BANKNIFTY options · put-call ratio
Bank Nifty PCR Today (Put-Call Ratio)
The Bank Nifty open-interest PCR for the 27 Oct 2026 expiry is 0.88: balanced.
Data as of 21 Oct 2026 EOD, NSE F&O bhavcopy
- PCR (open interest)
- 0.88
- 27 Oct expiry
- Previous session
- 0.96
- Change -0.07
- Reading
- Balanced
- Max pain
- 55,500
- Spot 54,976.90
How to read today's Bank Nifty PCR
Call and put open interest are broadly matched. Positioning does not lean strongly either way.
Bank Nifty PCR history
PCR trend, last 20 sessions
Dashed line: PCR 1.0
| Date | PCR | Spot | Max pain |
|---|---|---|---|
| 21 Oct 2026 | 0.83 | 54,976.90 | 57,000 |
| 19 Oct 2026 | 0.96 | 55,488.10 | 55,600 |
| 16 Oct 2026 | 1.06 | 55,844 | 55,800 |
| 15 Oct 2026 | 1.08 | 55,810.50 | 55,800 |
| 14 Oct 2026 | 0.98 | 55,316 | 55,500 |
| 13 Oct 2026 | 1.07 | 55,481.05 | 55,600 |
| 12 Oct 2026 | 0.90 | 54,918 | 55,500 |
| 9 Oct 2026 | 0.98 | 55,256.65 | 55,700 |
| 8 Oct 2026 | 0.87 | 54,515.05 | 55,500 |
| 7 Oct 2026 | 0.92 | 55,055.55 | 55,900 |
| 6 Oct 2026 | 0.91 | 55,128.40 | 56,000 |
| 5 Oct 2026 | 0.87 | 54,714.10 | 56,000 |
| 1 Oct 2026 | 0.87 | 54,450.75 | 56,000 |
| 30 Sept 2026 | 0.88 | 54,633.05 | 56,000 |
| 29 Sept 2026 | 0.87 | 54,259.95 | 56,000 |
| 28 Sept 2026 | 0.84 | 54,471.65 | 56,500 |
| 25 Sept 2026 | 0.84 | 55,580.40 | 57,000 |
| 24 Sept 2026 | 0.81 | 55,438.50 | 57,000 |
| 23 Sept 2026 | 0.83 | 56,548.90 | 57,500 |
| 22 Sept 2026 | 0.92 | 56,215.55 | 57,000 |
Bank Nifty PCR by expiry
| Expiry | PCR | Max pain |
|---|---|---|
| 27 Oct 2026 | 0.88 | 55,500 |
| 23 Nov 2026 | 0.83 | 57,000 |
| 29 Dec 2026 | 1.33 | 57,000 |
| 30 Mar 2027 | 0.69 | 57,000 |
What is the put-call ratio?
The put-call ratio (PCR) compares open interest in put options with open interest in call options: PCR = total put OI ÷ total call OI. A PCR of 1.2 means 1.2 puts are open for every call.
On NSE most index option open interest is held short by writers, so traders in India usually read the PCR from the writer's side: heavy put writing suggests support, heavy call writing suggests resistance. That makes a high PCR mildly bullish and a low PCR mildly bearish, with extremes at either end acting as contrarian warnings.
PCR works best with levels. Check where the largest put and call strikes sit on the Bank Nifty max pain page and whether dealers are long or short gamma on the Bank Nifty gamma exposure page.
More Bank Nifty options data
- Bank Nifty max pain · The strike where option writers lose the least at expiry.
- Bank Nifty gamma exposure · Dealer gamma in ₹ crore per 1% move, gamma flip and walls.
- Bank Nifty expected move · The ATM straddle-implied move to expiry and ATM IV.
- All market data
PCR for other symbols
Frequently asked questions
- What is Bank Nifty PCR?
- The put-call ratio divides total open interest in Bank Nifty puts by total open interest in Bank Nifty calls for an expiry. TradeLens uses open interest, not volume, so the ratio reflects positions that are still open.
- Is a high PCR bullish or bearish?
- In Indian index options most open interest is written (sold). A PCR above 1 means more puts have been written, which traders usually read as support below and a mildly bullish lean. Very high readings can also signal an overcrowded, stretched market.
- What is a normal PCR for Nifty?
- Nifty OI PCR typically moves between about 0.7 and 1.3. Readings outside that band are worth noting, but the change in PCR over several sessions is usually more informative than a single value.
- What is the difference between OI PCR and volume PCR?
- Volume PCR counts contracts traded today and is noisy. OI PCR counts contracts still open at the close, so it reflects positioning carried overnight.
- How often is the PCR updated?
- This page updates every trading day after the NSE F&O bhavcopy, around 17:00 to 19:00 IST. Core subscribers see intraday updates every 15 minutes.
Positioning data, not investment advice. Trading in derivatives involves substantial risk of loss.