Query regarding exercise of options

When I exercise my option, is the current spot price considered or the end-of-day price?

For example, I have a Infosys 1900 call option. At 1pm Infosys is at 2000 and I exericse my option at 1pm. Do I get the price at 1pm which is 2000 or do I get the price at the end of day (which might be substantially different from 2000)??

Thanks

EOD closing price

thanks for your quick reply!

Can you point me to the website where this and other such information is present? I tried to find it but could not even after 2 hours of searching.

Thanks

You could go thru the material here, http://content.icicidirect.com at the icici university link.

If you dont find it there come back here.

I had already read that website. I could not find it mentioned anywhere that exercise is based on EOD closing price.

Any other pointers?

Thanks

Nope its a settllement bhav which is diff from closing.

thanks

Reproduced from NSE site

Cheers

http://www.nse-india.com/content/nsccl/nsccl_fosettprice.htm

Settlement Price

Product Settlement Settlement Price
Futures Contracts on Index or Individual Security Daily Settlement Closing price of the futures contracts on the trading day. (The closing price is the last half hour weighted average price of the contract).
Un-expired illiquid futures contracts Daily Settlement Theoretical Price computed as per formula F=S * ert
Futures Contracts on Index or Individual Securities Final Settlement Closing price of the relevant underlying index / security in the Capital Market segment of NSE, on the last trading day of the futures contracts.
(The closing price of the underlying index / security is its last half an hour weighted average value / price in the Capital Market segment of NSE).
Options Contracts on Individual Securities Interim Exercise Settlement Closing price of such underlying security on the day of exercise of the options contract.
(The closing price of the underlying security is its last half an hour weighted average price in the Capital Market Segment of NSE). Options Contracts on Index and Individual Securities Final Exercise Settlement Closing price of such underlying security (or index) on the last trading day of the options contract.
(The closing price of the underlying security (or index) is its last half an hour weighted average price in the Capital Market Segment of NSE).

Thanks. I appreciate it very much!