Settlement price of put

what is settlement price of option on expiry?

please check this image


The contract in question has expired on the 25th of February 2016. On the expiry day, all options get settled against the price of the Index. In this case you’ll have to see what the settlement price of Bank Nifty Index which I think was 13555.7, which would make the price of this contract 944.3 (14500-13555.7)

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