n NISM Certifications
VII NISM Series VII
Medium

If the last Thursday of the month is a holiday, the final expiry of Options contracts will occur on the ___________ day.

Practice question from NISM Series VII Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    First trading

  2. Previous trading

    Correct answer

  3. C

    Second trading

  4. D

    Last trading

Why this is the answer

Equity derivatives contracts normally expire on the last Thursday of each month. If that day is a holiday, expiry shifts to the previous trading day (Wednesday).

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