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.

CHOLAFIN

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.

Cholamandalam In & Fin Co

1724.1 -19.90 (-1.14%)

L: 1720.1 H: 1745.9

Put-Call Ratio - CHOLAFIN

11 Dec 2025 01:42 PM IST

Live

Expiry

Put OI

3,421

Call OI

5,290

PCR

0.65

Put OI Chg

45

Call OI Chg

-77

COI PCR

-0.58

COI Strength

1.00

Interval

On 9:30 CHOLAFIN was trading at 1734.1 with pcr value 0.64

On 9:45 CHOLAFIN was trading at 1732 with pcr value 0.65

On 10:00 CHOLAFIN was trading at 1735.7 with pcr value 0.65

On 10:15 CHOLAFIN was trading at 1734.7 with pcr value 0.65

On 10:30 CHOLAFIN was trading at 1738 with pcr value 0.65

On 10:45 CHOLAFIN was trading at 1742.6 with pcr value 0.65

On 11:00 CHOLAFIN was trading at 1741.9 with pcr value 0.65

On 11:15 CHOLAFIN was trading at 1738.6 with pcr value 0.65

On 11:30 CHOLAFIN was trading at 1739.9 with pcr value 0.65

On 11:45 CHOLAFIN was trading at 1734.9 with pcr value 0.65

On 12:00 CHOLAFIN was trading at 1736.1 with pcr value 0.65

On 12:15 CHOLAFIN was trading at 1739.4 with pcr value 0.65

On 12:30 CHOLAFIN was trading at 1735.2 with pcr value 0.65

On 12:45 CHOLAFIN was trading at 1730.7 with pcr value 0.65

On 13:00 CHOLAFIN was trading at 1731.7 with pcr value 0.65

On 13:15 CHOLAFIN was trading at 1720.6 with pcr value 0.64

On 13:30 CHOLAFIN was trading at 1725.5 with pcr value 0.65

On 13:43 CHOLAFIN was trading at 1725.2 with pcr value 0.65

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	1,652	3,048	0.54	-37	-45	0.82
ABB	5,044	6,676	0.76	86	410	0.21
ABCAPITAL	4,915	7,715	0.64	294	322	0.91
ADANIENSOL	3,359	5,355	0.63	4	-232	-0.02
ADANIENT	27,181	44,800	0.61	570	-482	-1.18
ADANIGREEN	11,100	20,899	0.53	760	-782	-0.97
ADANIPORTS	9,799	18,481	0.53	87	-749	-0.12
ALKEM	1,151	1,778	0.65	77	26	2.96
AMBER	6,979	11,471	0.61	81	-388	-0.21
AMBUJACEM	9,226	12,122	0.76	-121	205	-0.59
ANGELONE	8,196	17,605	0.47	-223	-1,666	0.13
APLAPOLLO	2,429	2,711	0.90	429	-77	-5.57
APOLLOHOSP	7,157	15,369	0.47	350	864	0.41
ASHOKLEY	9,938	12,489	0.80	295	-171	-1.73
ASIANPAINT	17,394	30,111	0.58	468	1,768	0.26
ASTRAL	4,267	7,869	0.54	196	303	0.65
AUBANK	6,496	7,805	0.83	-606	34	-17.82
AUROPHARMA	4,450	10,362	0.43	57	-28	-2.04
AXISBANK	14,111	29,610	0.48	-78	-50	1.56
BAJAJ-AUTO	14,832	25,076	0.59	59	-984	-0.06
BAJAJFINSV	13,345	19,439	0.69	-148	-152	0.97
BAJFINANCE	22,430	37,200	0.60	774	2,236	0.35
BANDHANBNK	8,429	12,399	0.68	-32	-63	0.51
BANKBARODA	12,459	14,907	0.84	-95	410	-0.23
BANKINDIA	3,212	4,583	0.70	72	-86	-0.84
BDL	7,574	16,975	0.45	-283	-438	0.65
BEL	26,178	56,810	0.46	110	-283	-0.39
BHARATFORG	4,030	6,404	0.63	138	19	7.26
BHARTIARTL	18,390	40,309	0.46	489	2,012	0.24
BHEL	9,543	18,633	0.51	106	-369	-0.29
BIOCON	6,519	13,382	0.49	33	9	3.67
BLUESTARCO	880	1,305	0.67	87	-83	-1.05
BOSCHLTD	1,511	2,543	0.59	30	-320	-0.09
BPCL	4,918	7,539	0.65	150	334	0.45
BRITANNIA	4,604	7,313	0.63	-40	-140	0.29
BSE	17,759	30,331	0.59	598	-2,021	-0.30
CAMS	4,418	7,824	0.56	-14	-246	0.06
CANBK	12,152	15,570	0.78	191	-428	-0.45
CDSL	10,021	20,483	0.49	-65	-1,401	0.05
CGPOWER	4,776	8,776	0.54	-92	-38	2.42
CHOLAFIN	3,421	5,290	0.65	45	-77	-0.58
CIPLA	10,788	15,523	0.69	-15	-27	0.56
COALINDIA	12,670	11,547	1.10	186	-593	-0.31
COFORGE	8,622	21,851	0.39	-169	841	-0.20
COLPAL	6,605	8,928	0.74	-126	92	-1.37
CONCOR	7,109	9,458	0.75	-109	87	-1.25
CROMPTON	6,440	11,190	0.58	106	124	0.85
CUMMINSIND	3,595	4,361	0.82	179	-37	-4.84
CYIENT	1,871	2,734	0.68	-2	-34	0.06
DABUR	4,709	8,866	0.53	39	323	0.12
DALBHARAT	1,792	2,783	0.64	34	-161	-0.21
DELHIVERY	3,930	5,757	0.68	1	14	0.07
DIVISLAB	6,764	9,002	0.75	446	-194	-2.30
DIXON	34,731	72,624	0.48	5,179	2,368	2.19
DLF	16,371	24,173	0.68	31	-562	-0.06
DMART	7,327	13,084	0.56	391	464	0.84
DRREDDY	5,459	10,176	0.54	579	-515	-1.12
EICHERMOT	11,338	14,231	0.80	750	1,258	0.60
ETERNAL	17,892	31,132	0.57	154	-1,134	-0.14
EXIDEIND	3,901	5,077	0.77	-32	-48	0.67
FEDERALBNK	7,831	8,247	0.95	698	-47	-14.85
FORTIS	3,470	9,171	0.38	34	99	0.34
GAIL	12,866	19,566	0.66	-125	-95	1.32
GLENMARK	8,351	11,567	0.72	-363	175	-2.07
GMRAIRPORT	9,964	18,706	0.53	164	504	0.33
GODREJCP	2,848	4,005	0.71	-40	-175	0.23
GODREJPROP	6,986	11,996	0.58	-109	-159	0.69
GRASIM	8,565	9,140	0.94	76	-541	-0.14
HAL	27,904	52,587	0.53	-239	-1,391	0.17
HAVELLS	3,839	5,119	0.75	-45	115	-0.39
HCLTECH	11,735	19,182	0.61	-90	542	-0.17
HDFCAMC	4,299	5,208	0.83	3	-276	-0.01
HDFCBANK	41,089	61,060	0.67	-1,120	-6,824	0.16
HDFCLIFE	6,946	15,059	0.46	158	623	0.25
HEROMOTOCO	11,951	16,635	0.72	134	-633	-0.21
HFCL	4,447	10,090	0.44	7	-464	-0.02
HINDALCO	15,219	20,277	0.75	82	71	1.15
HINDPETRO	4,101	6,397	0.64	51	83	0.61
HINDUNILVR	7,091	15,926	0.45	39	-34	-1.15
HINDZINC	12,065	18,715	0.64	1,445	1,516	0.95
HUDCO	6,281	13,082	0.48	-162	-228	0.71
ICICIBANK	30,742	48,108	0.64	364	1,988	0.18
ICICIGI	3,223	5,010	0.64	78	-10	-7.80
ICICIPRULI	2,374	4,346	0.55	-197	27	-7.30
IDEA	15,181	27,466	0.55	306	-98	-3.12
IDFCFIRSTB	8,723	13,969	0.62	59	350	0.17
IEX	8,548	12,011	0.71	66	-20	-3.30
IIFL	2,514	3,819	0.66	14	67	0.21
INDHOTEL	5,687	8,554	0.66	127	-56	-2.23
INDIANB	4,677	10,783	0.43	-67	17	-3.94
INDIGO	57,724	1,18,828	0.49	3,242	6,981	0.46
INDUSINDBK	12,610	18,141	0.70	139	-266	-0.52
INDUSTOWER	8,294	12,914	0.64	-87	-369	0.24
INFY	37,129	58,764	0.63	-914	-366	2.50
INOXWIND	7,145	14,326	0.50	136	-625	-0.22
IOC	6,154	11,358	0.54	133	673	0.20
IRCTC	7,154	11,210	0.64	57	-117	-0.49
IREDA	5,064	10,662	0.47	-99	-174	0.57
IRFC	4,472	8,838	0.51	61	-23	-2.65
ITC	24,589	32,818	0.75	147	382	0.38
JINDALSTEL	5,449	7,995	0.68	23	48	0.48
JIOFIN	18,674	25,848	0.72	-199	-1,232	0.16
JSWENERGY	10,269	18,564	0.55	-266	-446	0.60
JSWSTEEL	14,471	27,953	0.52	0	-194	0.00
JUBLFOOD	3,906	5,659	0.69	-100	-424	0.24
KALYANKJIL	4,597	8,811	0.52	288	-114	-2.53
KAYNES	30,773	81,939	0.38	1,436	3,555	0.40
KEI	1,624	3,136	0.52	23	-114	-0.20
KFINTECH	4,443	5,985	0.74	323	-178	-1.81
KOTAKBANK	21,575	21,745	0.99	6,728	3,079	2.19
KPITTECH	3,164	5,015	0.63	176	-525	-0.34
LAURUSLABS	5,095	8,732	0.58	235	-288	-0.82
LICHSGFIN	7,487	9,152	0.82	-26	19	-1.37
LICI	6,278	10,251	0.61	53	-9	-5.89
LODHA	4,627	10,306	0.45	-12	72	-0.17
LT	17,633	31,424	0.56	-92	802	-0.11
LTF	5,174	7,866	0.66	12	-62	-0.19
LTIM	4,678	6,088	0.77	-194	68	-2.85
LUPIN	4,902	6,465	0.76	177	-311	-0.57
M&M	16,373	27,783	0.59	-40	315	-0.13
MANAPPURAM	3,460	5,569	0.62	33	-60	-0.55
MANKIND	2,191	4,186	0.52	-21	87	-0.24
MARICO	2,692	3,936	0.68	-109	-236	0.46
MARUTI	24,624	29,139	0.85	4,344	-620	-7.01
MAXHEALTH	5,323	9,984	0.53	-125	-97	1.29
MAZDOCK	9,738	19,574	0.50	-212	-224	0.95
MCX	14,677	23,202	0.63	-301	604	-0.50
MFSL	2,476	4,212	0.59	26	-153	-0.17
MOTHERSON	6,431	9,937	0.65	495	530	0.93
MPHASIS	3,624	4,596	0.79	13	-51	-0.25
MUTHOOTFIN	4,837	9,962	0.49	207	265	0.78
NATIONALUM	6,024	8,187	0.74	46	216	0.21
NAUKRI	5,757	8,204	0.70	195	176	1.11
NBCC	3,200	6,584	0.49	62	60	1.03
NCC	3,570	7,131	0.50	96	24	4.00
NESTLEIND	4,491	15,213	0.30	-19	-147	0.13
NHPC	3,183	7,200	0.44	14	-178	-0.08
NMDC	9,972	12,703	0.79	-139	-560	0.25
NTPC	14,217	22,692	0.63	59	-337	-0.17
NUVAMA	2,302	4,313	0.53	142	116	1.22
NYKAA	2,715	6,602	0.41	45	208	0.22
OBEROIRLTY	3,967	5,666	0.70	-10	-362	0.03
OFSS	10,282	8,327	1.23	4,503	-414	-10.88
OIL	2,498	4,029	0.62	-9	-248	0.04
ONGC	8,369	19,100	0.44	-37	-124	0.30
PAGEIND	3,380	6,795	0.50	-83	-139	0.60
PATANJALI	3,626	7,893	0.46	173	118	1.47
PAYTM	7,948	12,340	0.64	-172	-281	0.61
PERSISTENT	6,253	10,002	0.63	712	371	1.92
PETRONET	8,500	8,047	1.06	4	-17	-0.24
PFC	20,139	32,228	0.62	230	1,010	0.23
PGEL	8,232	12,785	0.64	-206	-73	2.82
PHOENIXLTD	1,447	2,824	0.51	8	17	0.47
PIDILITIND	1,918	2,537	0.76	-32	-51	0.63
PIIND	2,569	3,762	0.68	-51	-101	0.50
PNB	11,560	21,892	0.53	-81	299	-0.27
PNBHOUSING	4,048	5,014	0.81	38	-139	-0.27
POLICYBZR	4,691	5,712	0.82	25	-59	-0.42
POLYCAB	4,138	5,864	0.71	147	-124	-1.19
POWERGRID	10,620	15,735	0.67	190	418	0.45
POWERINDIA	4,388	12,133	0.36	-155	528	-0.29
PPLPHARMA	2,525	6,060	0.42	-5	28	-0.18
PRESTIGE	2,979	3,633	0.82	148	-50	-2.96
RBLBANK	4,484	6,846	0.65	272	59	4.61
RECLTD	21,129	31,247	0.68	-58	370	-0.16
RELIANCE	51,817	96,214	0.54	1,313	2,558	0.51
RVNL	6,594	12,496	0.53	14	101	0.14
SAIL	5,752	9,921	0.58	82	6	13.67
SAMMAANCAP	5,937	9,003	0.66	-2	-8	0.25
SBICARD	4,556	6,989	0.65	-48	-291	0.16
SBILIFE	4,764	8,733	0.55	-69	1	-69.00
SBIN	39,905	65,407	0.61	-825	-881	0.94
SHREECEM	1,526	2,715	0.56	261	-235	-1.11
SHRIRAMFIN	12,115	17,764	0.68	-149	-250	0.60
SIEMENS	5,646	12,567	0.45	193	477	0.40
SOLARINDS	3,525	8,111	0.43	-27	248	-0.11
SONACOMS	2,661	5,525	0.48	301	-171	-1.76
SRF	6,732	10,176	0.66	782	-43	-18.19
SUNPHARMA	6,302	15,203	0.41	-488	-1,198	0.41
SUPREMEIND	3,820	6,984	0.55	525	691	0.76
SUZLON	9,817	23,100	0.42	157	94	1.67
SYNGENE	1,627	2,488	0.65	-13	-64	0.20
TATACONSUM	4,559	8,489	0.54	-27	-187	0.14
TATAELXSI	5,177	15,084	0.34	-64	-218	0.29
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,636	25,785	0.76	-267	-31	8.61
TATASTEEL	15,918	32,865	0.48	470	-720	-0.65
TATATECH	4,685	7,482	0.63	20	-211	-0.09
TCS	37,910	49,043	0.77	1,613	2,142	0.75
TECHM	7,237	9,217	0.79	-195	-232	0.84
TIINDIA	4,627	7,450	0.62	80	-89	-0.90
TITAGARH	2,521	5,579	0.45	-7	-32	0.22
TITAN	12,189	20,674	0.59	654	553	1.18
TMPV	39,988	87,980	0.45	592	-624	-0.95
TORNTPHARM	1,183	2,340	0.51	-24	125	-0.19
TORNTPOWER	2,104	2,822	0.75	228	-147	-1.55
TRENT	26,654	48,860	0.55	1,351	3,760	0.36
TVSMOTOR	9,363	9,760	0.96	-17	-187	0.09
ULTRACEMCO	10,599	18,549	0.57	235	-273	-0.86
UNIONBANK	5,700	9,225	0.62	81	-62	-1.31
UNITDSPR	6,389	8,453	0.76	49	71	0.69
UNOMINDA	2,736	4,988	0.55	-99	-15	6.60
UPL	4,078	5,549	0.73	108	-133	-0.81
VBL	8,939	22,263	0.40	-68	152	-0.45
VEDL	22,209	32,868	0.68	1,208	-373	-3.24
VOLTAS	6,789	7,799	0.87	-143	-153	0.93
WIPRO	11,035	13,748	0.80	85	-350	-0.24
YESBANK	6,293	12,237	0.51	92	-1	-92.00
ZYDUSLIFE	3,295	4,362	0.76	15	118	0.13

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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