Options Contract changed after the Ex DIvident Date


I had purchased a VEDL NOV180PE option on 1 November 2018
and on 6 November 2018 and suddenly the contract got changed to VEDL NOV163PE.
As asking the broker about it they told it because of dividend get adjusted…

Vedanta (VEDL) Declared 17Rs divident so they minus 180-17 = 163

And so the contract VEDL NOV163PE.

Does such kind of case happened with any one as i am new to options…
And also eager to know what if i have bough a CE option of the same will i be eligible for 17 rs hike

Please any can help me with this topic

Best Regards

@ yes it happen in cases where dividend is 5% or more than the market price which is called extra ordinary dividend.Recent Past other such cases in cash segment are Hind zinc (rs 20) Ingersol rand (rs 202) Sherwani ind (rs 80).

Hey @Atul_Taware

Corporate actions keep happening frequently. being aware of events and corporate actions related to the contracts you are trading is essential.

You can keep track of these events on Sensibull - https://trade.sensibull.com/events and also you can keep track of them on Zerodha bulletin.