Expiry brief · Tuesday, 27 October 2026
What the NIFTY option chain is pricing today, in numbers a trader can act on: the straddle as the expected move, volatility, skew, and four structures priced live. Written by the server at fixed times, every trading day.
Scheduled today
| IST | RELEASE | ACTUAL / FCST | ||
|---|---|---|---|---|
| 19:30 | 🇺🇸 | medium | CB Consumer Confidence | 81.2 |
Full week on the economic calendar →
At the open · 09:20 IST
Taken 09:20 IST · LIVE
NIFTY is at 22,673.20, -0.35% on the day. The 22650 straddle for the 27 Oct expiry costs ₹178.90 (102.00 call + 76.90 put), which is the market pricing a one-standard-deviation move of about ±179 points, ±0.79%, over the 0.3 days to expiry. Read that as the expected range: 22,494 to 22,852. Roughly two expiries in three should finish inside it; the third is where the money is made and lost.
India VIX at 17.43 is elevated: the market is paying up for protection, which is the environment in which defined-risk premium selling is best paid — and in which naked selling gets hurt. Skew is mild (+0.5 IV points): neither side of the chain is paying up, so structures can be built symmetric around spot.
Priced off this chain, an iron condor collects ₹3,146 a lot with a maximum loss of ₹3,354 and breakevens at 22,502 / 22,798. The short strangle underneath it collects ₹6,422 — ₹3,276 more — for a loss that has no ceiling. That difference is the price of sleeping through a gap; decide whether it is worth paying before the market decides for you.
On the other side, the long straddle costs ₹11,628 a lot and needs NIFTY beyond 22,471 or 22,829 at expiry to pay. It bleeds about ₹22,404 a day in time value right now. Buy it only if you expect the market to move more than it is charging for — and know why.
Open interest across the loaded strikes: the largest call open interest above spot sits at 23,000 — the strike writers are defending as resistance; the largest put open interest below sits at 22,500, the floor.
Elsewhere: BANKNIFTY 54,255 with a straddle of ₹467 (±0.86%, expiry 27 Oct); SENSEX 73,289 with a straddle of ₹1,070 (±1.46%, expiry 29 Oct).
Strategies priced off this chain · NIFTY · lot 65
| Structure · legs (per share) | Net / lot | Max profit | Max loss | Breakevens |
|---|---|---|---|---|
| Iron condor −1 22550 PE @ 41.75 · +1 22450 PE @ 21.10 · −1 22750 CE @ 57.05 · +1 22850 CE @ 29.30 | credit ₹3,146 | ₹3,146 | ₹3,354 | 22,502 / 22,798 |
| Short strangle −1 22750 CE @ 57.05 · −1 22550 PE @ 41.75 | credit ₹6,422 | ₹6,422 | unlimited | 22,451 / 22,849 |
| Long straddle +1 22650 CE @ 102.00 · +1 22650 PE @ 76.90 | debit ₹11,628 | unlimited | ₹11,628 | 22,471 / 22,829 |
| Bull call spread +1 22650 CE @ 102.00 · −1 22750 CE @ 57.05 | debit ₹2,922 | ₹3,578 | ₹2,922 | 22,695 |
Re-price any of these live in the builder →
BANKNIFTY and SENSEX
Why the straddle is the expected move — Finch, chapter 6 →
The expiry brief is generated by Finostat's server from its live option chains at fixed times and written up from templates; it is education and market description, not a recommendation. Prices are indicative and can be stale. Derivatives can lose more than you put in. Finostat is not a SEBI-registered adviser.