Upcoming F&O Expiry - Jan’ 2026

For traders involved in trading Futures and Options (F&O), it becomes an utmost necessity to be aware of the expiration date for effective position management. The expiry date denotes the last trading day for derivatives contracts, after which the trading positions are squared off, rolled over to the next month, or settled as per exchange rules.Starting from January 2026, several changes have been incorporated in the F&O contracts, including changes in the lot sizes and expiry schedules. In this blog, we will explore all upcoming F&O equity dates in January 2026 for equity indices, stocks, and commodities trading.What are F&O expiry dates?Now, before going into the details about the specific dates for different F&O contracts, let us understand what expiry dates are in the F&O contracts. Expiry date is the last day upon which a futures or options contract will be considered active or tradeable. After this date, the contract ceases to exist, and the trader has to:Square off positions: Close all open positions before the expiration of the contract to avoid settlement obligations.Roll over: Close out the current month's futures contract and open a position in the next month's futures contract.Let it expire: For options, if they are out of the money (OTM), they expire worthless, and if they are in the money (ITM), they can be exercised or auto-settledThe expiry days often see higher volatility and trading activity as compared to normal trading days, making it essential for traders to track these dates carefully.Important changes effective January 2026There are some changes in lot sizes and expiry schedules of F&O contracts, which will be effective from January 2026. These changes are:Revised lot sizesNational Stock Exchange (NSE) has introduced revised lot sizes for key index derivatives in order to enhance the efficacy of the market and risk management. These new lot sizes will be effective for all contracts expiring from December 30, 2025, onwards. The first weekly expiry reflecting these new lot sizes will be on January 6, 2026, and then the monthly expiry on January 27, 2026. The revised lot sizes are: IndexCurrent LotNew LotNifty 50 75 65 Nifty Bank (BANKNIFTY)35 30 Nifty Financial Services (FINNIFTY)65 60 Nifty Mid Select (MIDCPNIFTY)140 120 Nifty Next 50 25 No Change Revised expiry daysEarlier this year, new changes were implemented regarding the expiry dates for NSE/BSE Contracts. From September 2025, there was an alteration regarding the expiry date for NSE Contracts. All monthly contract expiries now expire on the last Tuesday of the expiry month instead of having them expire on Thursdays. The weekly contract expiries shift to Tuesdays from Thursdays of the expiration week.In a similar scenario, for BSE contracts, the expiry date is moved to Thursday of the expiry month, along with a change in the weekly expiry date to Thursday from Tuesday of the expiry week.Index expiries (NSE & BSE)No contract expires on holidays. If any expiry falls on a holiday, the expiry dates shift to the previous business day. NSE indices follow weekly Tuesdays and monthly last Tuesday; BSE's SENSEX follows Thursdays and last Thursday for monthly expiries. ExchangeContract TypeIndexExpiry Dates NSEWeeklyNIFTY 50Tuesday of the expiry week (6, 13, 20, 27)NSEMonthlyNIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY, NIFTY Next 5027 Jan (Last Tuesday of the expiry month) BSEWeeklySENSEXThursday of the expiry week (1, 8, 15, 22, 29)BSEMonthlySENSEX, BANKEX, SX5029 Jan (Last Thursday of the expiry month) Stock expiries (NSE & BSE)Individual stock options expire monthly on NSE's last Tuesday (27 Jan); futures align similarly. BSE stocks follow index patterns, and the stock options and futures expiry fall on the last Thursday of the expiry month. Stock options expire on the last Tuesday of every month on the NSE, while stock futures also follow the same pattern. While BSE stocks, futures, and options have expiry on the last Thursday of the expiry month. ExchangeSegmentContract TypeExpiry Date (Jan 2026)NSEStock Options/FuturesStocks27 Jan (Last Tuesday of the expiry month)BSEStock Options/FuturesStocks29 Jan (Last Thursday of the expiry month) Commodity expiries (MCX)MCX expiry dates vary by the different commodity types like metal, energy, and agricultural commodities. ExchangeCommodity GroupContract TypeExpiry DateMCXGoldMFutures5 JanMCXCrude OilM, Crude OilFutures16 JanMCXNickelFutures21 JanMCXMCXMETDEXFutures22 JanMCXCrude OilM, Crude OilOptions14 Jan MCXMCXMETDEXOptions22 JanMCXCopperOptions22 JanMCXZincOptions22 JanMCXNaturalgasOptions22 JanMCXNatgasminiOptions22 Jan ConclusionKnowing when F&O contracts are expiring is an integral part of developing successful trading strategies for derivatives contracts. January 2026 marks major shifts with revised lot sizes and new expiry dates for stocks, indices, and commodities contracts. Whether you are trading equity on NSE/BSE or commodities on MCX, it’s essential to have their contracts' expiry dates in your calendar to advance plan your strategy of managing positions, which will assist you in dealing with high volatility and unprecedented surprises near or on expiry dates.It is essential to remember that expiry dates are not only timelines but also opportunities in themselves.

Upcoming F&O Expiry - Jan’ 2026

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