Strategy builder
NIFTY · Mon 19 Oct 2026 expiry · one lot is 65 · priced at the settled close of Thu 15 Oct 2026. Not live.
Pick the legs; this works out what they cost, what they are worth at any settlement price, and where they break even.
Start from a shape
Pick a shape above, or a strike below, and the payoff appears here.
What each structure is exposed to
- Options against their own yeardearer than 50 of the past 252 sessions
- Puts against calls, against its own historymore puts against calls than on all but 2 sessions in 100 of the past year
- The contract these are priced onMon 19 Oct 2026
| Structure | Paid or received | Delta | Gamma | Theta, a day | Vega, a point | Most it can lose | |
|---|---|---|---|---|---|---|---|
| Long call | pays ₹5,746 | 32.37.5 · 57.2 | 0.11270.0554 · 0.0559 | -745.7-358.0 · -378.7 | 624.3299.7 · 317.0 | ₹5,746 | Open → |
| Long put | pays ₹9,253 | -32.5-51.0 · -14.1 | 0.07450.0552 · 0.0543 | -1,128.7-816.6 · -842.4 | 624.3451.7 · 466.0 | ₹9,253 | Open → |
| Short call | receives ₹5,746 | -32.3-7.5 · -57.2 | -0.1127-0.0554 · -0.0559 | 745.7358.0 · 378.7 | -624.3-299.7 · -317.0 | no limit | Open → |
| Short put | receives ₹9,253 | 32.551.0 · 14.1 | -0.0745-0.0552 · -0.0543 | 1,128.7816.6 · 842.4 | -624.3-451.7 · -466.0 | no limit | Open → |
| Call spread | pays ₹1,375 | 5.52.2 · 3.4 | 0.00390.0132 · -0.0145 | -9.7-79.4 · 108.8 | 15.069.1 · -86.6 | ₹1,375 | Open → |
| Put spread | pays ₹1,612 | -3.7-2.8 · -2.7 | 0.0004-0.0062 · 0.0062 | -17.382.3 · -104.0 | 6.5-48.0 · 55.4 | ₹1,612 | Open → |
| Short straddle | receives ₹14,999 | 0.243.6 · -43.0 | -0.1872-0.1106 · -0.1102 | 1,874.41,174.7 · 1,221.1 | -1,248.6-751.4 · -783.0 | no limit | Open → |
| Long straddle | pays ₹14,999 | -0.2-43.6 · 43.0 | 0.18720.1106 · 0.1102 | -1,874.4-1,174.7 · -1,221.1 | 1,248.6751.4 · 783.0 | ₹14,999 | Open → |
| Short strangle | receives ₹9,539 | 3.441.4 · -40.5 | -0.1719-0.0981 · -0.1252 | 1,775.31,189.8 · 1,235.7 | -1,168.3-717.1 · -842.0 | no limit | Open → |
| Iron condor | receives ₹3,640 | -1.85.1 · -6.3 | -0.0333-0.0092 · 0.0056 | 247.4-26.5 · 5.1 | -194.2-23.3 · 19.5 | ₹2,860 | Open → |
| Call butterfly | pays ₹962 | 0.92.3 · -2.6 | -0.01780.0073 · -0.0005 | 155.70.6 · -8.4 | -115.518.8 · 1.6 | ₹962 | Open → |
One lot of NIFTY, 65 units, priced at the settled close of Thu 15 Oct 2026. The small pair under each figure is the same position after one ordinary daily move of about 273 points — down first, then up. Halfway to expiry, on Fri 16 Oct 2026, the same position reads differently again; the builder shows it for the legs you choose.
These are structures, not suggestions. The desk states what each one is exposed to and never which one to hold.
The chain — pick a strike
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Open interest | Premium | Add | Add | Premium | Open interest | |
| 2,20,285 | 949.85 | buysell | 22,000 | buysell | 5.25 | 1,22,39,565 |
| 41,405 | 899.55 | buysell | 22,050 | buysell | 5.75 | 21,95,505 |
| 89,050 | 852.30 | buysell | 22,100 | buysell | 6.40 | 59,86,955 |
| 40,170 | 799.50 | buysell | 22,150 | buysell | 7.00 | 24,24,175 |
| 1,78,230 | 758.85 | buysell | 22,200 | buysell | 7.90 | 69,39,920 |
| 74,490 | 709.25 | buysell | 22,250 | buysell | 9.00 | 40,23,890 |
| 4,60,720 | 658.10 | buysell | 22,300 | buysell | 10.45 | 64,37,405 |
| 1,79,790 | 609.15 | buysell | 22,350 | buysell | 12.15 | 29,06,930 |
| 7,66,285 | 560.10 | buysell | 22,400 | buysell | 14.00 | 68,23,895 |
| 2,69,165 | 514.35 | buysell | 22,450 | buysell | 16.65 | 28,28,930 |
| 20,92,220 | 468.25 | buysell | 22,500 | buysell | 19.75 | 1,29,37,015 |
| 4,61,890 | 425.65 | buysell | 22,550 | buysell | 24.10 | 33,97,940 |
| 15,86,845 | 374.65 | buysell | 22,600 | buysell | 28.90 | 77,35,000 |
| 8,51,110 | 332.35 | buysell | 22,650 | buysell | 34.80 | 40,78,035 |
| 27,03,090 | 286.80 | buysell | 22,700 | buysell | 42.30 | 1,10,81,980 |
| 12,68,800 | 246.30 | buysell | 22,750 | buysell | 51.60 | 49,37,205 |
| 24,58,820 | 209.40 | buysell | 22,800 | buysell | 63.90 | 85,41,975 |
| 12,42,345 | 172.45 | buysell | 22,850 | buysell | 77.65 | 50,33,860 |
| 44,27,215 | 141.05 | buysell | 22,900 | buysell | 96.20 | 79,03,220 |
| 23,82,315 | 112.25 | buysell | 22,950 | buysell | 117.55 | 34,29,335 |
| 82,10,995 | 88.40 | buysell | 23,000 | buysell | 142.35 | 58,33,425 |
| 33,07,005 | 67.25 | buysell | 23,050 | buysell | 172.00 | 11,22,940 |
| 65,83,395 | 50.55 | buysell | 23,100 | buysell | 205.10 | 11,96,520 |
| 24,46,925 | 36.90 | buysell | 23,150 | buysell | 241.20 | 2,10,275 |
| 68,21,490 | 26.85 | buysell | 23,200 | buysell | 280.55 | 3,94,940 |
| 30,23,345 | 19.10 | buysell | 23,250 | buysell | 323.25 | 1,20,250 |
| 73,45,975 | 13.85 | buysell | 23,300 | buysell | 367.05 | 1,96,430 |
| 28,52,590 | 10.15 | buysell | 23,350 | buysell | 414.40 | 37,180 |
| 54,94,905 | 7.70 | buysell | 23,400 | buysell | 457.80 | 1,94,415 |
| 19,10,285 | 6.20 | buysell | 23,450 | buysell | 505.40 | 1,48,265 |
| 94,01,925 | 5.15 | buysell | 23,500 | buysell | 559.75 | 2,59,805 |
| 18,20,390 | 4.05 | buysell | 23,550 | buysell | 612.10 | 39,000 |
| 42,55,030 | 3.45 | buysell | 23,600 | buysell | 656.25 | 38,675 |
| 12,50,210 | 3.00 | buysell | 23,650 | buysell | 707.50 | 7,410 |
| 37,90,215 | 2.55 | buysell | 23,700 | buysell | 758.85 | 23,920 |
| 11,20,990 | 2.25 | buysell | 23,750 | buysell | 794.90 | 845 |
| 56,44,665 | 2.00 | buysell | 23,800 | buysell | 846.75 | 17,875 |
| 9,61,480 | 1.75 | buysell | 23,850 | buysell | 812.25 | 845 |
| 28,85,025 | 1.55 | buysell | 23,900 | buysell | 953.30 | 58,110 |
| 7,46,915 | 1.40 | buysell | 23,950 | buysell | 1,018.60 | 715 |
| 99,84,455 | 1.40 | buysell | 24,000 | buysell | 1,050.55 | 1,83,040 |
Premiums are the settled close for Mon 19 Oct 2026 expiry, so the payoff is what the position would have been worth entered at that close. It is not what it would cost right now.