I bought 1620 Reliance put options. At expiry the rate was 1515 but I did not square off the position. What will happen since it is physical delivery now.
Provided you maintain sufficient margin, below-given settlement takes place:
- You will receive 1620*Lot size amount.
- At the same time, you’re supposed to give delivery of the shares (lot size)
If you don’t have shares, it will be short delivered and settled through an auction process.
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