Narayan78,
If you had purchased a 3500 nifty apr call when the nifty was at 3480 at 30 on 17 apr and sold it for 60 on 18 Apr that would be a square off. You make 60 - 30 = 30
Nifty options being european cant be exercised early and would automatically get excercised on expiry in case you do not square off before that. If the Nifty ends at 3600 on expiry day you make 3500 - 3600 = 100
Expiry is on the last thursday of every month.
If you had purchased a 3500 nifty apr call when the nifty was at 3480 at 30 on 17 apr and sold it for 60 on 18 Apr that would be a square off. You make 60 - 30 = 30
Nifty options being european cant be exercised early and would automatically get excercised on expiry in case you do not square off before that. If the Nifty ends at 3600 on expiry day you make 3500 - 3600 = 100
Expiry is on the last thursday of every month.