What It Means
Weekly expiry refers to options contracts that expire every week, rather than only on the monthly cycle. NSE and BSE run weekly expiries on select index contracts, alongside the standard monthly contract that still expires once a month.
At the time of writing, NIFTY's weekly expiry falls on Tuesday and Sensex's on Thursday, a change from NIFTY's older Thursday expiry that took effect in September 2025. Exchanges revise expiry days periodically, so confirm the live schedule on the NSE or BSE circular before trading around it.
How It Works
A weekly contract behaves like any other option chain, but with far less time left until expiry than a monthly one. That means less time value baked into the premium, faster theta decay as the week runs out, and usually thinner liquidity the further out you go from the front week.
Warning
Assuming a weekly contract's premium will behave like a monthly one on the same strike. Weeklies lose time value far faster, especially in the last day or two before expiry, so the same move in the underlying can produce a very different result depending on which expiry you're in.
Related Terms
- Options Expiry — the general concept this specializes
- Theta — the Greek that measures this faster decay
- Open Interest (OI)