What is Put-Call Ratio (PCR) and how do I interpret it?

PCR is the ratio of total Put Open Interest to Call Open Interest. High PCR (>1.2) indicates bullish sentiment as more puts provide support. Low PCR (<0.8) indicates bearish sentiment as more calls provide resistance. Neutral PCR (0.8-1.2) shows balanced market sentiment.

What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

How do I use PCR with price action?

Combine PCR with price for better signals. Use divergence trading when price and PCR move opposite. Look for confirmation when price and PCR align. Watch for extreme COI Strength values at support/resistance for reversal signals. Monitor sudden COI Strength shifts as they often precede intraday trend changes.

BANKEX

Q: What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

Q: What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

Q: How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

Q: What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

Bank Index

66570.12 -448.55 (-0.67%)

L: 66565.78 H: 67002.62

Put-Call Ratio - BANKEX

08 Dec 2025 11:23 AM IST

Live

Expiry

Put OI

967

Call OI

1,170

PCR

0.83

Put OI Chg

-16

Call OI Chg

89

COI PCR

-0.18

COI Strength

-1.00

Interval

On 9:20 BANKEX was trading at 66896.31 with pcr value 0.91

On 9:25 BANKEX was trading at 66925.73 with pcr value 0.9

On 9:30 BANKEX was trading at 66827.08 with pcr value 0.9

On 9:35 BANKEX was trading at 66814.97 with pcr value 0.88

On 9:40 BANKEX was trading at 66778.95 with pcr value 0.85

On 9:45 BANKEX was trading at 66805.05 with pcr value 0.84

On 9:50 BANKEX was trading at 66746.94 with pcr value 0.83

On 9:55 BANKEX was trading at 66741.98 with pcr value 0.82

On 10:00 BANKEX was trading at 66742.54 with pcr value 0.82

On 10:05 BANKEX was trading at 66684.74 with pcr value 0.82

On 10:10 BANKEX was trading at 66727.03 with pcr value 0.82

On 10:15 BANKEX was trading at 66751.2 with pcr value 0.82

On 10:20 BANKEX was trading at 66767.68 with pcr value 0.83

On 10:25 BANKEX was trading at 66818.83 with pcr value 0.83

On 10:30 BANKEX was trading at 66802.94 with pcr value 0.83

On 10:35 BANKEX was trading at 66745.76 with pcr value 0.83

On 10:40 BANKEX was trading at 66745.24 with pcr value 0.83

On 10:45 BANKEX was trading at 66759.28 with pcr value 0.83

On 10:50 BANKEX was trading at 66750.73 with pcr value 0.83

On 10:55 BANKEX was trading at 66743.51 with pcr value 0.82

On 11:00 BANKEX was trading at 66708.3 with pcr value 0.83

On 11:05 BANKEX was trading at 66657.32 with pcr value 0.81

On 11:10 BANKEX was trading at 66616.58 with pcr value 0.81

On 11:15 BANKEX was trading at 66630.98 with pcr value 0.81

On 11:20 BANKEX was trading at 66581.4 with pcr value 0.82

On 11:24 BANKEX was trading at 66611.42 with pcr value 0.83

Put-Call-Ratio Table

PCR Table Expiry

Note:- click on symbol to see more detailed view

	PCR OI			COI PCR
Symbol	Put	Call	Ratio	Put	Call	Ratio
360ONE	1,646	2,910	0.57	94	181	0.52
ABB	4,839	6,181	0.78	-24	70	-0.34
ABCAPITAL	4,303	6,540	0.66	-47	20	-2.35
ADANIENSOL	2,762	4,548	0.61	-46	113	-0.41
ADANIENT	26,718	42,901	0.62	-357	1,139	-0.31
ADANIGREEN	9,193	19,705	0.47	61	376	0.16
ADANIPORTS	9,814	17,306	0.57	329	539	0.61
ALKEM	880	1,347	0.65	59	327	0.18
AMBER	6,640	11,835	0.56	301	408	0.74
AMBUJACEM	9,792	11,541	0.85	18	39	0.46
ANGELONE	7,964	16,920	0.47	85	1,306	0.07
APLAPOLLO	1,824	2,529	0.72	191	557	0.34
APOLLOHOSP	6,502	12,785	0.51	126	477	0.26
ASHOKLEY	11,356	12,277	0.92	419	749	0.56
ASIANPAINT	17,307	21,671	0.80	-887	25	-35.48
ASTRAL	3,952	6,725	0.59	126	372	0.34
AUBANK	5,068	5,399	0.94	56	63	0.89
AUROPHARMA	4,372	8,934	0.49	50	203	0.25
AXISBANK	13,607	23,569	0.58	-108	1,299	-0.08
BAJAJ-AUTO	14,845	26,601	0.56	-209	1,816	-0.12
BAJAJFINSV	13,907	16,832	0.83	-112	1,284	-0.09
BAJFINANCE	20,551	30,023	0.68	-355	1,752	-0.20
BANDHANBNK	8,862	13,125	0.68	-21	-52	0.40
BANKBARODA	11,683	13,337	0.88	-349	469	-0.74
BANKINDIA	2,685	4,254	0.63	52	178	0.29
BDL	7,294	13,593	0.54	1,083	1,876	0.58
BEL	24,090	48,323	0.50	1,684	6,696	0.25
BHARATFORG	3,798	5,996	0.63	175	257	0.68
BHARTIARTL	17,615	33,160	0.53	-59	525	-0.11
BHEL	8,975	19,251	0.47	26	588	0.04
BIOCON	6,429	13,380	0.48	58	466	0.12
BLUESTARCO	763	1,114	0.68	-3	18	-0.17
BOSCHLTD	1,439	2,357	0.61	42	208	0.20
BPCL	4,773	7,127	0.67	92	343	0.27
BRITANNIA	4,039	6,441	0.63	32	273	0.12
BSE	15,217	21,341	0.71	1,229	622	1.98
CAMS	4,310	7,316	0.59	-26	347	-0.07
CANBK	11,546	16,088	0.72	-156	620	-0.25
CDSL	9,174	18,594	0.49	222	1,750	0.13
CGPOWER	5,145	9,217	0.56	72	154	0.47
CHOLAFIN	3,522	5,729	0.61	320	1,690	0.19
CIPLA	10,597	14,504	0.73	79	269	0.29
COALINDIA	12,599	13,293	0.95	95	274	0.35
COFORGE	9,260	17,089	0.54	89	1,646	0.05
COLPAL	6,655	8,165	0.82	19	78	0.24
CONCOR	7,220	9,404	0.77	32	139	0.23
CROMPTON	6,118	10,242	0.60	170	302	0.56
CUMMINSIND	3,225	4,402	0.73	59	282	0.21
CYIENT	2,267	2,899	0.78	-33	92	-0.36
DABUR	4,493	7,828	0.57	329	220	1.50
DALBHARAT	1,369	2,234	0.61	-19	111	-0.17
DELHIVERY	3,303	5,855	0.56	1	152	0.01
DIVISLAB	5,770	8,160	0.71	67	545	0.12
DIXON	20,655	44,367	0.47	199	1,580	0.13
DLF	14,694	22,092	0.67	996	2,904	0.34
DMART	5,302	10,053	0.53	73	285	0.26
DRREDDY	5,093	9,807	0.52	80	69	1.16
EICHERMOT	10,176	12,923	0.79	9	212	0.04
ETERNAL	15,811	29,553	0.54	921	2,784	0.33
EXIDEIND	3,879	4,771	0.81	-12	80	-0.15
FEDERALBNK	6,502	7,893	0.82	23	253	0.09
FORTIS	3,073	7,750	0.40	106	945	0.11
GAIL	13,079	19,707	0.66	13	-8	-1.63
GLENMARK	8,312	11,454	0.73	87	-15	-5.80
GMRAIRPORT	8,719	15,521	0.56	582	740	0.79
GODREJCP	2,939	4,042	0.73	-28	161	-0.17
GODREJPROP	6,617	13,043	0.51	1,206	2,176	0.55
GRASIM	8,509	9,839	0.86	239	444	0.54
HAL	25,931	48,822	0.53	1,725	2,744	0.63
HAVELLS	3,727	4,406	0.85	-4	274	-0.01
HCLTECH	11,821	17,497	0.68	351	721	0.49
HDFCAMC	4,107	5,334	0.77	60	193	0.31
HDFCBANK	39,108	59,634	0.66	1,632	1,257	1.30
HDFCLIFE	7,254	12,707	0.57	332	-98	-3.39
HEROMOTOCO	14,341	16,180	0.89	-2,089	217	-9.63
HFCL	3,922	9,150	0.43	506	1,534	0.33
HINDALCO	15,610	19,909	0.78	519	772	0.67
HINDPETRO	3,937	6,306	0.62	35	-47	-0.74
HINDUNILVR	5,879	9,520	0.62	45	293	0.15
HINDZINC	9,147	17,022	0.54	-8	249	-0.03
HUDCO	5,732	10,821	0.53	22	644	0.03
ICICIBANK	30,782	40,376	0.76	1,006	3,434	0.29
ICICIGI	2,695	3,925	0.69	30	254	0.12
ICICIPRULI	1,938	3,101	0.62	59	376	0.16
IDEA	14,602	28,066	0.52	364	355	1.03
IDFCFIRSTB	8,209	13,634	0.60	27	359	0.08
IEX	8,753	12,033	0.73	-77	91	-0.85
IIFL	2,235	3,977	0.56	19	121	0.16
INDHOTEL	5,662	8,301	0.68	91	165	0.55
INDIANB	4,304	10,206	0.42	136	356	0.38
INDIGO	47,001	63,160	0.74	20,247	24,954	0.81
INDUSINDBK	11,999	17,371	0.69	-63	-466	0.14
INDUSTOWER	8,642	13,349	0.65	-247	796	-0.31
INFY	41,282	56,993	0.72	1,422	689	2.06
INOXWIND	5,830	10,073	0.58	22	294	0.07
IOC	6,023	10,069	0.60	89	472	0.19
IRCTC	6,976	10,578	0.66	95	348	0.27
IREDA	5,055	10,408	0.49	35	587	0.06
IRFC	3,849	8,321	0.46	101	566	0.18
ITC	25,477	31,082	0.82	-277	229	-1.21
JINDALSTEL	5,312	7,826	0.68	99	170	0.58
JIOFIN	18,090	22,829	0.79	125	707	0.18
JSWENERGY	9,370	17,043	0.55	-22	1,956	-0.01
JSWSTEEL	13,105	26,012	0.50	-52	1,314	-0.04
JUBLFOOD	4,090	5,825	0.70	15	157	0.10
KALYANKJIL	4,100	7,284	0.56	143	257	0.56
KAYNES	23,063	59,758	0.39	-3,264	-5,784	0.56
KEI	1,261	2,969	0.42	54	74	0.73
KFINTECH	3,544	5,993	0.59	38	179	0.21
KOTAKBANK	15,090	16,718	0.90	129	325	0.40
KPITTECH	2,709	5,289	0.51	-60	443	-0.14
LAURUSLABS	4,871	8,690	0.56	77	250	0.31
LICHSGFIN	7,816	9,369	0.83	379	749	0.51
LICI	5,496	8,888	0.62	76	170	0.45
LODHA	4,544	9,145	0.50	196	509	0.39
LT	16,953	25,065	0.68	-30	1,264	-0.02
LTF	5,060	7,460	0.68	4	330	0.01
LTIM	4,806	5,881	0.82	100	135	0.74
LUPIN	5,023	6,808	0.74	11	234	0.05
M&M	17,079	25,301	0.68	-307	662	-0.46
MANAPPURAM	3,048	4,914	0.62	49	213	0.23
MANKIND	2,159	3,646	0.59	-69	34	-2.03
MARICO	2,964	3,862	0.77	-148	227	-0.65
MARUTI	21,272	26,849	0.79	-405	2,047	-0.20
MAXHEALTH	5,129	10,448	0.49	138	995	0.14
MAZDOCK	9,403	15,643	0.60	1,797	2,377	0.76
MCX	14,062	18,354	0.77	514	947	0.54
MFSL	2,553	4,892	0.52	197	967	0.20
MOTHERSON	5,722	8,631	0.66	-31	163	-0.19
MPHASIS	3,506	4,362	0.80	54	-10	-5.40
MUTHOOTFIN	4,317	9,564	0.45	-15	12	-1.25
NATIONALUM	5,764	7,276	0.79	354	341	1.04
NAUKRI	5,639	7,445	0.76	-77	-44	1.75
NBCC	2,916	5,842	0.50	77	380	0.20
NCC	3,136	6,989	0.45	64	139	0.46
NESTLEIND	4,776	12,652	0.38	233	488	0.48
NHPC	3,015	5,747	0.52	18	58	0.31
NMDC	10,295	12,836	0.80	9	240	0.04
NTPC	13,542	18,417	0.74	-201	1,709	-0.12
NUVAMA	1,841	4,195	0.44	23	157	0.15
NYKAA	2,413	6,177	0.39	-27	399	-0.07
OBEROIRLTY	3,566	5,433	0.66	19	24	0.79
OFSS	4,051	6,688	0.61	-154	628	-0.25
OIL	2,001	3,413	0.59	-6	167	-0.04
ONGC	8,321	16,570	0.50	115	220	0.52
PAGEIND	3,392	6,680	0.51	47	380	0.12
PATANJALI	3,474	6,686	0.52	-67	519	-0.13
PAYTM	7,763	10,401	0.75	49	104	0.47
PERSISTENT	4,524	7,168	0.63	-322	532	-0.61
PETRONET	8,124	7,316	1.11	55	72	0.76
PFC	19,740	30,385	0.65	333	1,285	0.26
PGEL	7,673	12,026	0.64	783	1,001	0.78
PHOENIXLTD	1,490	2,767	0.54	-7	53	-0.13
PIDILITIND	1,751	2,353	0.74	2	48	0.04
PIIND	2,522	3,605	0.70	-16	89	-0.18
PNB	9,985	18,122	0.55	141	1,077	0.13
PNBHOUSING	3,780	4,400	0.86	34	-64	-0.53
POLICYBZR	3,768	6,052	0.62	538	1,361	0.40
POLYCAB	3,654	5,666	0.64	157	696	0.23
POWERGRID	10,280	14,454	0.71	193	137	1.41
POWERINDIA	4,755	11,146	0.43	197	1,150	0.17
PPLPHARMA	2,490	5,554	0.45	38	232	0.16
PRESTIGE	2,379	3,500	0.68	-3	244	-0.01
RBLBANK	3,911	6,814	0.57	140	645	0.22
RECLTD	20,304	28,750	0.71	482	1,919	0.25
RELIANCE	49,172	88,756	0.55	1,301	1,608	0.81
RVNL	6,379	12,919	0.49	78	399	0.20
SAIL	5,488	9,066	0.61	23	656	0.04
SAMMAANCAP	6,047	9,387	0.64	-3	-77	0.04
SBICARD	4,741	7,211	0.66	-187	-39	4.79
SBILIFE	5,008	7,078	0.71	-21	445	-0.05
SBIN	38,612	61,140	0.63	-2,888	2,336	-1.24
SHREECEM	1,244	2,280	0.55	-8	57	-0.14
SHRIRAMFIN	11,936	18,068	0.66	-376	78	-4.82
SIEMENS	5,341	12,083	0.44	147	1,824	0.08
SOLARINDS	3,407	7,062	0.48	167	346	0.48
SONACOMS	2,340	4,889	0.48	-39	37	-1.05
SRF	5,917	11,570	0.51	41	320	0.13
SUNPHARMA	5,638	12,206	0.46	-161	-821	0.20
SUPREMEIND	3,161	6,061	0.52	61	100	0.61
SUZLON	9,287	21,634	0.43	-99	370	-0.27
SYNGENE	1,602	2,465	0.65	-37	4	-9.25
TATACONSUM	4,779	8,511	0.56	9	86	0.10
TATAELXSI	4,229	8,991	0.47	195	317	0.62
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,102	25,265	0.76	639	1,306	0.49
TATASTEEL	15,438	31,139	0.50	-84	1,432	-0.06
TATATECH	4,560	6,669	0.68	244	243	1.00
TCS	39,090	46,849	0.83	352	2,074	0.17
TECHM	7,585	9,291	0.82	148	1,238	0.12
TIINDIA	2,686	4,544	0.59	79	247	0.32
TITAGARH	2,357	5,176	0.46	-26	381	-0.07
TITAN	11,063	16,720	0.66	295	457	0.65
TMPV	38,459	80,806	0.48	30	5,316	0.01
TORNTPHARM	1,108	2,188	0.51	-7	96	-0.07
TORNTPOWER	1,693	2,820	0.60	7	89	0.08
TRENT	21,499	37,671	0.57	1,463	3,631	0.40
TVSMOTOR	9,261	10,540	0.88	10	-257	-0.04
ULTRACEMCO	9,885	15,451	0.64	196	444	0.44
UNIONBANK	5,610	9,299	0.60	187	513	0.36
UNITDSPR	6,439	8,083	0.80	78	315	0.25
UNOMINDA	2,836	4,955	0.57	57	438	0.13
UPL	4,128	5,461	0.76	215	88	2.44
VBL	8,954	21,448	0.42	-120	385	-0.31
VEDL	20,188	32,117	0.63	27	1,139	0.02
VOLTAS	7,115	7,496	0.95	-44	299	-0.15
WIPRO	11,332	12,791	0.89	779	499	1.56
YESBANK	5,819	11,336	0.51	142	741	0.19
ZYDUSLIFE	3,137	3,808	0.82	5	-6	-0.83

Understanding PCR & COI Metrics

PCR (Put-Call Ratio)

PCR = Put OI / Call OI

> 1.2

Bullish

More puts than calls, potential support

0.8 - 1.2

Neutral

Balanced market sentiment

< 0.8

Bearish

More calls than puts, potential resistance

COI Strength

COI Strength = (PE COI - CE COI) / (|PE| + |CE|)

> 0.3

Bullish

Strong put buildup dominance

-0.3 to 0.3

Neutral

Balanced intraday activity

< -0.3

Bearish

Strong call buildup dominance

Frequently Asked Questions

PCR is the ratio of total Put Open Interest to Call Open Interest. It's a contrarian indicator of market sentiment:

High PCR (>1.2): More traders are holding puts, expecting a decline. However, this often acts as support (bullish) as market makers hedge by buying the underlying.
Low PCR (<0.8): More traders are holding calls, expecting a rise. This often acts as resistance (bearish) as market makers hedge by selling the underlying.
Neutral PCR (0.8-1.2): Balanced sentiment with no strong directional bias.

Remember: PCR is contrarian - extreme readings often signal reversals rather than continuation.

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change, making it more responsive than total OI PCR.

Key Differences:

Regular PCR: Uses total accumulated Open Interest. Shows overall market positioning but changes slowly.
COI PCR: Uses only today's OI changes. Captures fresh positioning and provides timely intraday signals.

Use Case: COI PCR helps identify intraday sentiment shifts before they reflect in total PCR, making it valuable for day traders and short-term positions.

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|)

This normalized indicator measures the directional bias of intraday Open Interest changes on a scale from -1 to +1:

> 0.3 (Bullish): Put side dominance - fresh put writing or buying suggests bullish positioning.
-0.3 to 0.3 (Neutral): Balanced activity on both sides - no clear directional conviction.
< -0.3 (Bearish): Call side dominance - fresh call writing or buying suggests bearish positioning.

Advantages over PCR:

Normalized scale (-1 to +1) makes comparison across symbols easier
Not affected by extreme ratios when one side is very small
Clearly shows which side has stronger intraday momentum

PCR data updates based on the selected interval:

1 Minute Interval: Updates every minute during market hours, providing real-time intraday tracking.
1 Day Interval: Shows end-of-day PCR values for historical analysis and trend identification.

Note: OI data comes from the exchange and may have a slight delay. Premium users get access to faster refresh rates and more granular intervals.

Negative PCR occurs when Call OI Change is negative (unwinding) while Put OI Change is also negative, or vice versa.

Common Scenarios:

PE > 0, CE < 0: Puts building, Calls unwinding → Strong bullish signal
PE < 0, CE > 0: Puts unwinding, Calls building → Strong bearish signal
Both negative: Both sides unwinding → Low conviction, neutral to ranging market

Tip: When PCR becomes negative or very large, use COI Strength instead - it handles these edge cases better and provides clearer directional signals.

Best Practices for Combining PCR with Price:

Divergence Trading: If price is falling but COI PCR shows put buildup (>1.2), it may signal a bounce. If price is rising but COI PCR shows call buildup (<0.8), it may signal resistance.
Confirmation: Use PCR to confirm price trends. Rising prices with increasing calls or falling prices with increasing puts suggests trend continuation.
Extremes: Very high COI Strength (>0.6 or <-0.6) combined with price at support/resistance can signal strong reversals.
Intraday Pivots: Watch for sudden COI Strength shifts (e.g., from +0.5 to -0.3) as they often precede intraday trend changes.

Remember: PCR is a sentiment indicator, not a timing tool. Always combine with technical analysis, support/resistance levels, and risk management.

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