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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
₹90 Cr
Total put premium
₹94 Cr
Put/Call premium ratio
1.04
Call/Put premium ratio
0.96
Net put premium
₹4 Cr
Net call premium
−₹4 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
162,508 / +9,702
Put OI / ΔOI
210,927 / +17,653
OI PCR
1.30
Premium PCR
1.04
Volume PCR
1.40

OI PCR 1.30 (bullish) and premium PCR 1.04 (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)
27700
Potential resistance (call OI)
28000
Largest call OI
28000: 34,786
28100: 28,925
28150: 18,665
Largest call OI adds
28150: +2,455
28000: +2,200
28100: +1,346
Largest put OI
27700: 33,975
27800: 32,599
28000: 28,712
Largest put OI adds
28000: +3,758
27900: +2,915
27700: +2,665

IV & skew

ATM IV
25.14
ATM call / put IV
25.1 / 25.2
25Δ call IV
—
25Δ put IV
25.21
Skew (put − call)
—
Days to expiry
71

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₹16 Cr₹24 Cr₹51 Cr
Puts₹25 Cr₹28 Cr₹41 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₹79 Cr₹0 Cr
writing₹0 Cr₹82 Cr
short covering₹11 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹0 Cr₹12 Cr

Premium pressure: calls ₹60 Cr, puts −₹68 Cr → net ₹128 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 · 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
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
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.