• The Securities and Exchange Board of India (SEBI) has introduced a revamped framework for overseeing intraday trading in index options.
• Starting 1 October 2025, net intraday positions (after offsetting longs and shorts) on a futures-equivalent (FutEq) basis will be capped at ₹5,000 crore per entity, up from ₹1,500 crore.
• Gross intraday limits will remain at ₹10,000 crore. Stock exchanges must now conduct at least four random snapshots of traders' positions during market hours, including one between 2:45 PM and 3:30 PM.
• Penalties for expiry-day breaches come into effect 6 December 2025, and Standard Operating Procedures (SOPs) must be shared with SEBI and market participants within 15 days.