Let me preface by saying I am a beginner in the Derivatives and Stocks market.
During the last 30 minutes of the option expiry yesterday,
ONGC fluctuated between 850 and 871, though it had stayed around 850 for most part of the day.
NIFTY 3929-3958
AIRTEL 627-645
WIPRO 591-604
HCLTECH 615-636
So is 2-3% fluctuation under heavy volume normal within the last 30 minutes of the expiry, though the market was mostly flat for most of the day.
And to the experts in this space, can you please explain why this kind of very high volatility exist. Is the wise practice to close positions at least 30 minutes before expiry rather than let the options expire.