March 20, 2026 - March 22, 2026, the price of the 35°C option crashed from 16.5c to 2.6c. The reason is that confirmed heavy rainfall in Lucknow eliminated the possibility of a short-term heatwave (35°C+), forcing the market to correct its bets on high temperatures.
March 20, 2026 - March 22, 2026, the price of the 32°C option surged from 17c to 43c. The reason is that as the rain-induced cooling became factual, meteorological models downgraded the expected high from the mid-30s to the 31-32°C range, causing capital to consolidate on this option.