{"id":217371,"date":"2026-08-24T16:10:40","date_gmt":"2026-08-24T10:40:40","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=217371"},"modified":"2026-08-24T16:10:41","modified_gmt":"2026-08-24T10:40:41","slug":"calendar-spread-nifty-midcap-select","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/calendar-spread-nifty-midcap-select\/","title":{"rendered":"Calendar Spread Nifty Midcap Select: Setup, Payoff and Risk Guide"},"content":{"rendered":"
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Nifty Midcap Select level used in this article: Rs 13,850 (as of illustrative reference level; verify current level on NSE). Next monthly (last Tuesday of the month) expiry: 25 August 2026 (Tuesday). Lot size 120. Weekly options on Nifty Midcap Select were discontinued in November 2024 under SEBI’s one weekly index per exchange rule; only monthly contracts remain.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

The calendar spread Nifty Midcap Select involves selling a near month option on a specific strike and buying a longer dated option on the same strike, creating a time decay trade that may profit when Nifty Midcap Select stays close to the chosen strike through the near month expiry. With Nifty Midcap Select at Rs 13,850, the calendar spread Nifty Midcap Select is a net debit trade where the maximum profit is earned when the near month option expires near worthless and the far month option retains significant time value. Because Nifty Midcap Select only trades monthly contracts, both legs of the calendar spread Nifty Midcap Select use consecutive monthly expiries rather than a weekly and monthly combination.<\/p>\n<\/div>\n

The this strategy exploits the fact that options closer to expiry lose their time value faster than options further from expiry. By selling the faster decaying near month option and buying the slower decaying far month option on the same strike, the calendar spread Nifty Midcap Select is designed to capture the difference in decay rates when the index stays near the sold strike.<\/p>\n

Because Nifty Midcap Select has no weekly contracts, the near month leg of the the position itself typically runs for several weeks, which is longer than the near week leg used in a comparable Nifty 50 calendar spread. This changes both the premium dynamics and the monitoring cadence required.<\/p>\n

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