Bank Nifty was trading above 23900 on majority of last half an hour , which computes closing prices for settlement . Market Participant in fact all option writer in this Strike price were expecting BANKNIFTY close above 23900 so there were no buyer in 23900 Put Option and all option buyer were standing as seller in 5 paise but could not sq off as there were no Buyer.
@MewarLion
I missed this point completely! I thought you were referring to the Rs.11.35 that had to be paid by the 23900 PE option seller, as against squaring off at 0.05! And from 3:00pm to 3:22pm, BankNifty was below 23900. Futures usually track the average, but there are exceptions!
@headstrong007 Thanks for pointing out.
BTW, few lakhs for discount brokers is nothing, considering the volumes that they are doing. So the authorities will not bother about this. But unnecessary loss is a great loss anyway.
All kind of representation has been made.
@MewarLion
I agree, but that has not produced any useful result.
I feel that the representation had been made incorrectly. I believe that I have enough material on this. I intend to tread a different path, by which people who had their ITM options exercised and charged STT should be able to
GET THEIR STT BACK ALMOST FULLY, ALONG WITH COMPENSATION AND POSSIBLY EVEN A BONANZA!
That is the reason I wanted to know how many would support this cause! I have only asked for people to 'Like' and even for that, there is hardly any response!
@MewarLion
I missed this point completely! I thought you were referring to the Rs.11.35 that had to be paid by the 23900 PE option seller, as against squaring off at 0.05! And from 3:00pm to 3:22pm, BankNifty was below 23900. Futures usually track the average, but there are exceptions!
@headstrong007 Thanks for pointing out.
BTW, few lakhs for discount brokers is nothing, considering the volumes that they are doing. So the authorities will not bother about this. But unnecessary loss is a great loss anyway.
All kind of representation has been made.
@MewarLion
I agree, but that has not produced any useful result.
I feel that the representation had been made incorrectly. I believe that I have enough material on this. I intend to tread a different path, by which people who had their ITM options exercised and charged STT should be able to
GET THEIR STT BACK ALMOST FULLY, ALONG WITH COMPENSATION AND POSSIBLY EVEN A BONANZA!
That is the reason I wanted to know how many would support this cause! I have only asked for people to 'Like' and even for that, there is hardly any response!