Comment on STT Trap - Options Expiry - NSE BSE MCX-SX
If you short 115PE and market closes at 110.8, you will be required to pay Rs 4.2 to the exchange. Since you had received Rs 2 when shorting, your net loss will be Rs 2.2. Check the options module on Varsity: http://zerodha.com/varsity/module/option-theory/