Trading members are requested to refer to Exchange notice number 20230309-29 dated Mar 09,2023 regarding Adjustment of Futures and Options contract of Astral Ltd on account of Bonus issue.
In partial modification to aforesaid notice, the Exchange shall make the following adjustments for all the available Futures & Options contracts on the underlying scrip Astral Ltd. (Derivatives Asset Code – ASTR) on end of day on March 13, 2023 the ‘ex-date’ being March 14, 2023.
A) Adjustment Factor:
If the ratio of Bonus is say A:B, the adjustment factor is defined as (A+B)/B. Therefore, the adjustment factor for Bonus in this case would be (1+3)/3 = 1.333333
Therefore, based on the above, the final adjustment factor for the scrip Astral Ltd. would be 1.333333.
B) Adjustments for Futures & Options Contracts:
1. Strike Price: The adjusted strike price shall be arrived at by dividing the old strike price by the adjustment factor (1.333333).
2. Market Lot: The adjusted market lot shall be arrived at by multiplying the old market lot by the adjustment factor (1.333333).
The revised market lot would therefore be as under:
Existing Market lot - 275; Adjustment factor – 1.333333
Revised market lot after multiplying existing market lot by adjustment factor -
367 (275 *1.333333)
3. Position: The adjusted position shall be arrived at by multiplying the old position by the adjustment factor.
4. Futures price: The adjusted futures price shall be arrived by dividing the old futures price by the adjustment factor (1.333333). The adjusted futures price shall be rounded off to the nearest tick size.
For any further clarifications, Trading members are requested to contact their designated Relationship Managers.
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For & on behalf of BSE Ltd,
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Ketan Jantre
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Sandeep Pujari
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Sr.GM – Trading Operations
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DGM – Trading Operations
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