How to read the BANKNIFTY option chain
- Open interest (OI) is the number of contracts still open at each strike. Large call OI often acts as resistance and large put OI as support.
- PCR above 1 means more puts than calls are open (often read as supportive); below 0.7 is often read as bearish.
- IV is the volatility priced into each option. Higher IV means more expensive options.
- The highlighted row is the ATM strike, the one closest to the current price.
Frequently asked questions
What is PCR in the BANKNIFTY option chain?
PCR (put-call ratio) is total put open interest divided by total call open interest for the strikes shown. Above 1 means more puts are open than calls.
What is max pain for BANKNIFTY?
Max pain is the strike at which option buyers, calls and puts together, would lose the most money if BANKNIFTY expired there. It is calculated from the open interest shown.
How is IV calculated?
Implied volatility is worked out from each option's last price using the Black-Scholes model, the current spot price and the time left to expiry.