Why traders buy option of banknifty / nifty on its expiry datye

if currently banknifty is hovering around 24200-24300 and market tendency show it never shoots up to 24500 in today range of trading . in such that scenario heavy amount of volume is showing in all available options range such as 24800,24700,24600,24500 etc , i didn`t get these option value are going to expire today, then what does it means

Maybe people are unable to see the market tendency that you’ve spotted. They still feel the markets could considerably go up on expiry day.

Call options prices of strikes higher than Banknifty spot will be operating at very low prices as it is currently out of the money and it is expected to expire out of the money. But people buy these out of the money calls hoping for the markets to spike up in some way and if it does, they end up with a good profit multiplier for their invested amount. But these are rare instances. Most of the times people end up losing their entire premium.

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there are many instances when there was more than 500 point swing in intraday.
there are countless option strategies and traders will be implementing it , ie someone migth sell 24300 call and put and hedge it with otm options

what is otm options
in your comment

outside the money