so i won't get october4300 call on expiry if nifty closes above 4300?means exchange will just calculate my profit and debit it on my account?
....one more question what would happen if nifty just closes below 1 point (4299) at expiry?will my call option end worthless?
Yes rinku,Sept call gets excercised on last Thursday of Sept.It does NOT get carried over to Oct. If you are bullish in Oct you have to buy Oct call and pay separate premium for that.For Sept ,the exchange will calculate yr profit and CREDIT the amount to you.
If Nifty closes anywhere at or below the strike price ( 4300 in yr case ) then the call expires worthless and you will loose the entire premium paid while buying this call.
From your questions you appear to be totally new in derivatives. Understand it and do it safely.
Best Wishes,Trade safe !!!
Smart_trade