BANK NIFTY Option Chain

Q: How is PCR calculated?

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

Expiry:

Spot Price

55,284.15

Put/Call Ratio (PCR)

0.96

Bearish bias

Max Pain

55,500

expiry magnet

Key Support

55,000

highest PE OI

Key Resistance

56,000

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)
599	+0	—	7,920.00	47,000	7.35	30.15	+107	5,306
0	+0	—	0.00	47,500	7.95	28.81	+29	1,965
596	+0	—	7,150.00	48,000	9.95	27.83	+119	10,638
51	+0	40.66	0.00	48,500	12.30	26.76	+185	1,483
46	+0	—	0.00	49,000	15.10	25.74	-114	4,788
0	+0	—	0.00	49,200	17.25	25.44	+8	152
0	+0	—	0.00	49,300	16.70	24.95	-4	133
0	+0	—	0.00	49,400	17.25	24.73	-24	242
4	+0	34.25	0.00	49,500	17.95	24.52	+243	4,298
0	+0	—	0.00	49,600	21.15	24.41	+102	201
0	+0	—	0.00	49,700	22.00	24.46	+8	121
0	+0	—	0.00	49,800	20.85	23.99	-6	166
0	+0	—	0.00	49,900	22.40	23.81	-6	170
3,978	-135	—	5,425.00	50,000	22.80	23.55	-60	18,251
0	+0	—	0.00	50,100	24.00	23.38	+23	107
0	+0	—	0.00	50,200	25.30	23.24	-16	1,073
0	+0	—	0.00	50,300	26.80	23.05	+143	270
0	+0	—	0.00	50,400	28.00	22.81	+595	794
4	+0	—	0.00	50,500	28.95	22.48	+877	7,520
0	+0	—	0.00	50,600	30.15	22.37	+22	467
0	+0	—	0.00	50,700	32.95	22.10	-110	263
0	+0	—	0.00	50,800	34.80	21.94	+9	1,360
0	+0	—	0.00	50,900	36.80	21.72	+8	322
710	-7	—	4,459.15	51,000	37.85	21.54	-976	13,819
0	+0	—	0.00	51,100	39.75	21.38	-24	710
0	+0	—	0.00	51,200	42.00	21.08	+12	635
0	+0	—	0.00	51,300	44.45	21.05	+246	673
0	+0	—	0.00	51,400	46.45	20.80	+50	495
60	+8	—	3,900.00	51,500	50.00	20.60	+106	7,068
2	+0	—	0.00	51,600	53.15	20.52	+161	1,737
0	+0	—	0.00	51,700	56.35	20.36	+229	968
1	+0	28.16	0.00	51,800	60.55	20.07	-25	720
0	+0	—	0.00	51,900	64.70	19.98	+25	444
1,269	-41	—	3,505.00	52,000	68.45	19.75	-2,148	22,080
0	+0	—	0.00	52,100	72.50	19.66	+144	1,458
0	+0	—	0.00	52,200	75.50	19.39	-880	936
22	+0	—	0.00	52,300	80.80	19.28	+331	1,132
0	+0	—	0.00	52,400	88.20	19.17	-25	1,118
74	+0	—	3,061.60	52,500	94.55	18.96	-395	11,216
0	+0	—	0.00	52,600	101.00	18.80	-8	2,412
36	+0	—	0.00	52,700	107.75	18.66	+35	1,049
10	+0	—	2,376.00	52,800	115.45	18.52	-411	2,032
9	+0	—	0.00	52,900	124.55	18.41	-73	716
2,201	+44	13.59	2,600.00	53,000	132.85	18.23	-1,004	17,540
25	-1	12.45	2,428.45	53,100	143.00	18.15	+107	814
64	-3	11.73	2,369.15	53,200	151.95	17.94	+243	2,040
77	+0	5.93	0.00	53,300	163.85	17.85	-309	1,157
86	-10	14.53	2,250.00	53,400	174.05	17.72	+1,121	3,099
1,249	-76	12.98	2,131.65	53,500	189.45	17.57	+1,122	12,999
235	+1	13.08	1,984.35	53,600	201.05	17.48	+222	1,973
1,846	+1,235	13.43	2,007.00	53,700	215.15	17.35	+117	2,133
475	-39	14.52	1,910.00	53,800	232.90	17.25	+188	2,977
509	-56	14.02	1,814.40	53,900	249.95	17.13	-110	1,809
7,424	+460	14.45	1,751.15	54,000	268.15	17.03	+4,195	26,029
653	-18	13.95	1,670.10	54,100	289.10	16.92	+516	1,986
1,991	-102	14.50	1,570.15	54,200	309.35	16.84	+273	4,336
2,180	+874	14.03	1,489.20	54,300	328.00	16.70	+358	2,489
1,209	-273	14.25	1,443.20	54,400	353.30	16.60	+499	3,061
8,281	-2,274	14.10	1,353.05	54,500	381.60	16.52	+3,256	16,051
1,914	-1,059	14.35	1,288.00	54,600	407.75	16.40	-258	3,772
3,341	-1,628	14.22	1,206.30	54,700	436.00	16.30	+477	5,837
3,803	-2,365	14.09	1,145.20	54,800	465.15	16.23	+2,066	6,708
4,522	-1,086	14.07	1,073.95	54,900	499.90	16.16	+2,187	6,176
32,971	-5,985	14.04	1,006.20	55,000	533.95	16.09	+8,947	44,442
4,724	+1,012	13.99	945.00	55,100	571.35	16.00	+3,288	6,751
7,325	+1,715	14.00	888.15	55,200	607.35	15.92	+4,782	8,953
7,747	+2,653	13.95	830.10	55,300	647.00	15.85	+4,757	8,032
4,616	+1,412	13.89	770.00	55,400	686.90	15.72	+3,339	5,332
24,768	+2,716	13.82	715.15	55,500	735.40	15.69	+5,258	20,451
3,985	+164	13.73	658.45	55,600	780.95	15.63	+489	1,467
4,469	-485	13.73	612.00	55,700	831.90	15.64	+42	1,306
5,323	-998	13.62	563.90	55,800	882.55	15.47	-539	1,933
3,225	-564	13.53	520.40	55,900	936.25	15.67	+253	1,524
40,489	-953	13.48	473.70	56,000	990.20	15.50	+619	22,217
1,731	-38	13.45	433.25	56,100	1,053.90	15.95	+109	485
4,055	+803	13.38	397.25	56,200	1,098.90	15.47	+22	621
2,520	+273	13.36	360.00	56,300	1,176.00	15.70	-5	585
3,333	+290	13.31	323.55	56,400	1,248.00	15.99	+29	2,774
29,036	+1,010	13.23	293.35	56,500	1,312.10	15.61	-279	11,685
3,306	-196	13.19	266.90	56,600	1,394.30	17.87	-7	588
5,237	-229	13.20	238.80	56,700	1,482.35	15.89	-1	319
5,742	-1,151	13.17	214.00	56,800	1,680.00	18.02	-6	365
2,280	-27	13.12	191.70	56,900	1,714.70	17.08	+1	492
37,041	-733	13.10	170.55	57,000	1,689.35	15.87	-340	12,963
2,889	-96	13.12	152.60	57,100	1,820.00	15.81	-1	603
3,533	+599	13.11	138.15	57,200	1,900.00	15.81	-3	328
2,504	+75	13.13	122.05	57,300	2,060.95	18.11	-4	336
2,134	+50	13.14	108.40	57,400	0.00	—	+0	123
23,840	+543	13.14	97.65	57,500	2,124.75	17.54	+24	11,783
2,823	+208	13.15	87.00	57,600	0.00	25.37	+0	155
3,718	+170	13.19	78.20	57,700	2,450.00	20.08	+0	91
2,880	+416	13.25	68.05	57,800	0.00	—	+0	112
2,126	+150	13.32	60.55	57,900	2,500.00	18.62	+0	110
39,162	-1,070	13.33	54.20	58,000	2,567.15	17.75	-1,769	28,160
1,992	+199	13.45	49.70	58,100	0.00	—	+0	50
1,960	-812	13.56	44.65	58,200	0.00	15.10	+0	92
2,173	+81	13.61	39.40	58,300	0.00	26.22	+0	151
0	+0	—	0.00	58,400	3,098.85	22.19	-1	42
13,585	+118	13.82	32.60	58,500	3,175.20	21.87	-7	2,802
1,471	+120	13.98	29.95	58,600	3,331.65	24.30	-1	56
0	+0	—	0.00	58,700	3,462.30	25.81	-1	166
486	+27	14.18	25.70	58,800	0.00	—	+0	42
1,341	-13	14.27	23.25	58,900	0.00	—	+0	121
20,260	+337	14.45	20.95	59,000	3,534.00	21.16	-129	6,229
0	+0	—	0.00	59,100	0.00	—	+0	15
1,146	+82	14.77	17.55	59,200	0.00	—	+0	10
0	+0	—	0.00	59,300	0.00	—	+0	9
103	+103	15.16	16.25	59,400	0.00	—	+0	4
8,844	-222	15.27	14.75	59,500	4,050.00	27.62	-5	393
303	-52	15.37	13.15	59,600	0.00	25.80	+0	8
272	-42	15.66	13.05	59,700	0.00	16.68	+0	6
136	-43	15.82	12.30	59,800	0.00	16.53	+0	5
169	-45	16.06	11.95	59,900	0.00	29.28	+0	5
28,067	+346	16.20	11.40	60,000	4,493.40	24.45	-115	8,953
158	+49	16.37	10.75	60,100	0.00	15.59	+0	5
82	+3	16.51	10.35	60,200	0.00	15.63	+0	3
75	+0	16.52	8.75	60,300	0.00	—	+0	3
44	-6	16.81	8.75	60,400	0.00	—	+0	0
2,631	+51	17.05	8.85	60,500	5,132.60	29.34	-6	304
71	-5	17.35	8.65	60,600	0.00	—	+0	0
60	+13	17.45	8.00	60,700	0.00	—	+0	0
108	-2	17.61	7.60	60,800	0.00	—	+0	0
332	+15	18.01	8.00	60,900	0.00	—	+0	0
10,679	-603	18.25	7.95	61,000	5,501.00	30.60	-7	1,841
1,644	-13	18.42	7.55	61,100	0.00	—	+0	0
88	+2	18.52	7.00	61,200	0.00	—	+0	0
24	-1	18.72	6.80	61,300	0.00	—	+0	0
32	+0	20.44	0.00	61,400	0.00	—	+0	0
1,475	-37	19.15	6.50	61,500	0.00	—	+0	149
99	+0	21.11	0.00	61,600	0.00	—	+0	0
31	+0	21.21	0.00	61,700	0.00	—	+0	0
36	+0	19.92	0.00	61,800	0.00	—	+0	0
14	+0	20.12	0.00	61,900	0.00	—	+0	0
7,046	-2	20.39	6.25	62,000	6,550.00	32.71	-49	2,128
11	-1	19.92	4.60	62,100	0.00	—	+0	0
29	+0	21.15	0.00	62,200	0.00	—	+0	0
16	+0	20.81	0.00	62,300	0.00	—	+0	0
26	+1	21.18	4.60	62,400	0.00	—	+0	0
490	-3	21.04	4.85	62,500	0.00	—	+0	13
13	+0	22.72	0.00	62,600	0.00	—	+0	0
41	+0	21.46	0.00	62,700	0.00	—	+0	0
14	+0	23.16	0.00	62,800	0.00	—	+0	0
17	+0	23.43	0.00	62,900	0.00	—	+0	0
5,982	-9	21.76	4.00	63,000	7,600.00	37.85	-2	2,052
20	+0	22.47	0.00	63,100	0.00	—	+0	0
12	+0	23.45	0.00	63,200	0.00	—	+0	0
14	+0	21.11	0.00	63,300	0.00	—	+0	0
42	+19	23.24	4.80	63,400	0.00	—	+0	0
83	+0	22.61	3.35	63,500	0.00	—	+0	6
16	-1	22.62	3.05	63,600	0.00	—	+0	0
181	+0	23.47	3.95	63,700	0.00	—	+0	0
125	-8	23.27	3.30	63,800	0.00	—	+0	0
50	-3	23.20	2.90	63,900	0.00	—	+0	0
4,905	+0	22.91	2.30	64,000	8,600.00	41.71	+0	114
1,415	-3	23.66	2.00	64,500	0.00	—	+0	48
7,342	-6	24.31	1.60	65,000	9,523.25	44.63	-14	2,907
1,393	+0	25.22	1.50	65,500	0.00	60.60	+0	124

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 Bank Nifty Option Chain

A comprehensive guide to analyzing derivatives data for the banking sector.

What is the Bank Nifty Option Chain?

The Bank Nifty option chain is a tabular representation of all available options contracts (Calls and Puts) for the NIFTY BANK index. It is one of the most actively traded derivative instruments in the world. The chain displays critical data points like strike prices, premiums (LTP), implied volatility (IV), and Open Interest (OI). Traders rely on this data to gauge market sentiment specifically for the Indian banking sector and to identify key support and resistance levels.

Key Indicators for Bank Nifty

Due to the high beta (volatility) of the banking sector, analyzing the Bank Nifty option chain requires close attention to rapid shifts in these metrics:

Open Interest (OI): The total number of outstanding contracts. High OI at a specific strike price indicates strong conviction among traders.
Support and Resistance: The strike with the highest Call OI acts as a strong resistance (hurdle for up-moves), while the highest Put OI acts as a strong support (cushion for down-moves).
Put/Call Ratio (PCR): Calculated by dividing total Put OI by total Call OI. A PCR above 1 suggests a bullish bias, while a PCR below 1 indicates bearishness. For Bank Nifty, PCR can change violently during RBI policy announcements or major bank earnings.
Max Pain: The strike price at which option buyers lose the most money and sellers maximize profits. The index often expires near this level.
Implied Volatility (IV): Given Bank Nifty's inherent volatility, tracking IV is crucial. Spikes in IV suggest anticipated large moves, making option premiums expensive, whereas low IV suggests consolidation.

Trading Bank Nifty Options

Traders often look for anomalies in the option chain. For instance, if Bank Nifty is rallying but Call writers (sellers) are not unwinding their positions at resistance, it may indicate a "fake breakout" or a trap. Conversely, rapid "short covering" (Call OI dropping fast) often fuels massive, 500+ point intraday rallies in the Bank Nifty index.

Frequently asked questions

How often is the Bank 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.