New Delhi, July 9 -- The stock market regulator may revise the weekly contract expiry schedule if its recent measures fail to cool the index options fever, a person aware of the matter said. Among the plans under consideration: Expiry every fortnight against the weekly system now, and only one expiry in a fortnight against twice a week now.

"Certain additional measures on position limits and changes in the calculation of open interest on index futures and options took effect this month," the person cited above said on the condition of anonymity. Position limit refers to exposure a participant can take in index derivatives, while open interest refers to an outstanding buy or sell position.

"Sebi will examine if the recent measures bring ...