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.

BANKNIFTY

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.

Nifty Bank

59238.55 -538.65 (-0.90%)

L: 59030.6 H: 59713.15

Put-Call Ratio - BANKNIFTY

08 Dec 2025 04:12 PM IST Market Closed

Expiry

Put OI

3,80,418

Call OI

4,34,000

PCR

0.88

Put OI Chg

-22,148

Call OI Chg

48,339

COI PCR

-0.46

COI Strength

-1.00

Interval

On 9:20 BANKNIFTY was trading at 59627.05 with pcr value 1.04

On 9:25 BANKNIFTY was trading at 59658 with pcr value 1.04

On 9:30 BANKNIFTY was trading at 59577.6 with pcr value 1.02

On 9:35 BANKNIFTY was trading at 59590.8 with pcr value 1.01

On 9:40 BANKNIFTY was trading at 59554.25 with pcr value 1.01

On 9:45 BANKNIFTY was trading at 59584.6 with pcr value 1

On 9:50 BANKNIFTY was trading at 59545.05 with pcr value 1

On 9:55 BANKNIFTY was trading at 59527.65 with pcr value 1

On 10:00 BANKNIFTY was trading at 59525.6 with pcr value 0.99

On 10:05 BANKNIFTY was trading at 59472.35 with pcr value 0.99

On 10:10 BANKNIFTY was trading at 59514.45 with pcr value 0.98

On 10:15 BANKNIFTY was trading at 59541.65 with pcr value 0.98

On 10:20 BANKNIFTY was trading at 59548.1 with pcr value 0.98

On 10:25 BANKNIFTY was trading at 59597.5 with pcr value 0.98

On 10:30 BANKNIFTY was trading at 59587.35 with pcr value 0.98

On 10:35 BANKNIFTY was trading at 59529.4 with pcr value 0.97

On 10:40 BANKNIFTY was trading at 59530.05 with pcr value 0.97

On 10:45 BANKNIFTY was trading at 59538.15 with pcr value 0.97

On 10:50 BANKNIFTY was trading at 59529.05 with pcr value 0.97

On 10:55 BANKNIFTY was trading at 59544.2 with pcr value 0.97

On 11:00 BANKNIFTY was trading at 59510.95 with pcr value 0.96

On 11:05 BANKNIFTY was trading at 59469.1 with pcr value 0.96

On 11:10 BANKNIFTY was trading at 59402.9 with pcr value 0.95

On 11:15 BANKNIFTY was trading at 59428.15 with pcr value 0.95

On 11:20 BANKNIFTY was trading at 59380.35 with pcr value 0.94

On 11:25 BANKNIFTY was trading at 59417.3 with pcr value 0.94

On 11:30 BANKNIFTY was trading at 59389.95 with pcr value 0.94

On 11:35 BANKNIFTY was trading at 59380.3 with pcr value 0.94

On 11:40 BANKNIFTY was trading at 59371.5 with pcr value 0.93

On 11:45 BANKNIFTY was trading at 59390.1 with pcr value 0.93

On 11:50 BANKNIFTY was trading at 59441.75 with pcr value 0.93

On 11:55 BANKNIFTY was trading at 59407.4 with pcr value 0.93

On 12:00 BANKNIFTY was trading at 59423.35 with pcr value 0.94

On 12:05 BANKNIFTY was trading at 59400.9 with pcr value 0.93

On 12:10 BANKNIFTY was trading at 59402.5 with pcr value 0.93

On 12:15 BANKNIFTY was trading at 59363.6 with pcr value 0.93

On 12:20 BANKNIFTY was trading at 59378.6 with pcr value 0.93

On 12:25 BANKNIFTY was trading at 59360.05 with pcr value 0.92

On 12:30 BANKNIFTY was trading at 59304.45 with pcr value 0.92

On 12:35 BANKNIFTY was trading at 59286.5 with pcr value 0.91

On 12:40 BANKNIFTY was trading at 59285.75 with pcr value 0.9

On 12:45 BANKNIFTY was trading at 59244.95 with pcr value 0.9

On 12:50 BANKNIFTY was trading at 59275.5 with pcr value 0.9

On 12:55 BANKNIFTY was trading at 59302.75 with pcr value 0.9

On 13:00 BANKNIFTY was trading at 59297.15 with pcr value 0.9

On 13:05 BANKNIFTY was trading at 59347.8 with pcr value 0.9

On 13:10 BANKNIFTY was trading at 59319.05 with pcr value 0.9

On 13:15 BANKNIFTY was trading at 59343.7 with pcr value 0.9

On 13:20 BANKNIFTY was trading at 59282 with pcr value 0.9

On 13:25 BANKNIFTY was trading at 59229.45 with pcr value 0.9

On 13:30 BANKNIFTY was trading at 59184.95 with pcr value 0.89

On 13:35 BANKNIFTY was trading at 59112.9 with pcr value 0.88

On 13:40 BANKNIFTY was trading at 59128.3 with pcr value 0.87

On 13:45 BANKNIFTY was trading at 59132.4 with pcr value 0.87

On 13:50 BANKNIFTY was trading at 59154.5 with pcr value 0.87

On 13:55 BANKNIFTY was trading at 59164.35 with pcr value 0.87

On 14:00 BANKNIFTY was trading at 59141.35 with pcr value 0.87

On 14:05 BANKNIFTY was trading at 59105.75 with pcr value 0.87

On 14:10 BANKNIFTY was trading at 59110.95 with pcr value 0.87

On 14:15 BANKNIFTY was trading at 59105.5 with pcr value 0.87

On 14:20 BANKNIFTY was trading at 59118.35 with pcr value 0.87

On 14:25 BANKNIFTY was trading at 59137.7 with pcr value 0.87

On 14:30 BANKNIFTY was trading at 59131.25 with pcr value 0.87

On 14:35 BANKNIFTY was trading at 59133.05 with pcr value 0.87

On 14:40 BANKNIFTY was trading at 59132.9 with pcr value 0.87

On 14:45 BANKNIFTY was trading at 59153.35 with pcr value 0.87

On 14:50 BANKNIFTY was trading at 59195.4 with pcr value 0.87

On 14:55 BANKNIFTY was trading at 59215.75 with pcr value 0.87

On 15:00 BANKNIFTY was trading at 59198.8 with pcr value 0.87

On 15:05 BANKNIFTY was trading at 59270.45 with pcr value 0.87

On 15:10 BANKNIFTY was trading at 59289.95 with pcr value 0.88

On 15:15 BANKNIFTY was trading at 59248.1 with pcr value 0.88

On 15:20 BANKNIFTY was trading at 59221.95 with pcr value 0.88

On 15:25 BANKNIFTY was trading at 59224.5 with pcr value 0.88

On 15:30 BANKNIFTY was trading at 59129.8 with pcr value 0.88

On 15:35 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 15:40 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 15:45 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 15:50 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 15:55 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 16:00 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 16:05 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 16:10 BANKNIFTY was trading at 59238.55 with pcr value 0.88

On 16:13 BANKNIFTY was trading at 59238.55 with pcr value 0.88

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	1,555	3,027	0.51	3	298	0.01
ABB	4,869	6,271	0.78	6	160	0.04
ABCAPITAL	4,242	6,480	0.65	-108	-40	2.70
ADANIENSOL	2,945	5,130	0.57	137	695	0.20
ADANIENT	26,454	43,494	0.61	-621	1,732	-0.36
ADANIGREEN	9,332	19,357	0.48	200	28	7.14
ADANIPORTS	9,580	17,543	0.55	95	776	0.12
ALKEM	889	1,240	0.72	68	220	0.31
AMBER	6,524	12,540	0.52	185	1,113	0.17
AMBUJACEM	9,677	11,802	0.82	-97	300	-0.32
ANGELONE	8,464	18,333	0.46	585	2,719	0.22
APLAPOLLO	1,805	2,256	0.80	172	284	0.61
APOLLOHOSP	6,453	13,017	0.50	77	709	0.11
ASHOKLEY	10,566	12,239	0.86	-371	711	-0.52
ASIANPAINT	16,292	20,966	0.78	-1,902	-680	2.80
ASTRAL	3,800	6,650	0.57	-26	297	-0.09
AUBANK	4,674	5,321	0.88	-338	-15	22.53
AUROPHARMA	4,477	9,225	0.49	155	494	0.31
AXISBANK	13,742	25,640	0.54	27	3,370	0.01
BAJAJ-AUTO	14,758	26,769	0.55	-296	1,984	-0.15
BAJAJFINSV	13,671	18,089	0.76	-348	2,541	-0.14
BAJFINANCE	20,520	30,170	0.68	-386	1,899	-0.20
BANDHANBNK	8,751	12,883	0.68	-132	-294	0.45
BANKBARODA	12,204	14,206	0.86	172	1,338	0.13
BANKINDIA	2,789	4,572	0.61	156	496	0.31
BDL	7,307	15,740	0.46	1,096	4,023	0.27
BEL	25,304	54,190	0.47	2,898	12,563	0.23
BHARATFORG	3,937	6,311	0.62	314	572	0.55
BHARTIARTL	17,524	34,824	0.50	-150	2,189	-0.07
BHEL	8,853	19,673	0.45	-96	1,010	-0.10
BIOCON	6,274	13,678	0.46	-97	764	-0.13
BLUESTARCO	727	1,170	0.62	-39	74	-0.53
BOSCHLTD	1,409	2,493	0.57	12	344	0.03
BPCL	4,706	7,068	0.67	25	284	0.09
BRITANNIA	4,288	6,755	0.63	281	587	0.48
BSE	14,855	23,022	0.65	867	2,303	0.38
CAMS	4,323	7,558	0.57	-13	589	-0.02
CANBK	12,635	16,260	0.78	933	792	1.18
CDSL	9,455	19,292	0.49	503	2,448	0.21
CGPOWER	5,047	9,431	0.54	-26	368	-0.07
CHOLAFIN	3,375	5,429	0.62	173	1,390	0.12
CIPLA	10,395	14,488	0.72	-123	253	-0.49
COALINDIA	12,552	13,261	0.95	48	242	0.20
COFORGE	9,135	16,790	0.54	-36	1,347	-0.03
COLPAL	6,738	8,288	0.81	102	201	0.51
CONCOR	7,337	9,449	0.78	149	184	0.81
CROMPTON	6,146	10,572	0.58	198	632	0.31
CUMMINSIND	3,281	4,289	0.76	115	169	0.68
CYIENT	1,943	2,997	0.65	-357	190	-1.88
DABUR	4,486	7,909	0.57	322	301	1.07
DALBHARAT	1,687	2,722	0.62	299	599	0.50
DELHIVERY	3,485	6,027	0.58	183	324	0.56
DIVISLAB	6,221	8,599	0.72	518	984	0.53
DIXON	21,884	46,630	0.47	1,428	3,843	0.37
DLF	15,283	23,140	0.66	1,585	3,952	0.40
DMART	5,373	10,544	0.51	144	776	0.19
DRREDDY	4,980	9,795	0.51	-33	57	-0.58
EICHERMOT	9,857	12,966	0.76	-310	255	-1.22
ETERNAL	16,367	31,346	0.52	1,477	4,577	0.32
EXIDEIND	3,799	4,864	0.78	-92	173	-0.53
FEDERALBNK	6,423	7,778	0.83	-56	138	-0.41
FORTIS	3,320	8,453	0.39	353	1,648	0.21
GAIL	12,912	19,368	0.67	-154	-347	0.44
GLENMARK	8,471	11,535	0.73	246	66	3.73
GMRAIRPORT	9,565	16,972	0.56	1,428	2,191	0.65
GODREJCP	2,962	4,048	0.73	-5	167	-0.03
GODREJPROP	7,427	15,077	0.49	2,016	4,210	0.48
GRASIM	8,507	9,519	0.89	237	124	1.91
HAL	26,062	50,168	0.52	1,856	4,090	0.45
HAVELLS	3,818	4,456	0.86	87	324	0.27
HCLTECH	11,792	17,685	0.67	322	909	0.35
HDFCAMC	4,210	5,435	0.77	163	294	0.55
HDFCBANK	41,260	58,296	0.71	3,784	-81	-46.72
HDFCLIFE	6,903	13,149	0.52	-19	344	-0.06
HEROMOTOCO	13,549	15,920	0.85	-2,881	-43	67.00
HFCL	4,114	10,065	0.41	698	2,449	0.29
HINDALCO	14,678	19,751	0.74	-413	614	-0.67
HINDPETRO	3,995	6,356	0.63	93	3	31.00
HINDUNILVR	5,979	11,880	0.50	145	2,653	0.05
HINDZINC	8,946	16,749	0.53	-209	-24	8.71
HUDCO	6,090	12,005	0.51	380	1,828	0.21
ICICIBANK	30,554	39,610	0.77	778	2,668	0.29
ICICIGI	2,750	3,972	0.69	85	301	0.28
ICICIPRULI	1,944	3,187	0.61	65	462	0.14
IDEA	14,650	29,321	0.50	412	1,610	0.26
IDFCFIRSTB	8,960	14,791	0.61	778	1,516	0.51
IEX	8,429	11,703	0.72	-401	-239	1.68
IIFL	2,334	3,910	0.60	118	54	2.19
INDHOTEL	5,722	8,631	0.66	151	495	0.30
INDIANB	4,584	10,789	0.42	416	939	0.44
INDIGO	47,053	78,182	0.60	20,299	39,976	0.51
INDUSINDBK	12,219	17,782	0.69	157	-55	-2.85
INDUSTOWER	8,433	13,750	0.61	-456	1,197	-0.38
INFY	40,196	58,822	0.68	336	2,518	0.13
INOXWIND	6,468	12,063	0.54	660	2,284	0.29
IOC	5,951	10,197	0.58	17	600	0.03
IRCTC	7,045	11,186	0.63	164	956	0.17
IREDA	5,255	10,510	0.50	235	689	0.34
IRFC	3,994	8,663	0.46	246	908	0.27
ITC	25,013	32,233	0.78	-741	1,380	-0.54
JINDALSTEL	5,604	7,984	0.70	391	328	1.19
JIOFIN	18,009	23,981	0.75	44	1,859	0.02
JSWENERGY	9,489	17,492	0.54	97	2,405	0.04
JSWSTEEL	13,107	25,384	0.52	-50	686	-0.07
JUBLFOOD	4,072	5,854	0.70	-3	186	-0.02
KALYANKJIL	4,446	7,554	0.59	489	527	0.93
KAYNES	20,459	56,425	0.36	-5,868	-9,117	0.64
KEI	1,285	3,190	0.40	78	295	0.26
KFINTECH	3,459	6,141	0.56	-47	327	-0.14
KOTAKBANK	14,907	17,836	0.84	-54	1,443	-0.04
KPITTECH	2,745	5,040	0.54	-24	194	-0.12
LAURUSLABS	4,796	8,852	0.54	2	412	0.00
LICHSGFIN	7,900	9,673	0.82	463	1,053	0.44
LICI	6,107	9,686	0.63	687	968	0.71
LODHA	4,524	9,495	0.48	176	859	0.20
LT	17,176	27,391	0.63	193	3,590	0.05
LTF	5,023	7,566	0.66	-33	436	-0.08
LTIM	4,527	5,815	0.78	-179	69	-2.59
LUPIN	4,865	6,660	0.73	-147	86	-1.71
M&M	16,573	25,465	0.65	-813	826	-0.98
MANAPPURAM	3,230	5,197	0.62	231	496	0.47
MANKIND	2,159	3,678	0.59	-69	66	-1.05
MARICO	2,985	3,796	0.79	-127	161	-0.79
MARUTI	20,692	26,677	0.78	-985	1,875	-0.53
MAXHEALTH	5,121	10,151	0.50	130	698	0.19
MAZDOCK	9,522	17,586	0.54	1,916	4,320	0.44
MCX	13,797	18,988	0.73	249	1,581	0.16
MFSL	2,496	4,546	0.55	140	621	0.23
MOTHERSON	5,921	9,012	0.66	168	544	0.31
MPHASIS	3,372	4,271	0.79	-80	-101	0.79
MUTHOOTFIN	4,513	9,785	0.46	181	233	0.78
NATIONALUM	5,678	7,166	0.79	268	231	1.16
NAUKRI	6,212	7,443	0.83	496	-46	-10.78
NBCC	3,013	6,012	0.50	174	550	0.32
NCC	3,397	6,930	0.49	325	80	4.06
NESTLEIND	4,597	13,554	0.34	54	1,390	0.04
NHPC	3,055	5,591	0.55	58	-98	-0.59
NMDC	10,203	13,027	0.78	-83	431	-0.19
NTPC	14,086	20,439	0.69	343	3,731	0.09
NUVAMA	1,816	4,152	0.44	-2	114	-0.02
NYKAA	2,416	6,006	0.40	-24	228	-0.11
OBEROIRLTY	3,794	6,093	0.62	247	684	0.36
OFSS	4,744	7,015	0.68	539	955	0.56
OIL	1,951	3,679	0.53	-56	433	-0.13
ONGC	8,434	17,647	0.48	228	1,297	0.18
PAGEIND	3,447	6,675	0.52	102	375	0.27
PATANJALI	3,392	6,599	0.51	-149	432	-0.34
PAYTM	7,395	10,800	0.68	-319	503	-0.63
PERSISTENT	4,154	7,257	0.57	-692	621	-1.11
PETRONET	8,141	7,497	1.09	72	253	0.28
PFC	19,684	31,966	0.62	277	2,866	0.10
PGEL	8,022	14,594	0.55	1,132	3,569	0.32
PHOENIXLTD	1,557	2,806	0.55	60	92	0.65
PIDILITIND	1,896	2,386	0.79	147	81	1.81
PIIND	2,578	3,615	0.71	40	99	0.40
PNB	11,249	19,838	0.57	1,405	2,793	0.50
PNBHOUSING	3,783	5,025	0.75	37	561	0.07
POLICYBZR	3,742	5,591	0.67	512	900	0.57
POLYCAB	3,912	6,406	0.61	415	1,436	0.29
POWERGRID	10,401	14,517	0.72	314	200	1.57
POWERINDIA	4,909	11,271	0.44	351	1,275	0.28
PPLPHARMA	2,562	5,305	0.48	110	-17	-6.47
PRESTIGE	2,587	3,986	0.65	205	730	0.28
RBLBANK	4,056	6,898	0.59	285	729	0.39
RECLTD	20,915	30,205	0.69	1,093	3,374	0.32
RELIANCE	49,328	88,148	0.56	1,457	1,000	1.46
RVNL	6,946	14,106	0.49	645	1,586	0.41
SAIL	5,637	9,604	0.59	172	1,194	0.14
SAMMAANCAP	6,004	9,267	0.65	-46	-197	0.23
SBICARD	4,562	6,977	0.65	-366	-273	1.34
SBILIFE	5,121	8,015	0.64	92	1,382	0.07
SBIN	39,451	64,763	0.61	-2,049	5,959	-0.34
SHREECEM	1,270	2,463	0.52	18	240	0.07
SHRIRAMFIN	11,917	17,774	0.67	-395	-216	1.83
SIEMENS	4,868	11,023	0.44	-326	764	-0.43
SOLARINDS	3,511	7,221	0.49	271	505	0.54
SONACOMS	2,313	4,899	0.47	-66	47	-1.40
SRF	5,831	11,254	0.52	-45	4	-11.25
SUNPHARMA	5,592	12,588	0.44	-207	-439	0.47
SUPREMEIND	3,179	6,235	0.51	79	274	0.29
SUZLON	9,189	22,118	0.42	-197	854	-0.23
SYNGENE	1,664	2,524	0.66	25	63	0.40
TATACONSUM	4,827	8,516	0.57	57	91	0.63
TATAELXSI	4,387	10,883	0.40	353	2,209	0.16
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,453	26,623	0.73	990	2,664	0.37
TATASTEEL	14,983	31,689	0.47	-539	1,982	-0.27
TATATECH	4,469	7,197	0.62	153	771	0.20
TCS	38,055	45,779	0.83	-683	1,004	-0.68
TECHM	7,928	8,979	0.88	491	926	0.53
TIINDIA	2,925	5,345	0.55	318	1,048	0.30
TITAGARH	2,442	5,288	0.46	59	493	0.12
TITAN	11,137	18,447	0.60	369	2,184	0.17
TMPV	39,214	83,836	0.47	785	8,346	0.09
TORNTPHARM	1,167	2,181	0.54	52	89	0.58
TORNTPOWER	1,716	2,844	0.60	30	113	0.27
TRENT	22,474	38,828	0.58	2,438	4,788	0.51
TVSMOTOR	9,095	10,287	0.88	-156	-510	0.31
ULTRACEMCO	9,757	15,545	0.63	68	538	0.13
UNIONBANK	5,817	9,712	0.60	394	926	0.43
UNITDSPR	6,364	8,136	0.78	3	368	0.01
UNOMINDA	2,851	4,753	0.60	72	236	0.31
UPL	4,198	5,669	0.74	285	296	0.96
VBL	8,718	21,008	0.41	-356	-55	6.47
VEDL	20,474	33,750	0.61	313	2,772	0.11
VOLTAS	7,025	7,382	0.95	-134	185	-0.72
WIPRO	11,016	13,577	0.81	463	1,285	0.36
YESBANK	5,930	11,798	0.50	253	1,203	0.21
ZYDUSLIFE	3,169	3,769	0.84	37	-45	-0.82

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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