F&O expiry kya hai, weekly vs monthly expiry, expiry day trading strategies — complete Hindi guide Indian derivatives market ke liye.
Published by The Retail Trader · AUG 06, 2026 · Features
F&O expiry kya hai, weekly vs monthly expiry, expiry day trading strategies — complete Hindi guide Indian derivatives market ke liye.
F&O ka matlab hai Futures and Options. Expiry ka matlab hai ki contract ka last din — us din ke baad contract exist nahi karta.
Simple definition: > F&O expiry = Contract ka last din. Is din ke baad ya toh contract settle hota hai (cash) ya exercise hota hai.
Indian Market Expiry Schedule:
• Nifty Weekly — Expiry Day: Every Thursday, Type: Cash settled
• Nifty Monthly — Expiry Day: Last Thursday of month, Type: Cash settled
• Bank Nifty Weekly — Expiry Day: Every Wednesday, Type: Cash settled
• Bank Nifty Monthly — Expiry Day: Last Wednesday of month, Type: Cash settled
• Stock F&O — Expiry Day: Last Thursday of month, Type: Physical delivery
• Sensex — Expiry Day: Every Friday (weekly), Type: Cash settled
Characteristics:
• Har hafte naya contract
• Bahut fast time decay (theta)
• Low premium (cheap options)
• High gamma risk (ATM options volatile)
• Intraday traders ka favorite
Best for: Experienced traders, intraday, scalping
Avoid if: Beginner, swing trader, positional
Characteristics:
• Mahine ka ek contract
• Slower time decay
• Higher premium
• Lower gamma risk
• Position traders use karte hain
Best for: Beginners, swing traders, options sellers
Avoid if: Intraday trader (kam volatility)
Expiry Day Characteristics:
• Premium bahut fast girta hai (theta decay maximum)
• ATM options bahut volatile hain (gamma high)
• Max Pain ki taraf market move karta hai
• Volume bahut high hota hai
• Spread bahut wide hota hai (liquidity kam)
Expiry Day Numbers (Typical):
• Avg range — Nifty Expiry: 150-300 points, Bank Nifty Expiry: 400-800 points
• ATM option move — Nifty Expiry: 50-150% intraday, Bank Nifty Expiry: 100-300% intraday
• Volume spike — Nifty Expiry: 3-5x normal, Bank Nifty Expiry: 5-10x normal
• Max Pain accuracy — Nifty Expiry: 70-80%, Bank Nifty Expiry: 60-70%
Setup:
• Expiry day morning mein ATM Call + ATM Put sell karo
• Max Pain level identify karo
• Market Max Pain ki taraf jaayega → dono options ka premium girega
• Buy back at lower price → Profit
Example:
• Nifty at 20,000
• Sell 20,000 CE @ ₹80
• Sell 20,000 PE @ ₹70
• Total premium: ₹150
Agar Nifty 20,000 pe close kare:
• Both expire worthless
• Profit: ₹150 × 25 = ₹3,750 per lot
Risk: Nifty bahut zyada move kare toh unlimited loss. Stop loss zaroori.
Setup:
• OTM Call sell + Further OTM Call buy
• OTM Put sell + Further OTM Put buy
• Profit zone: Range between sold strikes
Better than straddle: Risk limited hai. Agar market range se bahar jaaye toh maximum loss defined hai.
Setup:
• Market trend identify karo (bullish ya bearish)
• OTM option buy karo direction ke hisaab se
• Expiry day pe fast move expected
• Quick profit book karo (30-60 minutes)
Risk: Bahut volatile hai. Stop loss tight rakhao. Position size chhota rakhao.
Setup:
• ATM options lo (Call ya Put — direction ke hisaab se)
• 10-20 points ka target
• 5-10 points ka stop loss
• Multiple trades in a day
Ye strategy sirf experienced traders ke liye hai. Bahut fast execution chahiye.
Rules (Non-Negotiable):
• Max 1% risk per trade (expiry day pe zyada risky hai)
• Position size half of normal day
• Stop loss tight rakhao (30-50% of premium)
• No new entries after 2:30 PM (settlement time)
• All positions close by 3:15 PM (auto square-off)
❌ OTM options hold till expiry (worthless ho jaayega) ❌ ATM straddle without stop loss ❌ Expiry day pe new strategy try karna ❌ News ke basis pe expiry trade ❌ Expiry day pe averaging down
Max Pain wo strike price hai jahan maximum option buyers ko loss hoga expiry pe. Market Max Pain ki taraf move karta hai expiry day pe.
Kaise Calculate Karo?:
• Option chain dekho
• Har strike pe total OI calculate karo (calls + puts)
• Jahan sabse kam total loss hoga option buyers ko = Max Pain
Max Pain Trading:
• Expiry day morning mein Max Pain identify karo
• Market Max Pain se bahut upar hai → SHORT (expect neeche aayega)
• Market Max Pain se bahut neeche hai → LONG (expect upar jaayega)
• Target: Max Pain level
Accuracy: ~70-80% on Nifty expiry days
Ye aath baatein dhyaan mein rakho:
• Wed Aug 6 — Expiry: Bank Nifty Weekly, Contract: Weekly
• Thu Aug 7 — Expiry: Nifty Weekly, Contract: Weekly
• Wed Aug 13 — Expiry: Bank Nifty Weekly, Contract: Weekly
• Thu Aug 14 — Expiry: Nifty Weekly, Contract: Weekly
• Wed Aug 20 — Expiry: Bank Nifty Weekly + Monthly, Contract: Weekly + Monthly
• Thu Aug 21 — Expiry: Nifty Weekly + Monthly, Contract: Weekly + Monthly
• Wed Aug 27 — Expiry: Bank Nifty Weekly, Contract: Weekly
• Thu Aug 28 — Expiry: Nifty Weekly, Contract: Weekly
Ye baatein dhyaan mein rakho:
• 📌 F&O EXPIRY QUICK REFERENCE
• EXPIRY SCHEDULE:
• 📊 Nifty Weekly → Every Thursday
• 📊 Bank Nifty Weekly → Every Wednesday
• 📊 Stock F&O Monthly → Last Thursday
• 📊 Nifty Monthly → Last Thursday
• EXPIRY DAY CHARACTERISTICS:
• 📊 Premium fast decay (theta maximum)
• 📊 ATM options bahut volatile (gamma high)
• 📊 Max Pain ki taraf market move karta hai
• 📊 Volume 3-5x normal
• STRATEGIES:
• ✅ Sell ATM Straddle → Premium decay se profit
• ✅ Iron Condor → Limited risk version
• ✅ Directional OTM → Quick intraday play
• ✅ Scalping → Small targets, multiple trades
• MAX PAIN:
• 📊 Jahan sabse kam option buyer loss hoga
• 📊 Market 70-80% Max Pain ki taraf jaata hai
• 📊 Expiry day morning mein identify karo
• RISK MANAGEMENT:
• 💰 Max 1% risk per trade (expiry day)
• 💰 Position size half of normal
• 💰 Stop loss 30-50% of premium
• 💰 No entries after 2:30 PM
• 💰 Close all by 3:15 PM
• DON'TS:
• ❌ OTM options hold till expiry
• ❌ ATM straddle without stop loss
• ❌ New strategy try on expiry
• ❌ News-based expiry trades
• ❌ Averaging down on expiry
Ye paanch baatein dhyaan mein rakho:
• Option Chain Kaise Padhein?
• Option Greeks Kya Hain?
• Implied Volatility Kya Hai?
• Iron Condor Strategy
• Option Buyer Vs Seller Ganit
The Retail Trader — educational market analysis. Not investment advice.
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.