# Hedge benefits on Expiry day
**URL:** https://tradingqna.com/t/hedge-benefits-on-expiry-day/186822
**Category:** General
**Created:** [September 20, 2025, 6:14am UTC](https://tradingqna.com/t/hedge-benefits-on-expiry-day/186822 "2025-09-20T06:14:44Z")
**Posts on this page:** 2
**Page:** 1
### Author:  [@Arvin720](https://tradingqna.com/u/Arvin720)
#### Post date: [September 20, 2025, 6:14am UTC](https://tradingqna.com/t/hedge-benefits-on-expiry-day/186822/1 "2025-09-20T06:14:44Z")
Hi @Meher_Smaran @Pai,
Please confirm whether if I create a hedge on the day of expiry or before that then please explain what will happen on the day of expiry on both th below situation?
Scenario 1: Created a Nifty option call long position with 23 rd september expiry and another Nifty option call short position with 30th September expiry then what will happen on 23rd September i.e. will the hedge benefits be received or not?
Scenario 2: Created a Nifty option call short position with 23 rd september expiry and another Nifty option call long position with 30th September expiry then what will happen on 23rd September i.e. will the hedge benefits be received or not?
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### Author:  [@Meher\_Smaran](https://tradingqna.com/u/Meher_Smaran)
#### Post date: [September 20, 2025, 6:33am UTC](https://tradingqna.com/t/hedge-benefits-on-expiry-day/186822/2 "2025-09-20T06:33:23Z")
SEBI has removed the calendar spreads benefit on expiry day from earlier this year.
Read the below posts for more insights on this:
> [@SEBI's circular for tightening rules for F&O trading](https://tradingqna.com/t/sebis-circular-for-tightening-rules-for-f-o-trading/174013):
>
> In July, SEBI had released a consultation paper to tighten the rules for trading in the F&O segment on the back of a massive surge in speculation in the markets and to safeguard retail investors. SEBI has now released a new circular on what all changes will be made and when these will come into effect. Upfront collection of Option Premium from options buyers To avoid undue intraday leverage to the end-client, and to discourage any practice of allowing any positions beyond the collateral at …
> **[SEBI's new rules for index derivatives: Here's what's changing](https://zerodha.com/z-connect/business-updates/sebis-new-rules-for-index-derivatives-heres-whats-changing)**
>
> On October 1, 2024, SEBI released a circular that changes a few things for index derivatives. Here’s a breakdown of all the changes and their impact.