NIFTY Option Chain

Expiry:

Spot Price

23,398.10

Put/Call Ratio (PCR)

1.06

Bullish bias

Max Pain

23,450

expiry magnet

Key Support

23,300

highest PE OI

Key Resistance

24,000

highest CE OI

In-the-money (ITM) At-the-money (ATM)

Calls (CE)				Strike	Puts (PE)
OI (Contracts)	Chg OI	IV	LTP (₹)	Strike Price	LTP (₹)	IV	Chg OI	OI (Contracts)
0	+0	—	0.00	21,700	1.30	29.01	+67,656	92,667
0	+0	—	0.00	21,750	1.30	28.23	+8,462	15,606
0	+0	—	0.00	21,800	1.25	27.33	+25,499	35,926
0	+0	—	0.00	21,850	1.55	27.22	+3,700	4,542
0	+0	—	0.00	21,900	1.50	26.33	+14,818	47,956
0	+0	—	0.00	21,950	1.75	26.02	+13,202	15,404
36	-56	39.36	1,448.25	22,000	1.70	25.12	+77,242	1,21,763
0	+0	—	0.00	22,050	1.80	24.49	+1,438	11,092
0	+0	—	0.00	22,100	1.55	23.25	-15,376	46,548
0	+0	—	0.00	22,150	1.80	22.87	+1,063	13,562
0	+0	—	0.00	22,200	1.60	21.74	+19,165	67,353
0	+0	—	0.00	22,250	1.95	21.47	+11,001	21,426
45	-30	35.44	1,159.05	22,300	2.05	20.79	+21,023	42,290
0	+0	—	0.00	22,350	2.30	20.28	+5,102	11,445
11	+3	33.86	1,062.75	22,400	2.60	19.77	+23,498	76,393
0	+0	—	0.00	22,450	2.70	19.02	+2,737	13,877
329	-18	31.09	961.60	22,500	2.90	18.36	+21,061	1,45,798
0	+0	—	0.00	22,550	3.20	17.75	+11,113	21,858
95	+73	27.82	858.20	22,600	3.60	17.18	+18,963	56,437
18	+17	18.31	780.00	22,650	4.00	16.56	+10,323	20,206
662	+311	25.46	759.00	22,700	4.55	15.99	+36,234	77,150
299	+279	25.41	715.35	22,750	5.40	15.52	+22,388	39,172
1,341	+687	24.56	668.00	22,800	5.90	14.80	+25,097	98,372
499	+479	23.25	618.35	22,850	6.70	14.16	+29,802	51,854
1,471	+881	22.18	570.20	22,900	8.10	13.68	+51,043	1,04,419
967	+841	20.14	516.35	22,950	9.00	12.93	+10,258	54,427
5,977	+715	20.03	474.80	23,000	11.65	12.61	+26,843	1,90,141
1,930	+1,460	16.74	412.90	23,050	14.00	12.04	+8,196	49,434
5,551	+3,320	17.73	380.00	23,100	17.50	11.57	+32,038	1,21,505
4,125	+3,165	17.04	337.00	23,150	22.30	11.15	+35,697	65,771
17,867	+12,276	15.55	288.50	23,200	28.20	10.68	+56,084	1,69,816
21,583	+18,544	14.75	246.75	23,250	36.00	10.24	+95,016	1,23,671
42,724	+28,419	14.33	210.05	23,300	44.65	9.62	+1,16,304	2,12,343
32,672	+22,495	13.37	170.55	23,350	56.75	9.10	+41,060	93,605
94,756	+7,012	12.43	133.60	23,400	70.40	8.37	+15,434	1,38,303
62,132	-14,954	11.87	103.40	23,450	90.60	7.85	+5,971	54,588
1,43,076	-37,071	11.19	75.65	23,500	112.75	6.95	-30,755	65,317
75,088	+1,779	10.78	54.35	23,550	141.00	5.83	-7,449	14,159
1,21,583	-5,057	10.46	37.70	23,600	175.00	—	-13,466	21,396
76,519	-2,191	10.22	25.35	23,650	215.40	—	-4,208	8,143
1,54,460	+13,936	10.12	16.90	23,700	251.10	—	-10,812	23,091
83,126	+5,004	9.98	10.65	23,750	302.30	—	-7,349	6,782
1,78,369	+31,720	10.07	7.10	23,800	345.00	—	-9,985	15,875
46,335	-9,867	10.47	5.40	23,850	393.50	—	-1,552	3,346
1,06,225	-18,259	10.89	4.20	23,900	442.00	—	-6,822	17,141
46,621	-4,836	11.43	3.50	23,950	490.60	—	-766	1,789
2,10,284	-4,159	11.83	2.75	24,000	540.00	—	-9,962	19,796
40,356	-284	12.20	2.15	24,050	594.35	—	-446	1,132
89,450	-11,944	12.68	1.80	24,100	641.00	—	-2,796	5,661
32,509	-1,242	13.01	1.40	24,150	693.80	—	-101	1,026
83,936	-17,331	13.42	1.15	24,200	737.50	—	-2,143	6,290
27,696	-1,010	14.08	1.10	24,250	799.20	—	-117	689
56,929	-25,545	14.63	1.00	24,300	840.00	—	-718	3,117
16,338	-34,223	15.05	0.85	24,350	903.95	—	-149	592
77,345	-29,149	16.06	1.00	24,400	939.60	—	-1,044	2,208
10,802	-8,330	15.67	0.55	24,450	1,011.95	—	-58	217
1,55,594	-16,173	17.36	0.95	24,500	1,043.00	—	-1,659	4,886
14,115	-6,443	17.44	0.70	24,550	1,095.00	—	-70	305
47,394	-14,996	18.25	0.75	24,600	1,141.60	—	-716	1,418
16,732	+773	18.92	0.75	24,650	1,216.65	—	-57	135
37,688	-13,334	19.29	0.65	24,700	1,244.50	—	-166	386
14,703	-824	19.60	0.55	24,750	1,320.00	—	-11	59
46,547	-22,803	20.04	0.50	24,800	1,341.25	—	-299	383
11,812	-2,223	20.46	0.45	24,850	0.00	—	+0	0
15,256	-29,610	21.09	0.45	24,900	1,461.00	—	-143	207
8,344	-3,281	21.46	0.40	24,950	0.00	—	+0	0
84,373	-47,119	21.80	0.35	25,000	1,535.40	—	-730	1,297
7,372	-4,047	22.09	0.30	25,050	1,730.00	59.05	+0	1
10,064	-28,669	22.68	0.30	25,100	1,672.00	—	-18	99
5,598	-3,859	23.27	0.30	25,150	1,585.00	—	+0	5
22,583	-38,024	24.20	0.35	25,200	1,758.35	—	-3	48
12,253	-320	24.45	0.30	25,250	1,685.00	—	+0	8
12,964	-20,316	24.63	0.25	25,300	1,865.40	—	-1	59
2,477	-3,859	26.29	0.40	25,350	0.00	—	+0	0
8,298	-14,824	25.78	0.25	25,400	2,040.00	58.78	-1	24
4,177	-1,378	27.77	0.45	25,450	1,885.00	—	+0	22
26,771	-29,195	27.72	0.35	25,500	2,046.35	—	-585	959
3,270	-1,333	27.48	0.25	25,550	2,140.00	45.73	+0	8
7,409	-1,592	28.04	0.25	25,600	2,280.00	71.64	+0	4
893	-108	29.45	0.35	25,650	1,940.00	—	+0	9
4,256	-1,037	29.62	0.30	25,700	0.00	—	+0	0
807	+27	30.19	0.30	25,750	0.00	—	+0	0
12,592	-2,605	30.28	0.25	25,800	2,350.00	—	-2	8
917	-138	31.31	0.30	25,850	0.00	—	+0	0
4,559	-8,391	32.29	0.35	25,900	0.00	—	+0	0
997	+112	32.86	0.35	25,950	0.00	—	+0	0
23,785	-8,764	32.98	0.30	26,000	2,543.85	—	-524	924
1,138	+177	33.53	0.30	26,050	0.00	—	+0	0
2,381	-572	34.53	0.35	26,100	0.00	—	+0	0
1,448	-476	35.09	0.35	26,150	0.00	—	+0	0
6,289	-107	35.18	0.30	26,200	0.00	—	+0	0

Option Chain Guide

• ITM (In-the-money) columns are highlighted in gold.
• The horizontal red and green bars behind the Open Interest (OI) numbers show the volume weight of the contract, helping you easily identify support (green) and resistance (red) levels.
• The row with the gold highlight represents the current ATM (At-the-money) strike price nearest to the spot index.

Learn More

Understanding the Nifty Option Chain

A comprehensive guide to analyzing derivatives data for better trading decisions.

What is an Option Chain?

An option chain is a comprehensive matrix that displays all available options contracts (Calls and Puts) for a specific underlying asset, like the NIFTY 50 index. It lists strike prices, premiums (LTP), implied volatility (IV), and critical data points like Open Interest (OI). Traders use the option chain to gauge market sentiment, identify support and resistance levels, and construct complex hedging strategies.

Key Indicators in the Nifty Option Chain

To effectively analyze the Nifty option chain, traders focus on several core metrics:

Open Interest (OI): The total number of outstanding derivative contracts. High OI at a specific strike price acts as a magnet for the underlying asset.
Support and Resistance: The strike price with the highest Call OI generally acts as a strong resistance level (ceiling), while the strike with the highest Put OI acts as a strong support level (floor).
Put/Call Ratio (PCR): Calculated by dividing total Put OI by total Call OI. A PCR above 1 indicates a bullish sentiment, while a PCR below 1 suggests a bearish outlook. Extreme PCR values (e.g., above 1.5 or below 0.5) often signal oversold or overbought conditions, ripe for a reversal.
Max Pain: The strike price at which option buyers lose the most money, and option sellers (writers) maximize their profits upon expiry. The market often gravitates toward this price as expiry approaches.
Implied Volatility (IV): A measure of the market's expectation of future price swings. High IV implies large expected moves (often downwards), while low IV suggests a calmer, consolidating market.

How to Trade using the Option Chain

Professional traders combine option chain data with technical analysis. For example, if Nifty is approaching a technical resistance level and the option chain shows a massive buildup of Call OI at that same strike, it confirms a high-probability reversal zone. Conversely, a sudden unwinding (reduction) of Call OI at resistance indicates "short covering," which often fuels aggressive breakout rallies.

Frequently asked questions

How often is the Nifty Option Chain updated?+

The data is refreshed automatically every few minutes during market hours directly from the NSE feed.

What does an increasing OI with rising price signify?+

This generally implies 'Long Buildup' in the market, suggesting a strong bullish trend.

Why is Max Pain important?+

Institutional option writers try to keep the expiry price near the Max Pain strike to minimize their payout to option buyers.

How is PCR calculated?+

Put Call Ratio is calculated by dividing the total Open Interest of Puts by the total Open Interest of Calls.