The National Stock Exchange (NSE) on Monday launched index options trading on S&P CNX Nifty, with 442 contracts with notional value of around Rs 10 crore being traded on the first day.
The maiden trade was a far month August put option with a strike price of Rs 1,140 at a premium of Rs 45.
According to a NSE release, a significant proportion of contracts were traded in the near month call 'At the Money' , that is,. in the June call option strike price of Rs 1140. As the Nifty fell through the day, fair number of 'in the money' contracts, that is, June call option strike of 1100 were also traded. It is interesting to note that a fair number of 'out of the money' June put options strike price of Rs 1,100 were also traded.
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The total turnover of the future and options segment of the exchange today was around Rs 23 crore including S&P CNX Nifty Futures of Rs 13 crore. The notional value of the option contracts traded was around Rs 10 crore.
The Bombay Stock Exchange (BSE) had last week started the index option on Sensex and became the first bourse in the country to launch the index option trading.
On Monday, in the BSE index option segment, 39 contracts worth 9.27 lakh were traded and total number of trades were 20. On the first day, the BSE index option segment traded contracts of around Rs 16 lakh.