Comment on STT Trap - Options Expiry - NSE BSE MCX-SX

Hi, just wondering, what is the time taken for settlement of OTM options that expire worthless, are they settled same day by NSE ? Are there any extra charges incurred by us if we leave the shorted options to expire worthless ?

Also, on expiry day,i see lakhs of orders to buy significantly OTM options at 0.05 or 0.10 Rupee, can you throw some light on as to who is buying those options, what is the reason for it ?

Thanks,
Shrikant

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