Options on NIFTY and BANKNIFTY expire on fixed dates. Choosing the right expiry and understanding DTE (days to expiry) is essential for straddle and strangle strategies. This guide covers expiry types, how we show them on StraddleChart, and how to use expiry with our charts for better timing.
Weekly vs Monthly Expiry
NIFTY and BANKNIFTY have weekly and monthly expiries. Weekly options expire every Thursday (unless it’s a market holiday, in which case the previous working day is used). Monthly options expire on the last Thursday of the month. When you open our Straddle Chart, the expiry dropdown is filled with all available expiries for the selected index so you can pick the series you want.
What is DTE (Days to Expiry)?
DTE is the number of calendar days left until the option expires. It affects:
- Time decay (theta): Shorter DTE means faster time decay. Weekly options decay faster than monthly.
- Premium level: Near-dated options usually have lower total premium (less time value) than far-dated ones, all else equal.
- Volatility: Expiry week often sees higher volatility and sharper moves in ATM premium.
On our index table we show DTE for the nearest future expiry per symbol, so you can see at a glance which indices are close to expiry.
Using Expiry with Straddle Charts
Use the expiry selector on the Straddle Chart and Strangle Chart to:
- Compare premium across expiries: See if weekly straddle is cheap vs monthly (or the opposite) and choose the right tenor.
- Plan event trades: Pick the expiry that includes the event (e.g. RBI policy, results) so you capture the volatility and avoid holding through unnecessary decay.
- Avoid holiday confusion: Check our Market Holidays page so you don’t get caught by an early settlement or closed day near expiry.
Expiry Day Behavior
On expiry day, ATM options are very sensitive to spot movement and can swing sharply. Straddle premium often spikes around open and into the session. Use our Straddle Spikes to get alerts when premium moves 10%, 30%, 50% or 100%, so you can react to volatility spikes on expiry or any day.
Summary
NIFTY and BANKNIFTY have weekly (typically Thursday) and monthly (last Thursday) expiries. DTE drives time decay and premium; shorter DTE means faster theta. Use our Straddle Chart expiry dropdown and DTE display to pick the right series and combine with Straddle Spikes and Market Holidays for better timing and risk management.