The combined call and put premium makes the straddle
This is the live Sensex at-the-money straddle: the combined premium of the ATM Call and ATM Put at the same strike and expiry on the BSE options market, plotted through the trading session. Sensex options have grown into a genuinely liquid market of their own, and this chart tracks the premium in the same way as the NSE indices.
It updates live from 09:15 to 15:40 IST on trading days. Sensex options trade on a 100-point strike grid, so the ATM strike rolls in 100-point steps as spot moves.
Sensex is a 30-stock index and Nifty is a 50-stock index, and they track each other closely — the correlation between them is very high on any normal day. What differs is the options market underneath them: a different exchange, a different expiry calendar, a different lot size and a different set of participants.
That means the Sensex straddle premium is not simply a scaled version of the Nifty straddle. It is priced by its own order book. When the two indices are moving nearly identically but their straddles are not, you are looking at a difference in positioning or liquidity rather than a difference in the underlying market.
For traders who run both, the straddle chart is the fastest way to see which of the two options markets is currently pricing volatility more expensively for the same underlying move.
The line falls when theta decay dominates — a quiet session with nothing forcing a repricing. It rises when implied volatility expands, which on Sensex tends to track the same macro triggers as Nifty: policy decisions, inflation data, global risk events and heavyweight index-constituent results.
Sensex spot is overlaid so you can tell whether a premium move came from spot travelling or from volatility repricing independently. A straddle rising against a flat spot is the more informative of the two — it means the market is paying up for movement that has not happened yet.
Because the BSE expiry calendar differs from NSE's, the decay profile through the week does not line up with Nifty's. On a day that is expiry for one and not the other, the two straddle charts will behave very differently even though the underlying indices are moving together.
On Sensex expiry the ATM straddle is pure time value running to zero on a visible clock. The decay accelerates into the afternoon, with the final stretch before the close carrying a disproportionate share of it.
Gamma cuts the other way. Near expiry the ATM straddle is highly sensitive to spot, so a move through a strike level can reprice it sharply upward even while the overall trend for the day is decay. The chart shows the two forces competing in real time.
The 100-point grid means each ATM roll is a meaningful step. As spot crosses into a new band, the contract pair behind the line changes — the chart follows the live ATM rather than holding a fixed strike that has drifted away from the money.
Alongside the straddle premium the chart carries Sensex spot and the synthetic future implied by the ATM Call and Put, so you can see the options-implied forward next to the cash level.
A live ATM±5 option chain below the chart shows the CE and PE prices and open interest that make up the straddle. Straddle VWAP and adjustable EMA overlays are available as reference levels.
The expiry chips on the rail switch between available Sensex expiries, which is how you compare the near-term straddle against a later one.
Since 3 August 2026 BSE has ended the cash session with a Closing Auction Session. Continuous trading in the Sensex constituents stops at 3:15 PM, the continuous Sensex freezes with it, and BSE publishes an indicative Sensex — the level the auction would close at if it ended now — from about 3:15 PM until the official close prints, usually by 3:30 PM. Sensex options keep trading until 3:40 PM.
The chart splits itself at that point and draws the indicative Sensex second by second on a second pane, beside the straddle, so the premium can be read against the level that is actually moving rather than a spot that stopped. On Sensex expiry the settlement print comes out of that auction, which makes the last twenty-five minutes of an ATM straddle a bet on where the indicative settles rather than on where spot stopped.
Open the Sensex indicative price chart →It plots the combined live premium of the at-the-money Sensex Call and Put at the same strike and expiry on the BSE options market, through the trading session.
The underlying indices track each other closely, but Sensex options trade on a different exchange with their own expiry calendar, lot size and order book. The straddle premium is priced independently, so it is not a scaled copy of Nifty's.
A 100-point strike grid, so the at-the-money strike rolls in 100-point steps as spot moves.
Through the session, 09:15 to 15:40 IST, Monday to Friday on trading days.
Bankex is available on the main straddle chart via the symbol rail, along with the other indices and MCX commodities.
Sensex spot and the synthetic future implied by the ATM Call and Put, plus a live ATM±5 option chain with the CE and PE prices and open interest that make up the straddle. Straddle VWAP and adjustable EMA overlays are available, and the expiry chips switch between available Sensex expiries.