How to read the DIXON 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.
- Delta is how much an option moves for a 1-point move in DIXON: calls run from 0 to 1, puts from 0 to −1, and ATM options are near ±0.5. Tick Show all Greeks for gamma, theta (value lost per day) and vega (change for 1 point of IV).
- The highlighted row is the ATM strike, the one closest to the current price.
Frequently asked questions
What is PCR in the DIXON 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 DIXON?
Max pain is the strike at which option buyers, calls and puts together, would lose the most money if DIXON 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.
What do delta, gamma, theta and vega mean?
Delta is how much the option price moves for a 1-point move in DIXON. Gamma is how fast delta changes. Theta is the value an option loses per day if nothing else changes. Vega is how much the option price changes when IV moves by 1 point. All are calculated from each option's IV.
Option chains for other symbols
Stock Options
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