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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
₹175 Cr
Total put premium
₹217 Cr
Put/Call premium ratio
1.24
Call/Put premium ratio
0.80
Net put premium
₹42 Cr
Net call premium
−₹42 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
411,906 / +23,109
Put OI / ΔOI
538,367 / +50,491
OI PCR
1.31
Premium PCR
1.24
Volume PCR
1.39

POSITIONING DIVERGENCE: open interest reads bullish (OI PCR 1.31) while traded premium reads bearish (premium PCR 1.24). Positioning and fresh money flow point in different directions.

Max Pain & concentration

Spot
27,917.82
ATM strike
27900
Max Pain
27950
Spot vs Max Pain
−32 (−0.12%)
Potential support (put OI)
27650–27800
Potential resistance (call OI)
28000
Largest call OI
28000: 84,550
28100: 64,022
28150: 58,297
Largest call OI adds
27900: +5,826
28150: +3,812
28050: +3,687
Largest put OI
27800: 91,333
27700: 70,790
28000: 68,648
Largest put OI adds
27650: +7,706
27700: +7,562
28000: +6,282

IV & skew

ATM IV
24.96
ATM call / put IV
25.1 / 24.9
25Δ call IV
—
25Δ put IV
24.90
Skew (put − call)
—
Days to expiry
8

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₹36 Cr₹53 Cr₹86 Cr
Puts₹64 Cr₹73 Cr₹81 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₹166 Cr₹0 Cr
writing₹0 Cr₹217 Cr
short covering₹0 Cr₹0 Cr
long unwinding₹0 Cr₹0 Cr
no clear signal₹9 Cr₹0 Cr

Premium pressure: calls ₹119 Cr, puts −₹186 Cr → net ₹305 Cr (+0.78 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 2026-10-27

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
276508,927+3313.8324.924.916.45+7,70659,534
2770022,074+2,12612.9425.325.520.94+7,56270,790
2775020,041+389.1425.125.015.66+5,73656,519
2780024,725+70510.1425.425.227.50+1,82891,333
2785025,897+1,27316.8825.125.019.67+3,46341,727
2790038,694+5,82625.7925.1◆ 27,917.824.937.12+2,86861,219
2795029,370+74910.5425.025.115.81+6,14833,344
2800084,550+2,86029.1824.525.439.36+6,28268,648
2805035,309+3,68715.9024.925.314.35+4,32225,365
2810064,022+1,70223.1924.624.77.30+3,38620,839
2815058,297+3,81217.3025.125.43.17+1,1909,049
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.