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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
₹260 Cr
Total put premium
₹236 Cr
Put/Call premium ratio
0.91
Call/Put premium ratio
1.10
Net put premium
−₹24 Cr
Net call premium
₹24 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
524,540 / +29,489
Put OI / ΔOI
616,903 / +56,772
OI PCR
1.18
Premium PCR
0.91
Volume PCR
1.12

OI PCR 1.18 (bullish) and premium PCR 0.91 (neutral) do not contradict each other.

Max Pain & concentration

Spot
27,917.82
ATM strike
27900
Max Pain
27950
Spot vs Max Pain
−32 (−0.12%)
Potential support (put OI)
27500
Potential resistance (call OI)
28000
Largest call OI
28000: 63,773
28200: 54,255
28300: 41,629
Largest call OI adds
28000: +8,453
28100: +2,921
28200: +2,702
Largest put OI
27500: 66,787
27700: 55,456
27600: 49,173
Largest put OI adds
27500: +8,013
27700: +5,310
27600: +4,934

IV & skew

ATM IV
25.16
ATM call / put IV
25.1 / 25.2
25Δ call IV
—
25Δ put IV
25.29
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₹32 Cr₹45 Cr₹183 Cr
Puts₹47 Cr₹56 Cr₹133 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₹224 Cr₹0 Cr
writing₹0 Cr₹222 Cr
short covering₹14 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹22 Cr₹14 Cr

Premium pressure: calls ₹166 Cr, puts −₹188 Cr → net ₹355 Cr (+0.72 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 · FINNIFTY 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
2715061+30.0324.925.30.62+3584,412
27200131+110.0525.625.11.55+2,36712,439
27250112-40.0525.225.51.52+17811,020
27300488+450.2725.325.23.85+83822,528
27350364+100.1524.925.63.52+1,92416,862
274001,161+700.5125.025.13.80+3,13328,007
274501,299+1130.5925.224.93.69+64517,508
275003,859+1892.0325.225.016.75+8,01366,787
275503,056+3320.9725.125.46.81+3,34129,801
276005,566-1953.3425.225.419.81+4,93449,173
276505,430+9482.6525.225.011.42+2,92633,023
277009,919+5445.8125.125.418.12+5,31055,456
277507,626+2674.4724.924.915.43+4,70436,298
2780018,125-27610.9824.925.225.73+4,41243,668
2785015,133+1,14512.8525.125.017.10+2,87727,741
2790023,981+29714.3125.1◆ 27,917.825.224.90+1,44337,461
2795021,938+6917.6625.025.213.96+21624,633
2800063,773+8,45348.9224.825.218.95+2,87638,289
2805029,990+1,34318.2425.124.96.58+1,60912,301
2810035,366+2,92123.3025.225.07.46+1,83915,800
2815028,567+1,48613.8725.224.93.30+7668,480
2820054,255+2,70224.6525.025.35.94+92711,195
2825022,813+9745.2925.225.31.68+1504,039
2830041,629+1,64515.3625.225.60.89+2833,279
2835026,810+2,13011.0425.225.00.84+2752,151
2840023,148+1,2175.9125.425.20.46+1302,009
2845016,652-694.2525.225.20.34+147980
2850033,238+1,0616.9925.225.50.46+1021,010
2855012,844+7913.0025.325.60.09+22218
2860012,639+5921.6625.325.40.08+21241
286504,567+6750.8825.025.20.04+694
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, monthly81,573,491+133,478₹504 Cr1.161.2225.00.22795027600–27800 / 2800089
2026-11-24next36990,543+77,183₹466 Cr0.921.2325.2—2795027500 / 2800090
2026-12-29far71609,136+48,976₹256 Cr0.991.2725.1—2795027500 / 2800092

Expiry positioning shift: Bullish-leaning positioning in the current expiry also appears in later expiries (near 89, later 90).

Positioning (0–100) blends OI PCR (conventional reading) with net premium pressure for each expiry, using ±10 strikes.