Showing SYNTHETIC demo data — Dhan access token expired 01 Oct, 12:49 IST.
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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.
Premium traded
- Total call premium
- ₹134 Cr
- Total put premium
- ₹131 Cr
- Put/Call premium ratio
- 0.97
- Call/Put premium ratio
- 1.03
- 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
- 1,492,992 / +104,125
- Put OI / ΔOI
- 1,570,372 / +155,378
- OI PCR
- 1.05
- Premium PCR
- 0.97
- Volume PCR
- 1.03
OI PCR 1.05 (neutral) and premium PCR 0.97 (neutral) 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)
- 26500
- Potential resistance (call OI)
- 27000
IV & skew
- ATM IV
- 20.63
- ATM call / put IV
- 20.5 / 20.8
- 25Δ call IV
- 20.74
- 25Δ put IV
- 21.02
- Skew (put − call)
- 0.28
- Days to expiry
- 1
Skew changes over 1D/1W/1M: see the “NIFTY 25Δ IV skew” indicator on Factors & Data.
Premium by moneyness (±25 strikes, ATM = nearest ±1 strike)
| ITM | ATM | OTM | |
|---|---|---|---|
| Calls | ₹66 Cr | ₹32 Cr | ₹37 Cr |
| Puts | ₹48 Cr | ₹36 Cr | ₹47 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 / likely | Calls | Puts |
|---|---|---|
| fresh buying | ₹112 Cr | ₹0 Cr |
| writing | ₹0 Cr | ₹131 Cr |
| short covering | ₹15 Cr | ₹0 Cr |
| long unwinding | ₹0 Cr | ₹0 Cr |
| no clear signal | ₹7 Cr | ₹0 Cr |
Premium pressure: calls ₹86 Cr, puts −₹119 Cr → net ₹205 Cr (+0.77 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 2026-10-20
| Strike ↑ | Call OI | Call ΔOI | Call prem ₹Cr | Call IV | Spot | Put IV | Put prem ₹Cr | Put ΔOI | Put OI |
|---|---|---|---|---|---|---|---|---|---|
| 25350 | 0 | +0 | 0.00 | 24.7 | 26.1 | 0.00 | +23 | 180 | |
| 25400 | 0 | +0 | 0.00 | 24.0 | 25.7 | 0.00 | +50 | 401 | |
| 25450 | 0 | +0 | 0.00 | 24.5 | 25.5 | 0.00 | +53 | 586 | |
| 25500 | 2 | +0 | 0.00 | 23.8 | 24.9 | 0.00 | +96 | 1,991 | |
| 25550 | 2 | +0 | 0.00 | 23.5 | 25.0 | 0.00 | +69 | 1,565 | |
| 25600 | 8 | +-0 | 0.00 | 23.0 | 24.5 | 0.00 | +291 | 3,093 | |
| 25650 | 14 | +1 | 0.01 | 23.1 | 24.3 | 0.00 | +322 | 3,835 | |
| 25700 | 40 | +1 | 0.02 | 22.5 | 24.3 | 0.01 | +434 | 11,131 | |
| 25750 | 53 | +6 | 0.02 | 22.5 | 23.4 | 0.00 | +969 | 7,455 | |
| 25800 | 179 | +5 | 0.07 | 21.9 | 23.4 | 0.02 | +1,002 | 23,030 | |
| 25850 | 188 | +19 | 0.08 | 22.2 | 23.2 | 0.02 | +1,899 | 11,615 | |
| 25900 | 513 | +49 | 0.17 | 21.8 | 22.9 | 0.07 | +4,034 | 36,476 | |
| 25950 | 439 | +16 | 0.15 | 21.6 | 22.6 | 0.07 | +1,909 | 31,558 | |
| 26000 | 2,453 | +116 | 0.97 | 21.2 | 22.0 | 0.20 | +6,509 | 75,676 | |
| 26050 | 1,912 | +101 | 0.43 | 21.0 | 21.8 | 0.22 | +2,764 | 43,585 | |
| 26100 | 3,311 | +136 | 0.69 | 21.2 | 21.8 | 0.45 | +6,454 | 78,040 | |
| 26150 | 4,212 | +457 | 1.07 | 21.4 | 21.7 | 0.93 | +9,278 | 74,291 | |
| 26200 | 10,042 | +661 | 3.46 | 21.2 | 21.5 | 2.15 | +11,601 | 1,42,328 | |
| 26250 | 10,258 | +464 | 2.67 | 20.9 | 21.2 | 1.50 | +1,893 | 80,689 | |
| 26300 | 16,893 | +89 | 4.87 | 21.0 | 21.4 | 3.65 | +15,733 | 1,15,899 | |
| 26350 | 16,035 | +383 | 3.36 | 20.9 | 21.1 | 3.24 | +4,543 | 76,813 | |
| 26400 | 43,863 | +1,287 | 13.13 | 20.7 | 21.0 | 5.86 | +10,735 | 1,15,746 | |
| 26450 | 36,696 | +2,827 | 9.20 | 20.9 | 21.1 | 6.98 | +7,446 | 83,701 | |
| 26500 | 1,01,222 | +17,228 | 25.40 | 20.5 | 21.2 | 21.59 | +22,699 | 1,65,750 | |
| 26550 | 30,076 | +1,620 | 6.18 | 21.2 | 20.7 | 7.09 | +6,117 | 46,968 | |
| 26600 | 85,519 | -2,801 | 14.85 | 20.5 | ◆ 26,588.4 | 20.8 | 18.51 | +10,978 | 99,926 |
| 26650 | 68,545 | +3,996 | 10.87 | 20.7 | 20.9 | 10.15 | +5,228 | 44,758 | |
| 26700 | 1,26,725 | +2,557 | 15.66 | 20.7 | 20.7 | 14.50 | +8,737 | 60,358 | |
| 26750 | 89,436 | +9,530 | 5.02 | 21.1 | 21.0 | 2.99 | +3,529 | 26,840 | |
| 26800 | 1,18,922 | +12,042 | 5.54 | 20.7 | 21.0 | 5.86 | +879 | 25,915 | |
| 26850 | 75,524 | +187 | 2.23 | 20.5 | 20.7 | 6.78 | +2,379 | 18,782 | |
| 26900 | 1,19,659 | +7,395 | 3.24 | 20.9 | 21.3 | 6.55 | +3,362 | 23,536 | |
| 26950 | 78,953 | +8,166 | 1.49 | 20.9 | 21.7 | 2.65 | +634 | 8,975 | |
| 27000 | 1,51,196 | +14,350 | 2.04 | 21.0 | 21.7 | 4.71 | +1,315 | 15,650 | |
| 27050 | 44,999 | +4,035 | 0.47 | 21.3 | 21.9 | 1.34 | +652 | 5,341 | |
| 27100 | 60,035 | +6,504 | 0.45 | 21.1 | 22.2 | 0.98 | +322 | 3,510 | |
| 27150 | 45,229 | +5,516 | 0.21 | 21.8 | 22.4 | 0.63 | +163 | 1,586 | |
| 27200 | 52,375 | +2,831 | 0.08 | 21.1 | 22.5 | 0.47 | +140 | 1,400 | |
| 27250 | 26,697 | +1,759 | 0.06 | 21.9 | 22.4 | 0.19 | +35 | 543 | |
| 27300 | 22,907 | -407 | 0.04 | 22.0 | 22.8 | 0.14 | +42 | 433 | |
| 27350 | 11,296 | +580 | 0.01 | 22.1 | 22.9 | 0.05 | +23 | 140 | |
| 27400 | 15,670 | +1,342 | 0.01 | 22.0 | 23.1 | 0.08 | +28 | 173 | |
| 27450 | 5,866 | +141 | 0.00 | 22.6 | 23.9 | 0.01 | +2 | 39 | |
| 27500 | 6,475 | +392 | 0.00 | 22.8 | 23.7 | 0.02 | +5 | 45 | |
| 27550 | 3,015 | +174 | 0.00 | 22.7 | 24.3 | 0.01 | +1 | 11 | |
| 27600 | 2,532 | +233 | 0.00 | 23.0 | 24.7 | 0.00 | +1 | 5 | |
| 27650 | 1,119 | +46 | 0.00 | 23.1 | 24.6 | 0.00 | +0 | 2 | |
| 27700 | 963 | +52 | 0.00 | 23.6 | 25.1 | 0.00 | +0 | 2 | |
| 27750 | 468 | +14 | 0.00 | 24.3 | 25.6 | 0.00 | +0 | 0 | |
| 27800 | 342 | +18 | 0.00 | 24.5 | 26.0 | 0.00 | +0 | 0 | |
| 27850 | 114 | +7 | 0.00 | 24.8 | 26.2 | 0.00 | +0 | 0 |
Net premium pressure vs underlying
Expiry structure & positioning shift
| Expiry | Type | Days | OI | ΔOI | Premium | Prem. PCR | OI PCR | ATM IV | Skew | Max Pain | Support / resistance | Positioning |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-10-20 | current | 1 | 2,605,937 | +225,627 | ₹260 Cr | 0.97 | 1.02 | 20.6 | 0.3 | 26600 | 26500 / 27000 | 76 |
| 2026-10-27 | next, monthly | 8 | 1,624,666 | +129,981 | ₹287 Cr | 1.05 | 1.13 | 20.9 | 0.5 | 26600 | 26500 / 26700 | 83 |
| 2026-12-29 | far | 71 | 263,033 | +19,804 | ₹26 Cr | 0.77 | 0.96 | 20.9 | — | 26600 | 26300–26500 / 27000 | 72 |
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.