MCX has announced the launch of options on the iCOMDEX Bullion Index (BULLDEX). Trading will begin on Monday, October 27, 2025. You can refer to the exchange circular here.
Trading will be held Monday to Friday between 9:00 a.m. and 11:30/11:55 p.m. (based on US daylight saving), with the November 2025 contract expiring on November 26, 2025.
These contracts will allow traders to take exposure on gold and silver together through a single instrument. Like other index products from MCX, they’ll be cash-settled and follow a European-style exercise.
Contract Specifications
| Parameter | Details |
|---|---|
| Symbol | MCXBULLDEX |
| Underlying | MCX iCOMDEX Bullion Index |
| Contract Availability | Monthly index contracts |
| Trading Unit (1 Lot) | ₹30 × MCX iCOMDEX Bullion Index (contract value not less than ₹5 lakh at introduction) |
| Strikes | 35 In-the-money, 35 Out-of-the-money, and 1 Near-the-money (71 strikes total) |
| Strike Price Interval | Rs. 100 |
| Tick Size (Minimum Price Movement) | Rs. 0.05 |
| Settlement Mechanism | Cash-settled |
| Devolvement Margin | Not applicable (since cash-settled) |
| Launch Date | October 27, 2025 |
| Max Order Size | 30 lots |
| Settlement Cycle | T+1 |
| Final Settlement Price (DDR) | VWAP of underlying constituents between 4-5 PM on expiry day, rounded to the nearest whole number |
Launch Calendar for MCX iCOMDEX Bullion Index Options
| Contract Launch Month | Contract Expiry Month |
|---|---|
| October 2025 | November 2025 |
| October 2025 | December 2025 |
| October 2025 | January 2026 |
| November 2025 | February 2026 |
| December 2025 | March 2026 |
| January 2026 | April 2026 |
| February 2026 | May 2026 |
| March 2026 | June 2026 |
| April 2026 | July 2026 |
| May 2026 | August 2026 |
| June 2026 | September 2026 |
| July 2026 | October 2026 |
| August 2026 | November 2026 |
The table shows when new option contracts will be launched and the months in which they will expire. For example, contracts introduced in October 2025 will have expiries in November, December 2025, and January 2026. MCX will list three active contracts: near, mid, and far month. When the near-month contract expires, a new one is introduced for the next month to ensure continuous trading availability.
Highlights from the contract
- Both BULLDEX Futures and Options will expire on the same day, making it easier to trade or hedge positions.
- Cash-settled, so no physical delivery.
- The index combines gold and silver prices, giving traders a single way to track or trade the bullion market.
- The lot size and margin rules are the same as those used for other MCX index contracts.
You can visit the MCX website for more information here.