Yes, you can roll over F&O (Futures and Options) positions during the ban period, but only under specific conditions set by SEBI's delta-based FutEq OI (Futures Equivalent Open Interest) rules.
Your net delta at the end of the day must be less than or equal to your base delta. Your overall market direction must also stay the same. You cannot switch from a net long position to a net short position, or vice versa.
For example, if you have a net long delta of +200 at the start of the day, your rollover trades must keep your delta at +200 or lower. You cannot bring it down to -50, because that would mean you have switched from a bullish to a bearish position, which is not permitted during the ban period. To learn more about delta and restrictions during the ban period, see Trading restrictions during ban.
What you cannot do during the ban period
- Increase your net delta beyond your base delta.
- Change the delta sign (e.g., positive to negative).
- Create fresh exposure that raises your directional risk.
Penalties for violations
If you violate the ban period rules, the penalty is 1% of the violation value (excess delta quantity × stock closing price), subject to a minimum of ₹5,000 and a maximum of ₹1,00,000 per day, plus 18% GST.
If there is a violation, Zerodha may close your positions. An auto square-off charge of ₹50 + 18% GST will apply per order.