NIFTY Option Chain

Expiry:

Spot Price

23,767.45

Put/Call Ratio (PCR)

0.83

Bearish bias

Max Pain

23,900

expiry magnet

Key Support

23,000

highest PE OI

Key Resistance

25,000

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)
404	-100	50.14	2,695.00	21,100	0.60	40.23	-661	40,658
2	+0	—	2,502.70	21,150	0.60	39.51	+84	2,041
3	+0	—	2,521.10	21,200	0.60	38.78	+1,255	11,728
1	+0	—	2,872.95	21,250	0.65	38.35	+26	566
31	+0	106.25	2,615.00	21,300	0.60	37.34	+991	12,065
0	+0	—	0.00	21,350	0.65	36.90	+1,498	2,726
0	+0	—	0.00	21,400	0.75	36.68	+1,645	5,358
0	+0	—	0.00	21,450	0.75	35.95	+498	766
5,654	-586	59.95	2,322.80	21,500	0.75	35.22	+5,098	35,045
0	+0	—	0.00	21,550	0.75	34.48	+376	647
0	+0	—	0.00	21,600	0.80	33.97	-874	5,497
1	+0	—	1,938.20	21,650	0.70	32.80	+296	716
0	+0	62.77	0.00	21,700	0.80	32.50	+104	3,857
0	+0	—	0.00	21,750	0.85	31.96	+269	759
2	+0	15.68	2,230.00	21,800	0.95	31.59	+3,937	19,240
1	+0	—	2,031.20	21,850	0.85	30.49	-195	570
8	+0	52.21	2,080.00	21,900	0.90	29.93	+683	4,349
7	+5	50.85	1,875.90	21,950	0.90	29.19	+337	722
6,042	-1,885	46.79	1,817.55	22,000	1.10	29.07	+6,549	74,090
1	+0	76.50	1,825.05	22,050	0.95	27.87	+229	1,297
3	+1	—	1,586.15	22,100	1.05	27.42	+2,810	11,383
24	+0	61.38	1,902.90	22,150	0.95	26.38	+301	1,088
28	-2	34.18	1,600.00	22,200	1.20	26.30	+3,589	15,567
4	+0	69.62	1,620.60	22,250	1.20	25.54	+3,036	4,776
6	-2	30.19	1,497.25	22,300	1.30	25.01	+6,445	22,797
4	+0	44.15	1,636.55	22,350	1.50	24.66	+2,932	5,919
11	+0	45.36	1,445.00	22,400	1.60	24.06	+3,102	24,703
5	+0	60.32	1,400.00	22,450	1.90	23.78	+3,037	4,809
3,071	-123	36.34	1,319.70	22,500	2.00	23.13	+21,152	1,07,609
4	+0	—	1,639.65	22,550	2.00	22.33	+2,253	4,653
30	-7	—	1,190.00	22,600	2.00	21.52	+17,879	38,022
52	+0	62.36	1,260.95	22,650	2.50	21.34	+2,160	11,406
88	-1	30.90	1,116.70	22,700	2.55	20.57	+23,777	47,820
71	+3	33.28	1,080.25	22,750	2.75	19.95	+9,784	15,079
279	-56	30.51	1,023.80	22,800	3.05	19.40	+15,330	65,697
14	+1	25.10	958.85	22,850	3.10	18.59	+644	16,695
843	-4	27.19	920.00	22,900	3.65	18.17	+16,257	42,523
23	+1	21.63	855.05	22,950	3.60	17.26	+9,039	23,348
7,358	-1,952	25.10	821.15	23,000	4.40	16.92	+39,094	2,03,409
28	+9	24.54	774.00	23,050	5.35	16.56	+7,165	19,037
754	+39	23.72	725.95	23,100	5.50	15.70	+14,327	52,869
127	+86	21.86	673.00	23,150	6.10	15.04	+5,392	28,448
915	+80	21.22	626.10	23,200	6.80	14.37	+26,712	93,459
232	+2	19.88	575.80	23,250	8.15	13.89	+16,267	36,594
1,501	+260	19.18	529.15	23,300	9.90	13.43	+45,255	1,19,895
1,030	+266	18.15	481.00	23,350	12.50	13.08	+11,470	44,987
2,027	+645	17.33	434.50	23,400	14.90	12.52	+22,106	1,06,545
1,287	+735	16.30	387.20	23,450	18.90	12.15	+20,542	41,120
14,895	+2,277	15.88	345.00	23,500	24.80	11.92	+21,692	1,59,245
3,501	+2,752	14.93	299.85	23,550	31.15	11.51	+22,379	43,324
16,091	+10,440	14.31	258.65	23,600	39.20	11.11	+41,557	1,21,750
17,910	+15,850	13.63	218.50	23,650	50.30	10.82	+41,166	62,179
61,548	+49,301	13.22	182.90	23,700	64.40	10.55	+49,654	1,27,850
27,188	+21,405	13.03	152.10	23,750	81.85	10.30	+31,973	59,894
1,11,423	+59,026	12.68	122.65	23,800	102.80	10.03	+2,877	1,24,560
55,613	+2,348	12.45	97.60	23,850	127.70	9.75	-27,433	34,522
90,726	-15,245	12.23	75.85	23,900	155.40	9.31	-50,595	48,841
45,670	-9,444	12.05	57.70	23,950	187.05	8.79	-7,014	20,168
2,07,372	+8,169	12.07	44.30	24,000	223.75	8.30	-24,529	72,119
60,922	-4,771	12.17	34.00	24,050	262.00	7.06	-4,950	10,754
1,57,174	+5,523	12.00	24.15	24,100	303.10	—	-11,582	38,537
64,389	-1,850	12.13	18.10	24,150	349.65	—	-1,898	5,378
2,03,857	+5,766	12.40	14.00	24,200	388.05	—	-16,856	42,731
60,689	+3,027	12.44	10.05	24,250	440.70	—	-2,117	6,223
1,37,715	+10,053	12.77	7.90	24,300	486.15	—	-5,692	18,060
39,432	-18,071	13.00	6.00	24,350	537.00	—	-1,480	1,794
1,09,035	+5,619	13.45	5.00	24,400	586.00	—	-1,329	11,320
31,819	-13,983	14.02	4.40	24,450	631.65	—	-260	1,229
1,79,756	+12,352	14.55	3.85	24,500	684.95	—	-5,102	34,051
31,650	-3,504	14.91	3.15	24,550	733.85	—	-312	1,051
80,862	-14,105	15.22	2.55	24,600	779.90	—	-1,679	4,393
44,034	-222	15.87	2.40	24,650	836.50	—	-24	571
81,750	-27,160	16.33	2.10	24,700	885.25	—	-1,280	2,398
27,611	-3,498	16.80	1.85	24,750	935.75	—	+8	511
98,296	+946	17.34	1.70	24,800	985.15	—	-1,595	2,704
20,744	-5,162	18.00	1.65	24,850	1,025.00	—	-8	294
53,728	+855	18.26	1.35	24,900	1,085.00	—	-294	1,006
19,272	-16,401	19.21	1.50	24,950	1,068.45	—	+0	198
2,31,527	-15,414	19.57	1.30	25,000	1,178.25	—	-3,242	21,651
10,021	-4,217	20.17	1.25	25,050	1,247.05	—	+0	37
50,214	-22,392	20.75	1.20	25,100	1,280.00	—	-104	592
11,402	-3,777	21.33	1.15	25,150	1,276.35	—	+0	30
86,763	-6,000	21.27	0.85	25,200	1,375.00	—	-56	1,576
16,459	+1,941	21.77	0.80	25,250	1,375.60	—	+0	18
94,534	+17,348	22.26	0.75	25,300	1,479.00	—	-76	265
33,886	+2,957	22.74	0.70	25,350	1,676.20	59.22	-4	24
55,606	-4,614	23.19	0.65	25,400	1,560.00	—	-7	213
11,742	+83	23.81	0.65	25,450	1,500.00	—	+0	3
1,17,609	-72,277	24.43	0.65	25,500	1,679.55	—	-4,194	12,705
11,401	-4,622	24.85	0.60	25,550	1,208.30	—	+0	11
22,603	-12,210	25.46	0.60	25,600	1,810.00	33.23	-32	190
4,186	-5,991	26.28	0.65	25,650	1,485.00	30.25	+0	8
11,343	-6,231	26.45	0.55	25,700	1,890.00	—	-12	181
2,488	-879	27.50	0.65	25,750	1,966.30	40.07	-1	10
17,797	-2,979	27.40	0.50	25,800	1,988.00	—	-75	323
2,242	-68	28.24	0.55	25,850	2,050.00	—	-1	4
6,074	-20	28.57	0.50	25,900	2,090.00	—	-11	58
2,318	-502	29.16	0.50	25,950	2,074.80	—	+0	8
80,594	-6,148	29.45	0.45	26,000	2,179.65	—	-5,107	22,054
2,888	-222	30.03	0.45	26,050	2,175.50	—	+0	16
4,691	-542	30.60	0.45	26,100	2,281.80	—	-159	382
1,705	-755	31.18	0.45	26,150	2,060.00	—	+0	1
4,524	-1,324	31.75	0.45	26,200	2,380.00	—	-5	599
3,119	-403	31.97	0.40	26,250	1,770.65	24.86	+0	1
16,660	-2,585	32.53	0.40	26,300	2,479.20	—	-907	7,069

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.