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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
Expiry10-27current/monthly11-24next12-29far
Strikes around ATM±5±10±15±25All
Source: SYNTHETIC · 2026-10-19 15:30 IST

Premium traded

Total call premium
₹258 Cr
Total put premium
₹286 Cr
Put/Call premium ratio
1.11
Call/Put premium ratio
0.90
Net put premium
₹27 Cr
Net call premium
−₹27 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
542,811 / +22,563
Put OI / ΔOI
640,786 / +52,475
OI PCR
1.18
Premium PCR
1.11
Volume PCR
1.37

OI PCR 1.18 (bullish) and premium PCR 1.11 (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)
60000
Largest call OI
60000: 58,153
60400: 52,411
60600: 48,517
Largest call OI adds
60600: +4,761
60200: +2,907
60400: +1,627
Largest put OI
59000: 70,965
59200: 56,454
59600: 52,586
Largest put OI adds
59400: +5,407
59500: +4,058
58800: +3,992

IV & skew

ATM IV
25.15
ATM call / put IV
25.0 / 25.3
25Δ call IV
—
25Δ put IV
25.07
Skew (put − call)
—
Days to expiry
36

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

Premium by moneyness (±15 strikes, ATM = nearest ±1 strike)

ITMATMOTM
Calls₹35 Cr₹74 Cr₹149 Cr
Puts₹65 Cr₹60 Cr₹160 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₹202 Cr₹0 Cr
writing₹0 Cr₹286 Cr
short covering₹0 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹56 Cr₹0 Cr

Premium pressure: calls ₹139 Cr, puts −₹240 Cr → net ₹379 Cr (+0.70 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 2026-11-24

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
5830060+50.0225.025.10.97+9225,194
58400135+80.0625.425.31.67+87314,005
58500140+80.0825.125.31.89+98311,795
58600542+160.3324.925.13.88+1,40417,804
58700640+30.2425.225.75.36+2,63719,135
588001,143+980.5324.925.59.80+3,99239,617
589001,398+550.5325.425.36.74+2,71820,571
590004,966+3672.0524.925.317.33+2,80170,965
591002,160+2771.3024.825.26.65+3,05030,672
592007,763+1004.1224.925.121.91+2,95456,454
593003,812+861.6524.825.310.74+2,39633,242
5940012,767+2687.9524.925.020.83+5,40747,725
595009,367+4796.0425.024.916.40+4,05837,035
5960014,738+1,47610.5124.925.136.17+3,04752,586
5970018,077+1,54617.9625.124.818.35+1,34834,581
5980033,580-13239.8025.0◆ 59,823.925.327.31+2,40729,054
5990024,484-4915.8324.825.014.58+2,27419,115
6000058,153+1,21429.6325.125.233.86+2,79038,466
6010021,649+97414.6325.524.95.98+75812,597
6020034,388+2,90714.6525.025.110.39+2,49718,493
6030029,513+88411.0724.825.13.74+7727,774
6040052,411+1,62722.0625.124.95.28+1,0409,311
6050034,211+8038.9524.925.02.11+2704,087
6060048,517+4,76112.6625.225.31.42+4364,286
6070017,139+6597.6124.925.20.85+2842,252
6080039,156+87314.2125.325.20.76+1732,222
6090013,702+1,0422.6525.025.20.24+50511
6100031,240+3986.2125.325.20.27+103747
6110011,098+1,0231.6124.825.40.08+7230
6120010,467+2962.1924.925.30.07+16167
613005,395+4911.2425.225.20.04+893
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
2026-10-27current, monthly81,575,211+139,209₹570 Cr1.081.1425.1-0.25990059000 / 6020084
2026-11-24next361,040,497+64,745₹515 Cr1.111.2225.2—5990059000 / 6000089
2026-12-29far71626,828+43,853₹290 Cr0.931.2425.1—5990059000 / 60000–6020090

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.