Rollover ka mechanism, rollover percentage kya batata hai, aur cost of carry
Published by The Retail Trader · AUG 09, 2026 · Features
Har monthly expiry ke aas-paas ek shabd baar-baar sunai deta hai: rollover. Uska matlab bahut seedha hai, par jo usse nikala jaata hai wo utna seedha nahi.
Aapki position current month ke contract mein hai aur wo expire hone wala hai, par view abhi zinda hai. To aap current month ki position band karke agle month ke contract mein wahi position khol lete ho. Yahi rollover hai — do trades, ek intent.
Ye ek hi order mein spread ki tarah bhi kiya ja sakta hai, taaki dono legs ek saath lagein aur beech mein price na bhaage.
Expiry ke aas-paas ye aankda aata hai ki kitne prishat positions agle mahine mein shift hui. Zyada rollover ka matlab hai ki log apna view carry kar rahe hain — commitment bana hua hai. Kam rollover ka matlab hai log book karke nikal rahe hain.
Par akela number kaafi nahi. Rollover ke saath ye bhi dekha jaata hai ki roll long side par hua ya short side par, aur us dauran price kya kar raha tha. High rollover ek girte market mein bearish commitment bhi ho sakta hai.
Agle mahine ka futures aksar current se thoda alag price par hota hai. Ye farq interest aur dividend jaisi cheezon se aata hai, aur ise cost of carry kehte hain. Roll karte waqt ye farq aapki jeb se jaata hai ya aapki jeb mein aata hai.
Roll karte waqt teen kharche:
• Cost of carry — do contracts ke price ka farq.
• Do trades ke charges — purana band karna aur naya kholna, dono par.
• Bid-ask spread — dono legs par, aur expiry ke aakhri din ye chaudha ho sakta hai.
Rollover ko aadat mat banao. Bahut log isliye roll karte hain kyunki position loss mein hai aur wo loss book nahi karna chahte. Ye rollover nahi hai — ye ek galat trade ko agle mahine tak kheenchna hai, aur uspar aapne extra kharcha bhi kar diya.
Roll ka jawaz sirf ek hai: agar aaj aapke paas position nahi hoti, to kya aap ise agle mahine ke liye naya kholte? Agar haan, to roll karo. Agar nahi, to wo exit hai, roll nahi.
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.