IOC option price

The record date for IOC (Rs. 416/- on 31st Jan) dividend of Rs. 19/- is 9th Feb.

Since the dividend amount is less than 10%, will the strike price be adjusted on 8th Feb?

If it is then there will be an exchange circular, if not then NO.

Thanks for your response.

Not really. Strike prices are scaled up/down mostly in cases of other corporate actions like stock split, rights issues, bonus issues, etc… Not usually for dividends.