MCX Options Arbitrage

The Options Arbitrage view compares the option prices of an MCX main contract and its mini contract at the same strike, live. It covers Gold vs GoldM and Silver vs SilverM, plus a Big Little section for Crude vs CrudeM and Natural Gas vs NatGasMini.

Shows	Price difference between main and mini contract options, per strike, for calls (CE) and puts (PE)
Layout	One CE table and one PE table per pair
Pricing	Live bid and ask of both options
Instruments	GOLD vs GOLDM, SILVER vs SILVERM, CRUDEOIL vs CRUDEOILM, NATURALGAS vs NATGASMINI
Updates	Streams live during MCX market hours
Open it	quintalmind.com/sheets → Commodities → Options Arbitrage

The main vs mini idea

MCX lists several commodities in two sizes. GOLD and GOLDM are both gold, SILVER and SILVERM are both silver, and so on. The mini contract is smaller, but both are quoted on the same price basis, so the premium of a GOLD option and a GOLDM option at the same strike can be compared directly.

The two trade in separate order books, so their prices are not always equal. This view shows that difference for every strike, using the price you would actually get on each side. It shows the gap only; charges and margin still apply.

The main and mini option expiries do not always fall on the same day. The view pairs the two expiries from the same contract cycle.

What a cell means

For row strike S, on the CE table or the PE table:

• Buy = main option bid at S − mini option ask at S. This is selling the main option and buying the mini option.
• Sell = mini option bid at S − main option ask at S. This is buying the main option and selling the mini option.

A positive value means the two legs together bring in a credit. In each column the three highest positive values are highlighted. Cells with no quote show "---".

Options to Options Arbitrage (Gold, Silver)

Tables for Gold vs Goldm and Silver vs Silverm, CE and PE, showing ATM ± 10 strikes. Each table also has:

• Exp: estimated round-trip charges for that row, in points, from the charges rate in your profile or a default rate.
• A view-gap switch to show every strike or only every fifth strike.
• An offset control (− / +) that pairs the main option at S with the mini option at S + offset, up to 5 steps either way.
• A small figure showing the mini future price minus the main future price.

Big Little (Crude, Natural Gas)

Tables for Crude vs Crudem and Natgas vs Natgasm, CE and PE. The call tables show ATM − 5 to ATM + 10 strikes and the put tables ATM − 10 to ATM + 5.

How to use it

1. Sign in with your broker and open Sheets, then switch the left panel to Commodities.
2. Click Options Arbitrage below the commodity list.
3. Use the ↑ and ↓ buttons in the section header to move the strike window.
4. Click a cell to see both legs, the live value, Charges (RT), the margin with the main-to-mini lot ratio it uses, Create Alert and Show Chart for an intraday chart of the spread.
5. Double-click a cell to mark it.

Broker basket

If you signed in with Zerodha, Alice Blue or FYERS, the popup also shows Buy and Sell buttons that open the legs as a basket on your broker's own page. Quintal Mind does not place the order.

Related

• MCX futures calendar shows the same main vs mini comparison for futures.
• MCX option sheets price butterfly, ratio and pulse spreads on each commodity.

FAQ

Where can I compare Gold and GoldM option prices live?

On the Quintal Mind Sheets page. Switch to Commodities and click Options Arbitrage. The Gold vs Goldm tables show, for every strike, the live price difference between the GOLD option and the GOLDM option.

What is Big Little on MCX?

Big Little is the section of the Options Arbitrage view that compares CRUDEOIL options with CRUDEOILM options, and NATURALGAS options with NATGASMINI options, strike by strike.

How is the options arbitrage buy value calculated?

Buy is the main contract option bid minus the mini contract option ask at the same strike, which is selling the main option and buying the mini option. Sell is the mini bid minus the main ask.