Using Strike Fx in the position builder (ATM, ATM SPOT, OTM steps)

Use the Strike Fx field in the position builder to choose a strike with a formula.

Example: 5 strikes OTM on NIFTY 50

The ATM keyword picks the at-the-money strike based on the futures price.

To go 5 strikes OTM, set the offset to 5 steps in the Fx builder:

ATM vs ATM SPOT

• ATM uses the futures price.
• ATM SPOT uses the spot index price. Its offset is a number of strike steps: 0 is the true ATM, 1 is one strike away.

Using the wrong one is a common reason for an unexpected strike.

Other options

• Offset in steps or in points give the same strike: ATM(NIFTY 50, 6) (6 steps) equals ATM(NIFTY 50, 0) + Number(300) when NIFTY strikes are 50 apart.
• Get Strike returns the nearest valid strike for any price, e.g. a percentage away from the futures price.

Strike gaps can change, so check the live option chain before relying on a fixed number.

Edited with AI from the original Tradetron article, checked against current docs (Oct 2026). Spot something wrong? Tell us in the Community.