No New Positions: From the Friday prior to expiry date, fresh positions in Stock Futures or Stock Options (current month) are not allowed. You can only square off existing positions.
Margin Requirements: To take or give physical delivery, you must maintain 100% of the contract value as margin by expiry day (Thursday) before 2:00 PM. Margins are collected incrementally:
Friday: 10%
Monday: 25%
Tuesday: 45%
Wednesday: 70%
Thursday (Expiry day): 100%
Failure to meet margin requirements will result in your position being closed by Sahi.
Insufficient Stocks in DP Account: If you are required to deliver stocks (e.g., for short futures or short calls) but do not have enough stocks in your dmeat account, Sahi will close out these positions, and you may face penalties or auction settlement costs.
Delivery Calculations:
Unexpired Futures:
Long Futures → Receive the security (buy position).
Short Futures → Deliver the security (sell position).
In-the-money Options:
Long Call Exercised → Receive the security.
Short Call Assigned → Deliver the security.
Long Put Exercised → Deliver the security.
Short Put Assigned → Receive the security.
The deliverable or receivable quantity is calculated as: Market Lot × Number of Contracts.
Consequences of Non-Compliance: If the required margins or deliverable stocks are not available, your positions may be closed, and any resulting penalties or costs will be charged to your account.
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