IOC options
Indian Oil option chain and implied move
| Metric | Value | Read |
|---|---|---|
| Market-implied move | ±₹2.28 | ±1.77% to the Tuesday, 27 October 2026 expiry, from the at-the-money straddle |
| Implied range | ₹126.81 – ₹131.37 | What option prices imply, not a forecast of where the stock will trade |
| Max pain | ₹133 | The strike at which the largest value of written options would expire worthless |
| Heaviest put strike | ₹160 | 32,22,375 contracts — the largest put position on the chain |
| Heaviest call strike | ₹135 | 48,06,750 contracts — the largest call position on the chain |
| Put-call ratio | 0.79 | Total put open interest divided by total call open interest across the chain |
| Implied volatility (ATM) | 21.48% | At-the-money implied volatility for the front expiry |
- Market-implied move
- ±₹2.28
- Implied range
- ₹127 – ₹131
- Max pain
- ₹133
- Implied volatility
- 21.48%
±1.77% over 4 days, from the ₹129 straddle
What option prices imply, not a forecast of where the stock will trade
₹3 above the close
At the money, for the front expiry
Implied rangeMax painLast close
Heaviest put ₹160Heaviest call ₹135ATM ₹129 · PCR 0.79
At the close on Friday, 23 October 2026, Indian Oil options were pricing a move of ±₹2.28 by the Tuesday, 27 October 2026 expiry — a range of ₹126.81 to ₹131.37 against a closing price of ₹129.09. The figure is the at-the-money straddle at the ₹129 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 ₹133, ₹3.41 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 ₹160 with 32,22,375 contracts, and the heaviest call position at ₹135 with 48,06,750 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 21.48% for the Tuesday, 27 October 2026 expiry. Realised volatility for Indian Oil is not yet available for comparison.
This page is a record of where Indian Oil'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 Indian Oil options pricing this expiry?
- ±₹2.28, or 1.77%, giving a range of ₹126.81 to ₹131.37 by Tuesday, 27 October 2026. The figure is derived from the at-the-money straddle at the ₹129 strike.
- What is Indian Oil's max pain?
- ₹133 at the last close, against a closing price of ₹129.09. Max pain is the strike at which the largest value of written options would expire worthless.
- Where is support and resistance in the Indian Oil option chain?
- The largest put position sits at ₹160 with 32,22,375 contracts, and the largest call position at ₹135 with 48,06,750 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 Indian Oil options?
- 4,875 shares per lot, with strikes in steps of ₹1. At the implied move of ±₹2.28, one lot corresponds to ±₹11,115 of notional movement.