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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.

UnderlyingBANKNIFTYFINNIFTYNIFTY
Expiry10-20current10-27next/monthly11-0311-1011-2412-29far
Strikes around ATM±5±10±15±25All
Source: SYNTHETIC · 2026-10-19 15:30 IST

Premium traded

Total call premium
₹111 Cr
Total put premium
₹104 Cr
Put/Call premium ratio
0.93
Call/Put premium ratio
1.08
Net put premium
−₹8 Cr
Net call premium
₹8 Cr

Premium = LTP × volume × lot size. More put premium is not automatically bullish or bearish — read with price, OI change and IV.

Open interest & PCR

Call OI / ΔOI
792,563 / +48,856
Put OI / ΔOI
765,557 / +83,270
OI PCR
0.97
Premium PCR
0.93
Volume PCR
0.98

OI PCR 0.97 (neutral) and premium PCR 0.93 (neutral) do not contradict each other.

Max Pain & concentration

Spot
26,588.40
ATM strike
26600
Max Pain
26600
Spot vs Max Pain
−12 (−0.04%)
Potential support (put OI)
26500
Potential resistance (call OI)
26700–26800
Largest call OI
26700: 126,725
26800: 118,922
26500: 101,222
Largest call OI adds
26500: +17,228
26800: +12,042
26750: +9,530
Largest put OI
26500: 165,750
26400: 115,746
26600: 99,926
Largest put OI adds
26500: +22,699
26600: +10,978
26400: +10,735

IV & skew

ATM IV
20.63
ATM call / put IV
20.5 / 20.8
25Δ call IV
20.74
25Δ put IV
21.02
Skew (put − call)
0.28
Days to expiry
1

Skew changes over 1D/1W/1M: see the “NIFTY 25Δ IV skew” indicator on Factors & Data.

Premium by moneyness (±5 strikes, ATM = nearest ±1 strike)

ITMATMOTM
Calls₹51 Cr₹32 Cr₹28 Cr
Puts₹30 Cr₹36 Cr₹38 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 / likelyCallsPuts
fresh buying₹94 Cr₹0 Cr
writing₹0 Cr₹104 Cr
short covering₹15 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹2 Cr₹0 Cr

Premium pressure: calls ₹73 Cr, puts −₹95 Cr → net ₹168 Cr (+0.78 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 OICall ΔOICall prem ₹CrCall IVSpotPut IVPut prem ₹CrPut ΔOIPut OI
2635016,035+3833.3620.921.13.24+4,54376,813
2640043,863+1,28713.1320.721.05.86+10,7351,15,746
2645036,696+2,8279.2020.921.16.98+7,44683,701
265001,01,222+17,22825.4020.521.221.59+22,6991,65,750
2655030,076+1,6206.1821.220.77.09+6,11746,968
2660085,519-2,80114.8520.5◆ 26,588.420.818.51+10,97899,926
2665068,545+3,99610.8720.720.910.15+5,22844,758
267001,26,725+2,55715.6620.720.714.50+8,73760,358
2675089,436+9,5305.0221.121.02.99+3,52926,840
268001,18,922+12,0425.5420.721.05.86+87925,915
2685075,524+1872.2320.520.76.78+2,37918,782
calls putsDarker = larger open interest on that side. ATM row outlined.

Net premium pressure vs underlying

Expiry structure & positioning shift

ExpiryTypeDaysOIΔOIPremiumPrem. PCROI PCRATM IVSkewMax PainSupport / resistancePositioning
2026-10-20current12,605,937+225,627₹260 Cr0.971.0220.60.32660026500 / 2700076
2026-10-27next, monthly81,624,666+129,981₹287 Cr1.051.1320.90.52660026500 / 2670083
2026-12-29far71263,033+19,804₹26 Cr0.770.9620.9—2660026300–26500 / 2700072

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.