NSE has announced new longer term Nifty options, starting March 3.
Apart from the current structure (Current Month, Next Month and Far Month) there will be options maturing every Quarter (March, June, September, December). The next three quarters will be covered.
Add to this half yearlies (Jun, Dec) for the next five semis.
Nothing else is different really – lot size, ranges etc. are the same. For the quarterlies, strike prices are 8-1-8 instead of the 6-1-6 of other options. (8 strikes out of the money, 1 at the money, and 8 strikes in the money).
There has been low liquidity in the far month, even with Nifty options. But with more players coming in, there should be a lot more in this field going forward.