Expiry brief · Wednesday, 11 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 | ||
|---|---|---|---|---|
| 12:31 | 🇪🇺 | holiday | French Bank Holiday | |
| 18:30 | 🇨🇦 | holiday | Bank Holiday | |
| 18:30 | 🇺🇸 | holiday | Bank Holiday |
Full week on the economic calendar →
At the open · 09:20 IST
Taken 09:20 IST · LIVE
NIFTY is at 25,395.85, +1.40% on the day. The 25400 straddle for the 17 Nov expiry costs ₹480.00 (256.60 call + 223.40 put), which is the market pricing a one-standard-deviation move of about ±480 points, ±1.89%, over the 6.3 days to expiry. Read that as the expected range: 24,916 to 25,876. Roughly two expiries in three should finish inside it; the third is where the money is made and lost.
India VIX at 17.48 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 inverted (-0.7 IV points): calls are trading richer than puts, which usually means a chase for upside; call spreads carry the premium today.
Priced off this chain, an iron condor collects ₹5,197 a lot with a maximum loss of ₹1,303 and breakevens at 25,220 / 25,580. The short strangle underneath it collects ₹25,217 — ₹20,020 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 ₹31,200 a lot and needs NIFTY beyond 24,920 or 25,880 at expiry to pay. It bleeds about ₹2,496 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.
Strategies priced off this chain · NIFTY · lot 65
| Structure · legs (per share) | Net / lot | Max profit | Max loss | Breakevens |
|---|---|---|---|---|
| Iron condor −1 25300 PE @ 178.50 · +1 25200 PE @ 140.20 · −1 25500 CE @ 209.45 · +1 25600 CE @ 167.80 | credit ₹5,197 | ₹5,197 | ₹1,303 | 25,220 / 25,580 |
| Short strangle −1 25500 CE @ 209.45 · −1 25300 PE @ 178.50 | credit ₹25,217 | ₹25,217 | unlimited | 24,912 / 25,888 |
| Long straddle +1 25400 CE @ 256.60 · +1 25400 PE @ 223.40 | debit ₹31,200 | unlimited | ₹31,200 | 24,920 / 25,880 |
| Bull call spread +1 25400 CE @ 256.60 · −1 25500 CE @ 209.45 | debit ₹3,065 | ₹3,435 | ₹3,065 | 25,447 |
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.