Bankex put sees a dramatic surge of 14,700% on expiry day

Bankex options saw a significant surge during Thursday's expiry session. This unusual spike occurred within minutes, causing considerable trader reaction. Indicative closing levels briefly showed a steeper Sensex decline than expected. Several Bankex put options experienced sharp premium jumps, impacting sellers. The Sensex and Bankex closed lower, while Nifty and Bank Nifty saw smaller declines.