Expiry brief · Wednesday, 28 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 | ||
|---|---|---|---|---|
| 06:00 | 🇦🇺 | high | CPI m/m | 0.7% |
| 06:00 | 🇦🇺 | high | CPI y/y | 4.2% |
| 06:00 | 🇦🇺 | high | Trimmed Mean CPI m/m | 0.3% |
| 06:30 | 🇳🇿 | high | Official Cash Rate | 3.00% |
| 06:30 | 🇳🇿 | high | RBNZ Rate Statement | |
| 07:30 | 🇳🇿 | high | RBNZ Press Conference | |
| 18:00 | 🇬🇧 | high | Annual Budget Release | |
| 19:15 | 🇨🇦 | high | BOC Monetary Policy Report | |
| 19:15 | 🇨🇦 | high | BOC Rate Statement | |
| 19:15 | 🇨🇦 | high | Overnight Rate | 2.50% |
| 20:00 | 🇨🇦 | high | BOC Press Conference | |
| 23:30 | 🇺🇸 | high | Federal Funds Rate | 4.00% |
| 23:30 | 🇺🇸 | high | FOMC Statement |
Full week on the economic calendar →
At the open · 09:20 IST
Taken 09:20 IST · LIVE
NIFTY is at 22,565.95, -0.81% on the day. The 22550 straddle for the 03 Nov expiry costs ₹425.50 (219.60 call + 205.90 put), which is the market pricing a one-standard-deviation move of about ±426 points, ±1.89%, over the 6.3 days to expiry. Read that as the expected range: 22,140 to 22,991. Roughly two expiries in three should finish inside it; the third is where the money is made and lost.
India VIX at 17.23 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 (+2.3 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 ₹5,142 a lot with a maximum loss of ₹1,358 and breakevens at 22,371 / 22,729. The short strangle underneath it collects ₹21,629 — ₹16,487 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 ₹27,658 a lot and needs NIFTY beyond 22,124 or 22,976 at expiry to pay. It bleeds about ₹2,211 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.
Strategies priced off this chain · NIFTY · lot 65
| Structure · legs (per share) | Net / lot | Max profit | Max loss | Breakevens |
|---|---|---|---|---|
| Iron condor −1 22450 PE @ 161.65 · +1 22350 PE @ 124.50 · −1 22650 CE @ 171.10 · +1 22750 CE @ 129.15 | credit ₹5,142 | ₹5,142 | ₹1,358 | 22,371 / 22,729 |
| Short strangle −1 22650 CE @ 171.10 · −1 22450 PE @ 161.65 | credit ₹21,629 | ₹21,629 | unlimited | 22,117 / 22,983 |
| Long straddle +1 22550 CE @ 219.60 · +1 22550 PE @ 205.90 | debit ₹27,658 | unlimited | ₹27,658 | 22,124 / 22,976 |
| Bull call spread +1 22550 CE @ 219.60 · −1 22650 CE @ 171.10 | debit ₹3,152 | ₹3,348 | ₹3,152 | 22,598 |
Re-price any of these live in the builder →
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.