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    New Updates In Futures & Options

    What is the change in lot size for long dated and do I need to square off my long-dated positions?

    For long-dated Nifty and Bank nifty:

    Index Derivatives           Expiration Cycle Expiry Date Particulars
    NIFTY Quarterly & Half Yearly      31-Mar-2026*      Lot size of all existing quarterly and half yearly expiry contracts will be revised from December 30, 2025 (EOD) i.e.,65  
    BANK NIFTY Quarterly 31-Mar-2026* Lot size of all existing quarterly expiry contracts will be revised from December 30, 2025 (EOD) i.e.,30

    * Please note, the March 2026 contract which was introduced as quarterly contract will become far month contract of the respective index derivatives on December 2025 monthly expiry day (EOD)

    Any Nifty/Bank Nifty options with expiry in March, June, or September 2026 are classified as long-dated.

    In case you are holding long-dated options (March/June/September 2026) created with the old lot size, these positions must be closed before the stipulated timeliens. This ensures smooth migration to the new lot size and avoids liquidity issues in old contracts.

    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?