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Nifty PCR and max pain today

For the Nifty expiry of Tuesday 13 October 2026, the put-call ratio by open interest was 1.28 at the close on 9 October 2026: 128 puts open for every 100 calls. Max pain sat at 22,500, with the most call open interest at 23,000 and the most put open interest at 22,500. Nifty closed at 22,520.45.

Latest: 9 October 2026 · expiry 13 October 2026 · source: NSE F&O bhavcopy

Put-call ratio (OI)
1.28
32.02 lakh puts ÷ 25.06 lakh calls, in contracts
Max pain
22,500
−0.09% from Nifty's close
Call wall
23,000
most call open interest above Nifty
Put wall
22,500
most put open interest below Nifty

Open interest by strike

Call (above) and put (below) open interest by strike, expiry 13 Oct 202621,80022,05022,30022,55022,80023,050Nifty 22,520CallsPuts
Call (above) and put (below) open interest by strike, expiry 13 Oct 2026
Contracts, the strikes nearest Nifty's close of 22,520.45
StrikeCall OIChange todayPut OIChange today
22,1005,367−4,89193,390+33,001
22,1503,274−3,51953,082+21,180
22,20016,949−33,2811.33 lakh+34,065
22,25010,552−39,69770,059+35,694
22,30028,880−72,5061.75 lakh+91,154
22,35015,759−33,24678,732+60,587
22,40042,602−1,21,7031.65 lakh+1,19,518
22,45026,562−32,14681,169+63,031
22,5001.47 lakh−46,0821.98 lakh+1,53,132
22,55058,256−14,82260,722+49,013
22,6001.14 lakh−49,40262,031+20,315
22,65055,734−28,90820,850+9,813
22,7001.39 lakh−53,42544,415+293
22,75063,971−19,2888,518+1,987
22,8001.28 lakh−32,98915,647−1,713
22,85059,303−12,4172,673−60
22,9001.47 lakh+35,2498,205−1,970

This expiry, day by day

DateNiftyPCRMax painPut wallCall wall
9 Oct 202622,520.451.2822,50022,50023,000
8 Oct 202622,231.800.6222,40022,00023,000
7 Oct 202622,603.050.8122,65022,00023,000
6 Oct 202622,776.101.1322,70022,70023,500
5 Oct 202622,555.751.0022,65021,50023,000
1 Oct 202622,421.950.6522,70022,00024,000
30 Sep 202622,620.450.7522,80022,00023,000
29 Sep 202622,716.200.7622,80022,70023,500
28 Sep 202622,780.250.6423,00022,50023,500
25 Sep 202623,140.500.7423,25022,70024,000
24 Sep 202623,063.100.7623,30022,50024,000
23 Sep 202623,446.800.9423,50022,70024,000
22 Sep 202623,329.000.8223,50022,50024,000
21 Sep 202623,414.300.7423,50022,70024,200
18 Sep 202623,346.400.7423,45022,50024,200

The monthly expiry (27 Oct 2026)

Put-call ratio (OI)
0.97
97 puts for every 100 calls
Max pain
23,000
the strike where option buyers lose most
Call wall
23,500
most call open interest above Nifty
Put wall
22,000
most put open interest below Nifty

How to read it

The put-call ratio divides the open interest in puts by the open interest in calls for one expiry. Above 1, more puts are open than calls.

Open interest counts contracts, not who is on which side: every contract has a buyer and a seller. Desks that write options read the chain from the seller's side. A strike with heavy call open interest is a level sellers expect Nifty to stay below; one with heavy put open interest is a level they expect it to stay above. Read that way, a high put-call ratio means more support has been sold than resistance.

Max pain is the level at which, if Nifty expired there, option buyers as a group would lose the most and sellers pay out the least. It is worked out by adding up what every open contract would be worth at each strike and picking the smallest total.

These are end-of-day figures from NSE's bhavcopy, not a live chain: they show where positions stood at the close.

Questions people ask

What is Nifty PCR today?

At the close on 9 October 2026 the put-call ratio by open interest was 1.28 for the expiry of 13 October 2026.

Is a high PCR bullish or bearish?

It depends on whose side you read. Option sellers treat heavy put open interest as support, so they read a high PCR as supportive. Others read heavy put buying as fear. History, not the rule of thumb, should settle it.

What is max pain in options?

The expiry price at which the total value of all open options is smallest: buyers lose the most and sellers pay out the least.

What is Nifty max pain today?

22,500 for the expiry of 13 October 2026, from open interest at the close on 9 October 2026.

Does Nifty move to max pain by expiry?

Often less than the theory suggests. Schema tested it across hundreds of expiries: does max pain work?

Is this live option chain data?

No. It is end-of-day data from NSE's F&O bhavcopy, updated each trading evening. For a live chain during market hours use NSE's own option chain or your broker's.

Keep reading

PCR and max pain, explainedWhat each measures and how option sellers read themFII and DII dataWhat foreign and domestic institutions bought and sold in the cash marketFII long-short ratioForeign investors' positions in index futures, with retail's beside themIndia VIXThe volatility index, and what its level implies for Nifty in points

End-of-day figures from NSE's published files, with Aurevian's arithmetic where stated. Research and information, not investment advice.