As per NSE circular (https://archives.nseindia.com/content/circulars/FAOP57540.pdf) effective September 4, 2023, Bank Nifty weekly options will expire on Wednesdays. Existing weekly options with a Thursday expiry date will be changed and renamed to Wednesday from September 4, 2023. Here are some important points to keep in mind about this change:

  1. Any previously deployed strategy with outdated weekly expiry dates (such as September 7th) cannot be tracked. Please stop and redeploy these strategies with the latest contracts (example: 6th September)
  2. You can directly search specific weekly option contracts and you will be able to select the latest contracts with the updated expiry dates and use it in backtesting and deployments without any problem.
  3. Monthly expiry contracts will continue to expire on the last Thursday of each month and hence strategies that have monthly option contracts do not require any change. 
  4. For strategies deployed with Dynamic contract, the contract details have been updated. However, we will be monitoring data feeds to make sure that the renamed contract data is being received and older data for all the renamed contracts is also available, so there may be edge cases during the early market minutes, due to which some alerts are missed or delayed on September 4th where we may receive data as per old contract expiry dates from the data vendor. Our team is closely monitoring and addressing any issues at the earliest.

We appreciate your cooperation. If you have any further questions or concerns, please feel free to reach out to us at [email protected].