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Buyer ka haq, seller ki zimmedari, aur automatic exercise ka niyam
Published by The Retail Trader · AUG 02, 2026 · Derivatives (F&O)
Option buyer ke paas ek haq hota hai aur seller ke paas ek zimmedari. Expiry par jab wo haq use hota hai to buyer ke liye use exercise kehte hain aur seller ke liye assignment.
India mein in the money options expiry par apne aap exercise ho jaate hain. Buyer ko kuch karna nahi padta, aur isi wajah se bhoolne wala buyer bhi settlement mein aa jaata hai.
Seller ke liye assignment random allocation se hoti hai. Aapne option becha hai iska matlab hai ki aap us obligation ke liye taiyaar ho, chahe wo kis din aaye ye aapke haath mein na ho.
Ye teen situations mein sabse zyada maayne rakhta hai:
• Stock options mein exercise ka matlab delivery obligation hai, cash nahi.
• Bahut kam in the money option par settlement charges profit se bade ho sakte hain.
• Spread strategy mein ek leg exercise ho aur doosri na ho to risk achanak khul jaata hai.
• Isliye spread ko expiry par bina dekhe chhodna surakshit nahi hai.
Expiry par "position apne aap settle ho jaayegi" wali soch sirf index options mein aaram se chalti hai. Stock derivatives mein wahi soch ek badi delivery obligation ban kar aa sakti hai, jiska paisa aapne kabhi budget nahi kiya tha.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.