Mumbai: The Securities and Exchange Board of India (Sebi) on Monday proposed a standardised framework for introducing and managing strike prices for options contracts across exchanges.The capital-markets regulator said the move seeks to address situations where there is significant intraday volatility, resulting in price movement beyond the farthest available strike price, leaving market participants inconvenienced because of unavailability of options contracts around prevailing price.At present, each exchange follows its own framework around introduction and management of strike intervals for options on various underlyings and futures contracts. The proposal seeks to bring predictability and availability of options strikes in case of heightened intraday volatility and ease of trading in the segment."Strike Intervals have bearing on trading activity of market participants in terms of availability of trading products for the participants," Sebi said in a discussion paper. "These products need to be loaded in the trading applications and portals of stock broker on a daily basis and thus, also has a bearing on the systems of stock brokers," it said.Sebi said, stock exchanges would have to put in place rules and formulations to ensure the availability of a minimum number of in-the-money and out-of-the-money options contracts around the prevailing market price.Exchanges would also have to undertake a daily review of strike prices to ensure trading continuity and remove contracts that are far away from the prevailing market price, it said.