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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
₹170 Cr
Total put premium
₹198 Cr
Put/Call premium ratio
1.17
Call/Put premium ratio
0.86
Net put premium
₹29 Cr
Net call premium
−₹29 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
260,528 / +9,653
Put OI / ΔOI
330,668 / +27,754
OI PCR
1.27
Premium PCR
1.17
Volume PCR
1.45

POSITIONING DIVERGENCE: open interest reads bullish (OI PCR 1.27) while traded premium reads bearish (premium PCR 1.17). Positioning and fresh money flow point in different directions.

Max Pain & concentration

Spot
59,823.91
ATM strike
59800
Max Pain
59900
Spot vs Max Pain
−76 (−0.13%)
Potential support (put OI)
59300–59700
Potential resistance (call OI)
60000
Largest call OI
60000: 58,153
60200: 34,388
59800: 33,580
Largest call OI adds
60200: +2,907
59700: +1,546
59600: +1,476
Largest put OI
59600: 52,586
59400: 47,725
60000: 38,466
Largest put OI adds
59400: +5,407
59500: +4,058
59600: +3,047

IV & skew

ATM IV
25.15
ATM call / put IV
25.0 / 25.3
25Δ call IV
—
25Δ put IV
—
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 (±5 strikes, ATM = nearest ±1 strike)

ITMATMOTM
Calls₹26 Cr₹74 Cr₹70 Cr
Puts₹54 Cr₹60 Cr₹84 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₹114 Cr₹0 Cr
writing₹0 Cr₹198 Cr
short covering₹0 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹56 Cr₹0 Cr

Premium pressure: calls ₹84 Cr, puts −₹170 Cr → net ₹254 Cr (+0.69 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
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
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.