loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations
Open ICICI 3-in-1 Account

How can we help you ?

Choose the category to find the help you need

    Announcements

    Everything You Need to Know About CAS Before August 3, 2026
    Read More
    Fno Back

    New Updates In Futures & Options

    What can I do if I already have a position in a banned stock?
    • No fresh positions are allowed to be created once the stock comes in ban period, as per our internal risk policies. However, Rollover of Futures Positions will now be allowed.
    • You will be allowed to square off your existing positions in the stock in Ban Period. However, if one leg of the hedge position is squared off, it will lead to increase in FutEq OI.
    • If the square off trade (by client / system) results in increase in FutEq OI during the day, then your pending square off orders in that stock will be cancelled and positions will be squared off any time after 2 PM to reduce the FutEq OI.

    Let’s understand with an example:

    - Calculation of FutEq Open positions:

    Instrument

    Symbol

    Expiry

    Strike Price

    Option Type

    Base Position Qty*
    (A)

    Contract Delta
    (B)

    FutEq Base position
    (C)= (A)*(B)

    Total FutEq Base Positions
    (D) = Sum (C)

    FUTSTK

    ACC

    19-May-25

    0

    FF

    -10

    1

    -10

    -5.20

    OPTSTK

    ACC

    19-May-25

    22400

    CE

    -10

    0.52

    -5.20

    FUTSTK

    ACC

    29-May-25

    0

    FF

    10

    1

    10

    *Positions that are open at the end of the day (on the day the security was added to the ban list) will be considered base positions. These base positions will be compared with the next day’s positions by computing FutEq of Open positions at 2 PM as per the Exchange guidelines.

     

    -Examples of increase/ decrease in FutEq open positions and system actions:

    Scenario

    FutEq Base Positions (T day)

    FutEq open positions available on T+1 day at 2 PM

    Remarks

    Scenario 1 - No Change in positions

    12.50

    12.50

    No Action

    Scenario 2 - Client has squared off the positions, which resulted in increase in FutEq open position and the sign has changed

    10.50

    -15.2

    System will square off the positions

    Scenario 3 - Client has squared off the positions, which resulted in decrease in FutEq open position

    5.20

    4.80

    No Action

    Scenario 4 - Client has squared off the positions, which resulted in increase in FutEq open position

    10.50

    15.2

    System will square off the positions

    All the figures mentioned above are fictional and intended for the purpose of illustration.

    The above mechanism is applicable for Single Stock only. Any breach observed by Clearing Corporations during monitoring of positions during ban period may attract penalty which may be recovered from clients. 

    NOTE: You can exit (square off) your position. But you cannot increase, reverse, or hedge it using new F&O trades.

     

    What is MWPL? When does any stock enter Ban Period in F&O segment? Can I trade in a stock that is under MWPL ban period? What is Change in the Open Interest (OI) Calculation methodology - Delta-Based (Future-Equivalent) OI? What is Position Limit Monitoring for Index Futures and Index Options?
    What is the timeline to act on a shortfall? What should I do in case of a margin shortfall? When does margin shortfall occur? How will I know if I have a margin shortfall?
    For which instruments is pre-open session applicable in Equity Derivatives market? What are the pre-open session timings? What shall be the trading parameters for Equity Derivatives market for pre-open session? Will the Self Trade Prevention Check (STPC) mechanism be applicable during the pre-open session in the Equity Derivatives segment? The pre-open session comprises of how many sessions? What are the features? On what basis is the equilibrium / opening price determined for pre-open session? What happens to unmatched orders which are entered in the pre-open session? Will the orders received in pre-open session be validated at the applicable margins?
    What is a Quantity Freeze Limit in futures and options?
    Where can I check my turnover statement for futures and options? Is F&O turnover statement available on weekly basis? Why is there a difference between my profit and loss statement and turnover statement in futures and options?
    What is the Option 20 scheme? What is the GST amount for option trade? Where do I check the date from which I have been mapped under Options 20? Does ICICI Direct offer Futures & Options (F&O) contracts with up to 1-year expiry? What is VAR + ELM? Why is it required for stock options? What are the brokerage charges in Futures & Options if I am mapped to Option 7 scheme? Can I place an order before and after market hours for futures and options on ICICI Direct? What is the MTM (Mark-to-Market) process in F&O? Where can I check if a stock is in MWPL ban? Why am I unable to place an F&O order? Recent Price Revision in F&O When is Extreme Loss Margin(ELM) applicable? Why did my position in Futures and Options get squared-off ? What happens in case my F&O Limit goes negative due to placing Option Buy order at Market price? What are the system square off charges in F&O? How the fund payout process works in stocks and F&O contracts? What is the revised Securities Transaction Tax (STT) for F&O? Why isn't my order getting executed even though it has been placed successfully in Futures and Options? What are the criteria for the contract enablement in F&O? Understanding EBA/F&O Entries in Your ICICI Account or Ledger How limits are displayed on limits page? What is settlement cycle in F&O? How to download STT statement for Futures and Options? What is the additional exposure margin on securities under MWPL? When is a tax audit applicable to an F&O trader? How to fill for F&O Trading through ITR forms? Can F&O losses be set off against salary income or other business income? What happens if I incur a loss from F&O trading? Can I carry it forward? What are due dates and late filing impact? What documents are required for tax filling? What expenses can be deducted from F&O trading income? How much tax is payable on F&O profits? How is F&O turnover calculated for tax purposes? What are the new sectoral launches of NSE ? How is F&O trading income taxed in India? What is BSE launch on F&O contracts for Focused IT Index?
    What are the new lot sizes for index derivatives? When will the new lot sizes for weekly and monthly contracts be effective? What happens to existing contracts during the transition? Can different lot sizes co-exist in the same month? How do the new lot sizes impact margin requirements? What other changes has SEBI introduced in the F&O segment? What is the rationale behind the changes in Futures and Options new rules mentioned in circular dated November 2024? What are the implementation dates for the new changes? What is revised expiry schedule for NSE contracts? What is revised expiry schedule for BSE contracts? When will the new lot sizes for derivative contracts be effective? What is the change in lot size for long dated options and do I need to square off my long-dated positions? What are the deadlines to close my long-dated option positions? What Happens If I Do Not Square Off my long-dated options position?
    Removal of Calendar Spread Margin Benefits on Expiry Days What is the removal of calendar spread? What is a calendar spread? How does the removal of margin benefit work on the day of expiry? Which contracts are affected due to removal of calendar spread? What will happen to my calendar spread on expiry day? Will this rule apply to Options Calendar Spread as well? How can traders manage this change? Where can I see my total margins for my positions one day before the expiry? If I am unable to bring the margin how my position will be impacted? What is the impact of removal of Calendar Spread Margin benefit for single-stock derivatives on expiry day?