Expiry brief · Friday, 06 November 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 | ||
|---|---|---|---|---|
| 19:00 | 🇨🇦 | high | Employment Change | 14.6K |
| 19:00 | 🇨🇦 | high | Unemployment Rate | 6.5% |
| 19:00 | 🇺🇸 | high | Average Hourly Earnings m/m | 0.3% |
| 19:00 | 🇺🇸 | high | Non-Farm Employment Change | 65K |
| 19:00 | 🇺🇸 | high | Unemployment Rate | 4.2% |
| 20:30 | 🇺🇸 | medium | Prelim UoM Consumer Sentiment | 48.1 |
| 20:30 | 🇺🇸 | medium | Prelim UoM Inflation Expectations | |
| 21:30 | 🇯🇵 | high | BOJ Gov Ueda Speaks |
Full week on the economic calendar →
At the open · 09:20 IST
Taken 09:20 IST · LIVE
NIFTY is at 24,535.65, -0.00% on the day. The 24550 straddle for the 09 Nov expiry costs ₹361.05 (151.20 call + 209.85 put), which is the market pricing a one-standard-deviation move of about ±361 points, ±1.47%, over the 3.3 days to expiry. Read that as the expected range: 24,175 to 24,897. Roughly two expiries in three should finish inside it; the third is where the money is made and lost.
India VIX at 16.58 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 steep (+5.7 IV points, puts over calls two strikes out): the crowd is paying for downside, so put spreads are richer to sell than call spreads.
Priced off this chain, an iron condor collects ₹4,800 a lot with a maximum loss of ₹1,700 and breakevens at 24,376 / 24,724. The short strangle underneath it collects ₹17,550 — ₹12,750 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 ₹23,468 a lot and needs NIFTY beyond 24,189 or 24,911 at expiry to pay. It bleeds about ₹3,601 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 25,000 — the strike writers are defending as resistance; the largest put open interest below sits at 24,400, the floor.
Strategies priced off this chain · NIFTY · lot 65
| Structure · legs (per share) | Net / lot | Max profit | Max loss | Breakevens |
|---|---|---|---|---|
| Iron condor −1 24450 PE @ 160.25 · +1 24350 PE @ 118.20 · −1 24650 CE @ 109.75 · +1 24750 CE @ 77.95 | credit ₹4,800 | ₹4,800 | ₹1,700 | 24,376 / 24,724 |
| Short strangle −1 24650 CE @ 109.75 · −1 24450 PE @ 160.25 | credit ₹17,550 | ₹17,550 | unlimited | 24,180 / 24,920 |
| Long straddle +1 24550 CE @ 151.20 · +1 24550 PE @ 209.85 | debit ₹23,468 | unlimited | ₹23,468 | 24,189 / 24,911 |
| Bull call spread +1 24550 CE @ 151.20 · −1 24650 CE @ 109.75 | debit ₹2,694 | ₹3,806 | ₹2,694 | 24,592 |
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.