NIFTY expiry 30 June 2026: what the 23,850 options did in the last 30 minutes
On Tuesday 30 June 2026 the NIFTY strike nearest the index at 15:00 was 23,850. The index went from 23,866 at 15:00 to 23,918 at 15:30, up 52 points across the settle walk.
The at-the-money legs, 15:00 to 15:30
| Leg | 15:00 | High | Low | 15:30 | End vs 15:00 | Open interest |
|---|---|---|---|---|---|---|
| 23,850 CE | ₹24.4 | ₹24.4 15:00 | ₹6.4 15:04 | ₹15.8 | 0.6× | 5.4M → 9.2M |
| 23,850 PE | ₹12.1 | ₹21.4 15:01 | ₹0.1 15:22 | ₹0.1 | worthless | 23.9M → 23.2M |
Premium of the strike nearest the index at 15:00, sampled every ten seconds from the NSE option chain. Index values are the chain's own quote. Dotted verticals mark a pin-book flip on Gamma Terrain.
What happened
The 23,850 call was ₹24.4 at 15:00. It never traded meaningfully above its 15:00 price. Its low was ₹6.4 at 15:04, less than half of where it started the half hour. It ended at ₹15.8, 0.6× the 15:00 price. Open interest at the strike went from 5.4 million to 9.2 million, so positions were added through the window.
The 23,850 put was ₹12.1 at 15:00. Its high was ₹21.4 at 15:01. Its low was ₹0.1 at 15:22, less than half of where it started the half hour. It ended at ₹0.1, worthless.
Chain quotes were missing 15:00–15:01, 15:01–15:02, 15:02–15:03, 15:03–15:04, 15:04–15:05, 15:05–15:06, 15:06–15:07, 15:07–15:08, 15:08–15:09, 15:09–15:10, 15:10–15:11, 15:11–15:12, 15:12–15:13, 15:13–15:14, 15:14–15:15, 15:15–15:16, 15:16–15:17, 15:17–15:18, 15:18–15:19, 15:19–15:20, 15:20–15:21, 15:21–15:22, 15:22–15:23, 15:23–15:24, 15:24–15:25, 15:25–15:26, 15:26–15:27, 15:27–15:28, 15:28–15:29, 15:29–15:30: the exchange rate-limited the poll in the endgame, so the chart shows a hole there rather than a line. Highs and lows inside a hole are not known.
For context, across 21 NIFTY and SENSEX expiries measured to 2026-09-08, 15 of 42 at-the-money legs doubled at some point in this window, 26 lost half, and 13 ended at or above their 15:00 price. This page states what the tape did. It is not a recommendation to buy or sell anything.
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The recap is the after-photo. The terrain is the window while it happens.
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