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Bank Nifty expiry day strategy, monthly expiry (last Tuesday) trading, options — a complete guide.
Published by The Retail Trader · AUG 01, 2026 · Features
Bank Nifty expiry day strategy, monthly expiry (last Tuesday) trading, options — a complete guide.
NSE discontinued the Bank Nifty weekly contract in Nov 2024; Bank Nifty options now expire monthly, on the last Tuesday.
Key Facts:
• Expiry day: Last Tuesday of the month (monthly only)
• Lot size: 15
• Settlement: Cash
• Premium decay: Extreme (theta maximum)
Keep these five points in mind:
• Theta decay — Maximum (premium falls fast)
• Gamma — Highest (ATM options volatile)
• Volume — 5-10x normal
• Range — 400-800 points typical
• Max Pain — Market gravitates toward it
Strategy 1: Sell ATM Straddle (Most Popular):
• Sell ATM Call + ATM Put
• Profit from rapid time decay
• Stop loss: 1.5x premium collected
• Best entry: 9:45-10:30 AM
Strategy 2: Iron Condor (Limited Risk):
• OTM Call spread + OTM Put spread
• Defined risk, defined reward
• Width: 500-800 points
Strategy 3: Max Pain Trading:
• Identify Max Pain level
• Trade toward Max Pain
• Entry: When market is away from Max Pain
Strategy 4: Expiry Scalping:
• ATM options
• Quick 10-20 point moves
• Multiple trades
• Very risky, experienced only
Keep these five points in mind:
• Max risk per trade — 1%
• Position size — Half of normal
• No new entries — After 2:30 PM
• Close all — By 3:15 PM
• Stop loss — Mandatory
Keep these five points in mind:
• Expiry day — Bank Nifty: last Tuesday (monthly), Nifty 50: Tuesday (weekly)
• Volatility — Bank Nifty: 3x Nifty, Nifty 50: Moderate
• Range — Bank Nifty: 400-800 pts, Nifty 50: 100-200 pts
• Premium — Bank Nifty: Higher, Nifty 50: Lower
• Best for — Bank Nifty: Experienced, Nifty 50: Beginners
Keep these points in mind:
• 📌 BANK NIFTY EXPIRY
• SCHEDULE: Every Wednesday
• CHARACTERISTICS:
• 📊 Maximum theta decay
• 📊 Highest gamma
• 📊 Volume 5-10x normal
• 📊 Range 400-800 points
• STRATEGIES:
• ✅ Sell ATM straddle
• ✅ Iron condor
• ✅ Max Pain trading
• ✅ Scalping (experienced only)
• RISK:
• 💰 Max 1% per trade
• 💰 Half position size
• 💰 No entries after 2:30 PM
• 💰 Close by 3:15 PM
• BANK NIFTY vs NIFTY:
• 📊 Bank Nifty: Wednesday, 3x volatile, experienced
• 📊 Nifty: Thursday, moderate, beginners
Keep these four points in mind:
• How Does F&O Expiry Work?
• How to Read an Option Chain?
• Iron Condor Strategy
• What Are Option Greeks?
The Retail Trader — educational market analysis. Not investment advice.
This article is educational only — it is not a buy or sell recommendation, makes no claim of guaranteed returns, and is not advisory. Rules, rates and mechanics change from time to time at the exchanges, SEBI and RBI, so verify every number yourself with your broker or the official source.