Profit settlement for PUT option buyer

F&O
1

If as a PUT option buyer my premium paid call goes in the money what do I need to do, how my profits are settled?
I am asking this on the following fronts -

  • NIFTY
  • BANKNIFTY
  • Stocks (ITC, RELIANCE etc)
2

Index Options are cash settled. Upon expiry your position will be settled at intrinsic value and profit / loss you will be making will be credited to / debited from your account.

Stock Options are physically settled. If your position expires ITM, as an Put Option buyer you’ll have to give delivery of underlying shares. You can learn more about physical settlement here.