Unable to exit PUT position

Jenny_Benz · October 29, 2020, 10:55am

I was unable to close my PUT position today

Strike Price: 70 PE
CMP: 80
Total Quantity: 27000

Do I need to settle for physical delivery now?

Ragavendran_M · October 29, 2020, 11:02am

It is OTM, So there is no delivery obligation.

Jenny_Benz · October 29, 2020, 11:04am

So what happens? How is it settled then?

ShubhS9 · October 29, 2020, 11:07am

The Option will expire worthless, if you were Long you will lose the premium paid, if you were Short you will get to keep whatever premium you received when you took Short position.