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.

1366 +0.80 (0.06%)

L: 1355.5 H: 1368.7

Put-Call Ratio - ICICIBANK

17 Dec 2025 09:05 AM IST

Live

Expiry

Put OI

32,115

Call OI

50,359

PCR

0.64

Put OI Chg

611

Call OI Chg

122

COI PCR

5.01

COI Strength

0.67

Interval

On 9:15 ICICIBANK was trading at 1366 with pcr value 0.64

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	2,013	3,262	0.62	-56	-47	1.19
ABB	5,370	6,385	0.84	-139	-367	0.38
ABCAPITAL	4,782	7,792	0.61	-153	38	-4.03
ADANIENSOL	3,387	5,774	0.59	-312	410	-0.76
ADANIENT	26,497	44,049	0.60	-687	600	-1.15
ADANIGREEN	10,334	19,575	0.53	-757	527	-1.44
ADANIPORTS	9,151	18,039	0.51	-46	459	-0.10
ALKEM	1,237	1,658	0.75	66	-44	-1.50
AMBER	7,013	10,258	0.68	0	0	0.00
AMBUJACEM	8,512	10,329	0.82	-654	-201	3.25
ANGELONE	7,611	18,475	0.41	-162	167	-0.97
APLAPOLLO	2,437	2,706	0.90	-65	-133	0.49
APOLLOHOSP	7,864	16,171	0.49	288	1,139	0.25
ASHOKLEY	12,389	12,814	0.97	532	318	1.67
ASIANPAINT	17,055	33,810	0.50	-50	-485	0.10
ASTRAL	4,432	7,948	0.56	296	199	1.49
AUBANK	6,351	7,514	0.85	-326	-99	3.29
AUROPHARMA	4,459	10,360	0.43	-194	234	-0.83
AXISBANK	26,517	59,232	0.45	12,343	30,447	0.41
BAJAJ-AUTO	14,853	27,432	0.54	386	-353	-1.09
BAJAJFINSV	14,330	20,519	0.70	1,013	1,388	0.73
BAJFINANCE	23,383	40,973	0.57	858	2,783	0.31
BANDHANBNK	7,652	11,416	0.67	-24	-38	0.63
BANKBARODA	12,290	16,779	0.73	152	647	0.23
BANKINDIA	3,321	4,690	0.71	-13	77	-0.17
BDL	8,295	20,673	0.40	748	2,765	0.27
BEL	27,127	61,809	0.44	515	2,132	0.24
BHARATFORG	4,196	6,900	0.61	34	81	0.42
BHARTIARTL	19,480	40,121	0.49	565	-533	-1.06
BHEL	8,925	17,965	0.50	-279	424	-0.66
BIOCON	6,477	13,006	0.50	17	467	0.04
BLUESTARCO	1,379	1,756	0.79	8	15	0.53
BOSCHLTD	1,615	3,188	0.51	70	180	0.39
BPCL	5,445	9,136	0.60	-186	1,050	-0.18
BRITANNIA	6,421	9,078	0.71	584	1,428	0.41
BSE	18,371	37,578	0.49	113	3,757	0.03
CAMS	4,337	7,332	0.59	-50	-81	0.62
CANBK	12,026	16,088	0.75	-32	428	-0.07
CDSL	9,558	21,928	0.44	-62	356	-0.17
CGPOWER	4,641	8,967	0.52	-140	128	-1.09
CHOLAFIN	3,603	5,658	0.64	-52	320	-0.16
CIPLA	10,154	15,519	0.65	57	710	0.08
COALINDIA	12,574	13,027	0.97	-67	-96	0.70
COFORGE	8,700	20,127	0.43	2	-1,207	-0.00
COLPAL	6,488	10,703	0.61	80	1,261	0.06
CONCOR	7,651	10,169	0.75	-66	318	-0.21
CROMPTON	6,349	11,761	0.54	-54	57	-0.95
CUMMINSIND	3,564	4,466	0.80	46	97	0.47
CYIENT	1,947	2,953	0.66	-56	18	-3.11
DABUR	5,942	11,143	0.53	663	822	0.81
DALBHARAT	2,888	3,798	0.76	-229	-454	0.50
DELHIVERY	3,908	6,390	0.61	80	608	0.13
DIVISLAB	6,580	9,058	0.73	42	-1	-42.00
DIXON	35,819	62,397	0.57	-1,667	3,183	-0.52
DLF	16,560	25,980	0.64	-110	313	-0.35
DMART	7,175	15,625	0.46	57	2,719	0.02
DRREDDY	5,374	10,739	0.50	-256	-11	23.27
EICHERMOT	10,854	16,012	0.68	-314	70	-4.49
ETERNAL	19,369	36,243	0.53	1,668	7,838	0.21
EXIDEIND	4,037	5,736	0.70	35	205	0.17
FEDERALBNK	8,143	7,983	1.02	-664	155	-4.28
FORTIS	3,597	8,712	0.41	-70	-732	0.10
GAIL	13,520	20,687	0.65	69	103	0.67
GLENMARK	8,060	10,927	0.74	181	471	0.38
GMRAIRPORT	10,830	19,464	0.56	-163	1,074	-0.15
GODREJCP	3,928	5,937	0.66	830	1,906	0.44
GODREJPROP	7,027	11,735	0.60	374	753	0.50
GRASIM	9,551	8,614	1.11	-46	74	-0.62
HAL	27,886	56,679	0.49	131	3,887	0.03
HAVELLS	3,543	4,741	0.75	-25	83	-0.30
HCLTECH	11,520	20,219	0.57	25	871	0.03
HDFCAMC	4,713	6,417	0.73	116	688	0.17
HDFCBANK	42,766	63,381	0.67	1,295	-528	-2.45
HDFCLIFE	7,622	19,104	0.40	2	1,615	0.00
HEROMOTOCO	12,927	18,376	0.70	179	167	1.07
HFCL	4,924	11,978	0.41	9	-386	-0.02
HINDALCO	15,511	21,091	0.74	-1,452	-209	6.95
HINDPETRO	3,877	6,875	0.56	-165	478	-0.35
HINDUNILVR	9,907	19,875	0.50	-804	-275	2.92
HINDZINC	24,124	33,499	0.72	-1,631	-1,948	0.84
HUDCO	6,370	14,314	0.45	94	167	0.56
ICICIBANK	32,151	50,381	0.64	897	422	2.13
ICICIGI	3,060	5,458	0.56	-100	-50	2.00
ICICIPRULI	2,330	4,772	0.49	-97	221	-0.44
IDEA	15,238	26,523	0.57	113	-374	-0.30
IDFCFIRSTB	9,768	12,592	0.78	-334	-35	9.54
IEX	8,415	11,563	0.73	-33	-331	0.10
IIFL	2,600	4,338	0.60	-25	107	-0.23
INDHOTEL	5,779	9,155	0.63	72	722	0.10
INDIANB	4,836	12,039	0.40	65	644	0.10
INDIGO	51,728	1,09,173	0.47	-1,222	-3,742	0.33
INDUSINDBK	12,642	18,488	0.68	463	717	0.65
INDUSTOWER	8,736	15,507	0.56	-200	-356	0.56
INFY	38,013	61,797	0.62	-2,568	650	-3.95
INOXWIND	7,006	13,944	0.50	-239	96	-2.49
IOC	7,269	12,598	0.58	479	1,420	0.34
IRCTC	7,326	11,039	0.66	70	-15	-4.67
IREDA	4,940	10,248	0.48	12	-12	-1.00
IRFC	4,544	9,492	0.48	88	359	0.25
ITC	21,885	34,223	0.64	-3,030	-44	68.86
JINDALSTEL	5,505	8,892	0.62	65	882	0.07
JIOFIN	18,035	25,758	0.70	-134	1,172	-0.11
JSWENERGY	10,224	15,138	0.68	-868	-260	3.34
JSWSTEEL	12,884	28,439	0.45	-1,556	1,324	-1.18
JUBLFOOD	6,761	9,713	0.70	-209	1,672	-0.13
KALYANKJIL	4,813	8,789	0.55	33	58	0.57
KAYNES	30,577	76,241	0.40	-213	-2,275	0.09
KEI	2,183	3,547	0.62	-79	59	-1.34
KFINTECH	4,260	6,725	0.63	179	-17	-10.53
KOTAKBANK	18,726	21,194	0.88	210	392	0.54
KPITTECH	3,529	6,373	0.55	270	849	0.32
LAURUSLABS	5,211	9,959	0.52	-50	377	-0.13
LICHSGFIN	7,632	10,140	0.75	21	192	0.11
LICI	6,322	12,063	0.52	-253	200	-1.26
LODHA	4,385	10,445	0.42	-237	478	-0.50
LT	18,498	32,201	0.57	-772	-195	3.96
LTF	4,975	7,812	0.64	-50	-286	0.17
LTIM	4,457	5,667	0.79	11	-25	-0.44
LUPIN	5,100	6,794	0.75	-19	263	-0.07
M&M	17,367	32,815	0.53	-117	-1,019	0.11
MANAPPURAM	3,722	5,380	0.69	-154	-46	3.35
MANKIND	2,402	5,010	0.48	40	519	0.08
MARICO	3,084	5,141	0.60	365	948	0.39
MARUTI	29,751	30,925	0.96	-2,013	-714	2.82
MAXHEALTH	5,061	10,202	0.50	-29	283	-0.10
MAZDOCK	10,199	22,489	0.45	142	1,302	0.11
MCX	15,165	22,923	0.66	407	745	0.55
MFSL	2,445	4,498	0.54	50	395	0.13
MOTHERSON	7,533	9,252	0.81	-81	-138	0.59
MPHASIS	3,491	4,715	0.74	-265	-107	2.48
MUTHOOTFIN	6,395	11,792	0.54	36	-215	-0.17
NATIONALUM	6,740	7,843	0.86	-226	-170	1.33
NAUKRI	5,990	7,080	0.85	104	-47	-2.21
NBCC	3,194	6,986	0.46	-260	340	-0.76
NCC	3,796	9,018	0.42	-26	364	-0.07
NESTLEIND	4,420	13,871	0.32	278	42	6.62
NHPC	3,209	7,032	0.46	5	274	0.02
NMDC	9,949	13,279	0.75	-499	427	-1.17
NTPC	13,454	22,790	0.59	-1,172	770	-1.52
NUVAMA	2,141	4,192	0.51	46	99	0.46
NYKAA	2,589	6,996	0.37	27	445	0.06
OBEROIRLTY	3,490	5,864	0.60	-83	69	-1.20
OFSS	6,997	9,386	0.75	-838	358	-2.34
OIL	2,483	4,561	0.54	53	236	0.22
ONGC	10,771	26,085	0.41	-803	225	-3.57
PAGEIND	3,357	7,987	0.42	-109	451	-0.24
PATANJALI	3,896	8,733	0.45	31	93	0.33
PAYTM	7,743	12,864	0.60	65	1,041	0.06
PERSISTENT	6,360	10,748	0.59	-262	283	-0.93
PETRONET	8,986	8,741	1.03	410	467	0.88
PFC	20,926	36,811	0.57	317	2,822	0.11
PGEL	7,797	12,136	0.64	-237	216	-1.10
PHOENIXLTD	1,664	3,407	0.49	-150	72	-2.08
PIDILITIND	1,951	2,559	0.76	-38	-109	0.35
PIIND	3,607	5,722	0.63	-44	-241	0.18
PNB	11,561	22,581	0.51	148	935	0.16
PNBHOUSING	7,339	11,992	0.61	-87	-21	4.14
POLICYBZR	5,936	8,601	0.69	1,099	2,082	0.53
POLYCAB	4,177	6,062	0.69	64	426	0.15
POWERGRID	10,696	17,681	0.60	-179	465	-0.38
POWERINDIA	4,072	10,923	0.37	-144	217	-0.66
PPLPHARMA	2,888	7,229	0.40	110	307	0.36
PRESTIGE	2,786	4,280	0.65	86	358	0.24
RBLBANK	4,787	7,703	0.62	118	316	0.37
RECLTD	21,853	35,096	0.62	71	2,062	0.03
RELIANCE	49,211	97,923	0.50	-1,068	2,641	-0.40
RVNL	6,407	12,465	0.51	17	702	0.02
SAIL	5,956	10,671	0.56	112	568	0.20
SAMMAANCAP	6,678	12,364	0.54	380	466	0.82
SBICARD	4,912	7,462	0.66	390	755	0.52
SBILIFE	6,337	12,085	0.52	167	368	0.45
SBIN	40,023	67,689	0.59	-287	2,745	-0.10
SHREECEM	2,321	5,857	0.40	401	2,397	0.17
SHRIRAMFIN	12,667	21,200	0.60	114	52	2.19
SIEMENS	8,909	17,895	0.50	-729	88	-8.28
SOLARINDS	3,927	10,582	0.37	52	944	0.06
SONACOMS	2,582	5,571	0.46	2	-24	-0.08
SRF	7,149	9,370	0.76	359	532	0.67
SUNPHARMA	6,535	19,987	0.33	-428	106	-4.08
SUPREMEIND	4,838	7,868	0.61	924	163	5.67
SUZLON	10,619	23,622	0.45	301	244	1.23
SYNGENE	1,420	2,807	0.51	-136	34	-4.00
TATACONSUM	5,144	10,145	0.51	271	403	0.67
TATAELXSI	5,469	14,972	0.37	-136	611	-0.22
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,412	26,898	0.72	-131	639	-0.21
TATASTEEL	15,517	26,286	0.59	-885	313	-2.83
TATATECH	4,653	7,550	0.62	5	91	0.05
TCS	37,750	48,934	0.77	-767	840	-0.91
TECHM	7,470	9,563	0.78	-24	-1	24.00
TIINDIA	4,704	7,747	0.61	-32	226	-0.14
TITAGARH	2,642	5,196	0.51	43	154	0.28
TITAN	14,623	21,460	0.68	2,627	635	4.14
TMPV	40,288	88,033	0.46	-77	71	-1.08
TORNTPHARM	1,145	2,639	0.43	9	190	0.05
TORNTPOWER	2,030	3,174	0.64	-52	449	-0.12
TRENT	26,663	50,022	0.53	127	875	0.15
TVSMOTOR	9,476	9,553	0.99	79	27	2.93
ULTRACEMCO	11,145	18,932	0.59	-378	1,657	-0.23
UNIONBANK	5,574	8,235	0.68	-117	35	-3.34
UNITDSPR	6,540	8,658	0.76	-2	110	-0.02
UNOMINDA	2,856	5,023	0.57	160	10	16.00
UPL	4,630	6,720	0.69	-213	110	-1.94
VBL	10,147	23,541	0.43	368	879	0.42
VEDL	38,369	41,645	0.92	10,190	7,104	1.43
VOLTAS	6,501	7,177	0.91	-58	-336	0.17
WIPRO	10,826	13,777	0.79	-191	-149	1.28
YESBANK	6,428	13,330	0.48	7	280	0.03
ZYDUSLIFE	3,450	4,923	0.70	160	489	0.33

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.

Related Pages for ICICIBANK

ICICIBANK

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

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