what traders describe as expiry behaviour.

How settlement works