Options Analysis tracks intraday Open Interest (OI) trends for calls and puts across time intervals. It reveals when option writers are building fresh positions or unwinding existing ones, helping you gauge directional bias and potential support or resistance zones.

Call OI vs Put OI shows cumulative open interest. Rising CE OI with price rising = bullish trend with conviction. Rising PE OI with price falling = bearish trend with conviction. Divergence between OI and price warns of potential reversal. Compare the gap between CE and PE lines to assess which side dominates.

Change OI shows intraday OI additions or reductions, revealing real-time positioning shifts. Total OI is cumulative and slow-moving. Change OI highlights active buildup or unwinding right now. Sudden spikes in Change OI often precede sharp price moves as new sellers or buyers enter.

1 Minute: For scalping and catching immediate OI shifts. 5 Minutes: Balanced view for most intraday trades, filters noise while staying responsive. 15 Minutes: For swing entries and confirming short-term trends. 30 Minutes or 1 Hour: For positional context and end-of-day review.

PCR is Put OI divided by Call OI. PCR above 1.2 indicates bearish sentiment or strong support below spot (more put writers). PCR below 0.8 indicates bullish sentiment or resistance above spot (more call writers). PCR between 0.8-1.2 is neutral. Watch for PCR trending up during a rally: healthy sign of put support building.

Max Pain is the strike where most option holders lose money at expiry. It acts as a magnet, especially 2-3 days before expiry. Spot above Max Pain often faces downward pull. Spot below Max Pain often sees upward drift. Early in the series, Max Pain has less predictive power. Use it mainly during expiry week.

Volume is contracts traded during the session, showing immediate activity. OI is open positions held overnight, showing writer commitment. High volume + rising OI = fresh buildup (new positions). High volume + falling OI = unwinding (position closures). Low volume + rising OI = carry-forward without active trading.

Trend continuation: OI rising in direction of trend (CE OI up + price up, or PE OI up + price down), volume supporting the move, PCR stable or improving. Reversal signals: OI diverging from price, sharp unwinding at key strikes, PCR flipping suddenly, Max Pain pulling price back. Always combine OI analysis with price action.