MCX has revised the number of available strike prices for Crude Oil Options contracts effective March 2, 2026. This change has been introduced to ensure wider strike coverage and better price discovery amid heightened volatility in crude oil markets.
The revision applies to both regular and mini contracts, including running contracts and those launched going forward.
What Has Changed?
Crude Oil Options on Futures (100 bbls)
| Parameter | Earlier | Revised |
|---|---|---|
| ITM Strikes | 25 | 75 |
| ATM Strikes | 1 | 1 |
| OTM Strikes | 25 | 75 |
| Total Strikes (Per Side) | 51 CE & 51 PE | 151 CE & 151 PE |
| Applicability | Running Contracts | Running & Upcoming Contracts |
Crude Oil Mini Options on Futures (10 bbls)
| Parameter | Earlier | Revised |
|---|---|---|
| ITM Strikes | 25 | 75 |
| ATM Strikes | 1 | 1 |
| OTM Strikes | 25 | 75 |
| Total Strikes (Per Side) | 51 CE & 51 PE | 151 CE & 151 PE |
| Applicability | Running Contracts | Running & Upcoming Contracts |
What This Means
Wider strike availability for strategy execution
Improved flexibility during volatile market conditions
No changes to lot size, tick size, expiry mechanism, margin framework, or settlement process
The exchange may introduce additional strikes if required.
Please review open positions, strike-based strategies, and pending orders accordingly.
For complete details, refer to MCX Circular No. MCX/TRD/100/2026 dated March 01, 2026.
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