Sensex Option Chain
Sensex Option Chain Analysis Today
| Metric | Value | Read |
|---|---|---|
| PCR (Put-Call Ratio) | 1.1561 | Neutral |
| Max Pain | 73600 | Pinning likely |
| OI Support | 71000 | Support strengthening |
| OI Resistance | 73500 | Resistance strengthening |
| ATM IV | 17.37 | Not available |
| India VIX | 15.76 | Elevated premium |
As of Friday, 23 October 2026, Sensex's option chain reads a Put-Call Ratio of 1.1561 — neutral. PCR compares outstanding put contracts to call contracts across all strikes; a high ratio means more puts are written relative to calls, which MarketCue's AI-Agentic platform reads as a contrarian bullish signal since heavy put-writing usually reflects sellers betting the market won't fall to that strike, rather than traders expecting a decline.
Max Pain for Sensex currently sits at 73600, against a previous close of 73558.61. Max Pain is the strike at which option writers as a group would lose the least money at expiry — price tends to gravitate toward this level as expiry approaches because writers (who collectively hold more capital at risk than buyers) have an incentive to defend it. The distance between spot and Max Pain is read as a directional pull: pinning likely.
Open interest structure at the key support (71000) and resistance (73500) strikes rounds out the picture. Whether OI is being added or unwound at these levels — tracked day-over-day — signals whether large positions are defending that level or abandoning it. Support with fresh Addition suggests the floor is being reinforced; Unwinding at resistance suggests sellers are losing conviction, a breakout signal. Every one of these bands is documented in full on MarketCue's rules page, so this read is reproducible, not a discretionary call.
Read the full MarketCue scoring methodology
Source: NSE option chain. .
Frequently asked questions
- What does the Sensex option chain tell you?
- The Sensex option chain shows how much open interest (outstanding contracts) sits at each strike price for calls and puts. Reading it together — Put-Call Ratio, Max Pain, and where OI is being added or unwound at key strikes — gives a picture of where large positions expect Sensex to gravitate or struggle near expiry.
- What is a good PCR for Sensex?
- The same bands MarketCue uses for Nifty apply to Sensex: a Put-Call Ratio above 1.30 reads as oversold / bullish, 0.80–1.30 is neutral, and below 0.80 reads as overbought / bearish.
- How is Sensex Max Pain calculated?
- Max Pain is the strike price at which Sensex option writers as a group would lose the least money at expiry. Price often drifts toward this level as expiry approaches — MarketCue reads more than 0.3% above Max Pain as a downward pull, more than 0.3% below as an upward pull, and within ±0.3% as pinning.