Options Basics
Expiry
The date an option contract ends — and the clock that governs its entire value.
Definition
Expiry is the date on which an option contract ends. After expiry the option is settled and ceases to exist — any remaining time value has decayed to zero, leaving only intrinsic value (if any).
Indian market expiries
- NSE index options (NIFTY, Bank Nifty, etc.) — weekly and monthly expiries.
- NSE stock options — monthly (last Thursday, subject to exchange rules).
- MCX commodity options — monthly, typically mid-month (see MCX theta decay).
Why it matters
Time to expiry (often shown as DTE — days to expiry) drives time value and theta. Decay accelerates into expiry, and gamma spikes — which is why expiry-day options can move violently. Watch liquidity and max pain as expiry nears.
Track every expiry live
Switch expiries on TradePulse's live option chain and see how OI, IV and max pain shift.