VEDL DIVIDEND WITH FUTURE SELL 1 lot

You cannot, the dividend would be already factored in in the futures price. Also, if it’s an extraordinary dividend (greater than 2% of the market price), exchanges do adjustments to F&O contracts, so a drop in stock price on ex-date doesn’t affect F&O contracts.

Here’s how these adjustments work: Adjustments in F&O contracts of Vedanta Ltd. on account of extraordinary dividend