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All In-The-Money (ITM) Gold and Silver Options contracts expiring on 26th November 2025 will automatically devolve into futures contracts if they are not squared off before expiry.
Since ITM options convert into a futures position on expiry, there is a risk of margin shortfall or potential debt if sufficient margin is not available. To avoid this, all ITM open positions may be squared off on 25th November 2025 anytime after 9:00 PM.
Important Instructions
Ensure that adequate futures margin is available in your account well before expiry to avoid auto square-off or penalties.
Check margin requirements using our MCX Margin Calculator.
It is strongly advised to square off ITM options ahead of expiry to avoid unintended futures positions.
Square-off Alert: Any ITM options positions may be squared off anytime after 9:00 PM on 25th November 2025 to prevent potential risks.
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