Announcements

Please note, the following securities will be removed from SEBI’s list of approved securities for Margin Pledge.

As a result, you will not receive margins for F&O trading against these scrips starting Friday, 30 Jan 2026: Click here for scrip details

NOTE: If you have pledged any of the above, starting 30 Jan 2026, you will not receive margins pledge benefit and you will be required to fulfil the full margin requirement. If you’re unable to pay, we will have to automatically square off your positions to recover the amount by 1 Feb 2026.

We have attached a list of these stocks for your reference.

Please review your portfolio and make necessary adjustments to avoid any inconvenience. Thank you for your understanding and cooperation.

Please note that all ITM, ATM & CTM NATURALGAS and NATURALGASMINI option contracts expiring today, 22nd January 2026, will be converted into futures contracts. You can create fresh positions only until 9 PM today.

To avoid the square-off of your positions, please ensure you maintain sufficient margin for the futures contracts before 9 PM today if you have any open Positions.

As per the SEBI mandate, physical settlement is compulsory if a trader holds a position in any Stock F&O contracts on the expiry date.

What is Physical Settlement? In a Stock F&O contract, when an open position is not squared off by its expiry date, Physical Settlement takes place. This implies that a trader must physically deliver or take delivery of Stocks to settle open transactions, rather than settling them with cash.

Long positions of 1 lot of Reliance, 250 quantity at ₹2000, i.e. ₹5 lakh contract value. F&O = 20% charges, i.e. ₹1,00,000. This means you are required to give ₹1 lakh. But if you opt for physical settlement, you’ll have to provide the complete contract value of ₹5 lakh.

Short positions of 1 lot Reliance 250 quantity at ₹2000, i.e. ₹5 lakh contract value. F&O = 20% charges, i.e. ₹1,00,000. This means you are required to give ₹1 lakh. However, if you opt for physical settlement, you must hold 250 shares of Reliance in your Holdings and maintain a ₹1 lakh margin until the expiry date.

Long - 1 lot of Reliance, 250 quantity for a strike price of ₹2000 Call (CE) Options. If the underlying price of Reliance is greater than the strike price of ₹2000, then the contract is said to be ITM (In-The-Money). If you wish to go for physical settlement, you need to maintain a free ledger balance of ₹5 Lakh in your account; otherwise, physical settlement will not be done.

Long - 1 lot of Reliance, 250 quantity for Strike price of ₹2000 Put (PE) Options. If the underlying price of Reliance is less than the strike price of ₹2000, then the contract is said to be ITM (In-The-Money). If you wish to go for physical settlement, you need to provide the Stocks (shares) equal to the lot quantity positioned to be available in the Demat account; otherwise, physical settlement will not be done.

Please note --

To opt for physical settlement on Upstox, you need to provide your consent first and here are the details for the same:

Your position will automatically be squared off on expiry day at 12:00 PM in case:

Delivery margins would be applicable as per Exchange norms on all the existing long ITM (In The Money) stock option positions in a staggered manner, as explained below:

*If you have opted for physical settlement, you would be required to fulfil the entire funds (contract value) / holdings requirement by EOD on Sunday, 25 January 2026.

In the case of spread contracts, you are advised to provide margins for both legs since the risk of one leg being squared off by you at any time would result in the physical settlement of the other leg.

Since there is a substantial increase in effort and risk to settle these F&O positions resulting in physical delivery, if F&O positions result in physical delivery, brokerage will be 0.25% of the physically settled value. For all the netted-off positions, brokerage will be 0.1% of the physically settled value. All physically settled contracts (Futures & Options) will also carry an applicable Exchange charge.

And that’s all. Keep a watchful eye on this page for more updates from Upstox!

Please note that all ITM, ATM & CTM CRUDEOIL and CRUDEOILMINI option contracts expiring today, 14th January 2026, will be converted into futures contracts. You can create fresh positions only until 9 PM today.

To avoid the square-off of your positions, please ensure you maintain sufficient margin for the futures contracts before 9 PM today if you have any open Positions.

On account of municipal corporation elections in Maharashtra, there will be a trading holiday on Thursday, 15 Jan 2026.

If you have any queries, you can raise a ticket on the Upstox app or the web platform.