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.

GAIL

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.

Gail (India) Ltd

167.14 -2.84 (-1.67%)

L: 167.03 H: 170.42

Put-Call Ratio - GAIL

08 Dec 2025 11:26 AM IST

Live

Expiry

Put OI

13,098

Call OI

19,703

PCR

0.66

Put OI Chg

32

Call OI Chg

-12

COI PCR

-2.67

COI Strength

1.00

Interval

On 9:20 GAIL was trading at 169.09 with pcr value 0.66

On 9:25 GAIL was trading at 169.35 with pcr value 0.66

On 9:30 GAIL was trading at 169.35 with pcr value 0.66

On 9:35 GAIL was trading at 169.53 with pcr value 0.66

On 9:40 GAIL was trading at 169.28 with pcr value 0.66

On 9:45 GAIL was trading at 169.15 with pcr value 0.67

On 9:50 GAIL was trading at 169.08 with pcr value 0.67

On 9:55 GAIL was trading at 168.94 with pcr value 0.66

On 10:00 GAIL was trading at 168.77 with pcr value 0.66

On 10:05 GAIL was trading at 168.75 with pcr value 0.66

On 10:10 GAIL was trading at 168.55 with pcr value 0.66

On 10:15 GAIL was trading at 168.4 with pcr value 0.66

On 10:20 GAIL was trading at 168.5 with pcr value 0.66

On 10:25 GAIL was trading at 168.01 with pcr value 0.66

On 10:30 GAIL was trading at 168 with pcr value 0.66

On 10:35 GAIL was trading at 168.08 with pcr value 0.66

On 10:40 GAIL was trading at 168 with pcr value 0.66

On 10:45 GAIL was trading at 168 with pcr value 0.66

On 10:50 GAIL was trading at 167.99 with pcr value 0.66

On 10:55 GAIL was trading at 167.87 with pcr value 0.66

On 11:00 GAIL was trading at 167.94 with pcr value 0.66

On 11:05 GAIL was trading at 167.68 with pcr value 0.66

On 11:10 GAIL was trading at 167.5 with pcr value 0.66

On 11:15 GAIL was trading at 167.26 with pcr value 0.66

On 11:20 GAIL was trading at 167.35 with pcr value 0.66

On 11:25 GAIL was trading at 167.13 with pcr value 0.66

On 11:27 GAIL was trading at 167.3 with pcr value 0.66

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	2,912	0.57	94	183	0.51
ABB	4,834	6,168	0.78	-29	57	-0.51
ABCAPITAL	4,304	6,506	0.66	-46	-14	3.29
ADANIENSOL	2,757	4,552	0.61	-51	117	-0.44
ADANIENT	26,788	42,814	0.63	-287	1,052	-0.27
ADANIGREEN	9,191	19,708	0.47	59	379	0.16
ADANIPORTS	9,811	17,306	0.57	326	539	0.60
ALKEM	882	1,349	0.65	61	329	0.19
AMBER	6,657	11,850	0.56	318	423	0.75
AMBUJACEM	9,793	11,568	0.85	19	66	0.29
ANGELONE	7,934	16,972	0.47	55	1,358	0.04
APLAPOLLO	1,858	2,196	0.85	225	224	1.00
APOLLOHOSP	6,525	12,828	0.51	149	520	0.29
ASHOKLEY	11,309	12,301	0.92	372	773	0.48
ASIANPAINT	17,255	21,709	0.79	-939	63	-14.90
ASTRAL	3,936	6,712	0.59	110	359	0.31
AUBANK	5,121	5,414	0.95	109	78	1.40
AUROPHARMA	4,370	8,946	0.49	48	215	0.22
AXISBANK	13,618	23,591	0.58	-97	1,321	-0.07
BAJAJ-AUTO	14,846	26,561	0.56	-208	1,776	-0.12
BAJAJFINSV	13,874	16,882	0.82	-145	1,334	-0.11
BAJFINANCE	20,519	30,078	0.68	-387	1,807	-0.21
BANDHANBNK	8,862	13,125	0.68	-21	-52	0.40
BANKBARODA	11,702	13,433	0.87	-330	565	-0.58
BANKINDIA	2,759	4,309	0.64	126	233	0.54
BDL	7,291	13,675	0.53	1,080	1,958	0.55
BEL	24,037	48,384	0.50	1,631	6,757	0.24
BHARATFORG	3,798	6,005	0.63	175	266	0.66
BHARTIARTL	17,647	33,201	0.53	-27	566	-0.05
BHEL	8,984	19,271	0.47	35	608	0.06
BIOCON	6,426	13,396	0.48	55	482	0.11
BLUESTARCO	761	1,119	0.68	-5	23	-0.22
BOSCHLTD	1,437	2,353	0.61	40	204	0.20
BPCL	4,782	7,118	0.67	101	334	0.30
BRITANNIA	4,043	6,461	0.63	36	293	0.12
BSE	15,097	21,409	0.71	1,109	690	1.61
CAMS	4,313	7,324	0.59	-23	355	-0.06
CANBK	11,709	16,013	0.73	7	545	0.01
CDSL	9,174	18,614	0.49	222	1,770	0.13
CGPOWER	5,145	9,217	0.56	72	154	0.47
CHOLAFIN	3,526	5,779	0.61	324	1,740	0.19
CIPLA	10,585	14,520	0.73	67	285	0.24
COALINDIA	12,602	13,281	0.95	98	262	0.37
COFORGE	9,267	17,076	0.54	96	1,633	0.06
COLPAL	6,651	8,162	0.81	15	75	0.20
CONCOR	7,213	9,416	0.77	25	151	0.17
CROMPTON	6,125	10,242	0.60	177	302	0.59
CUMMINSIND	3,226	4,409	0.73	60	289	0.21
CYIENT	2,258	2,929	0.77	-42	122	-0.34
DABUR	4,484	7,838	0.57	320	230	1.39
DALBHARAT	1,371	2,242	0.61	-17	119	-0.14
DELHIVERY	3,306	5,865	0.56	4	162	0.02
DIVISLAB	5,740	8,175	0.70	37	560	0.07
DIXON	20,645	44,584	0.46	189	1,797	0.11
DLF	14,738	22,281	0.66	1,040	3,093	0.34
DMART	5,299	10,091	0.53	70	323	0.22
DRREDDY	5,102	9,834	0.52	89	96	0.93
EICHERMOT	10,182	12,920	0.79	15	209	0.07
ETERNAL	15,804	29,706	0.53	914	2,937	0.31
EXIDEIND	3,877	4,775	0.81	-14	84	-0.17
FEDERALBNK	6,535	7,885	0.83	56	245	0.23
FORTIS	3,072	7,777	0.40	105	972	0.11
GAIL	13,087	19,666	0.67	21	-49	-0.43
GLENMARK	8,300	11,495	0.72	75	26	2.88
GMRAIRPORT	8,749	15,531	0.56	612	750	0.82
GODREJCP	2,943	4,054	0.73	-24	173	-0.14
GODREJPROP	6,598	13,122	0.50	1,187	2,255	0.53
GRASIM	8,502	9,861	0.86	232	466	0.50
HAL	25,963	48,770	0.53	1,757	2,692	0.65
HAVELLS	3,728	4,402	0.85	-3	270	-0.01
HCLTECH	11,822	17,469	0.68	352	693	0.51
HDFCAMC	4,102	5,327	0.77	55	186	0.30
HDFCBANK	39,225	59,529	0.66	1,749	1,152	1.52
HDFCLIFE	7,190	12,714	0.57	268	-91	-2.95
HEROMOTOCO	14,311	16,231	0.88	-2,119	268	-7.91
HFCL	3,924	9,148	0.43	508	1,532	0.33
HINDALCO	15,625	19,941	0.78	534	804	0.66
HINDPETRO	3,935	6,312	0.62	33	-41	-0.80
HINDUNILVR	5,876	9,538	0.62	42	311	0.14
HINDZINC	9,139	17,058	0.54	-16	285	-0.06
HUDCO	5,722	10,902	0.52	12	725	0.02
ICICIBANK	30,798	40,475	0.76	1,022	3,533	0.29
ICICIGI	2,697	3,941	0.68	32	270	0.12
ICICIPRULI	1,949	3,105	0.63	70	380	0.18
IDEA	14,588	28,164	0.52	350	453	0.77
IDFCFIRSTB	8,206	13,655	0.60	24	380	0.06
IEX	8,712	12,015	0.73	-118	73	-1.62
IIFL	2,237	3,949	0.57	21	93	0.23
INDHOTEL	5,638	8,307	0.68	67	171	0.39
INDIANB	4,335	10,222	0.42	167	372	0.45
INDIGO	47,581	65,499	0.73	20,827	27,293	0.76
INDUSINDBK	12,011	17,368	0.69	-51	-469	0.11
INDUSTOWER	8,607	13,352	0.64	-282	799	-0.35
INFY	41,147	56,900	0.72	1,287	596	2.16
INOXWIND	5,824	10,071	0.58	16	292	0.05
IOC	6,022	10,082	0.60	88	485	0.18
IRCTC	6,982	10,606	0.66	101	376	0.27
IREDA	5,070	10,421	0.49	50	600	0.08
IRFC	3,841	8,364	0.46	93	609	0.15
ITC	25,445	31,064	0.82	-309	211	-1.46
JINDALSTEL	5,314	7,845	0.68	101	189	0.53
JIOFIN	18,106	22,827	0.79	141	705	0.20
JSWENERGY	9,379	17,187	0.55	-13	2,100	-0.01
JSWSTEEL	13,107	26,104	0.50	-50	1,406	-0.04
JUBLFOOD	4,093	5,834	0.70	18	166	0.11
KALYANKJIL	4,086	7,287	0.56	129	260	0.50
KAYNES	23,040	59,682	0.39	-3,287	-5,860	0.56
KEI	1,258	2,956	0.43	51	61	0.84
KFINTECH	3,544	5,999	0.59	38	185	0.21
KOTAKBANK	15,092	16,720	0.90	131	327	0.40
KPITTECH	2,738	5,295	0.52	-31	449	-0.07
LAURUSLABS	4,876	8,705	0.56	82	265	0.31
LICHSGFIN	7,811	9,406	0.83	374	786	0.48
LICI	5,492	8,882	0.62	72	164	0.44
LODHA	4,541	9,136	0.50	193	500	0.39
LT	16,933	25,045	0.68	-50	1,244	-0.04
LTF	5,069	7,520	0.67	13	390	0.03
LTIM	4,760	5,872	0.81	54	126	0.43
LUPIN	5,027	6,865	0.73	15	291	0.05
M&M	17,054	25,318	0.67	-332	679	-0.49
MANAPPURAM	3,053	4,925	0.62	54	224	0.24
MANKIND	2,157	3,635	0.59	-71	23	-3.09
MARICO	2,963	3,846	0.77	-149	211	-0.71
MARUTI	21,221	26,877	0.79	-456	2,075	-0.22
MAXHEALTH	5,147	10,362	0.50	156	909	0.17
MAZDOCK	9,395	15,735	0.60	1,789	2,469	0.72
MCX	14,099	18,367	0.77	551	960	0.57
MFSL	2,551	4,917	0.52	195	992	0.20
MOTHERSON	5,724	8,630	0.66	-29	162	-0.18
MPHASIS	3,504	4,383	0.80	52	11	4.73
MUTHOOTFIN	4,348	9,572	0.45	16	20	0.80
NATIONALUM	5,791	7,307	0.79	381	372	1.02
NAUKRI	5,631	7,450	0.76	-85	-39	2.18
NBCC	2,913	5,853	0.50	74	391	0.19
NCC	3,136	6,994	0.45	64	144	0.44
NESTLEIND	4,739	12,704	0.37	196	540	0.36
NHPC	3,015	5,740	0.53	18	51	0.35
NMDC	10,307	12,852	0.80	21	256	0.08
NTPC	13,516	18,373	0.74	-227	1,665	-0.14
NUVAMA	1,851	4,201	0.44	33	163	0.20
NYKAA	2,411	6,207	0.39	-29	429	-0.07
OBEROIRLTY	3,559	5,440	0.65	12	31	0.39
OFSS	4,054	6,725	0.60	-151	665	-0.23
OIL	2,000	3,415	0.59	-7	169	-0.04
ONGC	8,307	16,702	0.50	101	352	0.29
PAGEIND	3,392	6,692	0.51	47	392	0.12
PATANJALI	3,471	6,701	0.52	-70	534	-0.13
PAYTM	7,772	10,397	0.75	58	100	0.58
PERSISTENT	4,497	7,166	0.63	-349	530	-0.66
PETRONET	8,107	7,337	1.10	38	93	0.41
PFC	19,696	30,407	0.65	289	1,307	0.22
PGEL	7,676	12,057	0.64	786	1,032	0.76
PHOENIXLTD	1,498	2,783	0.54	1	69	0.01
PIDILITIND	1,750	2,353	0.74	1	48	0.02
PIIND	2,524	3,607	0.70	-14	91	-0.15
PNB	9,967	18,086	0.55	123	1,041	0.12
PNBHOUSING	3,792	4,400	0.86	46	-64	-0.72
POLICYBZR	3,862	6,096	0.63	632	1,405	0.45
POLYCAB	3,659	5,703	0.64	162	733	0.22
POWERGRID	10,291	14,483	0.71	204	166	1.23
POWERINDIA	4,738	11,115	0.43	180	1,119	0.16
PPLPHARMA	2,496	5,565	0.45	44	243	0.18
PRESTIGE	2,387	3,567	0.67	5	311	0.02
RBLBANK	3,910	6,812	0.57	139	643	0.22
RECLTD	20,225	28,651	0.71	403	1,820	0.22
RELIANCE	49,209	88,748	0.55	1,338	1,600	0.84
RVNL	6,460	12,924	0.50	159	404	0.39
SAIL	5,504	9,113	0.60	39	703	0.06
SAMMAANCAP	6,046	9,387	0.64	-4	-77	0.05
SBICARD	4,738	7,201	0.66	-190	-49	3.88
SBILIFE	5,081	7,025	0.72	52	392	0.13
SBIN	39,492	61,295	0.64	-2,008	2,491	-0.81
SHREECEM	1,245	2,303	0.54	-7	80	-0.09
SHRIRAMFIN	11,912	18,082	0.66	-400	92	-4.35
SIEMENS	5,336	11,953	0.45	142	1,694	0.08
SOLARINDS	3,412	7,064	0.48	172	348	0.49
SONACOMS	2,341	4,920	0.48	-38	68	-0.56
SRF	5,918	11,584	0.51	42	334	0.13
SUNPHARMA	5,649	12,206	0.46	-150	-821	0.18
SUPREMEIND	3,157	6,057	0.52	57	96	0.59
SUZLON	9,305	21,637	0.43	-81	373	-0.22
SYNGENE	1,602	2,465	0.65	-37	4	-9.25
TATACONSUM	4,775	8,506	0.56	5	81	0.06
TATAELXSI	4,216	9,006	0.47	182	332	0.55
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,098	25,275	0.76	635	1,316	0.48
TATASTEEL	15,409	31,199	0.49	-113	1,492	-0.08
TATATECH	4,571	6,696	0.68	255	270	0.94
TCS	39,101	46,848	0.83	363	2,073	0.18
TECHM	7,582	9,278	0.82	145	1,225	0.12
TIINDIA	2,687	4,546	0.59	80	249	0.32
TITAGARH	2,355	5,200	0.45	-28	405	-0.07
TITAN	11,088	16,811	0.66	320	548	0.58
TMPV	38,377	81,020	0.47	-52	5,530	-0.01
TORNTPHARM	1,111	2,169	0.51	-4	77	-0.05
TORNTPOWER	1,692	2,825	0.60	6	94	0.06
TRENT	21,482	37,784	0.57	1,446	3,744	0.39
TVSMOTOR	9,315	10,588	0.88	64	-209	-0.31
ULTRACEMCO	9,892	15,450	0.64	203	443	0.46
UNIONBANK	5,620	9,287	0.61	197	501	0.39
UNITDSPR	6,469	8,084	0.80	108	316	0.34
UNOMINDA	2,853	4,942	0.58	74	425	0.17
UPL	4,141	5,473	0.76	228	100	2.28
VBL	8,967	21,408	0.42	-107	345	-0.31
VEDL	20,211	32,170	0.63	50	1,192	0.04
VOLTAS	7,117	7,502	0.95	-42	305	-0.14
WIPRO	11,300	12,815	0.88	747	523	1.43
YESBANK	5,840	11,340	0.51	163	745	0.22
ZYDUSLIFE	3,138	3,809	0.82	6	-5	-1.20

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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