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Broker cutoff, exchange settlement aur beech ka wo waqt jab control aapka nahi hota
Published by The Retail Trader · JUL 24, 2026 · Derivatives (F&O)
Expiry ke din position khud khatam ho jaati hai — par kaun band karta hai, kab band karta hai aur kis bhaav par, ye teen alag sawaal hain aur teenon ka jawaab alag hota hai.
Intraday positions har din broker ke cutoff par square off hoti hain. Ye broker ka rule hai, exchange ka nahi, aur har broker ka time thoda alag ho sakta hai.
Expiry par baaki bachi positions exchange settle karta hai. Index options settlement price par cash mein settle hote hain; stock derivatives delivery mein jaate hain.
Ye wo detail hai jo aakhri ghante mein maayne rakhti hai:
• Settlement aakhri traded price par nahi, aakhri aadhe ghante ke weighted average par hota hai.
• Isliye 3:29 ka spike ya crash poora settlement nahi badalta.
• Bahut door ke strikes expiry ke aakhir mein lagbhag bina bid ke reh jaate hain.
• Aakhri minute mein exit maangna aur bhaav maangna dono ek saath nahi milte.
Expiry ke din exit ka plan pehle se hona chahiye, chahe wo profit mein ho ya loss mein. Aakhri pandrah minute mein liquidity sabse patli aur spread sabse chaura hota hai — us waqt faisla lena sabse bura waqt hai faisla lene ka.
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.