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Just how many options actually expire worthless?
Posted: Oct 9, 2022 16:20
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Overall statistics for all Options Months from Aug 2021 to Feb 2023 are given just after the small section below.
Options Trading is included in our Trading and Investing Strategies online course.
The course is built on proven strategies which will help you increase your returns substantially, make informed decisions, and understand markets better.
Options are included in the course because of the many solutions they offer. Options are taught at a complete beginner level, and slowly taken to professional trading strategies. As with other topics in the course, participants receive powerful spreadsheets which they can continue to use forever.
Analysis of option expiry month ending 23 February 2023
43337 contracts were listed on 27 January 2023.
15628 of these had an expiry date of 23 February 2023 of which 6542 were traded.
(a) 50252 contracts were listed in the 23 February 2023 bhav copy.
(b) 17360 of those contracts expired that day.
(c) 8678 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 8682 closed worthless (calls closing below the strike price, and puts above).
(e) 8209 of the expiring options traded (at least one contract) that day.
(f) 3135 of these traded contracts closed with a profit, and 5074 expired worthless.
15628 options expiring on Feb 23 existed on Jan 27, of which 6510 were traded on both days.
1376 (21.1%) of these finished with a gain, 945 (14.5%) made a loss but did not finish worthless, and 4189 (64.3%) expired worthless.
The biggest gainer was OPTSTKHDFCLIFE23-FEB-2023PE520 which went up 41.44 times.
The underlying (HDFCLIFE) lost 17.15% over the same period.
There were 12 puts and 8 calls in the top 20 option gainers.
The top performing call was OPTSTKVOLTAS23-FEB-2023CE870. It went up 24.48 times. The underlying Voltas gained 20.89% over the month. It was ranked fourth among option gainers.
108 options went up five times or more.
Special Note. The top gainer among the Adani contracts was OPTSTKADANIENT23-FEB-2023PE2250. It went up 15.57 times. The underlying Adani Enterprises fell 49.93%.
Analysis of option expiry month ending 25 January 2023
48613 contracts were listed on 30 December 2022.
19704 of these had an expiry date of 25 January 2023 of which 6451 were traded.
(a) 52187 contracts were listed in the 25 January 2023 bhav copy.
(b) 20430 of those contracts expired that day.
(c) 10209 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 10221 closed worthless (calls closing below the strike price, and puts above).
(e) 7651 of the expiring options traded (at least one contract) that day.
(f) 2928 of these traded contracts closed with a profit, and 4723 expired worthless.
19704 options expiring on Jan 25 existed on Dec 30, of which 6446 were traded on both days.
1373 (21.3%) of these finished with a gain, 828 (12.8%) made a loss but did not finish worthless, and 4242 (65.8%) expired worthless.
The biggest gainer was OPTSTKINDUSTOWER25-JAN-2023PE170 which went up 26.89 times.
The underlying (INDUSTOWER) lost 17.09% over the same period.
There were 14 puts and 6 calls in the top 20 option gainers.
The top performing call was OPTSTKMFSL25-JAN-2023CE740. It went up 23.97 times. The underlying Max Financial Services gained 26.03% over the month. It was ranked second among option gainers.
128 options went up five times or more.
Analysis of option expiry month ending 29 December 2022
50763 contracts were listed on 25 November 2022.
17880 of these had an expiry date of 29 December 2022 of which 6387 were traded.
(a) 53191 contracts were listed in the 29 December 2022 bhav copy.
(b) 18524 of those contracts expired that day.
(c) 9247 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 9277 closed worthless (calls closing below the strike price, and puts above).
(e) 7549 of the expiring options traded (at least one contract) that day.
(f) 2868 of these traded contracts closed with a profit, and 4681 expired worthless.
17880 options expiring on Dec 29 existed on Nov 25, of which 6325 were traded on both days.
1175 (18.6%) of these finished with a gain, 951 (15.0%) made a loss but did not finish worthless, and 4199 (66.4%) expired worthless.
The biggest gainer was OPTSTKLAURUSLABS29-DEC-2022PE380 which went up 18.00 times.
The underlying (LAURUSLABS) lost 18.10% over the same period.
The top 20 option gainers were all puts.
The top performing call was OPTSTKRBLBANK29-DEC-2022CE167.5. It went up 4.74 times. The underlying RBL Bank gained 17.63% over the month. It was ranked 40th among option gainers.
Only 31 options went up five times or more.
Analysis of option expiry month ending 24 November 2022
59280 contracts were listed on 28 October 2022.
18690 of these had an expiry date of 24 November 2022 of which 6413 were traded.
(a) 60439 contracts were listed in the 24 November 2022 bhav copy.
(b) 19334 of those contracts expired that day.
(c) 9662 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 9672 closed worthless (calls closing below the strike price, and puts above).
(e) 7566 of the expiring options traded (at least one contract) that day.
(f) 2862 of these traded contracts closed with a profit, and 4704 expired worthless.
18690 options expiring on Nov 24 existed on Oct 28, of which 6362 were traded on both days.
1268 (19.9%) of these finished with a gain, 904 (14.2%) made a loss but did not finish worthless, and 4187 (65.8%) expired worthless.
The biggest gainer was OPTSTKAMARAJABAT24-NOV-2022CE600 which went up 40.30 times.
The underlying (AMARAJABAT) gained 27.07% over the same period.
The top 20 option gainers were all calls.
The top performing put was OPTSTKBANDHANBNK24-NOV-2022PE235. It went up 7.14 times. The underlying Bandhan Bank fell 19.92%% over the month. It was ranked 49th among option gainers.
92 options went up five times or more.
Analysis of option expiry month ending 27 October 2022
60858 contracts were listed on 30 September 2022.
19448 of these had an expiry date of 27 October 2022 of which 6433 were traded.
(a) 62264 contracts were listed in the 27 October 2022 bhav copy.
(b) 19832 of those contracts expired that day.
(c) 9914 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 9918 closed worthless (calls closing below the strike price, and puts above).
(e) 7578 of the expiring options traded (at least one contract) that day.
(f) 2815 of these traded contracts closed with a profit, and 4763 expired worthless.
19448 options expiring on Oct 27 existed on Sep 30, of which 6385 were traded on both days.
1226 (19.2%) of these finished with a gain, 943 (14.8%) made a loss but did not finish worthless, and 4216 (66.0%) expired worthless.
The biggest gainer was OPTSTKMOTHERSON27-OCT-2022PE85 which went up 60.71 times.
The underlying (MOTHERSON) lost 41.51% over the same period.
There were 17 calls and 3 puts in the top 20 option gainers.
The top performing call was OPTSTKAXISBANK27-OCT-2022CE870. It went up 41.05 times. The underlying Axis Bank went up 24.82% over the month. It was ranked second among option gainers.
75 options went up five times or more.
Analysis of option expiry month ending 29 September 2022
59598 contracts were listed on 26 August 2022.
18684 of these had an expiry date of 29 September 2022 of which 6085 were traded.
(a) 63063 contracts were listed in the 29 September 2022 bhav copy.
(b) 19825 of those contracts expired that day.
(c) 9908 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 9917 closed worthless (calls closing below the strike price, and puts above).
(e) 8323 of the expiring options traded (at least one contract) that day.
(f) 3129 of these traded contracts closed with a profit, and 5194 expired worthless.
18684 options expiring on Sep 29 existed on Aug 26, of which 5931 were traded on both days.
1245 (21.0%) of these finished with a gain, 741 (12.5%) made a loss but did not finish worthless, and 3945 (66.5%) expired worthless.
The biggest gainer was OPTSTKGAIL29-SEP-2022PE110 which went up 160.67 times.
The underlying (GAIL) lost 36.16% over the same period.
There were 6 calls and 14 puts in the top 20 option gainers.
The top performing call was OPTSTKAMBUJACEM29-SEP-2022CE465. It went up 13.78 times. The underlying Ambuja Cement went up 25.69% over the month. It was ranked 13th among option gainers.
Exactly 100 options went up five times or more.
Analysis of option expiry month ending 25 August 2022
60955 contracts were listed on 29 July 2022.
20338 of these had an expiry date of 25 August 2022 of which 6588 were traded.
(a) 64022 contracts were listed in the 25 August 2022 bhav copy.
(b) 21134 of those contracts expired that day.
(c) 10567 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 10567 closed worthless (calls closing below the strike price, and puts above).
(e) 8218 of the expiring options traded (at least one contract) that day.
(f) 3109 of these traded contracts closed with a profit, and 5109 expired worthless.
20338 options expiring on Aug 25 existed on Jul 29, of which 6564 were traded on both days.
1357 (20.7%) of these finished with a gain, 959 (14.6%) made a loss but did not finish worthless, and 4248 (64.7%) expired worthless.
The biggest gainer was OPTSTKRECLTD25-AUG-2022PE115 which went up 28.80 times.
The underlying (REC) lost 17.71% over the same period.
There were 17 calls and three puts in the top 20 option gainers.
The top performing call was OPTSTKRBLBANK25-AUG-2022CE112.5. It went up 17.50 times. The underlying RBL Bank went up 38.75% over the month. It was ranked second among option gainers.
83 options went up five times or more.
Analysis of option expiry month ending 28 July 2022
63706 contracts were listed on 01 July 2022.
21370 of these had an expiry date of 28 July 2022 of which 6190 were traded.
(a) 65557 contracts were listed in the 28 July 2022 bhav copy.
(b) 22022 of those contracts expired that day.
(c) 11007 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 11015 closed worthless (calls closing below the strike price, and puts above).
(e) 7942 of the expiring options traded (at least one contract) that day.
(f) 3246 of these traded contracts closed with a profit, and 4696 expired worthless.
21370 options expiring on Jul 28 existed on Jul 01, of which 6095 were traded on both days.
1688 (27.7%) of these finished with a gain, 694 (11.4%) made a loss but did not finish worthless, and 3712 (60.9%) expired worthless.
The biggest gainer was OPTSTKBAJFINANCE28-JUL-2022CE6700 which went up 42.80 times.
The underlying (Bajaj Finance) gained 26.04% over the same period.
The top 20 option gainers were all calls. In fact the top 1146 option gainers were calls!
The top performing put was OPTSTKHDFCLIFE28-JUL-2022PE560. It went up 2.02 times. The underlying HDFC Life lost 5.98% over the month. It was ranked 1147 among option gainers.
344 options went up five times or more.
Analysis of option expiry month ending 30 June 2022
62717 contracts were listed on 27 May 2022.
20248 of these had an expiry date of 30 June 2022 of which 6598 were traded.
(a) 65141 contracts were listed in the 30 June 2022 bhav copy.
(b) 20938 of those contracts expired that day.
(c) 10454 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 10484 closed worthless (calls closing below the strike price, and puts above).
(e) 8226 of the expiring options traded (at least one contract) that day.
(f) 3302 of these traded contracts closed with a profit, and 4924 expired worthless.
20248 options expiring on Jun 30 existed on May 27, of which 6502 were traded on both days.
1351 (20.8%) of these finished with a gain, 906 (13.9%) made a loss but did not finish worthless, and 4243 (65.3%) expired worthless.
The biggest gainer was OPTSTKGUJGASLTD30-JUN-2022PE440 which went up 23.44 times.
The underlying (Gujarat Gas) lost 24.39% over the same period.
The top 20 option gainers were all puts. In fact the top 34 option gainers were puts.
The top performing call was OPTSTKTVSMOTOR30-JUN-2022CE790. It went up 7.17 times. The underlying TVS Motors gained 16.34% over the month. It was ranked 35 among option gainers.
82 options went up five times or more.
Analysis of option expiry month ending 26 May 2022
64299 contracts were listed on 29 April 2022.
21756 of these had an expiry date of 26 May 2022 of which 7184 were traded.
(a) 67925 contracts were listed in the 26 May 2022 bhav copy.
(b) 22760 of those contracts expired that day.
(c) 11379 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 11381 closed worthless (calls closing below the strike price, and puts above).
(e) 9088 of the expiring options traded (at least one contract) that day.
(f) 3671 of these traded contracts closed with a profit, and 5417 expired worthless.
21756 options expiring on May 26 existed on Apr 29, of which 7161 were traded on both days.
2176 (30.4%) of these finished with a gain, 641 (9.0%) made a loss but did not finish worthless, and 4343 (60.6%) expired worthless.
The biggest gainer was OPTSTKNAUKRI26-MAY-2022PE3800 which went up 80.73 times.
The underlying (Info Edge) lost 23.68% over the same period.
The top 20 option gainers were all puts. In fact the top 740 option gainers were puts.
The top performing call was OPTSTKGUJGASLTD26-MAY-2022CE500. It went up 3.28 times. The underlying Gujarat Gas gained 12.26% over the month. It was ranked a lowly 741 among option gainers.
345 options went up five times or more.
Analysis of option expiry month ending 28 April 2022
67089 contracts were listed on 01 April 2022.
22386 of these had an expiry date of 28 April 2022 of which 6876 were traded.
(a) 69449 contracts were listed in the 28 April 2022 bhav copy.
(b) 23256 of those contracts expired that day.
(c) 11626 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 11630 closed worthless (calls closing below the strike price, and puts above).
(e) 8283 of the expiring options traded (at least one contract) that day.
(f) 3227 of these traded contracts closed with a profit, and 5056 expired worthless.
22386 options expiring on Apr 28 existed on Apr 01, of which 6836 were traded on both days.
1240 (18.1%) of these finished with a gain, 997 (14.6%) made a loss but did not finish worthless, and 4598 (67.3%) expired worthless.
The biggest gainer was OPTSTKINFY28-APR-2022PE1660 which went up 23.45 times.
The underlying (Infosys) lost 16.86% over the same period.
The top 20 option gainers were made up of 8 calls and 12 puts. The calls all belonged to Ambuja Cement (8), and the puts to Infosys (8), L&T Infotech (3) and L&T Tech Services (3). They all went up more than 11.6 times.
The top performing call was OPTSTKAMBUJACEM28-APR-2022CE355. It went up 21.81 times. Ambuja Cement gained 25.71% over the month.
78 options went up five times or more.
Analysis of option expiry month ending 31 March 2022
67383 contracts were listed on 25 February 2022.
21685 of these had an expiry date of 31 March 2022 of which 6460 were traded.
(a) 69895 contracts were listed in the 31 March 2022 bhav copy.
(b) 22619 of those contracts expired that day.
(c) 11308 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 11311 closed worthless (calls closing below the strike price, and puts above).
(e) 8282 of the expiring options traded (at least one contract) that day.
(f) 3205 of these traded contracts closed with a profit, and 5077 expired worthless.
21685 options expiring on Mar 31 existed on Feb 25, of which 6425 were traded on both days.
1201 (18.7%) of these finished with a gain, 1013 (15.8%) made a loss but did not finish worthless, and 4210 (65.5%) expired worthless.
The biggest gainer was OPTSTKGNFC31-MAR-2022CE650 which went up 54.01 times.
The underlying (GNFC) gained 54.55% over the same period.
The top 20 option gainers were all calls, and belonged to GNFC (8), Jindal Steel (6), Intellect Design Arena (3) and ITC (3). They all went up more than 18 times.
The top performing put was OPTSTKBIOCON31-MAR-2022PE360. It went up 6.19 times. Biocon lost 14.95% over the month.
209 options went up five times or more.
Analysis of option expiry month ending 24 February 2022
69201 contracts were listed on 28 January 2022.
23276 of these had an expiry date of 24 February 2022 of which 6860 were traded.
(a) 71603 contracts were listed in the 24 February 2022 bhav copy.
(b) 24266 of those contracts expired that day.
(c) 12128 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 12138 closed worthless (calls closing below the strike price, and puts above).
(e) 8542 of the expiring options traded (at least one contract) that day.
(f) 3326 of these traded contracts closed with a profit, and 5216 expired worthless.
23276 options expiring on Feb 24 existed on Jan 28, of which 6860 were traded on both days.
1827 (26.6%) of these finished with a gain, 589 (8.6%) made a loss but did not finish worthless, and 4444 (64.8%) expired worthless.
Analysis of option expiry month ending 27 January 2022
67595 contracts were listed on 31 December 2021.
22056 of these had an expiry date of 27 January 2022 of which 5954 were traded.
(a) 73121 contracts were listed in the 27 January 2022 bhav copy.
(b) 23670 of those contracts expired that day.
(c) 11833 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 11837 closed worthless (calls closing below the strike price, and puts above).
(e) 8496 of the expiring options traded (at least one contract) that day.
(f) 3261 of these traded contracts closed with a profit, and 5235 expired worthless.
22056 options expiring on Jan 27 existed on Dec 31, of which 5930 were traded. 1497 (25.2%) of these finished with a gain, 585 (9.9%) made a loss but did not finish worthless, and 3848 (64.9%) expired worthless.
Analysis of option expiry month ending 30 December 2021
63790 contracts were listed on 26 November 2021.
20818 of these had an expiry date of 30 Dec 2021 of which 6181 were traded.
(a) 66492 contracts were listed in the 30 December 2021 bhav copy.
(b) 21656 of those contracts expired that day.
(c) 10817 of the expired contracts closed with a profit (calls closing above the strike price, and puts below).
(d) 10839 closed worthless (calls closing below the strike price, and puts above).
(e) 7691 of the expiring options traded (at least one contract) that day.
(f) 2886 of these traded contracts closed with a profit, and 4805 expired worthless.
20676 options expiring on Dec 30 existed on Nov 26, of which 6124 were traded. 1185 (19.4%) of these finished with a gain, 942 (15.4%) made a loss but did not finish worthless, and 3997 (65.3%) expired worthless.
Analysis of option expiry month ending 25 November 2021
65990 contracts were listed on 29 October 2021. 22526 of these had an expiry date of 25 November 2021 of which 6382 were traded.
(a) 68150 contracts were listed in the 25 Nov 2021 bhav copy.
(b) 23254 of those contracts expired that day.
(c) 11625 of the expired contracts in-the-money (settlement price above the strike price, and puts below).
(d) 11629 expired worthless (settlement below the strike price, and puts above).
(e) 7875 of the expiring options traded (at least one contract) that day.
(f) 2828 of these traded contracts closed in-the-money, and 5047 expired worthless.
22468 options expiring on Nov 25 existed on Oct 29, of which 6379 were traded. 941 (14.8%) of these finished with a gain, 1089 (17.1%) made a loss but did not finish worthless, and 4349 (68.2%) expired worthless.
Analysis of option expiry month ending 28 October 2021
61238 contracts were listed on 01 October 2021. 20122 of these had an expiry date of 28 October 2021 of which 6211 were traded. 19472 appear in the returns sheet.
(a) 69014 contracts were listed in the 28 October 2021 bhav copy. (b) 22750 of those contracts expired that day. (c) 11374 of the expired contracts closed with a profit (calls closing above the strike price, and puts below). (d) 11376 closed worthless (calls closing below the strike price, and puts above). (e) 8711 of the expiring options traded (at least one contract) that day. (f) 3111 of these traded contracts closed with a profit, and 5600 expired worthless.
20122 options expiring on Oct 28 existed on Oct 01, of which 6133 were traded. 1009 (16.5%) of these finished with a gain, 933 (15.2%) made a loss but did not finish worthless, and 4191 (68.3%) expired worthless.
Analysis of option expiry month ending 30 September 2021
52356 contracts were listed on 27 August 2021. 17016 of these had an expiry date of 30 September 2021 of which 5108 were traded.
(a) 59236 contracts were listed in the 30 September 2021 bhav copy. (b) 19218 of those contracts expired that day. (c) 9607 of the expired contracts closed with a profit (calls closing above the strike price, and puts below). (d) 9611 closed worthless (calls closing below the strike price, and puts above). (e) 7751 of the expiring options traded (at least one contract) that day. (f) 2862 of these traded contracts closed with a profit, and 4889 expired worthless.
17016 options expiring on Sep 30 existed on Aug 27, of which 5072 were traded. 1314 (25.9%) of these finished with a gain, 531 (10.5%) made a loss but did not finish worthless, and 3227 (63.6%) expired worthless.
Analysis of option expiry month ending 26 August 2021
50122 contracts were listed on 30 July 2021. 16744 of these had an expiry date of 26 August 2021 of which 5008 were traded.
(a) 53654 contracts were listed in the 26 August 2021 bhav copy. (b) 17852 of those contracts expired that day. (c) 8925 of the expired contracts closed with a profit (calls closing above the strike price, and puts below). (d) 8927 closed worthless (calls closing below the strike price, and puts above). (e) 6453 of the expiring options traded (at least one contract) that day. (f) 2409 of these traded contracts closed with a profit, and 4044 expired worthless.
16744 options expiring on Aug 26 existed on Jul 30, of which 5008 were traded. 1277 (25.5%) of these finished with a gain, 534 (10.7%) made a loss but did not finish worthless, and 3197 (63.8%) expired worthless.
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