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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
₹273 Cr
Total put premium
₹297 Cr
Put/Call premium ratio
1.08
Call/Put premium ratio
0.92
Net put premium
₹23 Cr
Net call premium
−₹23 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
737,098 / +55,517
Put OI / ΔOI
838,113 / +83,692
OI PCR
1.14
Premium PCR
1.08
Volume PCR
1.19

OI PCR 1.14 (bullish) and premium PCR 1.08 (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)
60200
Largest call OI
60200: 83,915
60000: 77,399
60600: 76,284
Largest call OI adds
60000: +14,634
60200: +7,578
60600: +5,301
Largest put OI
59000: 105,149
59200: 87,440
59400: 83,435
Largest put OI adds
59400: +13,671
60000: +8,813
59200: +8,669

IV & skew

ATM IV
25.10
ATM call / put IV
25.2 / 25.0
25Δ call IV
25.37
25Δ put IV
25.14
Skew (put − call)
-0.23
Days to expiry
8

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

Premium by moneyness (±10 strikes, ATM = nearest ±1 strike)

ITMATMOTM
Calls₹51 Cr₹63 Cr₹159 Cr
Puts₹76 Cr₹78 Cr₹143 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₹297 Cr
short covering₹0 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹50 Cr₹0 Cr

Premium pressure: calls ₹190 Cr, puts −₹267 Cr → net ₹457 Cr (+0.80 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 2026-10-27

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
588002,084+2170.7725.225.15.26+96546,619
589002,552+2510.7925.425.35.83+3,01832,922
590008,525-532.9825.325.815.89+3,9361,05,149
591003,267+2241.5124.925.18.69+3,29644,949
592008,017+2423.5725.125.120.42+8,66987,440
593009,405+7805.6124.925.315.96+7,24748,566
5940015,992+8598.5125.324.920.38+13,67183,435
5950013,220+685.3025.024.924.98+5,83347,724
5960036,435+4,35422.2524.925.125.40+4,98157,075
5970028,567+3,60616.7625.525.319.09+3,27335,299
5980040,937+2,15224.4825.2◆ 59,823.925.039.94+5,96455,446
5990037,862+23721.5525.025.719.14+4,14037,161
6000077,399+14,63430.3125.225.232.99+8,81367,058
6010046,454+3,66820.2125.225.29.38+2,70921,709
6020083,915+7,57827.8425.025.212.87+2,82422,602
6030046,994-11019.8425.225.56.07+1,64713,426
6040068,512+3,80321.6724.925.36.27+90612,508
6050037,968+4,30410.0225.325.33.16+6416,725
6060076,284+5,30113.7425.225.22.64+3936,503
6070043,862+1,1787.6825.325.11.03+4462,820
6080048,847+2,2247.9625.425.31.15+3202,977
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.