Bull put spread on Nifty 50
Sell a put and buy a lower-strike put. You collect a premium up front and keep it if the index stays above the sold 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 stay above a level by expiry, with the loss capped by the bought put.
| Leg | Premium per unit | Cash flow |
|---|---|---|
| Sell 1 lot 24,750 PE | ₹83.61 | +₹5,434 |
| Buy 1 lot 24,250 PE | ₹10.20 | −₹663 |
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 put spread on Nifty 50?
In this illustrative example, ₹27,728 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 profit on a bull put spread?
The net premium received, if the index ends above the sold put strike at expiry.
What is the maximum loss?
The difference between the strikes minus the net premium, times the lot size, if the index ends below the bought put strike.