Options Rollover Calculator

This options rollover calculator compares the cost or credit of closing an option and opening a replacement using premiums and quantity you enter. Positive Roll Cost means cash paid; negative means cash received. Additional Theta Days does not show extra days, and Breakeven Move does not solve a general option breakeven, the price where profit and loss balance. Its timing labels cannot establish whether a roll is suitable or profitable.

A rollover closes one trade and starts another

An option's expiry cannot be extended by editing the existing contract. A roll closes that position and opens another. Rolling out changes expiry; rolling up or down changes strike. The old gain or loss becomes realised when that position closes, even if the new transaction receives a credit.

A debit means money paid and a credit means money received. Neither tells you the eventual return. The new position still has its own premium, exercise terms and risk. See the rollover definition for the distinction.

Can options be rolled over in India?

Yes, in the sense of closing one option and opening another, and that is the only way. Some guides say options cannot be rolled over because, unlike futures, there is no single product that carries into the next month. Both statements describe the same thing. You place two orders: one to close the option you hold and one to open the new one. Your broker may offer the two orders in one ticket, but they are still two trades with two sets of charges.

Which expiries you can roll into depends on the index. In this site's expiry rules, Nifty has weekly expiries every Tuesday and monthly expiries on the last Tuesday. Bank Nifty, FinNifty and Midcap Nifty have monthly expiries only. Check the current NSE circular and your broker's chain for the dates, because a holiday can move an expiry.

Enter premiums per unit, then the contract quantity

For the Long setting, the closing quote is what the option can be sold for. For Short, it is what buying it back would cost, despite the form's sale-oriented help text. Bid means the available buying quote; ask means the selling quote. Check the relevant side for each transaction rather than assuming both trades occur at a midpoint between them.

The form has no call-or-put selector, underlying price, fee field or volatility input. It cannot evaluate all the economic consequences of a strike change. Check option premium units before entering a full-lot value into a per-unit field.

Roll up, roll down and roll out

The form above has no call or put selector and does not check which direction you are rolling. It simply takes the premium of the old position and the premium of the new one, so you can use it for any of these once you decide whether you are Long or Short. A credit does not mean the roll was good. A short call rolled out for a credit still carries risk in the new contract, and a long call rolled up for a credit has a different payoff than before.

Worked long-roll example

Use these fictional inputs: Current Strike 22,500; New Strike 22,550; Current Position Value ₹80; New Expiry Premium ₹150; Your Original Entry Cost ₹120; Current Days to Expiry 4; New Days to Expiry 16; Long; Lot Size 65; Number of Lots 1. The Nifty quantity is supported by NSE's October to December contract file checked on 16 October 2026. Prices and remaining days are example assumptions.

• Total quantity: 65 × 1 = 65 units.
• Per-unit roll debit: ₹150 − ₹80 = ₹70.
• Roll Cost: ₹70 × 65 = ₹4,550 paid.
• Roll Cost %: (150 − 80) ÷ 80 × 100 = 87.5%.

Closing the old long realises a loss of (₹120 − ₹80) × 65 = ₹2,600 before charges. The replacement purchase costs ₹150 × 65 = ₹9,750, while the old sale brings in ₹80 × 65 = ₹5,200. The difference is the ₹4,550 roll debit. That payment does not undo the realised loss.

For a cumulative cash record, the original premium plus roll debit is ₹120 + ₹70 = ₹190 per unit before costs. This is a separate accounting figure, not a displayed solved option breakeven. The old position and new position should retain their own entries in the journal.

Read the remaining cards cautiously

Additional Theta Days is mislabelled: the calculation subtracts premium divided by the square root of days for each contract. In the example it is 150 ÷ 4 − 80 ÷ 2 = −2.5. This is neither extra calendar days nor modelled theta, the estimated sensitivity to time passing.

Breakeven Move adds the per-unit roll cost to the strike increase: 70 + (22,550 − 22,500) = 120. Without the option type and relevant payoff, that arithmetic cannot solve a general option breakeven. A put and a call react differently to the same strike change.

Recommendation uses remaining-day thresholds. Worth Rolling uses the sign of the square-root proxy. These labels do not assess the chart, volatility, order book or your finances. They are not a reason to enter a trade. For expiry-specific risk, compare the separate calendar spread explanation.

When to roll before expiry

Traders usually think about rolling when expiry is close and they want to keep an idea alive, or want to move a strike. These are the points to weigh, and none of them says you should roll.

• Time decay. Time value of an option shrinks faster as expiry approaches. A longer-dated option decays more slowly but costs more.
• Expiry-day swings. Prices move sharply in the last session, so some traders choose to act earlier.
• Two sets of charges. Brokerage, exchange fees and GST are paid on both the closing and the opening trade.
• STT. Selling an option pays securities transaction tax (STT) of 0.15% of premium since 1 April 2026. The buyer pays 0.15% on the intrinsic value of an option that is exercised at expiry. Closing before expiry avoids the exercise charge but adds the sale charge.

Example (made up): closing a long option at ₹80 for 65 units brings in 80 × 65 = ₹5,200, and STT on that sale is 0.15% of ₹5,200, which is ₹7.80. If the same option were exercised at expiry with 100 points of intrinsic value, STT would be 0.15% of 100 × 65 = ₹6,500, which is ₹9.75. These are STT only. Other charges are extra. See securities transaction tax and the charges guide.

Short-roll sign and unusable inputs

Using the same fictional premiums with Short reverses the sign: −(150 − 80) × 65 = −₹4,550, meaning a credit received. The original short's realised result still depends on what was collected at entry and the buyback price. A credit is a cash flow, not booked profit on the replacement.

Some zero or blank entries silently become preset values. In particular, a zero current premium or zero remaining days does not represent a genuine worthless or expiring contract reliably. Use verified positive entries and independently check zero cases. The form also does not verify that the new expiry is actually later.

Futures rollover cost and rollover percentage

Many Indian searches for rollover mean futures. Futures do expire, so a trader who wants to stay in the position closes the near-month contract and opens the next-month contract. The rollover cost is the price gap between the two contracts, plus charges on both trades.

Example (made up): you are long near-month Nifty futures and sell them at 22,500. You buy next-month futures at 22,560. The gap, the rollover cost, is 60 points, or 60 × 65 = ₹3,900 for one lot of 65, before charges.

Rollover percentage is a market-wide figure: the share of open positions (open interest) that has moved into the next month, usually next-month open interest divided by the sum of near-month and next-month open interest. For example, 8 lakh in the next month and 2 lakh in the near month gives 8 ÷ (8 + 2) = 80%. Data sites calculate it slightly differently, so compare like with like. It describes positioning, not direction. For the definition, read the rollover entry.

Journal each leg of a roll

Record the close as one trade and the new position as another. Note why you rolled and what you expected. After a few months, your journal can show whether your rolls cost more in charges than they earned. The options trading journal page lists the fields to keep.

What the comparison leaves out

• Brokerage and transaction charges on closing and replacement trades.
• The price difference between the buy and sell quote, and partial executions.
• New margin requirements and changes while the roll is being placed.
• Option exercise, settlement and any physical-delivery obligations.
• A live quote feed, historical performance review or order execution.

Log the closing result separately from the replacement's entry and later exit. Repeated credits can coexist with a growing overall loss. Your record needs every closed trade and every payment, not just the latest rollover debit.

Sources

• Robinhood explanation of rolling positions; checked 16 October 2026.
• ASX rolling debit and credit; checked 16 October 2026.
• NSE quantity file; checked 16 October 2026.