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The first month of CAS has identified the next market structure question.

Shai Coelho writes in NDTV Profit on two Sensex expiry Thursdays, a thin auction settling a much larger derivatives book, and the specific gap SEBI is now reviewing.

4 September 2026 5 min read

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4 September 2026 Guest Column · NDTV Profit

The first month of CAS has identified the next market structure question.

Shai Coelho writes in NDTV Profit on two Sensex expiry Thursdays, a thin auction settling a much larger derivatives book, and the specific gap SEBI is now reviewing.

Closing AuctionWeekly OptionsMarket Structure

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4 September 2026 Media Quote · The Economic Times

Market chaos after CAS: what SEBI is reviewing, and whether it stops expiry-day swings

The Economic Times quotes Shai Coelho of Vtrender on SEBI's settlement-price review — why a methodology tweak may not calm expiry days if order cancellations stay allowed.

Closing AuctionWeekly OptionsMarket Structure

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4 September 2026 Media Quote · Mint

SEBI circular on CAS impact: Groww, Angel One, BSE shares jump up to 8%

Mint quotes Shai Coelho of Vtrender after SEBI said it would review CAS settlement prices — why the IEP is a projection, not a transaction, while derivatives keep trading.

Closing AuctionMarket Structure

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28 August 2026 Media Quote · Mint

Bankex put option zooms as liquidity thins in BSE's CAS

Mint quotes Shai Coelho of Vtrender on why thin Closing Auction Session liquidity let a 3% band order fill — and why that print is far less likely in continuous trade.

Closing AuctionWeekly OptionsMarket Structure

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27 August 2026 Media Quote · Mint

Sensex weekly options gaining traction on non-expiry days: Sebi study

Mint quotes Shai Coelho of Vtrender on why Sensex options volume has shifted off Thursday — institutions holding Monday through Thursday, versus retail concentrated on expiry.

Weekly OptionsMarket Structure

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26 August 2026 Media Quote · Mint

Did fat finger error plunge Nifty 271pts at closing auction?

Mint reports the 271-point Nifty drop in the first 30 seconds of CAS — a 3% band trade in Bharti Airtel, and what thin closing-auction liquidity can do to the index.

Closing AuctionMarket Structure

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20 August 2026 Interview · NDTV Profit

CAS turnover on settlement days is a market-structure question.

Shai Coelho of Vtrender speaks to NDTV Profit on why closing-auction activity matters more on expiry — cash orders, derivatives payoff, and what the Copthall–Mansi episode actually shows.

Closing AuctionWeekly OptionsMarket Structure

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14 August 2026 Interview · CNBC-Awaaz

CAS changed the derivatives day. Ten days of data already show it.

Shai Coelho of Vtrender joins a CNBC-Awaaz panel on the Closing Auction Session — why a cash-market close is reshaping 0DTE expiry, decision time, and participation on NSE and BSE.

Closing AuctionWeekly OptionsMarket Structure

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1 August 2026 Interview · Mint

AI will be useful in trading, but it can't replace judgment

Shai Coelho of Vtrender speaks to Mint about Indian market structure, weekly options, noise versus information, and where AI fits on a trading desk.

AIMarket StructureWeekly Options

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From the desk

Articles and working notes

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Closing Auction

Closing Auction Session: the cash close is only part of the change

First observations on NSE CAS, expiry settlement, and why a cash-market close is also a derivatives-structure event.

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General information

CAS briefings

Background notes circulated to news desks on the Closing Auction Session. These are general information — not a bylined column, and not attributed to any individual.

PDF

Closing Auction Session: a briefing note

Background on how CAS works, what changed at the Indian cash close, and what to watch in the early sessions. Circulated as general information for news desks.

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PDF

CAS through a 0DTE lens

How a closing-auction window meets same-day expiry: settlement, volatility, and the last 15 minutes of the derivatives day. General information, not a bylined column.

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PDF

Cash vs derivatives turnover, FY22–FY26

How cash and derivatives turnover have moved across five financial years — context for why a short cash auction now sits over a much larger derivatives book. General information for news desks.

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Article

The cash close is only part of the change

The Vtrender desk note on NSE CAS methodology, first-week observations, expiry settlement and 0DTE behaviour.

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About Shai

Shai Coelho

Founder of Vtrender and author of Power Trading with MarketProfile and Orderflow. Shai has applied MarketProfile and Orderflow to Indian markets since 2009. Commentary in Mint, NDTV Profit, The Economic Times and CNBC-Awaaz.

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Latest coverage

Articles and working notes

What weekly options did to the Indian trading day

CAS briefings

Closing Auction Session: a briefing note

CAS through a 0DTE lens

Cash vs derivatives turnover, FY22–FY26

The cash close is only part of the change

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Shai Coelho

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