It loses value a little each day, and fast at the end. A NIFTY weekly option expires every Tuesday, or the trading day before when Tuesday is a holiday. This market starts on the Wednesday after an expiry. Most versions run to the next expiry. Take an at-the-money call, whose strike is closest to the index. If nothing moves, about 56% of its price goes in the last 2 trading days.
- Index
- NIFTY
- Cycle
- NIFTY weekly
- Starts
- 09:15 IST
- Runs for
- 1 trading day · About 20 min at Normal speed
- Difficulty
- Beginner
- Date
- 6 May 2026
- Expiry
- NIFTY 12 May 2026
- IV
- 10.5%
What is this market shaped like?
The five-day outline below describes the Whole week · Normal version. This selected market ends on Wednesday.
The week has 5 trading days: Wednesday, Thursday, Friday, Monday and the expiry Tuesday. An option's time value is the part of its price that pays for the time left. It shrinks while the market is open, and more slowly at night. Here a night counts as about 0.5 of a trading day. The weekend counts as about 1 trading day. Market X-Ray counts every calendar day the same, so it shows a bigger weekend drop.
What is left of an at-the-money call's price, if nothing moves
| When | Left of Wednesday's opening price |
|---|---|
| Wednesday open | 100% |
| Wednesday close | 93% |
| Thursday close | 82% |
| Friday close | 69% |
| Monday open | 56% |
| Monday close | 44% |
| Tuesday open | 36% |
| Tuesday 13:30 | 21% |
| Tuesday 15:00 | 12% |
Nothing moves means the index stays still and IV stays the same. IV (implied volatility) is the size of move option prices expect.
Your run will differ, because the index and IV move. Use the table as the line to compare with.
What will you see?
- IV moves a little in this market. Only the Nervous and Stressed versions have a planned shock, on Monday morning.
- Theta is how much an option's price falls from time alone. It grows as expiry gets near. So a Monday feels very different from a Wednesday.
- On Tuesday the weekly options expire at the close. An option in the money pays the gap between the index and its strike. An option out of the money ends at zero. Out of the money means a call's strike is above the index, or a put's strike is below it.
Which version do you want?
Each version is the same kind of market with 1 thing changed. Choose one to start it.
- Whole week · Normal
- Wednesday only · Calm
- Holiday week
- Whole week · Calm
- Whole week · Trending
- Whole week · Nervous
- Whole week · Stressed · both indices
The Holiday week version ends on a Monday, because its Tuesday is a market holiday.
What should you try?
The full-week exercise below belongs to Whole week · Normal. This version ends on Wednesday, before the Monday and Tuesday checks.
Try this with 1 lot of 1 call. A lot is the smallest size you can trade.
- At Wednesday's open, buy 1 lot of the at-the-money call.
- Do nothing else. At each close, write down the call's price and NIFTY's level.
- On Monday, compare your prices with the table above.
- After Tuesday's close, compare the call's last price with your notes from each day.
What should you check afterwards?
- Which took the most from your call: a trading day, a night or the weekend?
- Did NIFTY move enough to cover the time your call lost?
Open these next: