India F&O Rules Tracker
Dated changes to lot sizes, STT and derivatives rules - and what each means for traders. Last verified 31 Oct 2026.
VWAP-based expiry-day settlement
Expiry-day settlement price reverts to a 30-minute VWAP of the underlying/constituents (replacing the earlier CAS plan).
Impact: Settlement price reflects a VWAP window, not a single close print.
Source: SEBI circular ~15 Oct 2026 - confirm →F&O STT hike
STT raised: futures sell 0.02%→0.05%; options sell 0.10%→0.15% of premium; exercise 0.125%→0.15% of intrinsic.
Impact: Higher per-trade cost, especially for option sellers and high-frequency traders.
Source: Zerodha charges / Budget 2026-27 →Index F&O lot-size revision
Nifty 75→65, Bank Nifty 35→30, FinNifty 65→60, Midcap 140→120. Sensex transitioning toward 25 on newer series.
Impact: Changes capital per lot and margin; recheck the lot for your contract's expiry.
Source: Exchange instrument master (NFO/BFO) →Calendar-spread margin benefit removed on expiry day
No calendar-spread margin offset for contracts expiring the same day.
Impact: Higher margin for expiry-day spread positions.
Source: SEBI measures - confirm circular →One weekly expiry per exchange
Weekly index-options expiry limited to one benchmark per exchange (NSE: Nifty; BSE: Sensex).
Impact: Fewer weekly expiries; concentrated expiry-day activity.
Source: SEBI measures (Oct 2024) - confirm circular →Upfront option-premium collection + extra ELM
Option premium collected upfront from buyers; +2% extreme-loss margin on short options on expiry day.
Impact: Higher intraday margin needs for option sellers near expiry.
Source: SEBI measures (Oct 2024) - confirm circular →Current index lot sizes
| Index | Exchange | Lot size | Note |
|---|---|---|---|
| Nifty 50 | NSE | 65 | - |
| Bank Nifty | NSE | 30 | - |
| Fin Nifty | NSE | 60 | - |
| Midcap Nifty | NSE | 120 | - |
| Sensex | BSE | 20 | Near-term contracts 20; BSE is transitioning newer series to 25 - verify the lot for your expiry. |
Verified against the live exchange instrument master on 31 Oct 2026. Always confirm the lot for your specific contract and expiry in your broker terminal.
STT / CTT quick reference
| Segment | STT |
|---|---|
| Equity delivery | 0.1% on buy and sell |
| Equity intraday | 0.025% on sell |
| Equity futures | 0.05% on sell (was 0.02% before 1 Apr 2026) |
| Equity options | 0.15% of premium on sell (was 0.10%); 0.15% of intrinsic on exercise |
Educational information, not investment advice. Rules marked "confirm vs circular" are compiled from public reporting and should be verified against the official SEBI / exchange circular before you rely on them. We do not provide tips or return guarantees.