NSE Crude Options Reach Record High, Account For 63% Of Daily Volume
Crude options emerge as a major NSE trading segment.
The National Stock Exchange (NSE) recorded its highest-ever trading activity in crude oil options on Thursday, achieving record premium turnover, trading volume and open interest. The milestone strengthened NSE’s position in India’s commodity derivatives market, with the exchange accounting for more than 63 per cent of the day’s total crude derivatives trading volume.
According to NSE, crude oil options recorded a premium turnover of Rs 2,006.49 crore and a traded volume of 47.34 lakh contracts during the session. The exchange also reported record intraday open interest of more than 1.14 lakh contracts, reflecting increased participation from traders and hedgers in the crude oil options segment.
The surge in activity helped NSE capture a 63.35 per cent share of the total crude derivatives volume traded across India’s two major commodity exchanges. NSE recorded 47.34 lakh contracts, while the Multi Commodity Exchange of India (MCX) accounted for 27.39 lakh contracts, representing 36.65 per cent of the daily trading volume.
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The record performance comes after NSE modified its crude oil options contract structure to improve flexibility for market participants. Effective November 2025, the exchange changed the options expiry schedule to seven business days before the expiry of the underlying futures contract, compared with the earlier timeline of two business days before expiry. NSE said the revised structure has supported continued growth in volumes, premium turnover and open interest.
The latest achievement surpassed NSE’s previous record set on the June 9 expiry day, when crude oil options recorded 28.65 lakh contracts with a premium turnover of Rs 1,239.1 crore. On the same day, NSE crude oil futures also reported a record turnover of Rs 378.32 crore, highlighting increasing activity in the exchange’s commodity offerings.
Despite NSE’s lead in daily trading volume, MCX continues to maintain a larger outstanding position base in crude derivatives. End-of-day open interest stood at 2,34,962 contracts on MCX compared with 54,166 contracts on NSE, indicating that longer-term hedging and carry positions remain more concentrated on the established commodity exchange.
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