Zerodha co-founder and CEO Nithin Kamath regularly shares his candid and often humorous take on market trends. Recently, he took to X to share a humorous "obituary" for the Bank Nifty Weekly contracts. He shared a picture of the mock obituary created by one of his old trader friends. It announced the "passing" of Bank Nifty Weekly, which was "survived by her mother, NSE," along with sibling contracts like Bank Nifty Monthly and Nifty 50 weekly. The post hilariously also mentioned its passing after a "brief struggle with regulation", along with its life span from May 27, 2016, to November 13, 2024.
"We regret to inform you that Bank Nifty Weekly expired (for the final time) this Wednesday, after a brief struggle with regulation. In her short life, she saw many ups and downs. She was wild and mysterious, leaving us speculating about her every move. We are forever enriched by her presence (7% of us, that is; 93% of traders make losses from F&O trading). Wednesdays will never be the same without her," the mock obituary read.
It also included two quotes, one by Helen Keller, stating, "What we have once enjoyed we can never lose". Another quote from an anonymous trader read, "I don't know, man, I lost a lot of money."
Take a look below:
Mr Kamath shared the post on Wednesday. Since then it has accumulated more than 117,000 views and several comments.
Reacting to the post, one user wrote, "Goodbye, #Banknifty (2016-2024). You've been a wild ride, full of lessons and memories. It's hard to imagine trading without you, but your impact will always stay with us."
"Farewell, #BankNiftyOptions! Wednesdays just lost their spice. You may be gone, but the memories (and the losses) will live on forever in our trading accounts!" expressed another.
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"Dear Bank Nifty Weekly, You've been our rollercoaster ride, our adrenaline rush, and the heart attack we never asked for but secretly enjoyed. As you bid us adieu, may your strikes rest in peace and your premiums always be in our favour in the afterlife," commented a third user.
"You will be missed Bank Nifty. I hope to have better liquidity in stock futures in your absence. Au revoir!" added a fourth. "From 'Zero to Hero' trades to spooky ghost spikes, Wednesdays will never be the same without Bank Nifty. Gone but never forgotten," wrote one user.
India's largest options contract Nifty Bank saw its last weekly expiry on Wednesday due to new regulations from the Securities and Exchange Board of India (SEBI). In its circular, SEBI announced the end of weekly index option contracts in 3 indices including Nifty Bank.
