As seen from last 3 to 4 expiries, the put option premiums are discounted, for ex. Right now around 2.30pm on 22/09/25, 25400 pe trading around 140, when spot is around 25230, around 30 points of intrinsic value is discounted.
Why that much difference?, what I’m missing here?
(I’ve taken spot value, as premium coincides with spot values for weekly expiries)
The underlying for weekly expiry is not the spot but the implied weekly future which can be derived by PV(Strike) + Call - Put. Since time to expiry is less for weekly PV(Strike) ~ Strike. At expiration this synthetic future coincides with the spot.
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Thanks, it was very useful, will check about the put call parity equation for much more understanding!