On the 16 Jun 2026 expiry, out of the money strikes settled at zero and in the money strikes at their gap
| Calls | Strike | Puts |
|---|---|---|
| Settle | Settle | |
| 239.15 | 23,750 | 0.00 |
| 189.15 | 23,800 | 0.00 |
| 139.15 | 23,850 | 0.00 |
| 89.15 | 23,900 | 0.00 |
| 39.15 | 23,950 | 0.00 |
| Spot 23,989.15 | ||
| 0.00 | 24,000ATM | 10.85 |
| 0.00 | 24,050 | 60.85 |
| 0.00 | 24,100 | 110.85 |
| 0.00 | 24,150 | 160.85 |
| 0.00 | 24,200 | 210.85 |
| 0.00 | 24,250 | 260.85 |
Shaded cells are in the money. Outlined cells hold the most open interest among the strikes shown. OI is in units and volume is in contracts; L is lakh and Cr is crore.
The chart uses the NIFTY weekly for 16 Jun 2026, the expiry day, taken at the close. Its settle column is the final value, and shaded cells are in the money. Every out of the money strike shows zero, and every in the money strike shows the gap between the strike and the close.
A call is in the money when the index is above its strike. A put is in the money when the index is below it. Intrinsic value is that gap, and it is the only value an option keeps at expiry, because the time value has run out by then.
For a buyer, an out of the money option lapses worthless, and the premium paid is the whole loss. That is the most a buyer can lose on an option. An in the money option pays its buyer the intrinsic value, and the buyer's result is that amount less the premium paid.
For a seller, an out of the money option keeps the premium. An in the money option costs the seller its intrinsic value, less the premium received. That loss can be larger than the premium, which is why margin is held against the position.
Two more points. The buyer of an in the money index option pays STT on its intrinsic value, at the rate on NSE's STT page, and it comes out of the gain. Stock options settle physically, so the settlement is in shares. This page explains the rule. Your broker's notice covers any position you hold.
Before you trade. Derivatives trading carries a high risk of loss. SEBI's study "Profitability of Individual Traders in the Equity Derivatives Segment (FY25 to FY26)" (August 2026) found that 87.7% of individual traders in equity F&O made net losses in FY26, with aggregate net losses of Rs 91,685 crore. Read the SEBI study