What is the SAIL futures lot size?

One SAIL futures contract is 4700 shares, a contract value of about Rs 846,235 at the current futures price. Lot sizes are set by NSE and revised periodically.

What is basis in SAIL futures?

Basis is the difference between the futures price and the spot price. A futures premium usually reflects the cost of carry; a discount can reflect bearish positioning or upcoming dividends. SAIL basis is shown on this page and changes daily.

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Futures

Steel Authority of India Ltd. (Metals & Mining) — near-month futures price, basis to spot, open interest, contract specs and the SAIL options picture.

Futures

180.05

-1.16%

Spot

180.00

Basis

+0.05

+0.03%

Futures OI

—

lots

Lot Size

4,700

Contract Value

₹846,235

SAIL futures snapshot

Steel Authority of India Ltd. (SAIL) near-month futures last settled at ₹180.05, down 1.16% on the day. Against a spot of ₹180.00, the contract is trading at a premium of ₹0.05 (0.03%). A futures premium typically reflects the cost of carry (financing minus dividends); a persistent discount can signal bearish positioning, heavy hedging or an upcoming dividend. One lot is 4,700 shares, a contract value of about ₹846,235.

SAIL derivatives snapshot

On the options side, SAIL's nearest expiry (2026-06-30) shows a put-call ratio of 0.47, max pain at 185 and an ATM implied volatility of 50.6%. The heaviest call open interest sits at 190 (resistance) and the heaviest put OI at 180 (support). See the full SAIL option chain.

Contract specifications

Exchange & segment	NSE — Equity Futures (F&O)
Sector	Metals & Mining
Lot size	4,700 shares
Approx. contract value	₹846,235
Expiry	Monthly (last Thursday) — near, next & far series
Settlement	Cash settled

How SAIL futures work

A SAIL futures contract is an agreement to buy or sell 4,700 SAIL shares at a set price on a future date. You don't pay the full contract value — only a margin (the exchange's VaR + ELM), which is what gives futures their leverage. Work out the exact figure with the equity margin calculator.

Two ideas matter most: basis (futures minus spot, which converges to zero by expiry) and rollover (moving a position to the next series as expiry nears — heavy rollover with rising OI signals continued interest). Positions are marked-to-market daily, so profit and loss settle into your account each session.

Futures vs options on SAIL

Futures give linear, leveraged exposure with unlimited profit and loss; options let you define risk (a buyer's loss is capped at the premium) and express views on volatility. Many traders use the SAIL option chain for the OI walls and sentiment, then trade futures or options around those levels. Size any trade with the position size calculator.

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