Sebi Sets Intraday Index Option Caps to Check Risky Bets

In a move to rein in risky bets, the Securities and Exchange Board of India (Sebi) has introduced an entity-level framework to monitor intraday positions in equity index options.

- Neha Joshi

Effective 1 October 2025, net intraday positions will be capped at ₹5,000 crore and gross positions at ₹10,000 crore per side.

Per side means the ₹10,000 crore gross cap applies separately to the long side and separately to the short side, while the ₹5,000 crore cap governs the overall net long or net short after offsets. This means up to ₹10,000 crore on the buy side and separately up to ₹10,000 crore on the sell side during the trading day.

Net position refers to the overall directional bet (long or short) after cancelling out opposite positions, while gross position represents the total exposure on both buying and selling sides combined.