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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
₹140 Cr
Total put premium
₹147 Cr
Put/Call premium ratio
1.05
Call/Put premium ratio
0.95
Net put premium
₹7 Cr
Net call premium
−₹7 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
763,465 / +38,522
Put OI / ΔOI
861,201 / +91,459
OI PCR
1.13
Premium PCR
1.05
Volume PCR
1.18

OI PCR 1.13 (bullish) and premium PCR 1.05 (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
Largest call OI
26700: 79,074
27000: 74,978
26800: 69,050
Largest call OI adds
27100: +7,610
26800: +4,698
26700: +4,344
Largest put OI
26500: 123,703
26400: 72,298
26300: 68,527
Largest put OI adds
26500: +12,883
26400: +12,293
26300: +8,967

IV & skew

ATM IV
20.90
ATM call / put IV
20.7 / 21.1
25Δ call IV
20.73
25Δ put IV
21.27
Skew (put − call)
0.54
Days to expiry
8

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

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

ITMATMOTM
Calls₹41 Cr₹37 Cr₹61 Cr
Puts₹34 Cr₹36 Cr₹77 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₹112 Cr₹0 Cr
writing₹0 Cr₹147 Cr
short covering₹13 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹15 Cr₹0 Cr

Premium pressure: calls ₹88 Cr, puts −₹124 Cr → net ₹212 Cr (+0.74 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 2026-10-27

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
261002,390+1350.6320.821.33.98+6,36558,654
261503,286+2900.9120.921.62.91+5,98344,562
262005,713+8811.6820.521.34.58+5,72865,135
262505,870+6981.7020.721.03.64+8,20352,558
2630013,007+1,1963.7120.720.78.51+8,96768,527
2635012,894+1,4804.7621.021.16.01+5,85756,010
2640022,381+1196.8320.920.79.09+12,29372,298
2645022,274-1493.9820.620.97.51+4,33162,212
2650054,739+4,12917.0320.720.630.39+12,8831,23,703
2655028,862+1,0569.2620.720.99.82+3,92947,497
2660046,606+98418.7920.7◆ 26,588.421.116.50+2,91752,453
2665034,454+4,1199.2220.421.010.03+2,05032,102
2670079,074+4,34414.9520.720.99.22+3,50435,490
2675045,720-1,1357.8720.820.74.35+3,01223,309
2680069,050+4,69811.7620.920.98.44+59425,833
2685048,920+3,2697.5620.620.83.27+9989,785
2690058,921+2,0055.3520.721.04.34+1,46514,203
2695045,243+3653.7521.021.21.39+3574,919
2700074,978-1,1685.4620.921.21.75+1,3827,446
2705040,530+3,5962.3520.821.10.35+2252,239
2710048,553+7,6102.2420.721.30.78+4162,266
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.