Does anyone trade usd inr on friday expiry day?
How is the experience and how does it all work if anyone would be so kind to share his/her experience.
RBI releases reference rate at 1:30 in the afternoon. Based on your strike and position settlement is made.
On expiry day you can trade till 12 or 1 think not so sure but you can exit and buy positions when market opens.
Avoid trading on expiry day i.e., friday. Better move to next week expiry. Because premium wont move on friday and most probably all OTMs and even ATMs would have lost value around 10AM. Personal experience.
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Currency contracts have different expiration dates than equity based contracts. The Sep contracts already expired on Wednesday or so, if I remember correctly.
Currency contracts expire on Fridays at 12:30 pm. The Sep contract expired on Wednesday as Friday was October 1st.
Currency options:
Friday of the expiring week in case of weekly expiration contracts. Two working days prior to the last business day of the expiry month at 12:30 pm and trade modification end time will be till 01:00 PM. If expiry month date falls on holiday date, the expiry date revision may done of the existing available expiry contract and same will be intimated in a separate circular.
Currency Futures:
All contracts other than weekly, will expire Two working days prior to the last business day of the expiry month at 12:30 pm and trade modification end time will be till 01:00 PM. If expiry month date falls on holiday, then the expiry date will be revised for the existing available expiry contract and same will be intimated in a separate circular
From:
https://www.nseindia.com/products-services/currency-derivatives-contract-specification-inr
Thannk you for the information guys, i know a little about the settlement aspect but what i was really curious to know about was that is doing expiry day trading in currency options worth it.
Sorry, since I don’t trade that way, I can’t be of any help in that regard.