Bull call spread on Nifty 50
Buy a call and sell a higher-strike call with the same expiry. You pay less than for the call alone, and give up gains above the upper strike. Shown per lot of 65 with illustrative numbers.
Contract basics. Nifty 50 lot size: 65. Nifty 50 has weekly options expiring every Tuesday, so this example uses 7 days to expiry. Strikes in this example are rounded to the 50-point strike interval.
A structure for a view that the index will rise moderately by expiry, with a known maximum loss.
| Leg | Premium per unit | Cash flow |
|---|---|---|
| Buy 1 lot 25,000 CE | ₹209.21 | −₹13,599 |
| Sell 1 lot 25,500 CE | ₹44.20 | +₹2,873 |
Profit and loss at expiry
For the whole position, before charges.
Premiums are theoretical Black–Scholes values from round, illustrative inputs, not market prices. Charges and margin are not included.Price a single leg with your own numbers.
Frequently asked questions
What is the maximum loss of a bull call spread on Nifty 50?
In this illustrative example, ₹10,726 per set of legs (lot size 65), before charges.
What is the lot size of Nifty 50 options?
65 units per lot at the time of writing. Lot sizes are revised by the exchange from time to time; check the current size before trading.
When do Nifty 50 options expire?
Nifty 50 has weekly options expiring every Tuesday, so this example uses 7 days to expiry.
What is the maximum loss on a bull call spread?
The net premium paid for the spread, plus charges. It is reached if the index ends at or below the lower strike at expiry.
What is the maximum profit?
The difference between the strikes minus the net premium, times the lot size. It is reached if the index ends at or above the upper strike.