Overview

• SEBI warns that expiry-day index options and other ultra-short-term derivatives now dominate turnover, intensifying market volatility.
• Research shows 91% of individual futures and options traders lost money in FY25, tallying over ₹1 lakh crore in collective losses.
• The regulator is pushing to extend contract maturities to shift volumes into longer-tenure products and strengthen cash equity participation.
• Since October 2024, SEBI has raised margins, imposed position limits and introduced delta-based controls, and it recently barred Jane Street and impounded ₹4,843 crore.
• A 90,000-household survey will inform targeted investor outreach programmes aimed at improving risk awareness and fostering sustainable capital formation.