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Option chain analysis

Open interest, premium traded, IV and likely positioning by strike. Buying/writing labels are probabilistic; OI concentrations are potential (not guaranteed) support/resistance; Max Pain is theoretical.

UnderlyingBANKNIFTY FINNIFTY NIFTY

Expiry10-20current 10-27next/monthly 11-03 11-10 11-24 12-29far

Strikes around ATM±5 ±10 ±15 ±25 All

Source: SYNTHETIC · 2026-10-19 15:30 IST

Premium by moneyness (±10 strikes, ATM = nearest ±1 strike)

	ITM	ATM	OTM
Calls	₹64 Cr	₹32 Cr	₹36 Cr
Puts	₹46 Cr	₹36 Cr	₹46 Cr

Limiting the window to strikes near ATM stops far out-of-the-money contracts from distorting the read.

Likely buying vs writing (premium, ₹ Cr)

Evidence suggests / likely	Calls	Puts
fresh buying	₹110 Cr	₹0 Cr
writing	₹0 Cr	₹128 Cr
short covering	₹15 Cr	₹0 Cr
long unwinding	₹0 Cr	₹0 Cr
no clear signal	₹7 Cr	₹0 Cr

Premium pressure: calls ₹85 Cr, puts −₹117 Cr → net ₹202 Cr (+0.77 of premium, bullish +).

Price ↑ + OI ↑ → possible fresh buying · price ↓ + OI ↑ → possible writing · price ↑ + OI ↓ → possible short covering · price ↓ + OI ↓ → possible long unwinding. Volume and IV change adjust the strength of evidence. Trader intent is never certain.

Option chain · NIFTY 2026-10-20

Heatmap:Click a header to sort · underlined = largest in chain · hover a cell for the likely activity

Strike ↑	Call OI	Call ΔOI	Call prem ₹Cr	Call IV	Spot	Put IV	Put prem ₹Cr	Put ΔOI	Put OI
26100	3,311	+136	0.69	21.2		21.8	0.45	+6,454	78,040
26150	4,212	+457	1.07	21.4		21.7	0.93	+9,278	74,291
26200	10,042	+661	3.46	21.2		21.5	2.15	+11,601	1,42,328
26250	10,258	+464	2.67	20.9		21.2	1.50	+1,893	80,689
26300	16,893	+89	4.87	21.0		21.4	3.65	+15,733	1,15,899
26350	16,035	+383	3.36	20.9		21.1	3.24	+4,543	76,813
26400	43,863	+1,287	13.13	20.7		21.0	5.86	+10,735	1,15,746
26450	36,696	+2,827	9.20	20.9		21.1	6.98	+7,446	83,701
26500	1,01,222	+17,228	25.40	20.5		21.2	21.59	+22,699	1,65,750
26550	30,076	+1,620	6.18	21.2		20.7	7.09	+6,117	46,968
26600	85,519	-2,801	14.85	20.5	◆ 26,588.4	20.8	18.51	+10,978	99,926
26650	68,545	+3,996	10.87	20.7		20.9	10.15	+5,228	44,758
26700	1,26,725	+2,557	15.66	20.7		20.7	14.50	+8,737	60,358
26750	89,436	+9,530	5.02	21.1		21.0	2.99	+3,529	26,840
26800	1,18,922	+12,042	5.54	20.7		21.0	5.86	+879	25,915
26850	75,524	+187	2.23	20.5		20.7	6.78	+2,379	18,782
26900	1,19,659	+7,395	3.24	20.9		21.3	6.55	+3,362	23,536
26950	78,953	+8,166	1.49	20.9		21.7	2.65	+634	8,975
27000	1,51,196	+14,350	2.04	21.0		21.7	4.71	+1,315	15,650
27050	44,999	+4,035	0.47	21.3		21.9	1.34	+652	5,341
27100	60,035	+6,504	0.45	21.1		22.2	0.98	+322	3,510

calls putsDarker = larger open interest on that side. ATM row outlined.

Expiry structure & positioning shift

Expiry	Type	Days	OI	ΔOI	Premium	Prem. PCR	OI PCR	ATM IV	Skew	Max Pain	Support / resistance	Positioning
2026-10-20	current	1	2,605,937	+225,627	₹260 Cr	0.97	1.02	20.6	0.3	26600	26500 / 27000	76
2026-10-27	next, monthly	8	1,624,666	+129,981	₹287 Cr	1.05	1.13	20.9	0.5	26600	26500 / 26700	83
2026-12-29	far	71	263,033	+19,804	₹26 Cr	0.77	0.96	20.9	—	26600	26300–26500 / 27000	72

Expiry positioning shift: Bullish-leaning positioning in the current expiry also appears in later expiries (near 76, later 82).

Positioning (0–100) blends OI PCR (conventional reading) with net premium pressure for each expiry, using ±10 strikes.

Option chain analysis

Premium traded

Open interest & PCR

Max Pain & concentration

IV & skew

Premium by moneyness (±10 strikes, ATM = nearest ±1 strike)

Likely buying vs writing (premium, ₹ Cr)

Option chain · NIFTY 2026-10-20

Net premium pressure vs underlying

Expiry structure & positioning shift