What is Contract specification of Stock Options

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Contract specification of Stock Options Contract

Underlying Individual Securities available for trading in Cash Market
Exchange of trading National Stock Exchange of India Limited
Security descriptor OPTSTK
Style of Option European
Strike Price Interval As specified by  the  Exchange
Contract size As Specified by the Exchange

(minimum value Rs.5 lakh)

Price steps Re. 0.05
Price bands Not Applicable
Trading cycle The options contracts will have a maximum of three month trading cycle – the near month (one), the next month (two) and the far month (three). New contract will be introduced on the next trading day following the expiry of near month contract.
Expiry day The last Thursday of the expiry month or the previous trading day if the last Thursday is a trading holiday.
Settlement basis Daily Settlement on T+1 basis and final option exercise settlement on T+1 basis.
Daily Settlement Price Premium value (net)
Final Settlement Price Closing Price of underlying security on the  last trading day of the option contract.

Source: www.nseindia.com

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