ATM Strike Worth Confusion: [Need Expert Help!]

I attended an examination the place this kind of query was askedHere’s the query:If the Nifty index is at the moment at 23203.10 and the futures worth is 23265.60, might you verify which strike worth must be thought-about the ATM strike( ATM choice)?

1. 23050
2. 23100
3. 23150
4. 23200

Might you additionally clarify the methodology or guidelines used to find out the ATM strike worth in such eventualities?

Thanks in your steering.

Possibility worth derived from index spot worth,

The place is the choice for 23250?Possibility follows future so ATM is 23250. Future merges with index on the time of expiry.

For Name, it’s 23200 CEFor Put, it’s 23250 PE