I bought a BankNifty 47000 CE (expiry 16 Apr) option. I checked the liquidity of the option, and it is low. So, my question is, suppose BankNifty on 16 Apr closes at 48567.55, and at that time, the bid for the buyer of the 47000 CE (expiry 16 Apr) is 1500. If I do not square off my buy option, what will I get?
Will I get 1500 * 15 = 22500? (because the buyer bid)
Will I get 1567 * 15 = 23505? (because BankNifty close price)
Also, if I do not square off my option, will there be any charges or penalties?
@ShubhS9 @Meher_Smaran