BANKNIFTY Options Strikes Revision

NSE is set to revise the strike scheme for BANKNIFTY options, starting from March 24, 2023. This update aims to enhance the trading experience for all market participants. To help you prepare for these changes, let’s take a closer look at what will be different. As a baseline, we will assume that BANKNIFTY SPOT is 40000.

As per existing scheme:
Multiple of 100: 20 - 1 - 20 //38000 to 42000 strikes will be available with a step of 100 points
Multiple of 500: 10 - 1 - 10 //35000 to 45000 strikes will be available with a step of 500 points

As per new scheme:
Multiple of 100: 25 - 1 - 25 //37500 to 42500 strikes will be available with a step of 100 points
Multiple of 500: 12 - 1 - 12 //34000 to 46000 strikes will be available with a step of 500 points

  • All subsequent new weekly and monthly expiration contracts created from March 23, 2023 (EOD) will be based on the revised strike scheme in BANKNIFTY options.
  • All un-expired expiries created before March 23, 2023 and available for trading after March 24, 2023 will follow the revised strike scheme from March 23, 2023 (EOD).
  • There is no other change in contract specifications for the BANKNIFTY options.

These changes are expected to provide more flexibility and precision in trading BANKNIFTY options. We encourage all the traders to review and understand the revised scheme to take full advantage of the upcoming enhancements.