Tuesday, 27 January 2026
A NIFTY put bought at Friday’s close turned ₹81.20 into ₹0.00.
The call at the same went from ₹97.40 to ₹125.40.
Tuesday, 27 January 2026: NIFTY rose 126.75 points. The practice put changed from ₹81.20 to ₹0.00. Why?
What you will learn
- See how an index move changes a put and a call.
- Separate time passing from IV, the expected size of future moves.
- Compare the result before and after costs.
| premium | 23 Jan 2026 → 27 Jan 2026 | After charges |
|---|---|---|
| Put 25,050Expiry 27 Jan 2026 | ₹81.20 → ₹0.00₹5,278.00 → ₹0.00 | −₹5,303.99 lossCharges ₹25.99 |
| Call 25,050Expiry 27 Jan 2026 | ₹97.40 → ₹125.40₹6,331.00 → ₹8,151.00 | +₹1,781.31 gainCharges ₹38.69 |
Tuesday, 27 January 2026 · NIFTY
Official close · 15:30 · NIFTY 25,175.40
- Official close
- NIFTY 25,175.40
- Put
- ₹0.00P&L so far −₹5,278.00
- Call
- ₹125.40P&L so far +₹1,820.00
Between the two closes, each premium is worked out from that minute’s NIFTY. P&L is for 1 lot, before charges.
Read the prices
| Time | Open | High | Low | Close |
|---|---|---|---|---|
| 23 Jan 2026 · Previous close | — | — | — | 25,048.65 |
| 09:15 | 25,063.35 | 25,126.30 | 25,006.30 | 25,009.95 |
| 09:20 | 25,007.50 | 25,008.70 | 24,937.55 | 24,946.40 |
| 09:25 | 24,946.30 | 24,970.70 | 24,932.55 | 24,958.55 |
| 09:30 | 24,958.40 | 25,000.20 | 24,940.20 | 24,989.50 |
| 09:35 | 24,989.95 | 25,095.15 | 24,977.80 | 25,091.50 |
| 09:40 | 25,090.65 | 25,147.60 | 25,064.75 | 25,147.60 |
| 09:45 | 25,148.80 | 25,161.85 | 25,121.00 | 25,152.20 |
| 09:50 | 25,151.75 | 25,158.75 | 25,126.40 | 25,137.25 |
| 09:55 | 25,139.05 | 25,141.30 | 25,100.95 | 25,108.90 |
| 10:00 | 25,111.00 | 25,152.35 | 25,111.00 | 25,130.30 |
| 10:05 | 25,130.20 | 25,133.20 | 25,083.35 | 25,099.45 |
| 10:10 | 25,099.90 | 25,131.60 | 25,086.90 | 25,128.45 |
| 10:15 | 25,129.35 | 25,184.95 | 25,123.50 | 25,176.60 |
| 10:20 | 25,177.00 | 25,179.00 | 25,158.40 | 25,161.55 |
| 10:25 | 25,161.20 | 25,172.35 | 25,117.30 | 25,117.70 |
| 10:30 | 25,117.70 | 25,133.40 | 25,105.75 | 25,128.65 |
| 10:35 | 25,128.30 | 25,131.55 | 25,108.70 | 25,110.65 |
| 10:40 | 25,112.10 | 25,112.35 | 25,019.70 | 25,030.00 |
| 10:45 | 25,028.85 | 25,044.75 | 25,012.45 | 25,041.35 |
| 10:50 | 25,041.60 | 25,041.60 | 24,979.20 | 24,994.70 |
| 10:55 | 24,996.40 | 25,011.40 | 24,979.05 | 24,983.25 |
| 11:00 | 24,983.85 | 25,021.50 | 24,980.00 | 25,011.05 |
| 11:05 | 25,008.80 | 25,039.80 | 24,994.05 | 25,019.25 |
| 11:10 | 25,019.95 | 25,030.30 | 25,013.80 | 25,029.40 |
| 11:15 | 25,029.05 | 25,057.10 | 25,022.10 | 25,048.05 |
| 11:20 | 25,049.80 | 25,064.85 | 25,037.15 | 25,039.40 |
| 11:25 | 25,038.65 | 25,066.65 | 25,030.95 | 25,057.70 |
| 11:30 | 25,057.75 | 25,084.80 | 25,052.55 | 25,063.00 |
| 11:35 | 25,063.00 | 25,091.65 | 25,062.85 | 25,090.50 |
| 11:40 | 25,091.00 | 25,157.85 | 25,079.45 | 25,154.65 |
| 11:45 | 25,154.15 | 25,162.05 | 25,107.75 | 25,108.15 |
| 11:50 | 25,109.40 | 25,109.70 | 25,084.20 | 25,086.75 |
| 11:55 | 25,088.55 | 25,116.95 | 25,083.60 | 25,103.65 |
| 12:00 | 25,104.00 | 25,131.80 | 25,092.65 | 25,113.65 |
| 12:05 | 25,114.55 | 25,125.90 | 25,114.15 | 25,115.25 |
| 12:10 | 25,116.25 | 25,137.65 | 25,113.95 | 25,120.35 |
| 12:15 | 25,121.55 | 25,127.55 | 25,091.25 | 25,091.95 |
| 12:20 | 25,092.00 | 25,135.50 | 25,091.20 | 25,127.60 |
| 12:25 | 25,127.10 | 25,138.20 | 25,100.35 | 25,102.10 |
| 12:30 | 25,102.25 | 25,109.25 | 25,083.10 | 25,098.80 |
| 12:35 | 25,099.00 | 25,101.80 | 25,070.55 | 25,086.40 |
| 12:40 | 25,086.10 | 25,093.65 | 25,076.55 | 25,079.55 |
| 12:45 | 25,081.20 | 25,091.80 | 25,058.50 | 25,058.50 |
| 12:50 | 25,060.45 | 25,100.40 | 25,056.50 | 25,094.30 |
| 12:55 | 25,094.00 | 25,096.85 | 25,082.35 | 25,088.95 |
| 13:00 | 25,088.95 | 25,090.45 | 25,065.15 | 25,080.95 |
| 13:05 | 25,080.70 | 25,094.40 | 25,074.20 | 25,089.60 |
| 13:10 | 25,089.50 | 25,090.90 | 25,071.15 | 25,088.95 |
| 13:15 | 25,089.10 | 25,099.50 | 25,081.20 | 25,098.05 |
| 13:20 | 25,098.60 | 25,112.75 | 25,085.90 | 25,103.55 |
| 13:25 | 25,102.40 | 25,123.70 | 25,089.85 | 25,120.90 |
| 13:30 | 25,122.70 | 25,132.25 | 25,106.50 | 25,106.90 |
| 13:35 | 25,107.25 | 25,108.55 | 25,027.70 | 25,031.70 |
| 13:40 | 25,033.60 | 25,064.10 | 25,018.00 | 25,045.25 |
| 13:45 | 25,046.15 | 25,060.75 | 25,040.65 | 25,058.65 |
| 13:50 | 25,059.80 | 25,065.90 | 25,036.95 | 25,043.45 |
| 13:55 | 25,043.75 | 25,065.65 | 25,039.60 | 25,049.35 |
| 14:00 | 25,050.85 | 25,055.65 | 25,013.15 | 25,016.55 |
| 14:05 | 25,017.40 | 25,033.10 | 24,998.25 | 25,024.45 |
| 14:10 | 25,026.05 | 25,059.40 | 25,024.35 | 25,034.55 |
| 14:15 | 25,034.90 | 25,039.50 | 25,024.05 | 25,029.35 |
| 14:20 | 25,030.05 | 25,032.85 | 25,007.85 | 25,021.25 |
| 14:25 | 25,022.70 | 25,039.45 | 25,019.00 | 25,032.65 |
| 14:30 | 25,032.70 | 25,051.10 | 25,024.45 | 25,041.75 |
| 14:35 | 25,042.30 | 25,093.05 | 25,040.65 | 25,092.40 |
| 14:40 | 25,093.10 | 25,108.65 | 25,084.85 | 25,087.60 |
| 14:45 | 25,088.90 | 25,116.05 | 25,088.30 | 25,115.20 |
| 14:50 | 25,115.90 | 25,145.80 | 25,115.15 | 25,142.50 |
| 14:55 | 25,143.60 | 25,155.30 | 25,116.55 | 25,139.45 |
| 15:00 | 25,141.20 | 25,145.55 | 25,100.75 | 25,128.85 |
| 15:05 | 25,130.50 | 25,160.25 | 25,125.90 | 25,147.70 |
| 15:10 | 25,142.95 | 25,175.35 | 25,142.75 | 25,170.40 |
| 15:15 | 25,169.25 | 25,207.35 | 25,168.05 | 25,202.90 |
| 15:20 | 25,203.95 | 25,230.20 | 25,190.65 | 25,230.20 |
| 15:25 | 25,230.40 | 25,246.65 | 25,225.70 | 25,234.10 |
| Official close | — | — | — | 25,175.40 |
On this day 1 was 65. It is 65 now. Charges use the rates as at 18 Oct 2026.
How the money is worked out × lot size = the money for 1 lot. Money received − money paid − charges = the result.
- Put 25,050: ₹81.20 × 65 = ₹5,278.00 paid. ₹0.00 × 65 = ₹0.00 received. ₹0.00 − ₹5,278.00 − ₹25.99 charges = −₹5,303.99 loss.
- Call 25,050: ₹97.40 × 65 = ₹6,331.00 paid. ₹125.40 × 65 = ₹8,151.00 received. ₹8,151.00 − ₹6,331.00 − ₹38.69 charges = +₹1,781.31 gain.
Cost details
Each charge in rupees. Together they make the Charges total above.
Put 25,050 · Charges ₹25.99
- Brokerage
- ₹20.00
- STT
- ₹0.00
- Exchange transaction charge
- ₹1.88
- SEBI fee
- ₹0.01
- Stamp duty
- ₹0.16
- GST
- ₹3.94
- Total charges
- ₹25.99
Your broker’s fee. We use ₹20.00 for each order. This trade has 1 order.
. None here, because the option was worth nothing at .
The stock exchange takes this fee on each trade.
SEBI watches over the market. This is its tiny fee.
A government tax on the buy order.
Goods and Services Tax. It is charged on the brokerage and the fees.
Call 25,050 · Charges ₹38.69
- Brokerage
- ₹20.00
- STT
- ₹12.23
- Exchange transaction charge
- ₹2.25
- SEBI fee
- ₹0.01
- Stamp duty
- ₹0.19
- GST
- ₹4.01
- Total charges
- ₹38.69
Your broker’s fee. We use ₹20.00 for each order. This trade has 1 order.
Securities Transaction Tax. At expiry it is charged on what the option is worth. This one is our estimate.
The stock exchange takes this fee on each trade.
SEBI watches over the market. This is its tiny fee.
A government tax on the buy order.
Goods and Services Tax. It is charged on the brokerage and the fees.
What moved them
NIFTY 25,048.65 → 25,175.40 · India VIX 14.19 → 14.45
Estimated price split
is the size of move suggested by the option’s price. India VIX is a separate number.
Price change before charges
Put
- NIFTY’s move
- −₹1,531.18 loss
- Time passed
- −₹3,746.79 loss
- IV’s move
- —
- Remaining difference
- −₹0.03 loss
IV cannot be solved at expiry. The index and time split holds the starting IV.
Call
- NIFTY’s move
- +₹6,707.37 gain
- Time passed
- −₹4,887.35 loss
- IV’s move
- —
- Remaining difference
- −₹0.02 loss
IV cannot be solved at expiry. The index and time split holds the starting IV.
The model uses interest 7% and dividend 0.6%.
This calculation uses 0.15% for exercise STT.
Every strategy that day
Long put
Bought the put
−₹5,303.99 lossLong call
Bought the call
+₹1,781.31 gainLong straddle
Bought both
−₹3,522.68 lossShort straddle
Sold both
+₹3,388.48 gainNIFTY rose. Which option rose at the close?
See the answer
The put changed by −₹81.20 loss. The call changed by +₹28.00 gain.
Questions on this
Recorded NIFTY minute prices · Tuesday, 27 January 2026
Put · Closing premium ₹0.05 · expiry value ₹0.00
Call · Closing premium ₹184.10 · expiry value ₹125.40