National Stock Exchange of India Limited (NSE) changes the Expiry Day of the Options Contract Cycle in NIFTY BANK (BANKNIFTY) index and Midcap (MIDCPNIFTY) Index.
Change In Weekly Contract Expiry Day of NIFTY BANK (BANKNIFTY) Index.
National Stock Exchange of India Limited (NSE) changes Expiry Day of NIFTY BANK (BANKNIFTY) Index Options Weekly Contract Cycle.
The National Stock Exchange of India Limited (NSE) released a Circular NSE/FAOP/57540 on 12 July 2023 for new changes on the expiry day of the NIFTY BANK (BANKNIFTY) Index Options weekly contract.
Currently, the BANKNIFTY weekly index options expiry day is on every THURSDAY. According to the National Stock Exchange of India Limited (NSE) Circular No NSE/FAOP/57540, effective from the trade date of September 04, 2023, Monday, BANKNIFTY weekly index options expiry day will change from existing THURSDAY to WEDNESDAY.
From these new changes in the NIFTY BANK (BANKNIFTY) weekly index options expiry day, the first WEDNESDAY for NIFTY BANK (BANKNIFTY) weekly options expiry is set on September 06, 2023.
All NIFTY BANK (BANKNIFTY) weekly options contracts shall expire on Wednesday of every week by excluding the expiry week of the month option contract. If there is a holiday on Wednesday then the weekly expiry will be the previous trading day.
There will be no change in the trading cycle, the NIFTY BANK (BANKNIFTY) will continue having 4 weekly expiry options contracts (excluding monthly option contracts), 3 monthly expiration contracts, and 3 quarterly expiries (March, June, Sept & Dec cycle).
These new changes only apply to the weekly options contracts, there will be no change on monthly and quarterly options contracts as their expiry day remains the same as the current which is the last Thursday of the month.
At the end of date September 01, 2023, the expiry date and maturity date for all existing NIFTY BANK (BANKNIFTY) Index weekly options contracts will be changed to Wednesday. The new weekly options contract created for trading on/after the end of date September 01, 2023, shall be created as per the revised expiry days as mentioned above.
This new circular NSE/FAOP/57540 will be effect from the end of date September 01, 2023, and changed options contracts will be available for trading from September 04, 2023.
Refer below annexure for a better understanding of the NIFTY BANK (BANKNIFTY) Index weekly options contract expiry dates which will be available on the trading date of September 4, 2023.
Change In Contract Expiry Day of NIFTY Midcap (MIDCPNIFTY) Index.
The National Stock Exchange of India Limited (NSE) released another Circular NSE/FAOP/57538 on 12 July 2023 for new changes on the options contract expiry day of the NIFTY Midcap (MIDCPNIFTY) Index.
The current expiry day for NIFTY Midcap (MIDCPNIFTY) Index Weekly options contract is Wednesday of every week excluding the expiry week of the monthly option contract and the expiry day for Monthly options contracts is the last Wednesday of the month.
According to the National Stock Exchange of India Limited (NSE) Circular No NSE/FAOP/57538, at the end of day August 16, 2023, the expiry date and maturity date for all existing futures and options contracts of NIFTY Midcap (MIDCPNIFTY) Index will changed to Monday, which means the expiry date of existing options contract maturing on August 23, 2023 (Wednesday) will be preponed to August 21, 2023 (Monday). The monthly option contract will expire on the last Monday of the month.
For both weekly and monthly options contracts, if there is a holiday on Monday then the weekly expiry will be the previous trading day.
As per this new change in the NIFTY Midcap (MIDCPNIFTY) Index options contract, the first Monday expiry will be on August 21, 2023. The Expiry of the NIFTY Midcap (MIDCPNIFTY) Index options contract for August 16, 2023, will remain as it is on Wednesday only, but a new contract created for trading after August 16, 2023, will be having new expiry day which is Monday.
The circular NSE/FAOP/57538 will be effective from the end of day August 16, 2023, and new changed contracts will be available for trading from August 17, 2023. The National Stock Exchange of India Limited (NSE) may change the effective date based on feedback by giving 4 weeks prior notice.
What options expire on Wednesday?
NIFTY BANK (BANKNIFTY) options will expire on Wednesday. According to the National Stock Exchange of India Limited (NSE) Circular No NSE/FAOP/57540, effective from the trade date of September 04, 2023, Monday, NIFTY BANK (BANKNIFTY) weekly index options expiry day will change from existing THURSDAY to WEDNESDAY.
Is expiry date changed from Thursday to Friday?
For NIFTY BANK (BANKNIFTY) the options expire changes from Thursday to Friday have been canceled by the National Stock Exchange of India Limited (NSE). The weekly expiry day for NIFTY BANK (BANKNIFTY) is now changed from Thursday to Wednesday effective from the end of date September 01, 2023.
What is expiry of Bank Nifty options?
Currently, the expiry of Bank Nifty options is every Thursday for weekly expiry, for monthly expiry it is the last Thursday of the month. Effective from the end of date September 01, 2023, the weekly expiry day for NIFTY BANK (BANKNIFTY) will be changing from Thursday to Wednesday. However, there will be no change on the Bank Nifty options monthly expiry day, it will remain on Thursday only.
What is expiry of NIFTY Midcap options?
The current expiry day for NIFTY Midcap (MIDCPNIFTY) Index, the Weekly options contract is Wednesday of every week, and the monthly options contract is the last Wednesday of the month. As per National Stock Exchange of India Limited (NSE) Circular No NSE/FAOP/57538, effective from the end of day August 16, 2023, the expiry day for NIFTY Midcap (MIDCPNIFTY) Index will change from Wednesday to Monday.
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