MWPL

MWPL stands for Maximum Writable Position Limit (or sometimes Maximum Allowable Position Limit), a regulatory cap set by NSE/BSE on open positions in futures and options to prevent excessive speculation and systemic risk in Indian markets. It limits retail traders like you to predefined lot sizes per strike/expiry, calculated as a multiple of open interest or fixed percentages of total contracts 

Key Features

Daily MWPL resets at market open, with intraday breaches triggering auto square-off by brokers like Zerodha starting from the far end of positions. For Nifty weekly options, limits often hit 10,000-50,000 lots per strike depending on OI buildup, forcing early exits during volatility spikes