All In-The-Money (ITM) Silver M Options contracts expiring on 19th November 2025 will automatically devolve into futures contracts if they are not squared off before expiry.

Since ITM options convert into a futures position upon expiry, there is a risk of margin shortfall or potential debt if sufficient margin is not maintained. To avoid this, all ITM open positions may be squared off on 18th November 2025 anytime after 9:00 PM.

Important Instructions

• Ensure adequate futures margin is maintained well in advance to avoid square-off or margin penalties.

• Check applicable margin requirements using our MCX Margin Calculator.

• It is recommended to square off ITM options before expiry to avoid unintended futures positions.

• Square-off Alert: Any open ITM options positions may be squared off anytime after 9:00 PM on 18th November 2025 to prevent potential risks.

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