BHEL options
BHEL option chain and implied move
| Metric | Value | Read |
|---|---|---|
| Market-implied move | ±₹9.55 | ±2.46% to the Tuesday, 27 October 2026 expiry, from the at-the-money straddle |
| Implied range | ₹377.95 – ₹397.05 | What option prices imply, not a forecast of where the stock will trade |
| Max pain | ₹425 | The strike at which the largest value of written options would expire worthless |
| Heaviest put strike | ₹440 | 35,54,250 contracts — the largest put position on the chain |
| Heaviest call strike | ₹450 | 73,89,375 contracts — the largest call position on the chain |
| Put-call ratio | 0.52 | Total put open interest divided by total call open interest across the chain |
| Implied volatility (ATM) | 28.81% | At-the-money implied volatility for the front expiry |
- Market-implied move
- ±₹9.55
- Implied range
- ₹378 – ₹397
- Max pain
- ₹425
- Implied volatility
- 28.81%
±2.46% over 4 days, from the ₹390 straddle
What option prices imply, not a forecast of where the stock will trade
₹38 above the close
At the money, for the front expiry
Implied rangeMax painLast close
Heaviest put ₹440Heaviest call ₹450ATM ₹390 · PCR 0.52
At the close on Friday, 23 October 2026, BHEL options were pricing a move of ±₹9.55 by the Tuesday, 27 October 2026 expiry — a range of ₹377.95 to ₹397.05 against a closing price of ₹387.50. The figure is the at-the-money straddle at the ₹390 strike, which is what the options market itself is charging for the move to expiry. It describes the price of that expectation, not a forecast MarketCue makes.
Max pain sits at ₹425, ₹37.50 above the closing price — the strike at which the largest value of written options would expire worthless. The heaviest put position on the chain is at ₹440 with 35,54,250 contracts, and the heaviest call position at ₹450 with 73,89,375 contracts. Open interest describes where positions have been built; it is not a commitment by anyone to defend a price.
At-the-money implied volatility was 28.81% for the Tuesday, 27 October 2026 expiry. Realised volatility for BHEL is not yet available for comparison.
This page is a record of where BHEL's chain finished on Friday, 23 October 2026, not a live feed — the next reading follows tomorrow's close. Figures are derived from the NSE option chain via Upstox; max pain, the implied move, put-call ratio and the volatility comparison are MarketCue's own calculations from that data. MarketCue is not a registered investment adviser, research analyst or broker under SEBI regulations, and nothing here is a recommendation to buy or sell any security.
Read the full MarketCue scoring methodology
Source: NSE option chain via Upstox. .
Frequently asked questions
- What move are BHEL options pricing this expiry?
- ±₹9.55, or 2.46%, giving a range of ₹377.95 to ₹397.05 by Tuesday, 27 October 2026. The figure is derived from the at-the-money straddle at the ₹390 strike.
- What is BHEL's max pain?
- ₹425 at the last close, against a closing price of ₹387.50. Max pain is the strike at which the largest value of written options would expire worthless.
- Where is support and resistance in the BHEL option chain?
- The largest put position sits at ₹440 with 35,54,250 contracts, and the largest call position at ₹450 with 73,89,375 contracts. Traders commonly read heavy open interest at a strike as a level, though open interest describes positioning rather than any commitment to defend a price.
- What is the lot size for BHEL options?
- 2,625 shares per lot, with strikes in steps of ₹5. At the implied move of ±₹9.55, one lot corresponds to ±₹25,069 of notional movement.