It can, if the index rises far enough by the close. is the value an option loses as time passes. On Thursday a NIFTY weekly option has 3 trading days left. Take an at-the-money call, whose is closest to the index. If nothing moves, it loses about 8% of its price that day. The call's gain from a slow rise has to beat that loss. That takes about 28 points by the close.
- Index
- NIFTY
- Cycle
- NIFTY weekly
- Starts
- 09:15 IST
- Runs for
- 1 trading day · About 20 min at Normal speed
- Difficulty
- Beginner
- Date
- 4 Jun 2026
- Expiry
- NIFTY 9 Jun 2026
- IV
- 13.5%
What is this market shaped like?
The market starts on the Thursday of a NIFTY week. is 3 trading days away: Friday, Monday and Tuesday. In the Trending version the index drifts one way all day. Drift means a slow, steady move. The Thursday to expiry version runs on to the Tuesday close. (implied volatility) is the size of move option prices expect. The example below keeps it at 13.5%.
A Thursday for an at-the-money call, with NIFTY at 25,400 and IV at 13.5%
| What | Amount |
|---|---|
| Call premium at the open | about ₹178 |
| Premium at the close if nothing moves | about ₹164 |
| Rise NIFTY needs by the close to get back to ₹178 | about 28 points (0.11%) |
| How much the call moves for each point NIFTY moves | about ₹0.53 |
So a rise of 28 points only breaks even. A bigger rise wins. A smaller rise, or a fall, loses.
What will you see?
- is how much an option moves for each point the index moves. Near the money it is about 0.5.
- Theta, the value lost to time, is taken all day, whatever the index does. The index move either pays for it or adds to the loss.
- IV has no planned change here. If IV slips lower, the call loses a little more.
Which version do you want?
Each version is the same kind of market with 1 thing changed. Choose one to start it.
- Thursday to expiry
- Thursday only · Trending
What should you try?
Try this with 1 of 1 call. A lot is the smallest size you can trade.
- At the open, buy 1 lot of the at-the-money call.
- Every hour, note NIFTY's level and the call's price.
- At the close, note NIFTY's level and the call's price. Compare them with the levels you wrote down each hour.
What should you check afterwards?
- Did NIFTY rise more or less than the move your call needed?
- Look at your hourly notes. Did the call's price fall in any hour when NIFTY did not fall?
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