USDINR option price final settltment

NOV27, 2020 USDINR 74 PE option, expired at 0.2125 (LTP as shown in nseindia website)
The same page shows RBI reference rate as 73.9762 ~ 73.98

The latest available rate (AFAIK) in is
26 Nov 2020 1:30:00 PM INR / 1 USD 73.8262 (but there is no data for today even after 1900 Hrs)
RBI links redirect to FBIL

Next available future price is of 29-DEC-2020, the price at expiry 1230 Hrs was 74.00.

Does the options devolve into next available future prices at settlement?

Very frustrating to trade/strategize with unknows like this. Even NSEINDIA website is of mostly no use, the last details/read between the lines are missing,

What is the mismatch here? so many missing dots, appreciate if anyone can help find and connect the dots.

No, USDINR Options don’t devolve into Futures. OTM Options will expire worthless while ITM Options will be settled at RBI Refrence Rate.

Regarding lack of update on Reference Rate for today, FBIL website should update it maybe by tomorrow.

You have to be careful trading ITM USDINR options. And the best rate is option rate itself. Because that value is real value.

Same thing happened with me - Zerodha currency futures show different price, NSE website gives different price, TradingView future price, ShareKhan spot price, all have different rates.

At some point, you will let go of these things and will check option prices only. :smile:

@ShubhS9. Thanks for the clarifications on ‘options devolve to future prices at expiry and expire’ . Without being offsensive to your statement: I think every option trader knows ITM/OTM final settlement funda.
What I asked on this forum is whats missing with all the above information, where can I find the data.
Why FBIL doesnt provide reference rate, which in this world and age, should be within an hour.

After all, its the big BANKS are the ones who know all, on currency trades, and they know know the correct picture. Even the RBI would know the full picture. The exchange should follow up and facilitate to provide these information to its customers.

Or do the treasury sections of big-banks take advantage of the info at hand and use it against anyone who can fall (they just squeeze out the last pip of the last lot, even if its a single lot).

Forcing me to think twice before taking trades, which can lead to bleed even with proper hedges in place.