New Delhi, Feb. 20 -- In the options market, the expiry day session is quite exciting. It offers rapid price movements, sharp premium fluctuations, and opportunities to generate quick returns. But along with this opportunity comes risk.

On the expiry day, due to time decay, option premiums react sharply to small index movements. Understanding the behaviour of the expiry options and how they work is very important. Here, we will help you with the strategies that you can use for intraday options trading on expiry day.

Depending on the instrument, options contracts can be valid for either a week or a month. The time value (theta) rapidly drops as the expiration date draws near.

Key characteristics of expiry day:

You will observe large sw...