11.5What is an expiry date?
Time-sensitive: Expiry days (NSE Tuesday, BSE Thursday) as set from September 2025; check exchange circulars for changes. Rules and rates change, so check the official source before acting.
1What is it?
The last day a contract exists. After expiry it is settled and ends.
2Why does it exist?
Expiry forces the contract to close, so open positions are settled at the final price.
3Stock market example
Index derivatives have monthly contracts (expiring on the last expiry day of the month) and one weekly benchmark index contract per exchange: Nifty on NSE expires on Tuesdays, Sensex on BSE on Thursdays. Holidays shift expiry to the previous trading day.
4Quick revision
- Contracts end on expiry.
- Monthly and limited weekly expiries.
- Check the exchange calendar.
5Knowledge check
Q1. What happens at expiry?Show answer
The contract is settled and ceases to exist.
Q2. Weekly Nifty expiry day (as of 2026)?Show answer
Tuesday.
Q3. If expiry is a holiday?Show answer
It moves to the previous trading day.