Currency Options 1

I sold deep in the money CE 71 of USDINR pf weekly expiry of 7 May 2021;today .But as I see there is no buyer .But it shows in my positions in zerodha.
So can the position be valid if i dont have any buyer?
What will happen if rhe position doesnot get any buyer till the end of expiry period ?Will it be considered worthless ?And what are the losses I stand to make ?

Your position is valid, a F&O position comes into existence only when there are both a buyer and a seller.

The buyers are sellers you see in market depth are potential buyers and sellers, those are pending orders, not executed.

If you aren’t able to square-off your position by expiry same will be settled by the exchange.

P&L will depend on where your position expires. If it expires OTM, it’ll expire worthless and you’ll get to keep the entire premium received. If the position expires ITM, it’ll be settled at intrinsic value and the difference between your sell price and settlement price will be your P&L.

As an option seller, your profits are limited to the premium received, while losses can be undefined. Would suggest you read this module on Varsity to get better understanding about Options.