Expiry brief · Tuesday, 10 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 | ||
|---|---|---|---|---|
| 09:15 | 🇮🇳 | holiday | NSE closed: Diwali-Balipratipada | |
| 14:30 | 🇺🇸 | medium | FOMC Member Waller Speaks | |
| 19:00 | 🇺🇸 | high | Core CPI m/m | 0.2% |
| 19:00 | 🇺🇸 | high | CPI m/m | 0.3% |
Full week on the economic calendar →
At the open · 09:20 IST
Taken 09:20 IST · LIVE
NIFTY is at 25,044.65, +0.23% on the day. The 25050 straddle for the 17 Nov expiry costs ₹492.40 (230.50 call + 261.90 put), which is the market pricing a one-standard-deviation move of about ±492 points, ±1.97%, over the 7.3 days to expiry. Read that as the expected range: 24,552 to 25,537. Roughly two expiries in three should finish inside it; the third is where the money is made and lost.
India VIX at 17.42 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 (+3.8 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 ₹5,106 a lot with a maximum loss of ₹1,394 and breakevens at 24,872 / 25,228. The short strangle underneath it collects ₹26,032 — ₹20,926 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 ₹32,006 a lot and needs NIFTY beyond 24,558 or 25,542 at expiry to pay. It bleeds about ₹2,208 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 25,500 — the strike writers are defending as resistance; the largest put open interest below sits at 25,000, the floor.
Elsewhere: BANKNIFTY 59,741 with a straddle of ₹1,560 (±2.61%, expiry 23 Nov); SENSEX 81,107 with a straddle of ₹1,182 (±1.46%, expiry 12 Nov).
Strategies priced off this chain · NIFTY · lot 65
| Structure · legs (per share) | Net / lot | Max profit | Max loss | Breakevens |
|---|---|---|---|---|
| Iron condor −1 24950 PE @ 214.10 · +1 24850 PE @ 170.35 · −1 25150 CE @ 186.40 · +1 25250 CE @ 151.60 | credit ₹5,106 | ₹5,106 | ₹1,394 | 24,872 / 25,228 |
| Short strangle −1 25150 CE @ 186.40 · −1 24950 PE @ 214.10 | credit ₹26,032 | ₹26,032 | unlimited | 24,550 / 25,550 |
| Long straddle +1 25050 CE @ 230.50 · +1 25050 PE @ 261.90 | debit ₹32,006 | unlimited | ₹32,006 | 24,558 / 25,542 |
| Bull call spread +1 25050 CE @ 230.50 · −1 25150 CE @ 186.40 | debit ₹2,866 | ₹3,634 | ₹2,866 | 25,094 |
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.