How can I trade in weekly currency options at Zerodha?
NSE has introduced Weekly Options contracts on USDINR and will be allowed for trading w.e.f. December 03, 2018.
The contract specifications are as follows -
|Expiry Date||Every Friday of the week. in case the Friday is a trading holiday, the previous trading day shall be the expiry/last trading day. All contracts shall expire at 12:30 PM on the expiry day.|
|Contract Cycle||11 Serial weekly contracts expiring on Friday, excluding expiry week wherein monthly contracts expires on a Friday.|
New Serial weekly options contract shall be introduced after expiry of the respective week's contract.
Note: All other contract specifications shall be in line with the monthly expiring USDINR options contracts.
To add these contracts to your Market watch, in the universal search on Kite, type out 'USDINR' (space bar) 'date of expiry' (space bar) 'strike price' (space bar) 'CE/PE'. Alternatively, you can just type 'USDINR' followed by the 'Strike price'. You can select the weekly contracts from the dropdown.
The trading symbol USDINR1910471CE stands for -
USDINR - underlying
19 - Year
1 - January
04 - weekly expiry day
71 - Strike
CE - Call (or Put - PE)
Another example - USDINR1921569PE - implies - USD-INR pair, the year 2019, 2nd month of the year i.e Feb, 15 - expiry day, PE - put option.
Note: For monthly contracts, just type the currency pair [USDINR] space [contract month] space [strike].