Showing SYNTHETIC demo data — Dhan access token expired 01 Oct, 12:49 IST.
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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.
Premium traded
- Total call premium
- ₹292 Cr
- Total put premium
- ₹311 Cr
- Put/Call premium ratio
- 1.07
- Call/Put premium ratio
- 0.94
- Net put premium
- ₹19 Cr
- Net call premium
- −₹19 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
- 896,269 / +61,005
- Put OI / ΔOI
- 969,959 / +95,629
- OI PCR
- 1.08
- Premium PCR
- 1.07
- Volume PCR
- 1.16
OI PCR 1.08 (neutral) and premium PCR 1.07 (neutral) do not contradict each other.
Max Pain & concentration
- Spot
- 59,823.91
- ATM strike
- 59800
- Max Pain
- 59900
- Spot vs Max Pain
- −76 (−0.13%)
- Potential support (put OI)
- 59000
- Potential resistance (call OI)
- 60200
IV & skew
- ATM IV
- 25.10
- ATM call / put IV
- 25.2 / 25.0
- 25Δ call IV
- 25.47
- 25Δ put IV
- 26.13
- Skew (put − call)
- 0.66
- Days to expiry
- 8
Skew changes over 1D/1W/1M: see the “NIFTY 25Δ IV skew” indicator on Factors & Data.
Premium by moneyness (±25 strikes, ATM = nearest ±1 strike)
| ITM | ATM | OTM | |
|---|---|---|---|
| Calls | ₹52 Cr | ₹63 Cr | ₹177 Cr |
| Puts | ₹78 Cr | ₹78 Cr | ₹155 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 | ₹239 Cr | ₹0 Cr |
| writing | ₹0 Cr | ₹311 Cr |
| short covering | ₹0 Cr | ₹0 Cr |
| long unwinding | ₹0 Cr | ₹0 Cr |
| no clear signal | ₹53 Cr | ₹0 Cr |
Premium pressure: calls ₹200 Cr, puts −₹279 Cr → net ₹479 Cr (+0.80 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 · BANKNIFTY 2026-10-27
| Strike ↑ | Call OI | Call ΔOI | Call prem ₹Cr | Call IV | Spot | Put IV | Put prem ₹Cr | Put ΔOI | Put OI |
|---|---|---|---|---|---|---|---|---|---|
| 57300 | 0 | +0 | 0.00 | 25.9 | 26.6 | 0.00 | +9 | 101 | |
| 57400 | 0 | +0 | 0.00 | 25.7 | 26.8 | 0.01 | +27 | 204 | |
| 57500 | 0 | +0 | 0.00 | 25.8 | 26.6 | 0.01 | +27 | 279 | |
| 57600 | 1 | +0 | 0.00 | 25.9 | 26.5 | 0.01 | +41 | 403 | |
| 57700 | 1 | +0 | 0.00 | 25.4 | 26.3 | 0.06 | +84 | 913 | |
| 57800 | 3 | +0 | 0.00 | 25.5 | 25.8 | 0.08 | +150 | 1,935 | |
| 57900 | 6 | +1 | 0.00 | 25.2 | 26.4 | 0.12 | +169 | 1,922 | |
| 58000 | 20 | +1 | 0.01 | 25.8 | 26.4 | 0.46 | +747 | 6,958 | |
| 58100 | 25 | +1 | 0.01 | 25.1 | 25.9 | 0.37 | +743 | 5,785 | |
| 58200 | 47 | +4 | 0.03 | 25.4 | 25.7 | 0.85 | +1,165 | 9,432 | |
| 58300 | 80 | +6 | 0.05 | 25.3 | 26.0 | 1.03 | +693 | 11,460 | |
| 58400 | 218 | +17 | 0.10 | 25.1 | 26.1 | 1.62 | +1,107 | 15,412 | |
| 58500 | 254 | +5 | 0.12 | 24.9 | 25.7 | 0.84 | +525 | 11,778 | |
| 58600 | 824 | +112 | 0.46 | 25.1 | 25.4 | 3.53 | +3,698 | 32,773 | |
| 58700 | 734 | +50 | 0.33 | 25.3 | 25.3 | 3.40 | +2,332 | 28,386 | |
| 58800 | 2,084 | +217 | 0.77 | 25.2 | 25.1 | 5.26 | +965 | 46,619 | |
| 58900 | 2,552 | +251 | 0.79 | 25.4 | 25.3 | 5.83 | +3,018 | 32,922 | |
| 59000 | 8,525 | -53 | 2.98 | 25.3 | 25.8 | 15.89 | +3,936 | 1,05,149 | |
| 59100 | 3,267 | +224 | 1.51 | 24.9 | 25.1 | 8.69 | +3,296 | 44,949 | |
| 59200 | 8,017 | +242 | 3.57 | 25.1 | 25.1 | 20.42 | +8,669 | 87,440 | |
| 59300 | 9,405 | +780 | 5.61 | 24.9 | 25.3 | 15.96 | +7,247 | 48,566 | |
| 59400 | 15,992 | +859 | 8.51 | 25.3 | 24.9 | 20.38 | +13,671 | 83,435 | |
| 59500 | 13,220 | +68 | 5.30 | 25.0 | 24.9 | 24.98 | +5,833 | 47,724 | |
| 59600 | 36,435 | +4,354 | 22.25 | 24.9 | 25.1 | 25.40 | +4,981 | 57,075 | |
| 59700 | 28,567 | +3,606 | 16.76 | 25.5 | 25.3 | 19.09 | +3,273 | 35,299 | |
| 59800 | 40,937 | +2,152 | 24.48 | 25.2 | ◆ 59,823.9 | 25.0 | 39.94 | +5,964 | 55,446 |
| 59900 | 37,862 | +237 | 21.55 | 25.0 | 25.7 | 19.14 | +4,140 | 37,161 | |
| 60000 | 77,399 | +14,634 | 30.31 | 25.2 | 25.2 | 32.99 | +8,813 | 67,058 | |
| 60100 | 46,454 | +3,668 | 20.21 | 25.2 | 25.2 | 9.38 | +2,709 | 21,709 | |
| 60200 | 83,915 | +7,578 | 27.84 | 25.0 | 25.2 | 12.87 | +2,824 | 22,602 | |
| 60300 | 46,994 | -110 | 19.84 | 25.2 | 25.5 | 6.07 | +1,647 | 13,426 | |
| 60400 | 68,512 | +3,803 | 21.67 | 24.9 | 25.3 | 6.27 | +906 | 12,508 | |
| 60500 | 37,968 | +4,304 | 10.02 | 25.3 | 25.3 | 3.16 | +641 | 6,725 | |
| 60600 | 76,284 | +5,301 | 13.74 | 25.2 | 25.2 | 2.64 | +393 | 6,503 | |
| 60700 | 43,862 | +1,178 | 7.68 | 25.3 | 25.1 | 1.03 | +446 | 2,820 | |
| 60800 | 48,847 | +2,224 | 7.96 | 25.4 | 25.3 | 1.15 | +320 | 2,977 | |
| 60900 | 27,358 | +184 | 2.95 | 25.1 | 25.7 | 0.65 | +161 | 1,434 | |
| 61000 | 55,121 | +1,506 | 7.46 | 25.1 | 25.4 | 0.79 | +156 | 1,526 | |
| 61100 | 18,582 | +848 | 1.83 | 25.3 | 25.7 | 0.25 | +35 | 465 | |
| 61200 | 20,007 | +270 | 2.34 | 25.5 | 25.1 | 0.20 | +42 | 385 | |
| 61300 | 9,556 | +904 | 0.80 | 25.0 | 25.8 | 0.06 | +7 | 142 | |
| 61400 | 10,857 | +733 | 0.92 | 25.1 | 25.8 | 0.03 | +11 | 79 | |
| 61500 | 4,319 | +552 | 0.28 | 25.5 | 26.0 | 0.01 | +3 | 30 | |
| 61600 | 4,409 | +110 | 0.39 | 25.6 | 25.9 | 0.01 | +3 | 26 | |
| 61700 | 2,029 | +37 | 0.14 | 25.8 | 25.8 | 0.00 | +1 | 9 | |
| 61800 | 2,234 | +39 | 0.13 | 25.4 | 26.3 | 0.00 | +1 | 6 | |
| 61900 | 751 | -21 | 0.04 | 25.5 | 26.1 | 0.00 | +0 | 1 | |
| 62000 | 1,188 | +96 | 0.06 | 26.0 | 26.3 | 0.00 | +0 | 2 | |
| 62100 | 179 | +12 | 0.01 | 25.5 | 26.7 | 0.00 | +0 | 0 | |
| 62200 | 266 | +13 | 0.01 | 25.6 | 26.7 | 0.00 | +0 | 0 | |
| 62300 | 102 | +8 | 0.00 | 26.0 | 26.7 | 0.00 | +0 | 0 |
Net premium pressure vs underlying
Expiry structure & positioning shift
| Expiry | Type | Days | OI | ΔOI | Premium | Prem. PCR | OI PCR | ATM IV | Skew | Max Pain | Support / resistance | Positioning |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-10-27 | current, monthly | 8 | 1,575,211 | +139,209 | ₹570 Cr | 1.08 | 1.14 | 25.1 | -0.2 | 59900 | 59000 / 60200 | 84 |
| 2026-11-24 | next | 36 | 1,040,497 | +64,745 | ₹515 Cr | 1.11 | 1.22 | 25.2 | — | 59900 | 59000 / 60000 | 89 |
| 2026-12-29 | far | 71 | 626,828 | +43,853 | ₹290 Cr | 0.93 | 1.24 | 25.1 | — | 59900 | 59000 / 60000–60200 | 90 |
Expiry positioning shift: Bullish-leaning positioning in the current expiry also appears in later expiries (near 84, later 89).
Positioning (0–100) blends OI PCR (conventional reading) with net premium pressure for each expiry, using ±10 strikes.