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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
₹140 Cr
Total put premium
₹134 Cr
Put/Call premium ratio
0.96
Call/Put premium ratio
1.04
Net put premium
−₹6 Cr
Net call premium
₹6 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
325,760 / +19,838
Put OI / ΔOI
396,325 / +39,272
OI PCR
1.22
Premium PCR
0.96
Volume PCR
1.28

OI PCR 1.22 (bullish) and premium PCR 0.96 (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: 34,786
28100: 28,925
28300: 28,481
Largest call OI adds
28150: +2,455
28000: +2,200
28200: +1,936
Largest put OI
27500: 36,354
27700: 33,975
27800: 32,599
Largest put OI adds
27500: +5,247
28000: +3,758
27600: +3,717

IV & skew

ATM IV
25.14
ATM call / put IV
25.1 / 25.2
25Δ call IV
25.07
25Δ put IV
25.54
Skew (put − call)
0.47
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₹20 Cr₹24 Cr₹97 Cr
Puts₹30 Cr₹28 Cr₹76 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₹127 Cr₹0 Cr
writing₹0 Cr₹122 Cr
short covering₹11 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹1 Cr₹12 Cr

Premium pressure: calls ₹96 Cr, puts −₹101 Cr → net ₹197 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 2026-12-29

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
264000+00.0025.125.50.00+02
264500+00.0025.325.60.00+01
265000+00.0025.225.80.00+09
265500+00.0025.425.30.00+17
266000+00.0025.225.60.00+124
266500+00.0025.125.60.00+529
267000+00.0025.225.00.00+1468
267500+00.0025.225.40.01+791
268000+00.0025.325.20.03+50318
268500+00.0025.225.10.04+22282
269001+00.0024.925.20.09+92773
269503+00.0025.025.20.10+98965
2700011+00.0025.225.60.28+2342,265
270508+00.0025.025.30.24+3601,674
2710021+10.0125.025.30.49+3513,762
2715034+30.0125.125.30.37+2822,589
2720071+100.0225.025.20.76+6177,394
27250111+40.0225.225.60.70+1,4897,739
27300252+80.1025.425.61.86+1,29415,419
27350317+20.1225.325.01.54+1,64310,697
27400721+180.3425.025.43.54+1,90216,232
27450659+240.3425.425.23.13+1,79615,860
275002,245+2030.6624.925.27.10+5,24736,354
275501,750+1710.9324.925.05.01+1,27221,048
276002,868+1731.3225.325.39.89+3,71726,888
276502,961+2231.5024.925.25.12+74520,266
277008,225+4144.8825.125.212.05+2,66533,975
277506,360+1303.7425.025.212.10+3719,492
2780010,425+1,3175.8825.125.411.81+1,99732,599
2785011,442+8057.1625.125.110.47+1,91217,727
2790014,829-27411.3525.1◆ 27,917.825.28.77+2,91519,110
279507,981+4795.0825.524.98.42+1,20114,375
2800034,786+2,20021.9125.125.215.87+3,75828,712
2805017,909+6079.1325.425.15.17+1,5619,653
2810028,925+1,34614.0225.425.43.04+4399,884
2815018,665+2,4555.6825.025.21.17+4235,134
2820021,283+1,9369.9525.025.52.45+4735,179
2825016,216+2516.0325.025.20.55+1823,095
2830028,481+1,03210.3224.825.20.89+1772,497
2835013,563+1,3163.5125.125.20.24+971,165
2840018,276+1,5594.9125.025.50.45+751,321
284508,357+2182.2025.124.90.09+2557
2850017,991+1,1013.8225.325.40.21+61637
285507,363+7051.4325.125.30.05+15163
286007,975+771.2124.925.10.05+26162
286504,408+4630.9125.025.10.01+957
287003,564+3260.6125.325.10.01+642
287501,811+1630.3625.125.00.01+116
288002,049+1940.3125.025.00.00+19
28850936+1020.1525.025.40.00+04
28900825+490.0925.425.30.00+02
28950346+70.0525.025.40.00+01
29000417+20.0825.325.50.00+01
29050108+100.0124.725.60.00+00
29100118+40.0225.125.20.00+00
2915031+10.0125.025.40.00+00
2920038+20.0125.225.40.00+00
2925012+10.0025.025.20.00+00
293007+00.0025.225.30.00+00
293503+00.0025.125.60.00+00
294002+00.0025.125.40.00+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, monthly81,573,491+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.