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Watch Butterfly Prices on Expiry Day

To watch butterfly prices on expiry day, open the Butterfly sheet on the Sheets page with the current expiry selected: every 1:2:1 call and put butterfly on the chain is priced live from bid and ask. The Custom Butterfly sheet does the same for uneven ratios such as 1:3:2, and any cell can be marked, charted or given an alert.

ToolsButterfly prices, Custom butterfly, Working with cells, Alerts
InstrumentsNIFTY, BANKNIFTY, SENSEX, FINNIFTY, MIDCPNIFTY, BANKEX; current and next NIFTY and SENSEX expiries
When it updatesStreams live during market hours
Open itquintalmind.com/sheets

Steps​

  1. Sign in with your broker and open Sheets.
  2. Click NIFTY (or SENSEX) in the watchlist and pick the current expiry from its expiry buttons. The DTE column shows the days left to expiry.
  3. Find the butterfly tables. Use the arrows to move the strike window and the − and + buttons to change the range of wing widths.
  4. For uneven butterflies, open the CUSTOM BUTTERFLY section and pick 1:3:2, 1:4:3, 1:5:4 or 2:5:3 from the Ratio: buttons.
  5. Double-click the cells you want to follow to mark them. Marks are saved to your account.
  6. Click a cell to see its legs, Margin, Qty / 1 Cr and Charges (RT), then click Show Chart for its intraday price.
  7. Click Create Alert in the same popup to be notified when the price falls below or rises above a level.

What to look at​

  • Rows and columns. On the 1:2:1 sheet a row is the centre strike and a column is the wing width: Buy 1 at K − W, Sell 2 at K, Buy 1 at K + W. On the custom sheet the row strike is the first wing, not the centre.
  • Buy and sell values. Both come from the live bid and ask of every leg, not the last traded price. The gap between them shows the cost of crossing the spread.
  • Sign on the custom sheet. The Buy value is money received minus money paid, so a negative number is a net debit. The Sell value is money paid minus money received, so a negative number there is a net credit.
  • Show Chart. The chart shows Min, Live and Max for the chosen interval and lookback.
  • The smile behind the prices. Butterflies are priced from the implied volatility curve, so a change in the curve shows up in their prices. The vol surface shows that curve through the day.

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

FAQ​

Where can I watch Nifty butterfly prices live on expiry day?​

On the Quintal Mind Sheets page. Pick the current NIFTY expiry in the watchlist and the butterfly grid of centre strikes and wing widths updates live from bid and ask.

How can I keep an eye on a few butterfly cells?​

Double-click a cell to mark it with a highlight. Marks are saved to your account. You can also set an alert on the cell to be notified when its price crosses a level.

Can I see how a butterfly price moved during the day?​

Yes. Click the cell and choose Show Chart. It plots the net price of the legs from their 1-minute candles, with Min, Live and Max.

Quintal Mind shows market data and analytics for information only. Nothing here is investment advice, and Quintal Mind does not place orders.

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