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.

ICICIBANK

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.

Icici Bank Ltd.

1355.6 -1.20 (-0.09%)

L: 1350.8 H: 1360.4

Put-Call Ratio - ICICIBANK

19 Dec 2025 02:35 PM IST

Live

Expiry

Put OI

30,875

Call OI

52,184

PCR

0.59

Put OI Chg

-563

Call OI Chg

1,875

COI PCR

-0.30

COI Strength

-1.00

Interval

On 9:30 ICICIBANK was trading at 1356.6 with pcr value 0.62

On 9:45 ICICIBANK was trading at 1357.2 with pcr value 0.6

On 10:00 ICICIBANK was trading at 1356.3 with pcr value 0.6

On 10:15 ICICIBANK was trading at 1355.5 with pcr value 0.6

On 10:30 ICICIBANK was trading at 1354.8 with pcr value 0.59

On 10:45 ICICIBANK was trading at 1356.7 with pcr value 0.59

On 11:00 ICICIBANK was trading at 1356.5 with pcr value 0.6

On 11:15 ICICIBANK was trading at 1355.8 with pcr value 0.6

On 11:30 ICICIBANK was trading at 1354.9 with pcr value 0.6

On 11:45 ICICIBANK was trading at 1354 with pcr value 0.59

On 12:00 ICICIBANK was trading at 1351.2 with pcr value 0.59

On 12:15 ICICIBANK was trading at 1355.4 with pcr value 0.59

On 12:30 ICICIBANK was trading at 1356.1 with pcr value 0.59

On 12:45 ICICIBANK was trading at 1356 with pcr value 0.59

On 13:00 ICICIBANK was trading at 1356.6 with pcr value 0.59

On 13:15 ICICIBANK was trading at 1355.2 with pcr value 0.6

On 13:30 ICICIBANK was trading at 1353.6 with pcr value 0.59

On 13:45 ICICIBANK was trading at 1354.7 with pcr value 0.59

On 14:00 ICICIBANK was trading at 1355.4 with pcr value 0.59

On 14:15 ICICIBANK was trading at 1354.5 with pcr value 0.59

On 14:30 ICICIBANK was trading at 1356.2 with pcr value 0.59

On 14:36 ICICIBANK was trading at 1355.3 with pcr value 0.59

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	2,183	3,600	0.61	98	24	4.08
ABB	5,347	6,957	0.77	9	-150	-0.06
ABCAPITAL	4,724	8,352	0.57	31	247	0.13
ADANIENSOL	3,346	6,001	0.56	89	16	5.56
ADANIENT	29,147	46,232	0.63	2,565	2,512	1.02
ADANIGREEN	10,125	17,449	0.58	376	-1,001	-0.38
ADANIPORTS	9,636	19,249	0.50	419	620	0.68
ALKEM	1,393	2,070	0.67	158	1	158.00
AMBER	7,038	11,082	0.64	-230	86	-2.67
AMBUJACEM	8,329	11,355	0.73	18	-110	-0.16
ANGELONE	7,687	18,940	0.41	-13	-1,728	0.01
APLAPOLLO	2,338	2,856	0.82	107	253	0.42
APOLLOHOSP	9,530	17,938	0.53	665	-356	-1.87
ASHOKLEY	14,870	13,701	1.09	1,427	347	4.11
ASIANPAINT	16,746	33,309	0.50	104	-1,323	-0.08
ASTRAL	4,238	8,083	0.52	-30	50	-0.60
AUBANK	6,582	7,774	0.85	140	-54	-2.59
AUROPHARMA	5,325	11,843	0.45	581	1,715	0.34
AXISBANK	21,057	44,562	0.47	-679	-2,893	0.23
BAJAJ-AUTO	14,834	26,713	0.56	597	-1,802	-0.33
BAJAJFINSV	14,030	21,065	0.67	-54	-188	0.29
BAJFINANCE	22,627	37,762	0.60	-518	-2,008	0.26
BANDHANBNK	7,498	11,125	0.67	-124	-26	4.77
BANKBARODA	11,880	13,852	0.86	-42	-655	0.06
BANKINDIA	3,697	4,928	0.75	73	-75	-0.97
BDL	8,444	21,172	0.40	-72	-503	0.14
BEL	26,169	56,603	0.46	143	-2,819	-0.05
BHARATFORG	4,765	7,618	0.63	433	713	0.61
BHARTIARTL	19,287	41,006	0.47	666	1,950	0.34
BHEL	8,822	19,262	0.46	27	126	0.21
BIOCON	6,164	11,428	0.54	115	-322	-0.36
BLUESTARCO	2,402	3,355	0.72	643	1,503	0.43
BOSCHLTD	1,657	3,888	0.43	51	92	0.55
BPCL	5,514	9,557	0.58	99	175	0.57
BRITANNIA	6,484	9,362	0.69	308	-1,106	-0.28
BSE	16,817	33,175	0.51	-191	1,064	-0.18
CAMS	4,765	7,449	0.64	-31	-415	0.07
CANBK	12,068	16,123	0.75	-68	1,025	-0.07
CDSL	9,673	22,492	0.43	-35	-385	0.09
CGPOWER	4,416	10,258	0.43	-184	-417	0.44
CHOLAFIN	16,485	14,106	1.17	8,240	4,813	1.71
CIPLA	10,163	14,620	0.70	235	-414	-0.57
COALINDIA	13,295	13,276	1.00	231	229	1.01
COFORGE	9,129	21,304	0.43	312	1,633	0.19
COLPAL	7,697	11,904	0.65	-144	-634	0.23
CONCOR	7,941	10,303	0.77	188	124	1.52
CROMPTON	6,833	14,193	0.48	-30	736	-0.04
CUMMINSIND	3,982	7,432	0.54	139	1,048	0.13
CYIENT	2,365	3,630	0.65	8	-48	-0.17
DABUR	6,448	11,564	0.56	-45	-76	0.59
DALBHARAT	2,840	4,236	0.67	48	-143	-0.34
DELHIVERY	4,141	6,106	0.68	135	-193	-0.70
DIVISLAB	9,540	19,056	0.50	2,797	9,436	0.30
DIXON	35,214	72,918	0.48	-70	6,289	-0.01
DLF	16,660	25,616	0.65	-917	-379	2.42
DMART	7,144	16,608	0.43	-190	-807	0.24
DRREDDY	4,977	10,703	0.47	-210	321	-0.65
EICHERMOT	11,154	14,362	0.78	598	-650	-0.92
ETERNAL	18,122	34,811	0.52	-523	-1,456	0.36
EXIDEIND	4,391	6,386	0.69	36	-356	-0.10
FEDERALBNK	9,249	7,779	1.19	965	-111	-8.69
FORTIS	3,566	7,774	0.46	41	-253	-0.16
GAIL	12,900	19,224	0.67	-248	-819	0.30
GLENMARK	7,380	11,026	0.67	-406	484	-0.84
GMRAIRPORT	10,509	21,723	0.48	-9	845	-0.01
GODREJCP	3,772	5,577	0.68	-10	114	-0.09
GODREJPROP	6,882	11,043	0.62	-33	-996	0.03
GRASIM	9,266	8,310	1.12	-146	-251	0.58
HAL	28,030	52,504	0.53	-468	-2,313	0.20
HAVELLS	3,932	5,120	0.77	156	226	0.69
HCLTECH	12,990	26,089	0.50	1,219	5,556	0.22
HDFCAMC	8,308	10,627	0.78	-3,149	-991	3.18
HDFCBANK	43,110	74,100	0.58	320	-2,760	-0.12
HDFCLIFE	7,092	14,975	0.47	6	-1,361	-0.00
HEROMOTOCO	13,904	33,648	0.41	281	1,891	0.15
HFCL	4,747	11,503	0.41	-203	-51	3.98
HINDALCO	15,088	21,439	0.70	-546	803	-0.68
HINDPETRO	4,139	6,898	0.60	88	2	44.00
HINDUNILVR	9,588	20,392	0.47	-264	-354	0.75
HINDZINC	26,402	37,026	0.71	-321	1,388	-0.23
HUDCO	6,447	14,833	0.43	37	97	0.38
ICICIBANK	30,875	52,184	0.59	-563	1,875	-0.30
ICICIGI	3,185	6,087	0.52	-5	103	-0.05
ICICIPRULI	2,518	4,937	0.51	158	38	4.16
IDEA	14,313	24,731	0.58	230	-530	-0.43
IDFCFIRSTB	9,628	12,073	0.80	-85	-78	1.09
IEX	8,129	10,930	0.74	-175	-360	0.49
IIFL	2,677	4,476	0.60	20	130	0.15
INDHOTEL	6,195	9,715	0.64	-85	-238	0.36
INDIANB	4,930	12,102	0.41	108	233	0.46
INDIGO	54,565	96,380	0.57	1,236	-323	-3.83
INDUSINDBK	12,587	18,211	0.69	-207	94	-2.20
INDUSTOWER	8,431	14,309	0.59	-112	-225	0.50
INFY	48,241	71,291	0.68	962	7,253	0.13
INOXWIND	6,669	13,322	0.50	-49	-477	0.10
IOC	7,342	11,511	0.64	-343	-136	2.52
IRCTC	6,994	10,112	0.69	-79	-470	0.17
IREDA	5,241	10,325	0.51	114	31	3.68
IRFC	4,774	9,028	0.53	114	-316	-0.36
ITC	20,059	34,206	0.59	-345	-739	0.47
JINDALSTEL	5,790	9,403	0.62	139	218	0.64
JIOFIN	18,178	25,824	0.70	-76	-873	0.09
JSWENERGY	9,657	15,063	0.64	67	-52	-1.29
JSWSTEEL	11,814	27,855	0.42	2	232	0.01
JUBLFOOD	5,862	9,759	0.60	-185	-529	0.35
KALYANKJIL	4,830	9,252	0.52	66	-155	-0.43
KAYNES	28,557	69,834	0.41	-741	-5,195	0.14
KEI	3,102	3,836	0.81	530	88	6.02
KFINTECH	5,014	5,429	0.92	783	-28	-27.96
KOTAKBANK	17,560	20,969	0.84	-30	-85	0.35
KPITTECH	5,644	6,753	0.84	1,817	-49	-37.08
LAURUSLABS	6,109	9,630	0.63	854	365	2.34
LICHSGFIN	7,754	9,337	0.83	155	69	2.25
LICI	6,205	12,122	0.51	133	147	0.90
LODHA	4,891	10,480	0.47	19	-450	-0.04
LT	19,003	30,987	0.61	1,462	-627	-2.33
LTF	5,215	8,131	0.64	122	147	0.83
LTIM	5,444	7,635	0.71	706	1,404	0.50
LUPIN	5,569	7,064	0.79	295	414	0.71
M&M	17,102	31,641	0.54	-1	-1,039	0.00
MANAPPURAM	3,880	6,092	0.64	103	-238	-0.43
MANKIND	2,470	4,656	0.53	82	74	1.11
MARICO	3,209	4,806	0.67	43	-71	-0.61
MARUTI	29,984	31,109	0.96	1,894	-8	-236.75
MAXHEALTH	6,932	10,811	0.64	556	-289	-1.92
MAZDOCK	9,935	22,713	0.44	-187	169	-1.11
MCX	16,092	22,024	0.73	1,342	-287	-4.68
MFSL	2,485	4,518	0.55	85	144	0.59
MOTHERSON	6,578	8,942	0.74	531	50	10.62
MPHASIS	4,093	5,264	0.78	230	-13	-17.69
MUTHOOTFIN	5,517	10,874	0.51	20	276	0.07
NATIONALUM	6,764	8,535	0.79	-100	297	-0.34
NAUKRI	5,872	7,731	0.76	76	499	0.15
NBCC	3,513	7,506	0.47	132	-1,597	-0.08
NCC	3,785	8,964	0.42	49	-32	-1.53
NESTLEIND	4,350	14,620	0.30	34	352	0.10
NHPC	3,285	6,858	0.48	109	-274	-0.40
NMDC	10,246	14,248	0.72	220	471	0.47
NTPC	14,023	23,309	0.60	-114	73	-1.58
NUVAMA	3,084	7,090	0.43	151	1,248	0.12
NYKAA	2,981	6,950	0.43	171	-201	-0.85
OBEROIRLTY	3,739	5,077	0.74	35	-76	-0.46
OFSS	6,423	11,492	0.56	413	388	1.06
OIL	2,502	4,740	0.53	-73	-42	1.74
ONGC	10,692	26,683	0.40	-52	-23	2.26
PAGEIND	3,576	9,258	0.39	17	699	0.02
PATANJALI	4,652	8,744	0.53	-75	309	-0.24
PAYTM	8,896	12,751	0.70	881	-1,136	-0.78
PERSISTENT	7,209	11,642	0.62	378	636	0.59
PETRONET	8,939	8,222	1.09	-63	-322	0.20
PFC	22,577	33,231	0.68	1,168	-1,535	-0.76
PGEL	6,794	11,288	0.60	-935	-506	1.85
PHOENIXLTD	2,041	3,289	0.62	270	-161	-1.68
PIDILITIND	1,934	2,989	0.65	8	235	0.03
PIIND	3,744	5,756	0.65	-24	120	-0.20
PNB	11,596	20,797	0.56	16	-182	-0.09
PNBHOUSING	7,120	11,318	0.63	227	-609	-0.37
POLICYBZR	6,605	7,576	0.87	757	-798	-0.95
POLYCAB	7,405	8,224	0.90	2,680	465	5.76
POWERGRID	10,792	16,638	0.65	30	-1,230	-0.02
POWERINDIA	4,693	13,122	0.36	595	185	3.22
PPLPHARMA	3,042	7,442	0.41	39	271	0.14
PRESTIGE	2,857	4,184	0.68	111	-132	-0.84
RBLBANK	4,888	8,042	0.61	57	17	3.35
RECLTD	21,476	32,971	0.65	-237	-281	0.84
RELIANCE	50,853	86,099	0.59	1,602	-8,621	-0.19
RVNL	6,120	11,671	0.52	13	-1,290	-0.01
SAIL	6,069	11,555	0.53	82	717	0.11
SAMMAANCAP	8,858	13,187	0.67	-424	-382	1.11
SBICARD	5,099	6,753	0.76	310	-274	-1.13
SBILIFE	5,690	11,233	0.51	183	-286	-0.64
SBIN	39,581	57,992	0.68	-1,750	-283	6.18
SHREECEM	2,521	6,417	0.39	259	542	0.48
SHRIRAMFIN	23,370	27,976	0.84	7,893	4,970	1.59
SIEMENS	8,616	18,815	0.46	-38	-840	0.05
SOLARINDS	4,323	10,820	0.40	134	250	0.54
SONACOMS	2,705	4,965	0.54	141	-640	-0.22
SRF	7,542	8,212	0.92	150	-779	-0.19
SUNPHARMA	9,018	24,100	0.37	450	-2,074	-0.22
SUPREMEIND	4,109	7,253	0.57	-79	250	-0.32
SUZLON	9,964	23,771	0.42	-170	-1,195	0.14
SYNGENE	1,622	3,525	0.46	158	104	1.52
TATACONSUM	5,261	9,872	0.53	107	52	2.06
TATAELXSI	19,523	22,667	0.86	14,029	7,807	1.80
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	18,837	27,423	0.69	-381	-906	0.42
TATASTEEL	14,851	27,484	0.54	-38	436	-0.09
TATATECH	4,877	7,093	0.69	151	-508	-0.30
TCS	35,663	46,306	0.77	-105	-392	0.27
TECHM	8,756	10,492	0.83	74	399	0.19
TIINDIA	4,978	7,297	0.68	57	-384	-0.15
TITAGARH	2,671	5,593	0.48	-46	-11	4.18
TITAN	14,937	21,749	0.69	1,725	1,099	1.57
TMPV	36,677	76,097	0.48	-3,536	-3,894	0.91
TORNTPHARM	1,274	2,591	0.49	92	102	0.90
TORNTPOWER	1,993	3,132	0.64	153	-381	-0.40
TRENT	25,864	49,829	0.52	-373	-2,286	0.16
TVSMOTOR	9,939	9,068	1.10	854	-408	-2.09
ULTRACEMCO	11,695	20,610	0.57	212	-635	-0.33
UNIONBANK	5,437	8,617	0.63	185	683	0.27
UNITDSPR	8,233	10,062	0.82	43	21	2.05
UNOMINDA	3,030	5,556	0.55	240	186	1.29
UPL	4,925	6,821	0.72	50	-15	-3.33
VBL	9,253	19,061	0.49	-128	405	-0.32
VEDL	41,901	40,402	1.04	-736	602	-1.22
VOLTAS	6,454	11,740	0.55	-295	2,885	-0.10
WIPRO	12,110	14,330	0.85	275	199	1.38
YESBANK	6,316	13,167	0.48	-47	180	-0.26
ZYDUSLIFE	3,543	5,046	0.70	6	253	0.02

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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