IMPORTANT 🔔 BANK NIFTY Lot Size Revision for Sept ‘23, Dec ‘23, Mar ‘24 expiries
As per the Exchange circular, the lot size of BANK NIFTY is being revised from 25 to 15 and here’s what you need to know.
- - Contracts after June 2023 monthly expiry will have revised market lot
- - The lot size of all existing BANKNIFTY long term option contracts (with expiry of over 3 months i.e Sept ‘23, Dec ‘23, Mar ‘24) shall be revised from 25 to 15 after expiry of June 2023 contracts (i.e. June 30, 2023)
What does it means for you:
If you have an open position in BANKNIFTY in Sept ‘23, Dec ‘23, Mar ‘24 expiry date, you will have to do one of the following before 30th June 2023:
- - Convert the position into multiples of 15
- - Have position(s) in multiples of 15 - here your current 3 lots (25 x 3 = 75) will then become 5 lots (15 x 5 = 75)
- - Square off the existing position, if it is not in multiples of 15
If your remaining quantity is not in multiples of 15, you will not be able to square off your position and they will expire worthless.
Kindly plan your trades accordingly. You can also get more details by reading the circular here:
Looking for more information? Learn more about lot sizes and what they mean here.
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