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June 14, 2026
The Dispatch

Definition

Weekly vs Monthly Expiry

Weekly options expire every week while monthly options expire on the last expiry day of the month, with different decay and liquidity.

Weekly options have a short life, so their theta decay is rapid and their premiums are smaller, making them popular for fast, short-term plays around the NSE weekly expiry. Monthly options live longer, carry more time value and vega, and suit positional or hedging trades.

Following SEBI's 2024 rationalisation, the number of weekly index expiries was reduced — broadly one weekly expiry per exchange — so traders should check the current calendar for which index has a weekly contract on which day. The choice between weekly and monthly depends on the time horizon, the role of decay, and the desired exposure to volatility.

Related terms

  • VegaVega measures how much an option's premium changes when implied volatility rises or falls by 1%.
  • Theta Decay (Time Decay)Theta decay is the daily loss in an option's value purely due to the passage of time, accelerating as expiry nears.

Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.