Regd.

Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051 Page 1 of 1

NATIONAL STOCK EXCHANGE OF INDIA LIMITED
DEPARTMENT : FUTURES & OPTIONS
Download Ref No : NSE/FAOP/24007 Date : July 29, 2013
Circular Ref. No : 058/2013

To All Members,
Sub: Revision in scheme of strikes in Nifty Index Options
This is in partial modification to F&O consolidated circular ref no. 042/2012 (Download Ref No.
NSE/FAOP/20615) dated April 24, 2012. Based on the feedback received from market participants,
the Exchange has decided to revise the strike parameters for near expiries (i.e. Near, Mid and Far
month expiries) Nifty Options contracts as below:
Nifty Index
Level
Strike
Interval
Number of strikes
In the money- At the money- out of the money
All levels 50 30 - 1 - 30

The previous days closing value of Nifty index shall be rounded off to the nearest strike price for
arriving at the at-the-money strike.
All the near expiry contracts generated in Nifty index options (i.e. Near, Mid and Far month
expiries) shall follow the above strike parameter scheme with effect from August 30, 2013.

For Nifty long term options contracts (i.e. Quarterly and Half yearly expiries) and options contracts
on other indices the existing strike scheme will continue to be applicable.

For and on behalf of
National Stock Exchange of India Limited


Suprabhat Lala
Vice President





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