From the conversation
“The rise in non-expiry day ADT of Sensex options is attributable to greater institutional participation. Institutions tend to hold positions from Monday through Thursday as opposed to retail traders whose trades are concentrated on the expiry day (Thursday).”
On the expiry-to-non-expiry ratio
A SEBI study of equity-derivatives profitability shows BSE expiry-to-non-expiry average daily premium turnover falling to 3.4 times by the end of FY26, from over 20 times before the November 2024 curbs. Non-expiry ADT in Sensex options rose from a thin base to ₹15,667 crore in the latest period. The desk read was participation, not just volume: institutions carry the book through the week; retail still bunches on Thursday.
The excerpt above is from Shai Coelho's remarks as published in Mint. The full piece is at Livemint. Market commentary is educational and observational; it is not investment advice or a trading recommendation.