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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
₹164 Cr
Total put premium
₹150 Cr
Put/Call premium ratio
0.91
Call/Put premium ratio
1.10
Net put premium
−₹14 Cr
Net call premium
₹14 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
334,361 / +17,031
Put OI / ΔOI
401,497 / +38,653
OI PCR
1.20
Premium PCR
0.91
Volume PCR
1.23

OI PCR 1.20 (bullish) and premium PCR 0.91 (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)
60000–60200
Largest call OI
60200: 30,468
60600: 28,650
60000: 25,402
Largest call OI adds
61000: +1,879
60400: +1,812
60000: +1,790
Largest put OI
59000: 37,989
59200: 37,457
59400: 32,676
Largest put OI adds
59600: +4,613
59000: +3,978
59500: +3,461

IV & skew

ATM IV
25.10
ATM call / put IV
25.2 / 25.0
25Δ call IV
25.29
25Δ put IV
25.83
Skew (put − call)
0.54
Days to expiry
71

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

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

ITMATMOTM
Calls₹27 Cr₹36 Cr₹101 Cr
Puts₹31 Cr₹33 Cr₹86 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₹154 Cr₹0 Cr
writing₹0 Cr₹137 Cr
short covering₹6 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹4 Cr₹13 Cr

Premium pressure: calls ₹114 Cr, puts −₹111 Cr → net ₹225 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 · BANKNIFTY 2026-12-29

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
558000+00.0025.325.50.00+00
559000+00.0025.325.80.00+00
560000+00.0025.225.80.00+00
561000+00.0024.825.30.00+00
562000+00.0025.525.40.00+00
563000+00.0025.525.50.00+00
564000+00.0025.225.60.00+00
565000+00.0024.925.80.00+00
566000+-00.0025.425.60.00+00
567000+00.0025.225.40.00+00
568000+00.0025.125.40.00+01
569000+00.0025.025.20.00+-02
570000+00.0025.025.20.00+17
571000+00.0024.925.60.00+19
572000+00.0024.725.10.00+022
573000+00.0024.825.50.00+537
574000+00.0025.125.30.00+1385
575000+00.0025.425.80.00+10102
576000+00.0025.125.00.03+27299
577000+00.0025.325.50.04+19245
578001+00.0025.025.00.09+120880
579002+00.0025.225.10.09+9705
5800011+00.0025.125.30.42+3223,420
5810012+00.0024.825.10.31+2751,866
5820034+50.0125.425.20.56+2323,976
5830025+10.0025.025.40.57+4113,976
5840091+-00.0425.025.22.02+1,0428,363
58500131+80.0425.125.41.27+8616,046
58600224+180.0725.625.21.56+1,0959,982
58700277+150.1325.125.32.81+1,12912,858
58800812+370.4025.325.15.54+2,53122,755
58900833+1050.3225.025.24.68+1,67418,033
590003,297+1911.8425.024.910.40+3,97837,989
591001,746+770.9825.025.15.28+2,21115,871
592003,369+1111.0625.125.39.06+1,00037,457
593002,649+831.8225.024.96.38+2,95120,501
594007,911+5964.9225.025.013.23+2,57732,676
595007,641+4355.3724.625.27.92+3,46121,294
5960012,175+94810.3624.925.413.94+4,61329,629
5970010,559+1707.3025.425.58.17+1,77113,694
5980017,014+1,06815.2625.2◆ 59,823.925.016.36+1,27722,159
5990013,053+76612.9425.225.18.00+1,06414,385
6000025,402+1,79013.6525.125.012.55+11620,965
6010020,376+24410.4225.125.15.24+1,21010,884
6020030,468+1,01518.6825.125.15.21+7779,134
6030018,002+5416.2025.325.42.48+4625,632
6040025,398+1,81211.4224.925.12.38+6685,738
6050015,588-1,2776.4725.424.91.26+1152,774
6060028,650+1,58111.3624.624.80.81+2963,057
6070013,927-543.8025.125.00.30+771,204
6080020,981+7405.5325.325.10.43+451,146
609008,080+9271.8024.924.90.13+70531
6100017,045+1,8794.8624.925.30.25+94672
611006,264+1,0712.1725.125.00.06+20177
612008,125+7752.0524.925.10.04+11149
613004,231+3950.8825.125.50.01+542
614003,399+3900.6425.025.50.01+430
615002,059+2220.5324.825.40.00+117
616001,763+1380.4424.925.40.00+113
61700821+540.2325.025.10.00+03
61800713+610.1325.025.40.00+13
61900324+370.0725.225.60.00+01
62000609+260.1125.125.20.00+01
62100101+140.0225.125.30.00+00
6220093+120.0125.425.60.00+00
6230033+10.0125.325.20.00+00
6240016+20.0025.125.20.00+00
6250012+10.0025.625.30.00+00
626008+00.0024.725.50.00+00
627002+00.0025.025.40.00+00
628002+00.0024.925.60.00+00
629001+00.0025.525.60.00+00
630001+00.0025.125.30.00+00
631000+00.0025.425.40.00+00
632000+00.0025.025.30.00+00
633000+00.0025.325.30.00+00
634000+00.0025.025.40.00+00
635000+00.0025.225.60.00+00
636000+00.0025.325.60.00+00
637000+00.0025.025.90.00+00
638000+00.0025.325.90.00+00
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.