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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
Expiry10-20current10-27next/monthly11-0311-1011-2412-29far
Strikes around ATM±5±10±15±25All
Source: SYNTHETIC · 2026-10-19 15:30 IST

Premium traded

Total call premium
₹15 Cr
Total put premium
₹12 Cr
Put/Call premium ratio
0.79
Call/Put premium ratio
1.27
Net put premium
−₹3 Cr
Net call premium
₹3 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
149,728 / +8,529
Put OI / ΔOI
151,897 / +16,026
OI PCR
1.01
Premium PCR
0.79
Volume PCR
1.12

OI PCR 1.01 (neutral) and premium PCR 0.79 (bullish) do not contradict each other.

Max Pain & concentration

Spot
26,588.40
ATM strike
26600
Max Pain
26600
Spot vs Max Pain
−12 (−0.04%)
Potential support (put OI)
26300–26500
Potential resistance (call OI)
27000
Largest call OI
27000: 16,483
26500: 12,169
26800: 11,357
Largest call OI adds
27000: +1,224
26500: +1,020
26850: +980
Largest put OI
26500: 13,279
26300: 12,733
26200: 11,499
Largest put OI adds
26450: +1,638
26000: +1,605
26350: +1,354

IV & skew

ATM IV
20.95
ATM call / put IV
20.9 / 21.0
25Δ call IV
—
25Δ put IV
21.15
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 (±15 strikes, ATM = nearest ±1 strike)

ITMATMOTM
Calls₹3 Cr₹3 Cr₹9 Cr
Puts₹2 Cr₹3 Cr₹7 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₹11 Cr₹0 Cr
writing₹0 Cr₹12 Cr
short covering₹1 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹3 Cr₹0 Cr

Premium pressure: calls ₹9 Cr, puts −₹10 Cr → net ₹18 Cr (+0.66 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 · NIFTY 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
2585015+10.0020.721.20.06+2411,819
2590047+30.0020.520.70.09+4723,583
2595065+60.0121.021.10.09+1023,300
26000223+140.0220.720.90.29+1,6058,926
26050151+00.0120.621.10.18+1,0645,143
26100398+580.0420.920.90.22+1,0237,817
26150412+450.0521.120.80.36+4517,255
26200927+480.0920.420.80.48+1,21511,499
262501,083+60.1121.020.50.34+6225,675
263002,215+30.1620.320.91.06+99012,733
263501,877+1040.2720.820.60.69+1,3548,657
264004,641+3580.4920.521.00.96+5699,993
264503,263+720.3620.320.70.86+1,6388,996
2650012,169+1,0201.5621.020.91.73+99113,279
265504,833-1250.7821.020.81.06+7417,234
266007,983+71.6620.9◆ 26,588.421.00.88+3267,198
266507,878+9290.9320.720.60.77+5345,865
2670010,703+5271.3920.621.00.89+2057,465
267507,179-31.2720.520.70.42+8214,550
2680011,357+7451.5620.521.00.22+3542,904
268509,821+9801.1220.620.80.14+2412,180
2690011,048+7671.0420.920.70.11+1841,745
269505,905+3450.3821.020.90.05+93806
2700016,483+1,2240.7321.020.90.18+902,101
270506,173+90.2020.620.90.04+11444
271007,970+1910.6321.121.00.02+41319
271503,112+860.1820.420.80.01+26172
272004,361+4590.1421.020.80.01+13128
272502,663+1720.0820.721.00.00+559
273003,218+3780.1420.520.90.00+236
273501,555+1000.0520.721.00.00+216
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
2026-10-20current12,605,937+225,627₹260 Cr0.971.0220.60.32660026500 / 2700076
2026-10-27next, monthly81,624,666+129,981₹287 Cr1.051.1320.90.52660026500 / 2670083
2026-12-29far71263,033+19,804₹26 Cr0.770.9620.9—2660026300–26500 / 2700072

Expiry positioning shift: Bullish-leaning positioning in the current expiry also appears in later expiries (near 76, later 82).

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