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Changes in Lot Size

What is the change in lot size for long dated options and do I need to square off my long-dated positions?

Any Nifty/Bank Nifty options with expiry in March, June, or September 2026 are classified as long-dated.

For long-dated Nifty and Bank nifty:

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Index Derivatives
Expiration Cycle
Expiry Date
Particulars
NIFTY
Quarterly & Half Yearly
31-Mar-2026*
Lot size of all existing quarterly and half yearly expiry contracts will be revised from December 30, 2025 (EOD) i.e.,65
BANK NIFTY
Quarterly
31-Mar-2026*
Lot size of all existing quarterly expiry contracts will be revised from December 30, 2025 (EOD) i.e.,30

* Please note, the March 2026 contract which was introduced as quarterly contract will become far month contract of the respective index derivatives on December 2025 monthly expiry day (EOD)

Since the lot size is changing on 30 December, 2025, EOD, all long-dated contracts (Mar/Jun/Sep 2026) based on the old lot size will no longer be tradable in their current structure.

Therefore, customers holding these contracts must match the new lot size multiples or otherwise square off existing positions before the transition.

Example:

Scenario 1: If you hold 975 qty in NIFTY:

• Lots as per old definition = 13 lots (13 × 75)
• Lots as per new definition = 15 lots (15 × 65)

➝ This already matches the new multiple, so no action is required.

Scenario 2: If you hold 900 qty (not a multiple of 65)
➝ You must adjust the quantity to match the revised lot size.

Scenario 3: If you hold 1050 qty (not a multiple of 65)
➝ You must adjust the quantity to match the revised lot size.

NOTE: Kindly make quantity adjustments for your open positions to align with revised lot size by December 26, 2025, post which no fresh positions shall be allowed. If your positions are not aligned to the new lot sizes, system shall attempt square-off of your positions from 29 December 2025 (12:30 PM) till December 30, 2025 (12 PM).