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What F&O expiry is, weekly vs monthly expiry, expiry day trading — a complete guide.
Published by The Retail Trader · AUG 06, 2026 · Features
What F&O expiry is, weekly vs monthly expiry, expiry day trading — a complete guide.
F&O expiry means the last day of a futures or options contract — after that day the contract is settled.
Expiry Schedule:
• Nifty Weekly: Every Tuesday
• Bank Nifty Weekly: Discontinued (Nov 2024)
• Stock F&O: Last Tuesday of month
• Nifty Monthly: Last Tuesday of month
Keep these five points in mind:
• Premium decay — Maximum theta loss
• Volatility — Very high (gamma risk)
• Volume — 3-5x normal
• Max Pain — Market gravitates toward it
• Spread — Wide (low liquidity)
Strategy 1: Sell ATM Straddle:
• Sell ATM Call + ATM Put
• Profit from rapid time decay
• Stop loss essential (unlimited risk)
Strategy 2: Iron Condor (Limited Risk):
• OTM Call spread + OTM Put spread
• Defined risk, defined reward
• Best for range-bound expiry
Strategy 3: Max Pain Trading:
• Identify Max Pain level
• Trade toward Max Pain
• 70-80% accuracy on Nifty
Keep these four points in mind:
• Max risk per trade — 1%
• Position size — Half of normal
• No new entries — After 2:30 PM
• Close all positions — By 3:15 PM
Keep this in mind:
• 📌 F&O EXPIRY QUICK REFERENCE
• SCHEDULE:
• 📊 Nifty Weekly: Tuesday
• 📊 Bank Nifty Weekly: Discontinued (Nov 2024)
• 📊 Stock F&O: Last Tuesday
• CHARACTERISTICS:
• 📊 Maximum theta decay
• 📊 High gamma risk
• 📊 Volume 3-5x normal
• 📊 Max Pain gravity
• STRATEGIES:
• ✅ Sell ATM straddle
• ✅ Iron condor
• ✅ Max Pain trading
• ✅ Scalping (experienced only)
• RISK:
• 💰 Max 1% risk per trade
• 💰 Half position size
• 💰 No entries after 2:30 PM
• 💰 Close by 3:15 PM
• AVOID:
• ❌ OTM options hold till expiry
• ❌ ATM straddle without stop loss
• ❌ New strategy on expiry day
• ❌ Averaging down
Keep these four points in mind:
• How to Read an Option Chain?
• What Are Option Greeks?
• Iron Condor Strategy
• What Is Implied Volatility?
The Retail Trader — educational market analysis. Not investment advice.
This article is for educational purposes only — it is not a buy or sell recommendation, makes no claim of guaranteed returns, and is not advisory. Rules, rates and mechanics are changed from time to time by the exchanges, SEBI and the RBI, so verify every number yourself with your broker or the official source.